The intelligent flow meters market was valued at US$5.983 billion in 2017 and is projected to expand at a CAGR of 6.25% over the forecast period to reach US$8.610 million by 2023. Intelligent flow meters are used for the volumetric measurement of the fluid with high accuracy and precision. Ultrasonic flow meters are gaining popularity due to the features like flexible mounting, reduced pressure loss and measurement of a fluid flowing from a large cross-sectional area. These are widely used in industrial and commercial applications which include oil and gas, food and beverages and power generation to check the fluid flow inside pipes as well as to maintain the fluid flow. Intelligent flow meters are electronic meters which do not involve any moving parts and remain unaffected from temperature, viscosity, density and any suspended particulates. Conservation of fluids for the sustainable development and rising awareness about the benefits of the intelligent flow meter are also contributing to the market growth. Asia Pacific region holds a significant market share for the intelligent flow meters market due to the rising demand of the highly accurate and precise equipment for flow calibration and increasing investment in the field of process automation.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical region. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the intelligent flow meters value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the intelligent flow meters market.
Major industry players profiled as part of the report are Emerson Electric Co., General Electric, Yokogawa Electric Corporation, Brooks Instrument and ABB among others.
The Intelligent flow meters market has been analyzed through following segments:
- By Technology
- ·Intelligent Ultrasonic Flowmeters
- ·Intelligent Vortex Flowmeters
- ·Intelligent Electromagnetic Flowmeters
- By Industry Vertical
- ·Oil and Gas
- ·Water and Wastewater
- ·Paper and Pulp
- By Geography
- ·United States
- ·Europe Middle East and Africa
- ·United Kingdom
- ·Asia Pacific