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Flow Meters Market revenue to cross USD 10.5 Bn by 2027: Global Market Insights Inc.

·5 min read

Europe flow meters market is estimated to attain a CAGR of 4% through 2027 led by the presence of large pharmaceutical manufacturers in the region.

Selbyville, Delaware, July 20, 2021 (GLOBE NEWSWIRE) --

According to latest report “Flow Meters Market by Product Type (Thermal, Differential Flow, Coriolis, Ultrasonic, Vortex), Industry Vertical (Oil & Gas, Pharmaceutical, Food & Beverages, Chemical, Healthcare & Life Science, Semiconductor, Water & Wastewater Treatment), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of flow meter will cross $10.5 billion by 2027. The market growth is credited to the rising demand for smart monitoring and process automation in the industrial sector.

The demand for flow meters across the oil & gas industry for measuring and monitoring solutions to measure the flow rate of up/down stream processes, transfer of raw petroleum between tankers & ships, and fluid hydrocarbons is one of the major drivers for the market expansion. In addition, several initiatives for environmental protection, worker safety, process optimization, and product quality by the industrial OEMs are the factors augmenting demand for these instruments.

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The rising investments in R&D for the advancement of flow meter technology to offer industry-specific features & solutions, such as digital signals, multi measurement formats, remote calibration, online diagnostics, wireless communication, and others, will contribute to the flow meters market progression. For instance, in February 2021, Almac Sciences announced that it invested USD 7 million in a research & development facility for biocatalysis, flow measurement technology, and peptide businesses. The company is focusing on innovation and technological advancement for various applications in biotechnology, pharmaceutical, chemical, and life sciences sectors.

Coriolis segment held around 25% of the flow meters market share in 2020 led by the increasing requirement of smart flow monitoring systems in chemical, pharmaceutical, and water & wastewater treatment sectors. Coriolis flowmeters are twisted meters that measure mass flow rather than volumetric flow. These flow meters operate well under a variety of situations including temperature, pressure, viscosity, and fluid density. They offer several high-end advantages such as high dependability, low leakage rate, and precision flow monitoring of diverse liquids and gases, which are some of the growth fostering factors for the market.

Flow meters market for pharmaceutical segment captured 11.5% of revenue share in 2020 and is projected to witness 8.3% growth rate by 2027 on account of the increasing demand for process isolation, automated clean & drain ability, chemical synthesis, API extraction, and others in the healthcare sector. The rising demand for remote monitoring, diagnosing as well as controlling liquid flow measurement for the safety of the patent is accelerating the demand for flow meters in the pharma segment.

Europe flow meters market is anticipated to expand at 4% CAGR during 2021 to 2027 owing to the presence of large pharmaceutical manufacturers in the region, such as AstraZeneca, Pfizer Inc., and others. These companies are focused on high-volume manufacturing of medications and vaccines for various ailments. Furthermore, regional pharmaceutical companies are focusing on major investments in R&D operations, aiming to enhance pharmaceutical manufacturing even more.

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https://www.gminsights.com/roc/5075

Some of the major players operating in the market are ABB, Honeywell International Inc., Panasonic Corporation, Renesas Electronic Corporation, Siemens AG, TE Connectivity, Parker Hannifin CORP., and others. The companies are continuously strategizing for new product launch & innovation activities to gain a competitive edge in the market.

Some major findings of the flow meters market report include:

  • Rising demand for smart flow meters to monitor & regulate the flow of fluids accurately in oil & gas application fueling the industry growth.

  • The market demand is attributed to the technological advancements in ultrasonic sensors, since these sensors cater to industry-specific solutions. Wireless connectivity and compatibility with single and dual sensors have all been added to ultrasonic flow meters in recent years.

  • The COVID-19 pandemic severely impacted the flow meters market progression in the FY 2020. Lockdown and restriction in international trade resulted in slowdown of industrial activities, restraining the demand for flow meters.

  • Asia Pacific market is expected to showcase the highest growth during the forecast period propelled by the rising investments and initiatives taken by the government and manufacturers across industries for chemical processing and oil refinery plants.

Table of Contents (ToC) of the report:

Chapter 3 Flow Meters Market Insights

3.1 Industry segmentation

3.2 Impact analysis of corona virus (COVID-19) pandemic

3.2.1 Global outlook

3.2.2 Impact by region

3.2.3 Industry value chain

3.2.4 Competitive landscape

3.2.4.1 Strategy

3.2.4.2 Distribution network

3.2.4.3 Business growth

3.3 Industry ecosystem analysis

3.3.1 Raw material and component suppliers

3.3.2 Manufacturers

3.3.3 Distribution channel

3.3.4 End-user

3.3.5 Vendor matrix

3.4 Technology & innovation landscape

3.4.1 Clamp-on flow meter

3.4.2 accQpulse Velocity Profiler (Teledyne)

3.5 Regulatory landscape

3.6 Industry impact forces

3.6.1 Growth drivers

3.6.2 Industry pitfalls and challenges

3.7 Growth potential analysis

3.8 Porter’s analysis

3.9 PESTEL analysis

Browse Complete Table of Contents (ToC) @

https://www.gminsights.com/toc/detail/flow-meter-market

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

CONTACT: Contact Us: Arun Hegde Corporate Sales, USA Global Market Insights Inc. Phone: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: sales@gminsights.com