The intelligent flow meter market is likely to secure a CAGR of 5.9% during the forecast period. The market is estimated to be valued at US$ 7.76 Bn in 2022 and likely to be valued at US$ 13.77 Bn by 2032.
| Attributes | Details |
|---|---|
| Intelligent Flow Meter Market CAGR (2022 to 2032) | 5.9% |
| Intelligent Flow Meter Market Value (2022) | US$ 7.76 Billion |
| Intelligent Flow Meter Market Value (2032) | US$ 13.77 Billion |
The demand for intelligent flow meter is growing in the oil & gas industries for flow rate management which is likely to surge the market during the forecast period. Moreover, rapid urbanization and demand for oil & gas across the globe are likely to increase the intelligent flow meter market size. On the other hand, several end-use industries, such as food & beverage, power generation and pharmaceuticals, are accelerating the demand for intelligent flow meter in recent years.
Although growing advanced technology and innovative products such as advanced sensors, wireless gadgets, and monitoring devices are raising the adoption of the intelligent flow meter. The intelligent flow meter device remains the same in any atmospheric temperature and suspended particulates, thus increasing the demand for intelligent flow meter.
On the flip side, an intelligent flow meter provides high accuracy, reliability and stability due to its smartly developed meter. However, this smart flow meter monitors the liquid based on real time and is likely to bloom in the end-use industry in recent years. The demand for intelligent flow meter is growing due to the high standard of living, better solutions and the rise in disposable income of people during the forecast period.
Based on type, the market is subdivided into Coriolis intelligent flow meter, electromagnetic intelligent flow meter, and ultrasonic intelligent flow meter, among others. The electromagnetic intelligent flow meter dominates the global market by capturing the maximum share during the forecast period.
Due to being widely used in the wastewater industry, the adoption of electromagnetic intelligent flow meter is likely to increase during the forecast period. Moreover, other industries such as mining, pulp & paper and metals are likely to boost the demand for electromagnetic intelligent flow meter in recent years.
Based on region, the intelligent flow meter market is segmented into North America, Europe, Asia-Pacific, MEA & Latin America. Asia Pacific is a leader in the global market by capturing the highest share during the forecast period. Due to increased industrial activities, the growing demand for intelligent flow meter and the presence of key players are rising the adoption of intelligent flow meter in the region.
The key players are playing a major role in the market by capturing the lion’s share during the forecast period. They are adopting several marketing methodologies to upsurge the market size. Some of these marketing tactics are mergers, partnerships, and product launches, among others.
Intelligent flow meters are used to measure fluidic phenomenon in a wide range of industrial as well as commercial applications including oil and gas, food and beverages, pharmaceutical industry and power generation. An intelligent flow meter is used to measure the velocity of a fluid with ultrasound or any other technique to calculate the volume flow.
Intelligent flow meters remain unaffected from temperature, viscosity, density and any suspended particulates. Intelligent flow meters are electronic meters and thus does not involve any moving parts unlike mechanical flow meters. Flow meters is the quantification of bulk fluid movement.
Flow can be measured by contact type or non contact type sensors but intelligent flow meters involve non contact type of measurement of fluid flow. Intelligent flow meters usually sends a laser beam or an ulstrasonic beam to the moving liquid which gets reflected back from the moving liquid and the movement or velocity of the moving fluid is displayed on the screen.
The intelligent flow meters are widely used in fluid industries to check the fluid flow inside the pipes as well as to maintain the fluid flow in such pipes.
With the increasing need for reduced uncertainity among metrologists to improve the caliberation standards for flow is a key factor driving the growth of the global intelligent flow meter market. With the evolving technologies in the ultrasonic measurement technology, demand for intelligent flow meter is growing simultaneously thus boosting the growth of the market.
With the rising requirement of precision in oil and gas industry to caliberate the fluids accurately, intelligent flow meters are widely deployed globally thus in turn fuelling the growth of the global intelligent flow meter market.
The high initial prices of intelligent flow meter is a key element restraining the growth of the global intelligent flow meter market. Furthermore, less accuracy and delicacy in the intelligent flow meter is another major factor posing as a challenge to the global intelligent flow meter market.
Asia Pacific is the largest market for intelligent flow meters due to rapid industrialization and increase in oil and gas demands followed by Middle East and Africa being the second largest region in the consumption of intelligent flow meter.
North America and Western Europe also account for a good share of consumption of intelligent flow meters.
The major companies involved in the manufacturing and production of intelligent flow meters are Emerson Electric Company (U.S), Endress+Hauser AG (Germany), ABB limited (Switzerland), Honeywell International Inc. (U.S), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Abzil Corporation, Brooks Instruments, General Electric Company, Krohne Messtechnik GMBH and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global intelligent flow meter market can be segmented on the basis of type, technology, application and region. On the basis of type, the global intelligent flow metrer market can be segmented into coriolis intelligent flow meter, electromagnetic intelligent flow mater, vortex intelligent flow meter, ultrasonic intelligent flow meter and others.
On account of technology, the global intelligent flow meters market can be segmented into profibus, HART and others. On the basis of applications, the intelligent flow meters market can be segmented into water and wastewater, oil and gas, chemicals, pharmaceuticals, food and beverages, power generation and others.
On the basis of regions, the intelligent flow meters market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East and Africa and Japan.
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Intelligent Flow Meter Market
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