Flow Sensors are devices used to directly or inferentially measure the
flow rate of the fluid.The flow sensor market can be segmented based on
the fluid characteristic that is measured, the end use industry for the
flow sensor and technology utilized in flow sensor. The global flow
sensors market generated revenue of $5.62 Billion in the 2014 and is
forecast to grow at a CAGR of 7.1% through 2020.
According to the report “Flow Sensors Market Analysis and Forecast By
Technology (Coriolis, Magnetic, Mass, Ultrasonic, Vortex, Thermal); By
Industry (Automotive, Manufacturing, Oil and Gas, Petrochemical,
Healthcare) - (2015 - 2020)”, the flow sensors market is estimated to
reach $8.49 Billion by 2020 to grow at CAGR 7.1%.
Browse 90 Market Tables, 70 Figures spread through 225 Pages and an in-depth TOC on “Flow Sensors Market Analysis”.
The rising demand for accurate flow measurements and the growing need to
monitor and control the flow are the key drivers for this market.
The growth in demand is primarily due to changing governmental
regulations. The mounting waste water management practices and
environmental regulations, especially APAC and South America, are
estimated to lead the increased adoption of flow sensors.
Recently, the U.S. government passed regulations to reduce greenhouse gas emissions in power plants and landfill sites.
In addition, European Union has also emphasized on reducing carbon
dioxide emissions and has set potential target of 20% less greenhouse
gases from 1990 to 2020.
MCERT regulations (robust monitoring of emissions through air, land and
water) have been approved in the U.K in order to curtail emissions.
Flow sensors can be classified based on the principle of working into
five major types including: velocity flow, mass flow, and differential
pressure sensors. The differential pressure and positive displacement
flow sensors are the oldest technologies in the flow sensors market.
The velocity, differential pressure and the mass flow sensors are the
dominant ones in the market. The improved accuracy of the newer flow
sensor types such as velocity and mass flow sensors has resulted in
increased demand due to replacement of the older types.
The shale gas revolution in North America has led to increased adoption
of flow sensors and the increasing need for accurate measurements which
maximize the profits.
Flow sensors are classified based on the type of technology into
electromagnetic, ultrasonic, orifice plate, coriolis, open channel and
pitot tubes and others. The new technologies such as ultrasonic,
coriolis, electromagnetic have already penetrated into the market and
are projected to provide tough competition for the existing
technologies.
The new installations and effective dispatch of flow sensors provides an impetus to the market growth.
Flow sensors are used in various industries including oil and gas,
chemical, pharmaceutical, food and beverage as well as consumer
applications such as HVAC. The increasing number of applications such as
in the paper and pulp industry has propelled the flow sensor market,
particularly the ultrasonic flow sensors segment.
The growth of the end use industries such as oil and gas, due to the
shale oil revolution, is projected to drive the flow sensors market.
The top five companies in the flow sensors market include;
• ABB AG (Switzerland)
• Emerson Electric Co. (U.S.)
• Endress+Hauser AG (Switzerland)
•
• Siemens AG (Germany)
These companies have a combined market share of 60% in the flow sensor
market. Though these companies have a dominant position in the market,
there are a few companies such as Krohne, Inc. (Germany), Omron (Japan),
Omega (U.S.), Yokogawa Ltd. (Japan), Toshiba (Corporation), Floe line
(U.S.) and so on which are providing a strong competition to the top
players in the market.
Flow sensor companies have concentrated on launching innovative products
and augmenting their product portfolio as their core strategy in order
to gain competitive edge in this growing market. New flow sensor
technologies such as coriolis, laser based and electromagnetic sensors
have been launched as they offer additional capabilities and increased
accuracy and reliability.
The development of innovative products is set to propel the flow sensors market.
Segmentation Based on Geography:
• America - U.S.A., Canada, Mexico, Brazil & Others
• South America - Brazil, Argentina & Others
• Europe - UK, Germany, France, Scandinavia &Rest of Eastern Europe
• APAC - China, Japan, Australia, India & Others
• Rest of the World - Middle East & Africa
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