Flow Meter Market to Surpass 14.05 Billion by 2030 Drives Due to their Versatility and Robust Performance
SkyQuest projects that the flow meter market will attain a value of USD 14.05 billion by 2030, with a CAGR of 6.2% over the forecast period (2023-2030). Adopting measurement technologies and instruments is more comprehensive than in the oil and gas sector. Other industries, such as water and wastewater management, power generation, and pulp and paper, are also expected to contribute to the flow meter market’s growth. These industries require precise flow rate measurement for efficient resource management, environmental compliance, and operational performance.
Westford,USA, Aug. 18, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the emergence of various technologies, such as the Industrial Internet of Things (IIoT), asset management, and advanced diagnostics, has led to new collaborations and opportunities for users and suppliers in the flow meter market. These technologies enable enhanced connectivity, data sharing, and real-time monitoring, driving efficiency and productivity in industrial processes.
Browse in-depth TOC on the “Flow Meter Market”
- Pages – 260
- Tables – 77
- Figures – 75
Electromagnetic flow meters are widely used across various industries owing to their versatility and robust performance. These flow meters find extensive applications in the food industry, where accurate measurement of liquid flow is crucial for processing and production. They can measure different food products’ flow rates, including liquids with high viscosity or particulate matter in the flow meter market.
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Prominent Players in Flow Meter Market
- Emerson Electric Co.
- Honeywell International Inc.
- Siemens AG
- ABB Ltd.
- Yokogawa Electric Corporation
- KROHNE Messtechnik GmbH
- Endress+Hauser AG
- Schneider Electric SE
- Azbil Corporation
- Badger Meter, Inc.
- Brooks Instrument LLC
- Danfoss A/S
- General Electric Company
- Hitachi, Ltd.
- Omega Engineering, Inc.
- Sierra Instruments, Inc.
- Teledyne Technologies Inc.
- Vogtlin Instruments GmbH
- Weir Group plc
- TSI Incorporated
Battery-Powered Segment is Expected to Grow the Market Due to its Convenience
Battery-powered segment emerged as the dominant revenue contributor in the flow meter market, holding approximately 45% of the market share. Battery-powered flow meters offer flexibility and convenience, allowing them to be used in various applications without a direct power source. This makes them particularly suitable for remote locations or areas with limited access to regular power supply.
The market in the North America is projected to have a substantial market share in the flow meter market, primarily owing to the highly developed oil and gas, chemicals, and power generation sectors. North America has long been a hub for these industries, driving the demand for flow meters to measure and control fluid flow in various processes accurately.
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Magnetic Flow meters Segment is Expected to Dominate the Market Due to Reliable Flow Rate Measurement Solutions
Magnetic flow meters segment dominated the flow meter market in terms of revenue, accounting for approximately 35% of the total market share in 2022. This segment includes wired and wireless magnetic flow meters, offering accurate and reliable flow rate measurement solutions for various industries.
Regional markets in the Asia Pacific are poised to capture the most significant portion of the flow meter market share during the forecast period. This dominance can be attributed to several key factors driving the market’s growth in the region. Firstly, rapid industrialization across countries such as India, Bangladesh, China, Vietnam, and others has increased demand for flow meters in various industries. These devices are critical in measuring and monitoring the flow of liquids and gases, ensuring efficient operations and process control.
A comprehensive analysis of the major players in the flow meter market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Flow Meter Market
- Yokogawa Electric Corporation announced the launch of their new product series, the OpreXTM Magnetic Flow meter CA Series in 2022. This series is a successor to the ADMAG CA Series and is part of the OpreX Field Instruments family. The devices in this series are capacitance-type magnetic flow meters that can accurately measure the flow of conductive fluids through a measurement tube without direct contact with the electrodes.
- Sensirion recently expanded its mass flow controller line by introducing the SFC5500. This high-performance mass flow controller and meter are specifically calibrated for various gases. The SFC5500 incorporates push-in fittings, allowing users to replace suitable components from a provided list easily.
Key Questions Answered in Flow Meter Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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