Flowmeter Global Market Report 2023: Increase in Pharmaceutical Production Drives Growth

DUBLIN, May 23, 2023 /PRNewswire/ -- The "Flowmeter Global Market Report 2023" report has been added to  ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global flowmeter market grew from $8.13 billion in 2022 to $8.93 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The flowmeter market is expected to grow to $13.13 billion in 2027 at a CAGR of 10.1%.

Major players in the flowmeter market are ABB Ltd., Emerson Electric Co., Em-Tec GmbH, Endress+Hauser Management AG, General Electric Company, Hitachi Ltd., Honeywell International Inc., Hontzsch GmbH, KROHNE Messtechnik GmbH, Siemens AG, Yokogawa Electric Corporation, VSE Volumentechnik GmbH, Keyence Corporation, Schneider Electric SE, and Saison Information Systems Co. Ltd. 

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The flowmeter market consists of sales of multiphase meters, volumetric flowmeters, mass flowmeters, and others . Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The flowmeter refers to a tool utilized to measure the linear, nonlinear, mass, or volumetric flow rate of a liquid or a gas. Flowmeter is also called a flow sensor. Open channels, such as rivers or streams, can be measured with flowmeters. Improving the accuracy, precision, and resolution of fluid measurement are some of the benefits of flowmeters.

Asia-Pacific was the largest region in the flowmeter market in 2022. Europe is expected to be the second largest region in the forecast period. The regions covered in the flowmeter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of flowmeters include differential pressure flow meters, positive displacement flow meters, ultrasonic flow meters, turbine flow meters, magnetic flow meters, Coriolis flow meters, and vortex flow meters. The differential pressure flowmeter consists of sales of differential pressure flow meters by entities (organizations, sole traders, and partnerships) that refer to the principle of partly cutting off the flow in a pipe. Differential-pressure meters are highly popular and it is estimated that at least 40% of industrial flowmeters in usage currently are differential-pressure devices.

The positive displacement flowmeter consists of sales of positive displacement flow meters by entities (organizations, sole traders, and partnerships) that refer to positive displacement flow meters, which are the only flow measuring technology to exactly measure the volume of fluid proceeded by the flowmeter. They are accessible in industrial grade, brass, or all-plastic construction. The main applications of flowmeters are in residential uses, industrial uses, and commercial uses. The flowmeters are used in multiple industries including water and wastewater management, oil and gas, chemicals, power generation, pulp and paper, and the food and beverage industries.

An increase in pharmaceutical production is expected to propel the growth of the flowmeter market. A flowmeter is a device that measures a liquid or gas's linear, nonlinear, mass, or volumetric flow rate. For the manufacturing of pharmaceuticals, flowmeters are used to control extremely sensitive conditions such as pressure and temperature. According to IBEF, the Indian pharmaceutical market grew 17.7% annually in August 2021, which is an increase from 13.7% in July 2020.

Furthermore, according to India Ratings & Research, the Indian pharmaceutical market revenue is expected to be over 12% Y-o-Y in FY22. Also, in the USA, according to Pharmaceutical Commerce, it is projected that by the year 2023, Americans would spend between $635 and $655 billion on medicine. This represents a 29.6 - 33.7% increase in expenditure as compared to 2019. Therefore, the rise in pharmaceutical production is driving the growth of the flowmeter market.

Technological Advancements are a key trend gaining popularity in the flowmeter market. Technological advancement is a discovery of knowledge that advances technology that may help the usage or production of a device, making it more efficient.

The countries covered in the flowmeter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Key Topics Covered:

1. Executive Summary

2. Flowmeter market Characteristics

3. Flowmeter market Trends And Strategies

4. Flowmeter Market - Macro Economic Scenario
4.1 COVID-19 Impact On Flowmeter Market
4.2 Ukraine-Russia War Impact On Flowmeter Market
4.3 Impact Of High Inflation On Flowmeter Market

5. Flowmeter market Size And Growth
5.1. Global Flowmeter Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Flowmeter Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Flowmeter market Segmentation
6.1. Global Flowmeter market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Differential Pressure Flow Meter
• Positive displacement Flow Meter
• Ultrasonic Flow Meter
• Turbine Flow Meter
• Magnetic Flow Meter
• Coriolis Flow Meter
• Vortex Flow Meter

6.2. Global Flowmeter market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Residential
• Industrial
• Commercial

6.3. Global Flowmeter market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Water and wastewater
• Oil and gas
• Chemicals
• Power Generation
• Pulp and Paper
• Food and Beverage

7. Flowmeter market Regional And Country Analysis
7.1. Global Flowmeter market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Flowmeter market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/wq9slh

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