Press release
Flow Meter Market Will Going To Be Worth $11.9 Billion By The End Of 2026
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.Based on type, the differential pressure segment contributed to the largest share in 2018, accounting for more than one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the ultrasonic segment is expected to register the highest CAGR of 6.9% from 2019 to 2026.
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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. Therefore, power plants largely depend on flow metering technology, which, in turn, boosted the flow meter market growth. thereby being the largest consumer in this market. However, the oil and gas segment is projected to register the fastest CAGR of 6.9% during the forecast period, as flow metering applications accounts greater importance in crude oil extraction activities.
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. However, the market across Europe is expected to reach Europe is expected to portray the fastest CAGR of 6.6% during the forecast period, owing to sustainable measures adopted by European Union over the past few years.
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Some of the major market players operating and profiled in the global flow meter market are Honeywell International Inc., Siemens AG, Emerson Electric Company, ABB Ltd, Schneider Electric SE, Yokogawa Electric Corporation, Azbil Corporation, Badger Meter Inc., Hitachi, Ltd., and KROHNE Messtechnik GmbH.
Covid-19 scenario:
The demand for flow meters has not been affected much during the coronavirus pandemic due to its application in essential services such as water & wastewater, power generation, and food & beverages.
However, the manufacturing activities and supply chain has been impacted during Covid-19 outbreak across the globe.
The report offers a detailed segmentation of the global flow meter market based on type, end user, and region.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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