According to the new market research report by IndustryARC titled “Flow Sensors Market: By Type (Velocity Flow, Differential Pressure Flow, Mass Flow, Others); By Technology (Coriolis, Electromagnetic, Ultrasonic, Thermal, Others); By Industry (Automotive, Manufacturing, Oil & Gas, Petrochemical, Healthcare); By Geography - (2018-2023)”, the market is driven by the rising demand for accurate flow measurements and the growing need to monitor and control the flow.
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APAC continues to lead the market share and growth during 2018-2023.
The APAC region held the largest share in the flow sensors market in 2017, followed by Americas and Europe. It generated a revenue of $2.52 billion in 2017, and is expected to grow at a CAGR of 10.5%. The high CAGR is attributed to the growing demand for new flow sensors technologies such as electromagnetic and Coriolis, and the increasing number of applications for flow sensors such as HVAC and in the aerospace industry.
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In addition to that, increase in flow sensors shipments in regions such as China, Japan and India is fueling the growth. Flow sensors find increased market penetration in the APAC region.
The American region generated a revenue of $1.98 billion in 2017 and is expected to grow at a CAGR of 6.3%. The low CAGR is due to the market saturation in this region; not much increase has been seen in the applications of flow sensors in this region. The stringent government regulations such as the IEC and the NSF are being imposed in this region which affects the market
Selected / Sample Analysis done in the full Report:
There are various stages at which value is added to flow sensors and flow meters. The areas where value is added include component manufacturers (semiconductor industry), assembly and manufacture of flow meters, distributors, calibration services and for the end users.
Component Manufacturers (Semiconductor Industry): The major components of flow sensors are the various electronics switches, relays, amplifiers and connectors. These components are supplied by the semiconductor industry. These parts are relatively easy to source and manufacture. Thus, the value added at this stage is low. The major companies with a stake in this segment are electronics manufacturers, including Texas Instruments, Freescale Semiconductors, ST Microelectronics and Micron technology.
Assembling and Manufacture of Flow meter: The major components of a flow meter are flow sensors, transmitters, displays and casing. Flow sensors and transmitters are the key components, which are manufactured by major automation companies. The major value to a flow meter is added at the assembling stage. . The assembly process involves fabrication of the components into a flow meter. The major companies with a stake in this segment are Honeywell, ABB, Siemens, Endress+Hauser and Emerson.
Distributors: Distributors use their wide distribution network to supply industries with flow meters. Distributors are required to reduce the administrative costs and increase exposure of the product while simultaneously targeting the process industries. However, most flow meter manufacturers handle the distribution aspect themselves. There is a low value added at this stage due to the dearth of companies that use a distribution company.
Calibration Services: Flow meters can be used for a variety of applications. To accurately function, the flow meters need to be calibrated. Calibration involves setting the measurements of the flow meter for the required application. Calibration is usually performed through correlation with a standard device. The calibration services are also performed utilizing the conditions of the flow meter application such as temperature, density and viscosity which affects the performance and accuracy. Calibration services are also required at regular intervals as wear and degradation of the flow meter reduce accuracy. Calibration services are a key component in the flow meter value chain. The major companies offering calibration services include Sierra Instruments, Intertek, Ceesi, Bronkhorst and RS Hydro.
End User/ Customer: The major end users for flow meters include oil and gas, chemical, food and beverage and waste water management industries. The addition of novel flow meter technologies has also opened up new opportunities in paper and pulp industry. The increased adoption of flow meters is due to the changing environmental regulations which require measurement of pollutants released by the industry.
The flow meter value chain begins with the manufacture of components by the semiconductor industry. After the manufacture of components, the flow sensors and transmitters are manufactured and assembled to produce flow meters. This involves the manufacture of transmitter, either outsourced or by the flow meter company itself. The transmitter is a key component of the flow sensors value chain. The next process involves operating the distribution channels for sales of flow meters. After the sale, calibration services are provided for the device in order to improve the accuracy of the application of the flow meter. The flow meter is utilized by the end user after calibration.
Excerpts on Market Growth Factors Mentioned in the Full Report:
The new installation of flow sensors across many industries and the development of new technologies are driving the growth of this market.
Shale gas revolution in North America, which led to an increased adoption of flow sensors and the increasing demand for accurate measurements which maximizes the profits, is the major factor that propels the market growth.
The increasing application of flow sensors in paper and pulp industry is expected to lead to an increased customer base.
Key Players of the Flow Sensors Market:
Key players for the Flow Sensors Market comprise of ABB AG, Siemens AG, Emerson Electric, Honeywell and G.E.
ABB operates in six main segments namely Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products, Power Systems, Corporate and others. The Process Automation segment includes products like on-line sensors, control systems and automation technologies. Flow sensors fall under this segment. Siemens is expanding its product portfolio with innovative products and services to cater to the end-user. Emerson Electric has many different types of flow measurement products which can broadly be divided into 2 brands- Micro Motion and Rosemount. The F series launched recently by Emerson Electric presents the most accurate Coriolis flow meter currently available, enhancing its brand image. Honeywell has focused on launching innovative products to bolster its product portfolio, while penetrating high growth markets in APAC region.
Flow Sensors Market Report is Segmented as below.
Flow Sensors Market By Type:
Development of new Technologies Propel Velocity Flow Sensors Market
Differential Pressure Flow Sensors
Positive Displacement Flow Sensors
Development of Newer Technologies Resulted in Decline in the Positive Flow Sensors Market
Mass Flow Sensors
Increased Penetration of Mass Flow Sensors Despite High Cost
Open Channel Flow Sensors
Velocity Flow Sensors
Flow Sensors Market By Technology:
Low Maintenance Costs Spur Electromagnetic Flow Sensors Market Demand
Venturi Flow Sensors
Oval Gear Adoption rate Dissuaded due to Reliability Drawbacks
Turbine Flow Sensors
Vortex Flow Sensors
Growing Applications and Development of New Technologies increase Vortex Flow Sensors Penetration
Electromagnetic Flow Sensors
Reliability and Cost-Effectiveness Driving the Electromagnetic Flow Sensors to Dominate the Market
Ultrasonic Flow Sensors
Coriolis Flow Sensors
Coriolis Sensors Market Driven By Increasing Water Quality Governmental Regulations
. Thermal Flow Sensors
Flow Sensors Market By End Use Vertical:
Growing Oil and Gas Industry Propels Flow Sensors Market Growth
Oil and Gas
Food and Beverage
Chemical & Pharmaceutical
Pulp and Paper
HVAC and Energy
Flow Sensors Market By Geography ( Covers 12+ Countries )
Flow Sensors Market Entropy
Companies Citied / Interviewed
FMC Technologies Inc
Fuji Electric Co. Ltd.
Vega Grieschaber KG
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