Market Scenario:
Flow Meter is an electronic instrument that is used to measure linear, non-linear, mass or volumetric flow rate of a gas or liquid during its transmission through a pipe. The demand of intelligent flow meter is increasing in order to improve flow calibration standard and reduce uncertainties.
The Intelligent flow meter are suitable choice for industrial environment due to the various benefit offers such as accuracy, precision, stability, and reliability. The Intelligent Flow meters are widely used in various industries such as chemical, food & beverages, oil & gas, metals & mining, pulp & paper, pharmaceuticals among others. The demand of Intelligent Flow meter is increasing for Oil & Gas application in order to calibrate the fluids accurately and precisely that in turn is helping the market of intelligent flow meters to grow. Also, the rising demand of intelligent flow meter in Chemical & wastewater industries is also supporting the market of intelligent flow meters. However, the high initial cost of intelligent flow meter is one the major restrain factors for the market growth.
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The market of Magnetic type of intelligent flow meter is expected to generate highest revenue in the forecast period due to absence of moving part that reduces the maintenance cost and also capable of measuring forward as well as reverse flow with equal precision.
Globally the Intelligent Flow Meter market is expected to grow at the CAGR of ~ 5 % from 2016 to 2022.
Latest Industry News
Utility-based technology company Itron Inc. has launched the Itron Intelis gas meter that can transform the gas distribution network from the one-way gas delivery mechanism to an interactive energy network delivering gas more safely and efficiently. 20 JUNE 2018
Rachio has launched Wireless Flow Meter that is a companion to its smart sprinkler controller that offers Wi-Fi connectivity. The meter can alert users to detected leaks and shut down the flow of water. 24 JUNE 2018
Segments:
The global Intelligent Flow Meter Market Research has been segmented on the basis of communication protocol, type, verticals, and lastly region. Based on the communication protocol, this market has been segmented into Highway Addressable Remote Transducer Protocol (HART), Modbus, Profibus, and others. By types, the market has been segmented into calorimetric, Coriolis, Doppler, electromagnetic, multiphase turbine, thermal, ultrasonic, vortex, and others. The verticals based segmentation covers chemical, food & beverages, metals & mining, oil & gas, power generation, pulp & paper, pharmaceuticals among others. Regarding food and beverages, products passing through pipes in bottling companies are filled into bottles.
Key Players
The prominent players in the market of Intelligent Flow Meter are- ABB Ltd. (U.S.), Sierra Instruments Inc. (U.S.), Nidec Corporation, (U.S.), Honeywell International Inc. (U.S.), Endress + Hauser AG (Switzerland), General Electric Company (U.S.), Azbil Corporation (Japan), Krohne Messtechnik GmbH (Germany), Siemens AG (Germany), Yokogawa Electric Corporation (Japan) and American Industrial Partners (U.S.) among others.
Regional Analysis
The regional segmentation of the global intelligent flow meter market segments the market into regional markets namely North America, Europe, Asia Pacific, and the Middle East & Africa (MEA). Among all regional markets, Asia Pacific is dominating the global market due to various factors. These factors include a high density of population, huge demand of measuring meters in the Oil & Gas industry, and increasing industrial development in this region, especially in China and India which are important country-based markets. Other important country-based markets in this region include Japan and South Korea, followed by the rest of Asia Pacific.
During the forecast period, the North American market is also showing healthy growth due to the technological advancement in this region, a large number of shale gas projects, oil fields presence, and lastly many key players of the market are based here. The biggest markets in this region are the United States of America (USA) and Canada. Due to the rapid growth of industrial, infrastructural activities, Europe is also expanding as a market. Factors including growing demand for accurate and precise flow measuring devices are driving the market in this region. The most significant markets in this region include France, Germany, Italy, Spain, and the United Kingdom, followed by the rest of Europe. The MEA region is a small market due to lack of education and lack of technological development.
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Intended Audience
- Original Equipment Manufacturer(OEMs)
- Product Manufacturer & Suppliers
- Flow Meter Suppliers
- Service Providers
- Research Organizations
- Technology consultants
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