Global Intelligent Flow Meters Market Is Estimated to Account for US$ 9.3 Bn by End of 2027, Says Coherent Market Insights (CMI)
SEATTLE–(BUSINESS WIRE)–#CoriolisIntelligentFlowMeter–Intelligent flow meters such as magnetic, turbine, thermal, vortex, coriolis, and ultrasonic are widely used to measure water flow for the provision of clean water and the safe disposal of wastewater. Intelligent flow meters are also used to measure the velocity of a fluid to calculate liquid flow accurately as compared to the other flow meters.
Intelligent flow meters provide accurate measurements, as they are not affected by weather conditions and factors such as viscosity, density, and temperature. Thus, they are widely used in various industries, such as oil and gas, automotive, BFSI, aerospace and defence, food and beverages, retail, manufacturing, metals and mining, healthcare, and others.
The global intelligent flow meter market is estimated to account for 9.3 Bn in terms of value by the end of 2027.
Market Drivers:
1. Increasing demand for intelligent flow meters, to measure flow rate, from various industries is expected to augment the global intelligent flow meter market growth.
The players in the market are investing aggressively to manufacture innovative solutions and products to measure the flow rate of liquids, gases, and vapours. For instance, in March 2020, Emerson launched a titanium-housed transducer, the Daniel T-200, for its gas ultrasonic flow meter product line. The Daniel T-200 delivers enhanced performance and long-term reliability in extreme wet, sour, and corrosive chemical gas environments.
2. Technological advancements in flow meters, along with socio-economic and demographic factors such as growing population and increasing urbanization, is also expected to propel the global intelligent flow meter market growth. Market players are increasingly adopting the Internet of Things (IoT) sensors for smart metering solutions.
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Market Opportunities:
1. Increasing emphasis on real-time data analysis and enhanced visibility is expected to provide major growth opportunities for the global intelligent flow meter market.
2. Growing awareness about the advantages of intelligent flow meters is also expected to offer lucrative growth opportunities for players in the market. Intelligent flow meters are smarter, more accurate, and have a better diagnostic approach than traditional flow meters.
Market Trends:
1. Market players are focusing on launching new and innovative products with new features and technologies to strengthen their product portfolio or to gain competitive edge in the market. For instance, in February 2020, Siemens upgraded its gas flow measurement capabilities of the SITRANS FS230 clamp-on ultrasonic flow meter. SITRANS FS230 replaces the FUG1010 clamp-on ultrasonic flow meter for gas flow measurement applications.
2. Increasing adoption of intelligent flow meters across various end-use industries is expected to drive the global intelligent flow meter market growth.
Due to the various advantages over traditional flow meters, intelligent flow meters are adopted extensively in various end-use industries, such as food and beverages, chemicals, metals and mining, power generation, and pulp and paper, among others.
Competitive Landscape:
Key players active in the global intelligent flow meter market are ABB, Siemens, Emerson Electric Co., Fuji Electric Co., Ltd, Baker Hughes, DISTRIBUIDORA INTERNACIONAL CARMEN, S.A.U, KOBOLD Messring GmbH, RIELS INSTRUMENTS, General Electric, KROHNE Messtechnik GmbH, Sierra Instruments, Inc., BrooksInstrument, Azbil Corporation, Yokogawa Electric Corporation, and Honeywell International Inc.
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Recent Developments:
In April 2020, Fuji Electric Corp. announced the launch of our new UltraSonic Flow Meter for Steam. The FSJ/FSX series demonstrates Fuji Electric’s EMS (Energy Management Solution) by Visualization, Recognition, and Optimization.
In March 2020, Endress+Hauser launched the Proline Prosonic Flow G 300/500 flow meter, which can be supplied with either of two different transmitter: as a compact version (Proline 300), or as a remote version (Proline 500) with up to four inputs and outputs.
In June 2018, Emerson launched a powerful diagnostic tool to improve the reliability of flow meter. Emerson introduced the latest version of intelligent flow meter self-calibration software for Coriolis flow meter and electromagnetic flow meter.
Market segmentation:
By Type:
- Magnetic
- Coriolis
- Ultrasonic
- Vortex
- Multiphase
- Thermal
- Turbine
- Variable Area & Differential Pressure
By End-use Industries:
- Automotive
- Aerospace & Defence
- BFSI (Banking, Financial Services, and Insurance)
- Healthcare
- Manufacturing
- Retail and Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
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