The flow meters market in Asia Pacific is growing at a CAGR of 9.3% during the forecast period. Rising capital projects and petrochemicals and refineries is set to boost the growth of flow meters market in this region. Magnetic flow meter held the largest market size in this region. Lack of skilled technician is hampering the growth of flow meters in Asia Pacific.
Albany, NY -- (SBWIRE) -- 01/06/2016 -- The measurement of liquid or fluid movement is flow measurement. Different types of flow meters are used in measurement of the movement of the fluid. Flow meter is used for measurement of mass, volumetric, linear and non-linear flow rate of fluid and gas. Flow meters consist of a scale, tube, indicator and stop. Moreover, the flow meters' performance relies on certain factors like pressure, density, temperature and viscosity of the liquid. Most of the flow meters depend on forces produced by the flowing steam to indirectly measure the flow as it overcomes the known condition. But the positive displacement flow meters measure the flow by gathering a fixed volume of liquid then it counts the number of time volume is filled. Flow meters are known by different names like flow indicator, flow gauge, liquid meter and many more.
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The market is primarily boosted by investment in capital projects like rising waste water management, petrochemicals, agriculture and many others. Flow meters are used in different sectors like waste water management, agriculture and petrochemicals among other. Demand in petrochemicals and refining industries is one of the important drivers, driving the growth of flow meters market. Petrochemicals and refining industry is one of the important sectors for flow meters market. Flow meters are used in gas flaring, custody transfer, produced waster discharged and interwell allocation. Advanced flow meters are also driving the flow meters market. Replacement of the obsolete flow meters with the new smart flow meters is fuelling the demand of flow meters. These smart meters are more reliable and accurate in measurement compared to the previous generations of flow meters.
The market is hindered by some of the factors like lack of skilled technician. It is one of the important factors restraining the growth of flow meters market globally. Flow meter needs to be fitted properly and with accuracy to get the best result. Due to lack of training and knowledge, the technician does not have proper skills to operate flow meters. Moreover, lack of specialized equipment is also hampering the growth of flow meters market. Proper calibration of these flow meters is essential as it ensures that the measurement of flow meter is accurate. Moreover, calibration requires specialized equipment without which the measurement of fluid cannot be assured to be exact and accurate.
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Increasing demand of waste water management infrastructure is expected to create opportunities in the market. Flow meter is used for dosing at the time of water purification, abstraction of water, discharge of wastewater in to river and many more. They are used for environmental regulation, quality control and revenue calculation
The analysis of flow meters market is done on a global level and provides forecast in terms of revenue (USD billion) from 2015 to 2021. It identifies the restraints and drivers affecting the industry and analyzes their impact during the estimated period. Further, it recognizes the key opportunities for market growth in the next few years.
The Flow Meters market report is geographically segmented into North America, Europe, Asia-Pacific, and RoW (Rest of the World). These segments are predicted in terms of revenue (USD). The market has been segmented on the basis of product type including magnetic flow meter, coriolis flow meter, ultrasonic flow meter, turbine flow meter, vortex flow meter and others. These segments have also been estimated based on geography in terms of revenue (USD billion).
The study includes market attractiveness analysis, where the applications are benchmarked based on growth rate, market scope, and general attractiveness. The report includes company market share analysis of various industry participants.
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The key players have also been profiled based on the basis of company overview, business strategies, financial overview, and recent developments. Major market players in this market are ABB Ltd. (Switzerland), Siemens AG (Germany), Azbil Corporation (Japan), Badger Meter Inc. (U.S), Brooks Instrument LLC (U.S), Yokogawa Electric Corp. (Japan), Endress + Hauser (Switzerland), Krohne Messtechnik GmbH (Germany), General Electric Co. (U.S) and Sierra Instruments Inc. (U.S) among others.
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