Flow Meter Market with Potential Growth, Latest Trends and Forecast by 2027
Category: #business  By Ronak Bora  Date: 2022-08-12
  • share
  • Twitter
  • Facebook
  • LinkedIn
Flow Meter Market with Potential Growth, Latest Trends and Forecast by 2027

As per the latest report by GMI, Inc, flow meter market size is projected to exceed USD 6.5 billion by 2027. The ongoing transformation of the industrial sector across the globe has instigated the deployment of smart monitoring and process automation systems. In this regard, flow meters are gaining a wide prominence across various industrial segments like oil & gas, pharmaceutical, chemical, water & wastewater treatment, etc. for measuring and monitoring the flow rate of fluids, gases, and others. Increasing product significance is expected to strengthen flow meter industry outlook.

Besides, various initiatives for worker safety, environmental protection, product quality and process optimization by the industrial OEMs is further fueling the application of flow metersIncreasing R&D investments in flow meter technology aimed at offering industry-specific features and solutions, such as multi measurement formats, digital signals, remote calibration, online diagnostics, etc. is favoring the market expansion further.

Get a sample copy of this research report @ https://www.decresearch.com/request-sample/detail/5075

In light of the below mentioned trends:

Strategic initiatives by prominent market players

Several companies active in the flow meter market are focusing on developing advanced products to attract larger customer base and gain a competitive edge in market. For instance, in 2020, FESTO launched VEMD, a mass flow controller equipped with a flow sensor having proportional valve and controller designed to proportionally control the flow of inert gases and compressed air within a small and calibrated package. According to the company, it compares the required signal value with the sensor-measured value and adjusts the output using the piezo pilot valve.

Heightened popularity of Coriolis flow meter

Coriolis flowmeters, which are twisted meters that measure mass flow rather than volumetric flow, are extensively used in smart flow monitoring systems in pharmaceutical, chemical and water & wastewater treatment applications. These flow meters function efficiently under variety of pressure, temperature, viscosity and fluid density situations. They offer low leakage rate, high dependability and precision flow monitoring of diverse gases and liquids which is significantly impelling the product demand. On account of the increasing adoption, Coriolis segment had held a sizeable share of around 25% in 2020 and will grow exponentially over the coming years.

Burgeoning demand from the pharmaceutical sector

Flow meters find important application in the pharmaceutical domain for chemical synthesis, process isolation, automated cleaning and draining, API extraction, etc. The heightened demand for remote diagnosing, monitoring and controlling liquid flow to ensure patient safety is accelerating the product demand in the flow meter market. To illustrate, in 2020, an Indian medical institute- The Sree Chitra Tirunal Institute developed a budget-friendly blood flow meter for increasing patient safety during heart surgeries. Considering the high product usability, pharmaceutical segment had captured around 11.5% share in 2020 and is expected to observe a robust CAGR of over 8.3% through 2027.

Request for customization @ https://www.decresearch.com//roc/5075

Strong presence of pharmaceutical companies in Europe

Europe has a strong presence of various prominent pharma companies like Pfizer Inc., and AstraZeneca which serves as a major factor impelling the deployment of flow meters in the region. These companies are highly focused on large-scale manufacturing of vaccines and medications for various ailments. They are also inclined on investing heavily in R&D operations. According to the EFPIA statistics, European pharmaceutical firms invested around USD 46,252 million in research & development in 2020. Given the prominence of these factors, Europe flow meter market is estimated to witness a lucrative CAGR of 4% through 2027.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Scope & definition

1.2    Methodology & forecast

1.3    Data Sources

1.3.1    Primary

1.3.2    Secondary

Chapter 2   Executive Summary

2.1    Flow meter market 3600 synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Product type trends

2.1.4    Industry verticals trends

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/flow-meter-market

About Us: –

DecResearch.com, powered by GMI, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed ‘Table of Contents’ for reports being regularly published by GMI. Via this platform, users not only get to answers to their questions about these reports, they also have an additional avenue to talk to the sales and research teams of GMI to learn more about the topics of their interest.

Contact Us: –

DecResearch.com

Website: – https://www.decresearch.com

Email: [email protected]

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

Read More >>

More News By Ronak Bora

Early Production Facility Market 2022 By Competitive Analysis, Top Trends & Projections To 2026
Early Production Facility Market 2022 By Competitive Analysis, Top Trends & Projections To 2026
By Ronak Bora

A considerable rise in the demand for oil and gas and the consequent investment made towards the development in the industry through recovering crude oil prices in recent years has positively influenced early production facility market share. Early m...

Cryogenic Tanks Market Statistics, Regional Growth & Forecast 2022-2026
Cryogenic Tanks Market Statistics, Regional Growth & Forecast 2022-2026
By Ronak Bora

Expanding LNG trade and its burgeoning demand owing to a paradigm shift toward gas based electricity generation has enabled the global cryogenic tanks market to carve a lucrative map for itself in the energy industry in the years to come. In fact, as...

Asia Pacific Oil Storage Tank Service Market 2025 Outlook By Industry Players
Asia Pacific Oil Storage Tank Service Market 2025 Outlook By Industry Players
By Ronak Bora

An increase in crude oil production and recovering oil prices have favored the expansion and upgradation of oil tank farms, terminals and depots across Asia Pacific. The demand for oil storage service has surged across the midstream and downstream se...