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Flowmeter Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | ABB Group, Emerson Electric Co., Em-Tec GmbH, Endress+Hauser Management AG
Flowmeter Global Market Report
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Flowmeter industry. This report on Flowmeter market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The flowmeter market size has grown rapidly in recent years. It will grow from $9.02 billion in 2023 to $10.03 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to growth in emphasis on process optimization and efficiency in industries, increased demand for measurement and monitoring of fluids, expansion of process industries such as oil & gas, chemical, and petrochemical, adoption of automation and instrumentation in industrial processes, focus on water resource management and conservation. The flowmeter market size is expected to see strong growth in the next few years. It will grow to $14.44 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%.
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Key Market Players:
ABB Group, Emerson Electric Co., Em-Tec GmbH, Endress+Hauser Management AG, General Electric Company (GE), Hitachi Ltd., Honeywell International Inc., Höntzsch GmbH, KROHNE Messtechnik GmbH, Siemens AG, Yokogawa Electric Corporation, VSE Volumentechnik GmbH, Keyence Corporation, Schneider Electric SE, Saison Information Systems Co. Ltd., Azbil Corporation, Badger Meter, Max Machinery Inc., Omega Engineering EMEA, Scharf Automation Pvt. Ltd., Forbes Marshall, Kral AG, Electronet Equipments Pvt Ltd., SIKA Dr. Siebert & Kühn GmbH & Co., Sierra Instruments, Fluid Components International LLC, McCrometer Inc., KOBOLD Messring GmbH, ONICON Incorporated, Seametrics Inc., Vogtlin Instruments GmbH, Alicat Scientific
Market Drivers:
According to the Flowmeter Market Report 2024 by The Business Research Company, the key factors driving the growth of the Flowmeter market, includes the increase in pharmaceutical production is expected to propel the growth of the flowmeter market. A flowmeter is a device that measures a liquid or gas's linear, nonlinear, mass, or volumetric flow rate. For the manufacturing of pharmaceuticals, flowmeters are used to control extremely sensitive conditions such as pressure and temperature.
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Market segments for Flowmeter include:
1) By Type: Differential Pressure Flow Meter, Positive displacement Flow Meter, Ultrasonic Flow Meter, Turbine Flow Meter, Magnetic Flow Meter, Coriolis Flow Meter, Vortex Flow Meter, Others Flow Meter
2) By Application: Residential, Industrial, Commercial
3) By End User: Water and Wastewater, Oil and gas, Chemicals, Power Generation, Pulp and Paper, Food and Beverage, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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