According to the latest report by IMARC Group, titled, “Flow Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, provide the global flow meter market size reached US$ 7.6 Billion in 2020. Looking forward, the market expects to grow at a CAGR of 7.8% during 2021-2026.
A flow meter is an instrument that helps measure the linear, nonlinear, mass, or volumetric flow rate of a liquid, gas, or steam. It consists of primary devices, transducers, and transmitters that sense the fluid passing and convert it into usable data. Nowadays, advanced flowmeters with integrated computers are widely being used to monitor variances in pressure, temperature, viscosity, and density in real-time.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The increasing shale gas exploration activities, in confluence with the construction and replacement of new and existing power plants respectively, represents one of the major factors positively influencing the adoption of flow meters worldwide. Moreover, the emerging automation trend in industrial processes is catalyzing the demand for flow meters in various industry verticals, including construction, automotive, and wastewater management. Additionally, leading manufacturers are introducing ultrasonic flow meters integrated with advanced technologies to enhance the performance and measurement in continuous industrial processes. This, in turn, is anticipated to provide a positive market outlook.
Browse full report with TOC: https://www.imarcgroup.com/flow-meter-market
The report has segmented on the basis of product type, application and geography.
By Product Type:
· Analog Flow Meter
· Smart Flow Meter
By Application:
· Residential
· Industrial
· Commercial
By Geography:
· North America
· Europe
· Asia Pacific
· Middle East and Africa
· Latin America
Who are the Major Flow Meter Market Key players?
The report provides a detailed analysis of the market leaders, including.
· ABB Group,
· Emerson Electric Co.,
· Siemens AG,
· Schneider Electric SE,
· Saison Information Systems Co., Ltd.
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