Market Overview:
The demand for intelligent flow meter is increasing in order to improve flow calibration standard and reduce uncertainties because it can measure the flow rate of a gas or liquid during its transmission through a pipe. The Intelligent flow meter is in demand for the industrial environment due to the various benefits including accuracy, precision, reliability, stability. However, the high initial cost of the intelligent flow meter is likely to restrain the market growth.
Market Research Future (MRFR) has published a research report that surmises surge for the global Intelligent Flow Meter Market with 5% CAGR (Compound Annual Growth Rate) between 2016 and 2022. Analyzing the market structure, this report evaluates the future growth potential and observes the strategies of the key players in this market. It also tracks the competitive developments such as joint ventures, mergers, and acquisitions, new product developments, new product developments (R & D) in the market.
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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.
Segments:
The global intelligent flow meter market 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.
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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About Market Research Future:
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