Globally the Intelligent Flow Meter market 2020 commands more valuation, better investments, and faster growth prospects during the forecast period 2016 to 2022. This scenario has been predicted in the study by Market Research Future. The growth of the market would happen at a pace of ~ 5 %, claim researchers.
Top Impacting Factors
The intelligent flow meters are mainly used to quantify liquid and gas fluid movements. These flow meters are sited to gather information from the areas of interest. The meter is designed to ensure increased flexibility, easy deployment, and embedded intelligence for cooperatively delivering value-added services. These have been considered as crucial factors that led the market to a great extent until the present time.
The demand for intelligent flow meter is increasing from oil & gas applications to regulate fluids accurately and precisely. This, in turn, helps the market of intelligent flow meters to grow considerably. In fact, the rising demand for intelligent flow meter in chemical & wastewater industries is also supporting the market of intelligent flow meters.
Furthermore, with the evolving technologies in the ultrasonic measurement technology, the demand for intelligent flow meter is observed growing simultaneously, thus boosting the growth of the market to a great extent. With this, the rising requirement of precision in the oil and gas industry to calibrate the fluids accurately, intelligent flow meters are widely deployed globally, which in turn, is fuelling the growth of the global intelligent flow meter market size.
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Global Intelligent Flow Meter Market: Restraints
The early high price of intelligent flow meter is considered as a key restraining element to the growth of the global intelligent flow meter market. Besides, less accuracy and delicacy in the intelligent flow meter is yet another prime factor posing as a challenge to the global intelligent flow meter market and its growth.
Segmentation of Market: Intelligent Flow Meter
Global Intelligent Flow Meter Market as per segmentation has included the segments of type, communication protocol, and Verticals.
The type segment has included multiphase turbine, calorimetric, electromagnetic, vortex, ultrasonic, doppler, thermal, and Coriolis.
The communication protocol segment has added Profibus, HART, and Modbus.
The vertical segment has included power generation food & beverages, chemical, metals & mining, oil & gas, pharmaceuticals, and pulp & paper.
The Asia Pacific is the largest market for intelligent flow meters in support of rapid industrialization and augment in oil and gas demands. Asia-Pacific is leading the market due to mounting industrial development and colossal demand for measuring meters in the Oil & Gas industry. The high demand for intelligent flow meters in measurement processes among countries of China and India, thus fuelling the market of the intelligent flow meter to achieve new heights in the upcoming future. North-America is also showing healthy growth due to a large number of shale gas projects and oil fields present in the region. The Intelligent flow meter market in Europe is also expanding due to rapid industrial infrastructural activities and the growing demand for accurate and precise flow measuring devices in this region.
The Middle East and Africa regions are the second-largest shareholders in the consumption of the intelligent flow meter market.
North America also accounts for a preferred share of consumption of intelligent flow meters. North-America is also showing healthy growth owing to the vast number of shale gas projects and oil fields. Europe is also expanding in support of rapid industrial infrastructural activities and growing demand for exact and precise flow measuring devices in this region.
Top Market Players
The foremost companies involved in the manufacturing and production of intelligent flow meters are listed as Endress+Hauser AG (Germany), Emerson Electric Company (U.S), Honeywell International Inc. (U.S), ABB limited (Switzerland), Yokogawa Electric Corporation (Japan), Siemens AG (Germany), Brooks Instruments, Abzil Corporation, Krohne Messtechnik GMBH, General Electric Company, and others.
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