NEW YORK, June 7, 2016 /PRNewswire/ -- The intelligent flow meter market is expected to reach USD 7.76 billion by 2022, at a CAGR of 5.4% between 2016 and 2022. The growth of this market can be attributed to the benefits of accuracy, stability, and reliability offered by intelligent flow meters and high demand for these flow meters in the chemicals and water & wastewater industries. The rising investments in industrial infrastructure activities and growing use of intelligent flow meters for diagnostic information, along with measurement data, are also supporting the growth of the market.
"Market for magnetic flow meters to hold a significant share of the intelligent flow meter market during the forecast period"
The absence of moving parts in magnetic flow meters and the high demand for the measurement of dirty water are some of the major factors that are driving the growth of the market for magnetic flow meters. The ability to measure forward as well as reverse flow with equal accuracy is an important feature of these flow meters, which is also leading the implementation of magnetic flow meters in various applications. A magnetic flow meter can handle almost all liquids and slurries only if the material being metered is electrically conductive. The market for these flow meters is expected to hold the largest share of the intelligent flow meter market during the forecast period.
"Intelligent flow meter market in APAC expected to witness the highest growth during the forecast period"
Increasing investments in the field of process automation in APAC, along with the growing demand for accuracy in measurement processes in countries such as China and India, are driving the growth of the market for intelligent flow meters. The intelligent flow meter market for various applications such as chemicals, pharmaceuticals, and water & wastewater among others is expected to grow with the increase in new industrial infrastructural activities, which are expected to implement intelligent flow meters on a large scale. Magnetic flow meters are expected to hold the largest share of the intelligent flow meter market in the future, owing to their benefit of offering higher accuracy and low maintenance cost due to the absence of moving parts.
Break-up of the profile of primary participants for the report is as given below:
- By Company Type - Tier 1 – 52 %, Tier 2 – 29%, and Tier 3 – 19%
- By Designation – C-Level Executives – 36%, Directors– 31%, and Others – 33%
- By Region – North America - 52%, Europe – 12%, APAC – 29%, and RoW – 7%
The major companies involved in the development of intelligent flow meters include ABB Ltd. (U.S.), Azbil Corporation (Japan), Brooks Instruments (U.S.), Emerson Electric Co. (U.S.), Endress + Hauser AG (Switzerland), General Electric Company (U.S.), Honeywell International Inc. (U.S.), Krohne Messtechnik GmbH (Germany), Siemens AG (Germany), Sierra Instruments Inc. (U.S.), and Yokogawa Electric Corporation (Japan).
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the intelligent flow meter market; high-growth regions; and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market penetration: Comprehensive information on intelligent flow meters offered by the top players in the global intelligent flow meter market
- Product development/innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the intelligent flow meter market
- Market development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for intelligent flow meters across regions
- Market diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global intelligent flow meter market
- Competitive assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global intelligent flow meter market
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