According to a new market research report published by Credence Research “Flow Meters Market (by Meter Type: Differential Pressure, Positive Displacement, Magnetic, Ultrasonic, Coriolis, Turbine, and Vortex; by End-use Industry: Water Infrastructure, Power Generation, Oil & Gas, Paper & Pulp, Food & Beverage, Chemical, and Other (Construction & Mining, Hydraulic Systems, etc.)) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the flow meters market was valued US$ 6.71 Bn in 2017 and estimated to grow with a CAGR of 6.6% during the forecast period from 2018 to 2026.
The significance of fluids and measurement of different fluid properties plays a vital role in modern day manufacturing & processing sector to optimize the overall process. Flow meter is one such device used to measure amount of fluid through channels. The role of flow meters is undeniable across any industry dealing with fluids to provide accurate monitoring and achieve complete flow control. Flow meters are extensively used across several end-users including water infrastructure, power generation plants, oil & gas industries, manufacturing & processing industries among others. Persistent growth in all the aforementioned end-users is consistently encouraging the demand for flow meters and the demand is projected to propagate even further in coming years.
A variety of flow meters are available in order to measure fluids with different properties. Incorporation of advanced electronics and evolution of non-contact flow meters enabled high accuracy in flow measurement of fluid with different densities. Modern-day flow meters do not require detailed calibration and reduced maintenance cost prevent precious downtime. All these factors helped advanced flow meters to score an edge over tradition mechanical flow meters.
Being an essential part across industries, several international players extended their product portfolios by manufacturing state-of-the-art flow meters. These companies face fierce competition among each other along with local players to maintain their dominance over the market. With several well-established local and international players, the market offer limited growth opportunities for new entrants. However, existing players have to keep themselves on toes to stay competitive in the global flow meters market. Few of the major notable players profiled in this research study ABB Ltd., Emerson Electric Co., Honeywell International, Inc., Siemens AG, Schneider Electric SE, Badger Meter, General Electric, KROHNE Messtechnik, Höntzsch GmbH, Yokogawa Electric Co., Hitachi ltd., and Endress+Hauser AG among others.
The complete report is available at https://www.credenceresearch.com/report/flow-meters-market
Key Analysis Covered:
- Consistent development in industrial automation and its effects on the development of flow metes
- Most prominent end-user and their growth assisting flow meters market to grow
- Different types of flow meters and their standing in terms of market value
- Demand of different flow meters depending upon the type of fluids to be handled
- Role of power generation and oil & gas sector playing in flow meters market and their effect on the sales of flow meters
- Significance of developing region such as Asia Pacific, Middle East & Africa and Latin America in overall flow meters market