Global mass flow controller market is foretold to receive significant growth prospects birthing on the back of the escalating demand in the semiconductor industry riding on advancements in technology and innovation.
Albany, NY -- (SBWIRE) -- 03/19/2018 -- The global mass flow controller market is likely to grow at a CAGR of 8.8% during the assessment period 2017-2026. In terms of revenues, the market is projected to reach a valuation of over US$ 1.3 Bn. These projections are according to a new research report "Mass Flow Controller Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2026" that has been added to the repository of Market Research Reports Search Engine (MRRSE).
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The report analyzes the global mass flow controller market in detail, and offers readers an in-depth analysis on the key factors that are influencing demand. The demand-supply equation in the market has been analyzed, and a detailed segmentation is included for lucid insights. The competition tracking section of the report profiles some of the key players operating in the market.
The report has segmented the market on the basis of product type into coriolis mass flow meter, differential pressure flow meter, and thermal mass flow meter. According to the report, coriolis mass flow meters account for are expected to grow at a brisk pace during the assessment period. The steady demand for coriolis mass flow meters can be attributed to their advanced features such as temperature measurement.
By application, chemicals account for significant demand for mass flow controllers, and the trend is likely to gain traction during the assessment period. By material, demand for exotic alloys is likely to remain significant during the projected period. Exotic alloys offer a higher resistance to corrosion, pressure, and temperature, and these factors make them an appealing option for use across a range of industries.
Europe and North America are among the key markets for mass flow controllers globally. The Europe mass flow controller market is projected to grow at 8.6% CAGR during the assessment period, whereas the market in North America is likely to gain significant revenues during the assessment period. The key factors fuelling the demand for mass flow controllers in these regions include steady adoption in the automotive industry, increasing emphasis on reducing air pollution, and stringency in regulations in the chemicals industry. On the back of these factors, the mass flow controller market is likely to witness steady growth during the assessment period in these two regions.
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In addition to Europe and North America, the demand for mass flow controllers is also gaining ground in Asia Pacific excluding Japan (APEJ). Home to two of the fastest growing economies in the world, the region is witnessing steady industrial growth. Further, focus on environmental conservation and air pollution reduction have become key issues for governments. These factors are likely to propel the growth of APEJ mass flow controller market during the assessment period.
The report also analyzes some of the leading players operating in the global mass flow controller market. The product and business strategies of the leading players has been discussed in detail. The key companies include Parker Hannifin Corporation, Horiba Ltd., and MKS Instruments.
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