Industrial Flow meters Market: Introduction
Industrial flow meters are the integral tool for measuring the flow of liquid, gas, or a mixture of the both in several end-use industries such as, food & beverages, Oil & gas, power plant, chemicals and pharmaceuticals to name some. Some of the key factors requiring the need for industrial flow meters are need for accurate measurements, fluid characteristics, flow range and flow profile among others. Some of the most common industrial flow meters used includes electromagnetic, differential pressure, coriolis and ultrasonic flow meter.
Among the industrial flow meters type, ultrasonic segment is expected to gain traction in the market on the account of higher accuracy, reliability and low maintenance. Manufacturers & processing industries across the globe depends on the precise and reliable measurement for proper controlling. Hence industrial flow meters play a significant role in the process industries for safety and proper monitoring of the systems and to optimize the process output. The oil & gas industries in the industrial flow meters market is expected to witness robust growth in terms of end use sector owing use of industries flow meters to measure crude oil and custody transfer of petroleum and natural gas.
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Industrial Flow meters Market: Dynamics
Industrial flow meters are crucial for monitoring and controlling the processes in the manufacturing industries, power plant and oil & gas industries. Henceforth, leading to increase in overall productivity, resource optimization, along with improving the safety. The industrial growth is thus expected to boost the growth of industrial flow meters market over the forecast period. The increasing demand of energy results in the growth of oil and gas industry and power generation segment which in turn is expected to positively impact the growth of industrial flow meters market.
Over the past couple of years the market for industrial flow meters has drastically changed. The manufacturers of mass production have been shifting the production base to the locations with economical available raw materials. The manufacturing sector is witnessing high degree of automation and increased focus on process modernization and operation optimization this in turn is expected to drive the demand for industrial flow meters market. Higher cost of smarter and level of sophistication associated with certain type of industrial flow meters is expected to be restraining the growth of industrial flow meters market. Moreover, the use of industrial flow meters is highly technical endeavor which requires skilled personal with the knowledge of various flow measurement technologies.
Industrial Flow meters Market: Segmentation
Industrial Flow meters Market can be segmented on the basis of Product Type, measuring technique and End Use.
On the basis of flow meter type, industrial flow meters can be segmented into:
- Electromagnetic Flow Meters
- Coriolis Flow Meters
- Differential-Pressure Flow Meters
- Ultrasonic Flow Meters
- Doppler-shift meter
- Transit-time meter
- Positive Displacement Industrial Flow Meters
- Turbine Flow Meters
- Vortex Industrial Flow Meters
On the basis of Fluid type, industrial flow meters can be segmented into:
- Water
- Oil
- Air/gas
- Steam
- Other Liquids
On the basis of End Use, Industrial Flow meters can be segmented into:
- Oil and Gas industry
- Food & Beverages Industry
- Power Plants
- Chemicals
- Pharmaceuticals
- Steel Industry
- Water & Wastewater
- Pulp & Paper
Industrial Flow meters Market: Regional Overview
The Global Industrial Flow meters Market is dominated by Asia Pacific region and the region is expected to witness further growth lead by rapid industrial and economic growth. Significant investment in the development of power & energy infrastructure, coupled with blooming chemical industry across India, China and ASEAN countries is expected to have significant contribution towards the growth of industrial flow meters market across Asia Pacific. North America and Western Europe industrial flow meters market are expected to witness health growth over the forecast period driven by positive outlook. Industrial Flow meters market in Middle East and Africa is expected to grow with significant growth rate due to boom in oil and gas industry in the upcoming year.
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Industrial Flow meters Market: Market Participants
Examples of some of the market participants identified across the value chain of the global Industrial Flow meters Market includes:
- ABB Group
- Emerson Electric Co.
- Siemens AG
- KROHNE Group
- Honeywell International Inc.
- FTI Flow Technology
- Badger Meter, Inc.
- SmartMeasurement
- Yokogawa Corporation
