Global Flow Meter Market, By Type (Differential Pressure, Ultrasonic, Turbine, Magnetic, Positive Displacement, Vortex, Coriolis and Others), By Industry Vertical (Oil & Gas, Water & Wastewater, Power Generation, Food & Beverage, Healthcare, and Others) opportunities and forecast 2020-2027.
Flow Meter Market Overview
The global Flow Meter market is expected to grow at a moderate rate during the forecast period. Factors such as increasing demand for flow meter for use in the oil & gas and water sectors are contributing to the growth of this market across the globe.
Furthermore, the development of innovative products and expansion in the application area are also major factors contributing to the growth of the market.
However, a rapid decline of oil prices and economic slowdown are likely to restrain the market growth.
Covid-19 Impact on Flow Meter Market:
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Flow Meter Market Segment Overview
Based on type, the market is segmented into differential pressure, ultrasonic, turbine, magnetic, positive displacement, vortex, Coriolis and others. The differential pressure segment dominated the global market in 2020 however and is also expected to grow at the highest CAGR during the forecast period.
Based on industry vertical, the global flow meter market is segmented into oil & gas, water & wastewater, power generation, food & beverage, healthcare, and others. The oil & gas segment dominated the global market in 2020 however, the Water & Wastewater segment is expected to grow at the highest CAGR during the forecast period.
Market Analysis, Insights and Forecast – By Industry Vertical
· Oil & Gas · Water & Wastewater · Power Generation · Food & Beverage · Healthcare · Others
Flow Meter Market Regional Overview
Region-wise, Asia Pacific dominated the global Flow Meter market due to increasing investments. The concentration of key vendors in this region encourages the development and adoption of Flow Meter. Huge investment in water & wastewater, energy and power, refining, chemicals, pulp & paper and industrial infrastructure activities is anticipated in the region . The market is highly unorganized in the Asia Pacific region, owing to the presence of a large number of dominating local/regional manufacturers.
Flow Meter Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Flow Meter Market Competitor overview
Some key developments and strategies adopted by manufacturers in Flow Meter are highlighted below.
· On February 2018, At the Electronica and COMPAMED 2018 trade fairs, Sensirion presented its liquid flow sensor, the SLF3S-1300F. Combining Sensirion's excellent 20-year track record in low and lowest flow rate sensing with a radically optimized mechanical design, the SLF3S-1300F took the well-established functionality to the next level in price-performance ratio.
