NEW YORK, Sept. 5, 2016 /PRNewswire/ --
"Increasing demand for ultrasonic flow meters to drive the flow meters market"
The market size of flow meters is estimated to reach USD 6.00 billion in 2015 and is projected to reach USD 8.72 billion by 2021, registering a CAGR of 6.4% between 2016 and 2021. The market for flow meters is largely driven by the rising demand for accurate measuring instruments from water & waste water and oil & gas industries. There is an increased demand for reliable flow meters which is driving the market of ultrasonic and coriolis flow meters.
"Oil & gas is the fastest-growing market of flow meters"
Owing to its properties such as safety, accuracy reliability, availability and efficiency, flow meters are used in various applications of oil & gas. This includes its use in custody transfer measurement, mass flow measurement of crude oil, fluid loss & leak detection, process gas flow, hydraulic fluid flow sensing, among others. The rising demand for flow meters in Middle East & Africa and Asia-Pacific are expected to boost the growth of the flow meters market in the oil & gas industry.
"Asia-Pacific to dominate the market during the forecast period"
The rising demand for smart flow meters is driving the growth of the flow meters market in Asia-Pacific. The market in the region is driven by the increased demand from China and India. China is the largest market in the region. Oil & gas, pharmaceutical and food & beverage industries are gaining momentum in the region which is estimated to drive the market for flow meters. These are the major end-use industries of flow meters in this region. Thus, the demand for flow meters in the region is increasing. Furthermore, the rising demand from water & waste water industry is estimated to boost the growth of the flow meters market in the region.
The process of determining and verifying the market size of several segments and sub-segments gathered through secondary research and extensive primary interviews was conducted as follows:
- By Company Type: Tier 1 (29%), Tier 2 (57%), and Tier 3 (14%).
- By Designation: C-level (46%), Director Level (31%), and others (23%)
- By Region: North America (24%), Europe (28%), Asia-Pacific (29%), Latin America (14%), and the Middle East & Africa (5%).
Various key players profiled in the report include Siemens AG (Germany), Emerson Electric Co. (U.S.), ABB Ltd. (Switzerland), Yokogawa Electric Corporation (Japan), Endress+Hauser Management AG (Switzerland), Honeywell International Inc. (U.S.), Azbil Corporation (Japan), Badger Meter Inc. (U.S.), Krohne Messtechnik GmbH (Germany), and Schneider Electric (France).
Reasons to buy this report:
This research report is focused on various levels of analysis—industry analysis (industry trends), market share analysis of the top players, supply chain analysis, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the flow meters market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on flow meters offered by the top players in the flow meters market
- Product Development/Innovation: Detailed insights on emerging technologies, R&D activities, and new product launches in the flow meters market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the flow meters market across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the flow meters market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the flow meters market
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