Intelligent Flow Meter Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2022
Industry Insight
Globally the Intelligent Flow Meter
market 2020 commands more valuation, better investments, and faster growth
prospects during the forecast period 2016 to 2022. This scenario has been
predicted in the study by Market Research Future. The growth of the market
would happen at a pace of 5 %, claim researchers.
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Top
Impacting Factors
The Intelligent
Flow Meters are
mainly used to quantify liquid and gas fluid movements. These flow meters are
sited to gather information from the areas of interest. The meter is designed
to ensure increased flexibility, easy deployment, and embedded intelligence for
cooperatively delivering value-added services. These have been considered as
crucial factors that led the market to a great extent until the present time.
The demand for
intelligent flow meter is increasing from oil & gas applications to
regulate fluids accurately and precisely. This, in turn, helps the market of
intelligent flow meters to grow considerably. In fact, the rising demand for
intelligent flow meter in chemical & wastewater industries is also
supporting the market of intelligent flow meters.
Furthermore, with the
evolving technologies in the ultrasonic measurement technology, the demand for
intelligent flow meter is observed growing simultaneously, thus boosting the
growth of the market to a great extent. With this, the rising requirement of precision
in the oil and gas industry to calibrate the fluids accurately, intelligent
flow meters are widely deployed globally, which in turn, is fuelling the growth
of the global intelligent flow meter market.
Global
Intelligent Flow Meter Market: Restraints
The early high price of intelligent flow meter is considered
as a key restraining element to the growth of the global intelligent flow meter
market. Besides, less accuracy and delicacy in the intelligent flow meter is
yet another prime factor posing as a challenge to the global intelligent flow
meter market and its growth.
Segmentation
of Market: Intelligent Flow Meter
Global Intelligent
Flow Meter Market as per segmentation has included the segments of type,
communication protocol, and Verticals.
The type segment has included multiphase turbine,
calorimetric, electromagnetic, vortex, ultrasonic, doppler, thermal, and
Coriolis.
The communication
protocol segment has added Profibus, HART, and Modbus.
The vertical segment
has included power generation food & beverages, chemical, metals &
mining, oil & gas, pharmaceuticals, and pulp & paper.
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Region-Wise
Outlook
The Asia Pacific is the largest market
for intelligent flow meters in support of rapid industrialization and augment
in oil and gas demands. Asia-Pacific is leading the market due to mounting
industrial development and colossal demand for measuring meters in the Oil
& Gas industry. The high demand for intelligent flow meters in measurement
processes among countries of China and India, thus fuelling the market of the
intelligent flow meter to achieve new heights in the upcoming future.
North-America is also showing healthy growth due to a large number of shale gas
projects and oil fields present in the region. The Intelligent flow meter
market in Europe is also expanding due to rapid industrial infrastructural
activities and the growing demand for accurate and precise flow measuring
devices in this region.
The Middle East and
Africa regions are the second-largest shareholders in the consumption of the
intelligent flow meter market.
North America also
accounts for a preferred share of consumption of intelligent flow meters.
North-America is also showing healthy growth owing to the vast number of shale
gas projects and oil fields. Europe is also expanding in support of rapid
industrial infrastructural activities and growing demand for exact and precise
flow measuring devices in this region.
Top Market
Players
The foremost companies involved in the manufacturing and
production of intelligent flow meters are listed as Endress+Hauser AG (Germany),
Emerson Electric Company (U.S), Honeywell International Inc. (U.S), ABB limited
(Switzerland), Yokogawa Electric Corporation (Japan), Siemens AG (Germany),
Brooks Instruments, Abzil Corporation, Krohne Messtechnik GMBH, General
Electric Company, and others.
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