Press release
Flow Meter Market Is Poised To Grow At A Steady Clip Of 5.5% CAGR By 2031
From 2019 to 2029, the global Flow Meter Market will grow at an astounding 33% CAGR. Controlled airspace accounts for more than three-fourths of the global market and is expected to generate a $3 billion absolute dollar opportunity between 2021 and 2031.Read Report Overview: https://www.factmr.com/report/4630/flow-meter-market
Key Takeaways of Flow Meter Market Study
Europe and North America lead global sales with a collective share of over 56% of the total market value. Resurgent oil & gas exploration initiatives are central factors that drive growth of flow meters in these regions.
Multiplying demand for electricity to empower booming digital economies position the power generation segment as the leading application of flowmeter products.
Magnetic flow meter will grow 1.4X during the forecast. This can be attributed to beneficial properties of this variant such as negligible pressure loss, large measuring range, and utilization of non-moving parts which makes it ideal for a variety of use cases.
Food & Beverage applications of flowmeter products are set to offer the most lucrative growth opportunities with a robust 7% CAGR during the forecast period. The increasing need for precision in product quantities and manufacturing processes supports growth of this segment.
South Asia & Oceania present the highest growth rate at an impressive 7.2% through 2029. Developing economies in this region are employing flow meter products in water & wastewater treatment initiatives along with oil & gas projects.
"The future of flowmeter products is automation. Integration of Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) with flowmeter products will provide sustainable revenue opportunities. Market players must focus on both, product innovation and capacity expansion in order to stay ahead of their competitors." -Says FactMR Analyst
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Major players in the market that shape the competitive landscape are, but not limited to
ABB
Emerson Electric Co.
em-tec GmbH
Endress+Hauser Management AG
General Electric
Hitachi Ltd.
Honeywell International Inc.
Höntzsch GmbH
KROHNE Messtechnik GmbH
Siemens
VSE Volumentechnik GmbH
Yokogawa Electric Corporation.
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Key Segments of the Flow Meter Market
Fact.MR's study on the automotive remote diagnostics market offers information divided into four key segments- product, application, vehicle and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
By Product :
Diagnostics Equipment
Software
By Application :
Vehicle System & Component Access
Vehicle Health Tracking & Diagnosis
Service Assistance
By Vehicle :
Passenger Cars
Compact
Mid-Sized
Luxury
SUV's
Light Commercial Vehicles
Heavy Commercial Vehicles
By Region :
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
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What Do You Get in a Fact.MR Study?
Factors affecting the overall development of the global Flow Meter Market
Factor that might restrain the growth of the global market in the coming years of the forecast period.
What is present competitive scenario of the global Flow Meter Market and its intricate details concerning potential business prospects of leading market players
Pricing strategies of several different market players in the global Flow Meter Market
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