According to the latest report by IMARC Group, titled, “Flow Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, provide the global flow meter market to exhibit moderate growth during the next five years.
The report provides a detailed analysis of the market by product type (Analog Flow Meter and Smart Flow Meter), application (Residential, Industrial and Commercial) and geography (Asia-pacific, Europe, Latin America, North America, and Middle East and Africa).
Flow meters, also known as flow indicators, are electronic devices that are utilized for measuring and controlling linear, nonlinear, volumetric or mass flow rate of a liquid, gas or vapor. Most of these meters work by forcing the flow through a confined space and analyzing different properties, such as pressure, temperature, density, viscosity, and change in the kinetic energy, for determining the flow rate of the fluid. As a result, they are widely employed across the globe to compute flare management in refineries, household utility consumption, and measure the flow of oil, fuel, water, paint as well as chemicals.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends and Drivers:
Flow meters are gaining traction in various end-use industries such as gas, water, HVAC, automotive, petroleum, food processing, and pulp and paper. The installation of flow meters aids in analyzing incurred cost, minimizing energy wastes and taking effective measures to save energy. Apart from this, governments in several countries are undertaking initiatives and introducing regulations to help conserve energy, thereby boosting the overall sales of flow meters. Moreover, manufacturers are launching innovative flow meters by incorporating the latest technologies to improve their functionality. For instance, the emergence of the Internet of Things (IoT) has resulted in the advent of smart flow rate measurement solutions.
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Flow Meter Market Segmentation:
The report has segmented on the basis of product type, application and geography.
By Product Type:
- Analog Flow Meter
- Smart Flow Meter
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Who are the Major Flow Meter Market Key players?
The report provides a detailed analysis of the market leaders, including.
- ABB Group
- Emerson Electric Co.
- Siemens AG
- Schneider Electric SE
- Saison Information Systems Co., Ltd.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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