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Thermal Flow Meter Market Shares,Trend and Growth Report 2024
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The major factor driving the growth of thermal flow meter market is due to the increasing demand for continuous emissions monitoring systems (CEMS). Continuous emission monitoring systems is used to continuously record, collect and report the required data related to emission of gasses. Increased government regulations and policies to check environment pollution is driving the demand for continuous emission monitoring systems. This is further leading to the growth of the thermal flow meter market during the forecast period. Moreover, demand for technologically advanced thermal flow meters by end user industries is paving new opportunities for various players in the market.
Need for effective product differentiation is considered as the major challenge faced by various players in the market. This is also considered as a major factor restraining the growth of the market during the forecast period. However the overall thermal flow meter is expected to grow during the forecast period owing to the increased expenditure on oil & gas, chemical and other industries.
The market is segmented on the basis of end users by: oil & gas industries, water and waste treatment, food and beverages industry, chemical and petrochemical industries, pulp and paper industries and others. Increasing application of thermal flow meters from various industries is further driving the overall growth of the market. The market can be further segmented on the basis of type into: insertion thermal flow meter, portable thermal flow meters, portable thermal flow meters and Inline thermal flow meters. The sensors used in thermal flow meters includes temperature sensors and flow sensors.
The market is segmented on the basis of geography into four broad segments: North America, Asia pacific, Europe and Rest of the World (ROW). Presently, Asia Pacific is a major contributor to the thermal flow meter market in terms of revenue and is expected to see robust growth during the forecast period. The growth in this region is attributed to the increasing number of industries in the region. Furthermore, increasing expenditure on infrastructure in this region is driving the market growth.
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The key players in this market are: ABB Ltd., Emerson Electric Co., GE Electric Co., Bronkhorst High-Tech B.V, Eldridge Products, Inc., Sage Metering Inc., Sierra Instruments Inc., Kurz Instruments Inc., Thermal Instrument Company, Fluid Components International LLC, Fox Thermal Instruments, Inc., Aalborg Instruments & Controls, Inc., Brooks Instruments, LLC, TSI Incorporated, and Vogtlin Instruments AG.
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