Flowmeter Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Flowmeter Market: Snapshot
Also known as flow gauge and flow rate sensor, flowmeter is witnessing a high demand, especially on back of strides in the oil and gas sector. Increasing demand for the measurement of flowrate in waste water and water management all over the world due to scarcity of water is foreseen to fuel the growth in global flowmeter market.
Flowmeter is broadly embraced in the sectors, for example, oil and gas, pulp and paper, food and beverages, and power production. Integration of internet of thing (IoT) into flowmeter makes its all the more in demand in several industries. Consequently, expanding demand with respect to smart flow rate measurement solutions from different enterprises are likewise foreseen to fuel the global flowmeter market. Stream meter improves the effectiveness and unwavering quality of fluid flow rate estimation.
Currently, the most extreme demand is originating from the oil and gas industry. This industry is vigorously contributing on inventive solutions and items for estimating flow rate of gases, fluids, and vapors. Developing demand regarding smart meters from this sector, and high rise of innovation in the oil and gas sector are accepted to fuel demand with respect to smart flow stream rate measurement gadget, which thus is relied upon to support the global flowmeter market.
Selection of these meters is relied upon to be especially huge in the petroleum and chemical and oil and gas refinery divisions. This is inferable from ongoing detection of shale gas reservesin Europe, Asia Pacific, and North America.
Global Flowmeter Market: Overview
The global flowmeter market has witnessed steady growth over the years, owing to the convenience it provides to the oil and gas industry. Flowmeter is a device used in measuring the mass and volume of liquid and gas. Depending on the specific industry, this device is referred by many names such as flow indicator, flow gauge, liquid meter, and flow rate sensor. Open channels such as streams or rivers can also be measured with flowmeters. This device also provides accuracy and resolution in fluid measurement.
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Global Flowmeter Market: Trends and Opportunities
Flowmeter is mainly used to provide precise monitoring and flow control. Many industries such as aerospace require accuracy while calculating the quantity. Flowmeter also helps in measuring water flow in a vineyard with high accuracy. Such benefits are believed to be driving the global flowmeter market. Apart from these, growing demand for flow rate measurement in wastewater and water management, and rising adoption of flow rate measurement instruments and technologies in various industries are also expected to boost the global flowmeter market.
Flowmeter is widely adopted in the industries such as pulp and paper, oil and gas, power generation, and food and beverage. Rapid incorporation of technology and Internet of Thing (IoT) into flowmeter makes its more demanding to various industry. Thus, increasing demand for smart flow rate measurement solutions from various industries are also anticipated to fuel the global flowmeter market. Flow meter enhances the efficiency and reliability of liquid flow rate measurement.
However, lack of skilled professional, high costs of advanced flowmeter, and lack of understanding about smart flow meter’s operational processes may hinder the growth in the global flowmeter market. Nonetheless, such deterrents may not impact the momentum expected in the global flowmeter market in the near term.
Global Flowmeter Market: Market Potential
At present, maximum demand is coming from oil and gas industry. This industry is heavily investing on innovative solution and products for measuring flow rate of gases, liquids, and vapors. Growing demand for intelligent meters from this industry, and high emergence of technology in the oil and gas industry are believed to be fueling demand for smart flow rate measurement device, which in turn is expected to boost the global flowmeter market.
Global Flowmeter Market: Regional Outlook
Geographically, Asia Pacific is expected to lead the global flowmeter market as the region has seen rapid urbanization. Rising demand for adequate power generation, and growing need for wastewater management could also be responsible for fueling the global flowmeter market in the region.
Global Flowmeter Market: Competitive Dynamics
Some of the prominent players operating in the global flowmeter market are Emerson Electric, KROHNE, Honeywell, ABB, Siemens, Landis+Gyr.
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