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Mass Flow Controller Market Share, Opportunities Analysis, Recent Trends, Regional Growth And Outlook By 2033
Mass Flow Controller Market
According to The Business Research Company's, The mass flow controller market size has grown strongly in recent years. It will grow from $1.46 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to semiconductor industry growth, medical and pharmaceutical applications, environmental monitoring, energy sector dynamics, chemical processing industry, electronics manufacturing..
The mass flow controller market size is expected to see strong growth in the next few years. It will grow to $1.92 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to clean energy initiatives, focus on environmental sustainability, pharmaceutical research and production, precision agriculture, automotive industry needs, smart cities and infrastructure.. Major trends in the forecast period include digitalization and industry 4.0 integration, micro and miniaturized mfcs, advanced sensor technologies, customization and modular designs, integration with plcs and scada systems..
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Market Drivers and Trends:
Increasing demand in the semiconductor industry is expected to propel the growth of the mass flow controller market going forward. Semiconductors are pure elements that have conductivity between non-conductors/insulators and conductors. A mass flow controller is a device that controls the flow rate by measuring the mass flow rate of fluids and gases. It is used to control and measure the gases that are used in the semiconductor chip-making process. For instance, according to The Semiconductor Industry Association, a US-based trade association and lobbying group that represents the United States semiconductor industry, the global semiconductor industry sale was $49.0 billion in July 2022, an increase of 7.3% over the July 2021 total of $45.7 billion. And in 2021, the global semiconductor industry sold a record 1.15 trillion semiconductor chips. Therefore, increasing demand in semiconductor industries is driving the growth of the mass flow controller market.
Technological advancements have emerged as a key trend gaining popularity in the mass flow controller market. Major companies operating in the mass flow controller market are focused on innovating new technologies to sustain their position in the market. For instance, in April 2022, Bronkhorst, a Netherlands-based developer, and manufacturer of low-flow mass flow meters or controllers launched the FLEXI-FLOW Compact, a completely new mass flow controller product line. This new FLEXI-FLOW Compact measures and controls the gas flow and temperature, but along with this, it is also used to control and measure the downstream and upstream pressures in the process with this one flexible instrument. This new instrument provides flexibility in usage saves space and helps with weight reduction.
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Major Key Players of the Market:
Bronkhorst High-Tech BV; Aalborg Instruments & Controls Inc.; Alicat Scientific Inc.; Azbil Corporation; Brooks Instrument LLC; Burkert Fluid Control Systems; Dwyer Instruments Inc.; FCTechnik AG; Hitachi Metals Ltd.; Horiba Ltd.; Parker Hannifin Corporation; Sensirion AG; Teledyne Hastings Instruments; Tokyo Keiso Co. Ltd.; Vögtlin Instruments GmbH; MKS Instruments Inc.; Sierra Instruments Inc.; JK Products & Services Inc.; New Hills Pumping Inc.; Cimex Controls Inc.; Advitech Inc.; FLSmidth and Co. A/S; Emerson Electric Co.; Flowserve Corporation; Baker Hughes Company; Metso Corporation; CIRCOR International Inc.; IMI plc; Neway Valve Co. Ltd.; Siemens AG; Honeywell International Inc.; Velan Inc.; Valvitalia SpA; Conbraco Industries Inc.
Mass Flow Controller Market 2024 Key Insights:
• The mass flow controller market will grow to $1.92 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Surging Semiconductor Industry Demand Propels Growth In The Mass Flow Controller Market
• Technological Advancements Drive Momentum In The Mass Flow Controller Market
• Europe was the largest region in the mass flow controller market in 2023
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