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Flow Meter Market worth swell by 6.3% from 2019 to 2026

02-13-2020 07:01 PM CET | Energy & Environment

Press release from: allied market research

High adoption of flow meters in industrial measuring applications and recent advancements in flow meter technology have boosted the growth of the global flow meter market. However, high cost of flow meter and requirements of skilled labor hamper the market growth. On the contrary, trend for process automation across the manufacturing and process industries is expected to create lucrative opportunities in the near future.

According to the report, the global flow meter industry was pegged at $7.37 billion in 2018 and is projected to reach $11.9 billion by 2026, registering a CAGR of 6.3% from 2019 to 2026.

The ultrasonic segment to manifest fastest CAGR through 2026

The ultrasonic segment is expected to register the fastest CAGR of 6.9% during the forecast period, owing to increased reliability, reduced pressure drop, and relatively higher accuracy. However, the differential pressure segment held the largest share in 2018, contributing to more than one-fourth of the global flow meter market.

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Asia-Pacific held the largest share, followed by Europe and North America

The global flow meter market across Asia-Pacific held the largest share in 2018, contributing to nearly two-fifths of the market, owing to high manufacturing base of industries including food & beverages, chemical, textile, refining, and water & wastewater treatment.

The power generation segment held the largest share

The power generation segment dominated the market in 2018, accounting for nearly one-third of the global flow meter market. The flow meter offers several benefits including accurate flow measurement of conductive feedwater flow, ensuring the lowest level of emission, and improving energy processing capacities.

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Major market players
o Honeywell International Inc.
o Emerson Electric Company
o Siemens AG
o Schneider Electric SE
o ABB Ltd
o Azbil Corporation
o Yokogawa Electric Corporation
o Hitachi, Ltd.
o Badger Meter Inc.
o KROHNE Messtechnik GmbH

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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