Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Flow sensors are devices which are basically used to measure the rate of fluid flow inferentially or directly. Direct measurement includes the measurement of the volumetric flow rate of the given fluid. There are different types of flow sensors including turbine flow sensor, electromagnetic flow sensor and thermal mass flow sensor. These flow sensors are used in industries like pulp and paper, pharmaceutical, food & beverages, aerospace etc. The flow meter has an ability to detect slightest flow with high amount of accuracy. Flow sensors are used in many medical devices like oxygen concentrators, insufflators, inhalers etc.
Increase in usage of flow meter in different industries is one of the major factors fueling up the growth of the market. Rising demand of advanced flow meters in gas and oil industry is driving the growth of the market. Further, growing demand for petrochemical and chemical products is another factor fueling up the market growth. However, the high price of flow sensors is restraining the market growth. Drop in prices of gas and oil is another drawback affecting the growth of the flow meter market growth.
This coronavirus pandemic has severely affected the businesses worldwide. Shortage in supply chains is one the major factor which decreases the market growth. Temporary closures of the manufacturing sector and supply chains worldwide is one of the major cause which affects the market of flow meters.
The report analyses the flow meters market based on type, end-user industry and by geography.
By type, the global flow meters market is segmented into differential pressure, turbine, positive displacement, magnetic, ultrasonic, coriolis, vortex. Ultrasonic flow meter is the highest growing segment of the flow meter market on the basis of their reliability and low maintenance. Ultrasonic flow meters provide high accuracy and are used for custody transfer of natural and petroleum gas.
The global flow meters market by industry vertical is classified into water & wastewater, food & beverages, oil & gas, chemicals, power generation, pulp & paper. The gas & oil segment is anticipated to witness highest CAGR over the forecast period. This is due to the high growth of gas and oil industry in the growing economies which in turn enhances the growth of the flow meters.
Geographically, the flow meters market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. Asia pacific is expected to be the growing region in the forecast period due to large number of production of flow meters in regions such as China and India. Emerging economies are making investments in the refining, energy and power, chemicals, industrial infrastructure activities which has significantly contributed towards the growth of the flow meter market in Asia Pacific. Production cost in this region is lower when compared to the other regions worldwide.
Some of the major players operating in this market include ABB Ltd. (Switzerland), Honeywell (US), Siemens (Germany), Yokogawa Electric (Japan), Emerson Electric Co. (US), Krohne Messtechnik (Germany), Azbil (Japan), Badger Meter (US), Schneider Electric (France), Endress Hauser (Switzerland).
The report analyses the flow meters market based on type, end-user industry and by geography.
The global flow meters market by industry vertical is classified into water & wastewater, food & beverages, oil & gas, chemicals, power generation, pulp & paper. The gas & oil segment is anticipated to witness highest CAGR over the forecast period.
Some of the major players operating in this market include ABB Ltd. (Switzerland), Honeywell (US), Siemens (Germany),
Geographically, the flow meters market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which include Latin America, and Middle East & Africa.
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