Flow
Sensors are
devices used to measure the flow rate of the fluid either directly or
indirectly. The Flow Sensors Market has been segmented based on the type
of parameter the sensors measure, the technology utilized in the flow
sensor and the
end use application of the flow sensor along with geographic analysis. Flow
sensors can be
classified by the fluid parameter which they measure such as: Differential
Pressure, Positive Displacement, Mass, Open channel and Velocity flow sensors
and so on. Flow sensors are classified based on the type of technology into
electromagnetic, ultrasonic, orifice plate, coriolis, open channel and pitot
tubes and others. Flow sensors are used in various industries including oil and
gas, chemical, pharmaceutical, food and beverage as well as consumer
applications such as HVAC. The Global Flow Sensors Market revenue is estimated to reach $8.49
billion exhibiting a growth of 7.1% through 2020
Table of Contents and Insights:
The growth in demand
for flow sensors is
primarily due to development of new technologies and applications. New flow
sensor technologies are
projected to slowly replace the older technologies in the next few years
spurring the flow sensor market.
Newer technologies such as: Mass Flow Sensors and Velocity Flow Sensors have resulted in increased adoption of
flow sensors due to their high accuracy and reliability. New applications such
as monitoring of pulp slurries and flow monitoring in partially filled pipes
have been established for flow sensors in the paper and pulp industry. Such new
applications have raised the potential market for flow sensors, thereby leading
to increased revenue generation as penetration increases. The growth in related
industries such as shale oil refining, paper and pulp as well as waste water
management are set to propel the flow sensor growth, particularly in APAC
region.
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The APAC region is forecast to exhibit high growth due to
increase in number of installations and applications of flow sensors in this
region. The growing governmental regulations are forecast to propel the flow
sensor adoption ratewhich is driving demand. The high growth rate is accredited
to the investments in various process industries such a soil and gas, chemical,
pulp and paper and so on. The growing threat of global warming is
fuelling the need for monitoring the effluents from industries, which is
proving a huge impetus to the flow sensor market. The growth in shale oil
refineries in China is also set to drive the market for flow sensors.
APAC Flow Sensor Market, By Country, 2013-2020 ($m)
Source: IndustryARC Analysis and Expert
Insights
The flow sensor market is dominated by few key players. The
top five companies in
this market include ABB AG (Switzerland), Honeywell International Ltd.(U.S.),
Emerson Electric Ltd.(U.S.), Siemens AG (Germany) and G.E (U.S.) and they
account for nearly 60% of the total market share. The dominant companies are
finding it difficult to further consolidate their market presence due to strong
competition from emerging small companies such as Krohne Inc. (Germany), and
Floe line (U.S.)for rapidly penetrating into the market. Hence, the big players
are acquiring the smaller companies, to augment their product portfolio and to
develop innovative products by leveraging core competencies. Growth in flow
sensor market is estimated to lead to increased competition among the
competitors.
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