Press release
Steam flow meter market to Witness Exponential Growth by 2025
The steam flow meter is designed to measure saturated steam through a pipe and generates a mass flow rate of steam based on this measurement and calculations. Steam flow measurement applications are very different, and each state has its own engineering requirements and restraints. The steam flow meter is called by different names include steam flow indicator, steam flow gauge, etc. but it depends on the certain industry whereas the function remains the same. The steam flow meter is widely used in oil & gas, chemical, and petrochemical industry. It is very difficult to make accurate steam.
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Global steam flow meter market: Dynamics
High demand in refining and petrochemicals industries is one of the major driving factors which are fueling the growth of global steam flow meters market. Significant growth in equipment and machinery industries which are one of the key driving factors of steam flow meter across the globe, owing to its high demand for measuring the steam flow rates used for district heating. Another major driving factor of global steam flow meter market is the significant demand of steam flow meter in food & beverages industry, attributed to its wide use for steam flow rate measurement in the sterilization process.
The macroeconomic factor which drives the global steam flow meter market is the emerging economy includes Brazil, China and India and rapidly growing industrialization. High technical advancement in steam flow meters helps to increase work efficiency and reduce the time which is also driving the global steam flow meters market. Replacement of the obsolete flow meters with the new smart steam flow meters is fuelling the demand for steam flow meters. These smart steam meters are more efficient, accurate and reliable in steam flow rate measurement compared to the previous version of steam flow meters which helps to grow the steam flow meter market globally.
The key restraining factor which hinders to grow the steam flow meter market is the lack of skilled technician for the steam flow meter. Due to lack of training and knowledge, some technicians do not have proper skills to operate steam flow meters which will reduce the operational efficiency. Moreover, lack of specialized equipment is also hampering the growth of flow meters market. The rapidly growing chemical industry is expected to witness good opportunities for steam flow meter market globally.
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Global steam flow meter market: Regional Outlook
Based on the geographies, global steam flow meter market is segmented into seven regions – Latin America, Eastern Europe, Asia-Pacific excluding Japan, Western Europe, North America, Japan and Middle East & Africa. Among region mentioned above, North America accounts high market share in steam flow meter market across the globe followed by Western Europe. Asia-Pacific is estimated to witness high growth rate in global steam flow meter market, attributed to a high demand of steam flow meter in the chemical industry in this region. The Middle East & Africa region is also predicted to see a high growth rate in steam flow meter market globally due to its significant demand in Oil & Gas industry along with petrochemical industries. It is predicted to see positive growth in Japan of global steam flow meter market due to high usage in the automotive industry in this region.
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