Flow Meters Market: Segmented: By Product Type (Differential Pressure, Positive Displacement, Magnetic, Ultrasonic, Coriolis, Turbine and Vortex); By Applications (Water & Wastewater, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Food & Beverages and Metals & Mining); and Region - Analysis of Market Size, Shares & Trends for 2016-2019 and Forecasts to 2030
Flow Meters Market is expected to exceed USD 10,825 million by 2030 from USD 7,075 million in 2021 at a CAGR of 6.25% throughout the forecast period i.e. 2020-2030.
Flowmeter is a fundamental tool that determines the linear, non-linear, volumetric, or mass flow rate of a liquid or a gas, or a mixture of both. They are referred to by a variety of terms, such as flow counter, fluid detector, liquid meter, flow rate monitor, etc. depending on the sector. They all calculate the wind, though. Free waterways, such as rivers or lakes, may be measured with flow meters. However, more frequently than not, the most accurate flow meter and the largest range of flow meters rely on the calculation of gases and liquids in the tubing. Improving the precision, accuracy, and resolution of fluid measurements is the biggest advantage of the latest flow meters.
Flow Meters Market is expected to project a CAGR of 6.25% during the forecast period, 2020-2030
The market is anticipated to grow on the back of growing demand for flow meters from end-users and rising demand for intelligent flow meters. Advancements in fluid characteristics, flow profile, flow range, and the enhancement of appropriate measurements are the key factors that are likely to further boost the growth of the market in the coming years.
The ultrasonic segment to grow with the fastest CAGR of xx% during 2020-2030
The worldwide flow meters market is segmented by Product Type into Differential Pressure, Positive Displacement, Magnetic, Ultrasonic, Coriolis, Turbine, and Vortex. Among these, the ultrasonic segment is estimated to hold the largest market share of xx% in 2019 owing to its low maintenance and reliability. Ultrasonic flow meters are precise and can be used for custody transfer of petroleum and natural gas.
The Oil & Gas segment to boost at the fastest CAGR of xx% during 2020-2030
Global Flow Meters Market is segmented by applications into Water & Wastewater, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Food & Beverages, and Metals & Mining. Among these, the oil & gas segment is witnessed to hold the largest market share of xx% in the year 2019. This is because the oil & gas industry is flourishing in the emerging countries which in turn boosts the market growth of flow meters. Flow meters are mostly used as a flow measurement of crude oil, and custody transfer among others that offers magnificent growth prospects.
Rising Demand for Flow Meters from End-users
Demand for flow meters across end-use industries is growing at a substantial pace, which is expected to boost the market in the forecast period. In the oil & gas field, demand for flow meters is rising due to increased demand for oil & gas supply worldwide. The improved capacity to provide more precise flow calculations across varying temperature conditions facilitates its accelerated acceptance in the oil & gas industry. Increasing emphasis on rising total prices, carbon emissions, and total process efficiency are some of the reasons responsible for the demand for flow meters through food & beverage, chemicals, and related industries.
Rising Demand for Intelligent Flow Meters
Intelligent flow meters have a greater way to track and regulate liquid/gas movement. This is accomplished by the use of advanced technology such as Bluetooth, Ethernet I/P, Wireless LAN, I/O Connect, and M-Bus. Higher precision and reliable results are required in industrial applications to make processes more effective. As a consequence, the demand for intelligent flow meters is projected to rise through chemical and water treatment regions. The increasing demand for an intelligent flow meter due to its accurate and precise flow measurement is another factor driving the growth of the flow meters market
High Maintenance Cost Owing to Harsh Work Environment
Flow meters perform crucial functions in severe circumstances, resulting in decreased wear and tear. According to this, high maintenance is needed to maximize shelf life and performance. Any of the major reasons contributing to high maintenance include disrupted fluid or gas pressure, fast turnover, damp air, and abrasive fluids. As a consequence, daily servicing of flow meters is necessary, summing up the overall cost of maintenance. Consequently, high maintenance requirements will act as a limiting factor for the growth of the flowmeter market in the coming years.
Asia Pacific to surge at the highest CAGR of 6.25% during 2020-2030
Region-wise, the market for flow meters across the globe is segmented into North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific. Among these, Asia Pacific is witnessed to constitute xx% of the total market share in the year 2019 owing to the rapid urbanization ongoing in the Asia Pacific countries, which will most likely cause the need for adequate power production and effective water and wastewater management.
TLV International Inc.
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By Product Type
The Flow Meters Market size was estimated at USD 7,075 million in 2019 and is expected to reach USD 10,825 million by 2030.
TLV International Inc., Forbes Marshall, Omega Engineering EMEA, Scharf Automation Pvt. Ltd., Max Machinery Inc., TSI Incorporated, Emerson, Azbil Corporation, Yokogawa and Brooks Instrument.
The ultrasonic segment and The Oil & Gas segment anticipated to hold the largest Flow Meters Market
Drivers: Rising Demand for Flow Meters from End-users and Rising Demand for Intelligent Flow Meters
Flowmeter is a fundamental tool that determines the linear, non-linear, volumetric, or mass flow rate of a liquid or a gas, or a mixture of both. They are referred to by a variety of terms, such as flow counter, fluid detector, liquid meter, flow rate monitor, etc. depending on the sector. They all calculate the wind, though. Free waterways, such as rivers or lakes, may be measured with flow meters.
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