Major players in the flowmeter market are ABB Ltd, Emerson Electric Co. , Em-Tec GmbH, Endress+Hauser Management AG, General Electric Company, Hitachi Ltd. , Honeywell International Inc. , Höntzsch GmbH, KROHNE Messtechnik GmbH, Siemens AG, Yokogawa Electric Corporation, VSE Volumentechnik GmbH, Keyence Corporation, Schneider Electric SE, and Saison Information Systems Co.

New York, March 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Flowmeter Global Market Report 2022" - https://www.reportlinker.com/p06248458/?utm_source=GNW
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The global flowmeter market is expected to grow from $6.78 billion in 2021 to $7.36 billion in 2022 at a compound annual growth rate (CAGR) of 8.68%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10.74 billion in 2026 at a CAGR of 9.88%.

The flowmeter market consists of sales of flowmeters by entities (organizations, sole traders, and partnerships) that refer to a tool utilized to measure the linear, nonlinear, mass, or volumetric flow rate of a liquid or a gas.Flowmeter is also called a flow sensor.

Open channels, such as rivers or streams, can be measured with flowmeters. Improving the accuracy, precision, and resolution of fluid measurement are some of the benefits of flowmeters.

The main types of flowmeters include differential pressure flow meter, positive displacement flow meter, ultrasonic flow meter, turbine flow meter, magnetic flow meter, coriolis flow meter, and vortex flow meter.The differential pressure flowmeter consists of sales of differential pressure flow meters by entities (organizations, sole traders, and partnerships) that refer to the principle of partly cutting off the flow in a pipe.

Differential-pressure meters are highly popular and it is estimated that at least 40% of industrial flowmeters in usage currently are differential-pressure devices.The positive displacement flowmeter consists of sales of positive displacement flow meters by entities (organizations, sole traders, and partnerships) that refer to positive displacement flow meters, which are the only flow measuring technology to exactly measure the volume of fluid proceeded by the flowmeter.

They are accessible in industrial grade, brass, or all-plastic construction.The main applications of flowmeters are in residential uses, industrial uses and commercial uses. The flowmeters are used in multiple industries including water and wastewater management, oil and gas, chemicals, power generation, pulp and paper, and the food and beverage industries.

Asia Pacific was the largest region in the flowmeter market in 2021.Europe is expected to be the second largest region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

An increase in pharmaceutical production is expected to propel the growth of the flowmeter market.A flowmeter is a device that measures a liquid or gas’s linear, nonlinear, mass, or volumetric flow rate.

For the manufacturing of pharmaceuticals, flowmeters are used to control extremely sensitive conditions such as pressure and temperature. According to IBEF, the Indian pharmaceutical market grew 17.7% annually in August 2021, which is an increase from 13.7% in July 2020. Furthermore, according to India Ratings & Research, the Indian pharmaceutical market revenue is expected to be over 12% Y-o-Y in FY22. Also, in the USA, according to Pharmaceutical Commerce, it is projected that by the year 2023, Americans would spend between $635 and $655 billion on medicine. This represents a 29.6 – 33.7% increase in expenditure as compared to 2019. Therefore, the rise in pharmaceutical production is driving the growth of the flowmeter market.

Technological Advancements are a key trend gaining popularity in the flowmeter market.Technological advancement is a discovery of knowledge that advances technology that may help the usage or production of a device, making it more efficient.

For instance, in 2020, ABB, a Switzerland-based industrial equipment company has launched the Sensyflow FMT700-P Compact thermal mass flowmeter.It is useful for the automotive industry to optimize the use of hydrogen to power electric drive trains.

This flowmeter is ideal for fine-tuning the efficiency of cells that combine hydrogen and air to produce electrical power while emitting only water. It is accurate to 0.8 percent of reading over extensible and adjustable measuring ranges. The P-Compact is used to evaluate the performance of conventional turbochargers and related components, such as intake fans, throttle valves, and air filters, as well as hydrogen fuel cells.

In 2019, TASI Group, a USA-based industrial products company announced the acquisition of Sierra Instruments, an instrumentation company manufacturing flowmeters, for an undisclosed amount.Through this acquisition, Sierra’s flow product portfolio compliments TASI Flow businesses, offering new technologies including Transit-time ultrasonic and vortex shedding.

Also, the acquisition is expected to help the growth of TASI Group and TASI Flow. Sierra Instruments is based out of California, USA, and was founded in 1973.

The countries covered in the Flowmeter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.


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