The global Coriolis meters market is estimated to reach $1,932.5 million by 2019 at a projected CAGR of 11.04% during the forecast period, indicating a high demand in oil & gas, chemicals & petrochemicals, food & beverages applications.
Dallas, TX -- (SBWIRE) -- 02/02/2015 -- The report "Coriolis Meters Market by Application (Oil & Gas, Chemicals and Petrochemicals, Food and Beverage, and Others), by Fluid Type (Liquid and Gas) & Geography - Global Trends and Forecast till 2019)", defines and segments the global Coriolis meters market with an analysis and market size forecast. The Coriolis meters market is projected to grow from an estimated value of $1,145 million in 2014 to $1,932.5 million by 2019 at a CAGR of 11.04% from 2014 to 2019.
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Coriolis mass flowmeters measure the mass flow of fluids, such as water, acids, caustic, chemicals, and gases/vapors. These meters can measure the flow with such high accuracy that they are widely used to measure high value products or the introduction of fluids that affect the production of high value products. The main concern regarding the Coriolis meters is its high cost of installation and calibration. This has limited the adoption of this technology by high end customers who can bear its cost.
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The global Coriolis meters market is segmented on the basis of their applications such as oil & gas, chemicals and petrochemicals, and food and beverages, among others (others include pulp and paper, textiles, water and waste-water treatment industry). They are further segmented on the basis of the usage of the fluid type such as liquid and gas usage. The Coriolis meter market is segmented on the basis of regions into North America, Europe, Asia-Pacific, Latin America, the Middle-East, and Africa. Each region has been analyzed with respect to its market trends, growth, and future prospects in terms of the Coriolis meters market.
North America: The largest market for Coriolis meters
North America holds the largest market for Coriolis meters due to shale gas discoveries taking place in the oil & gas segment. This also impacts the chemicals and petrochemicals segment. The U.S. dominates the market in this region due to the development of shale gas and technological innovations.
Liquid usage: The largest segment by fluid type
The Coriolis meters market can be classified on the basis of the fluid measured in it, that is liquid or gas. The liquid usage segment holds the largest market share across the globe for Coriolis meters.
Oil & gas: The largest segment by application
The oil & gas segment holds the major share in the Coriolis meters application market. Oil & gas segment is growing due to the increasing investments in Asia-Pacific and the Middle-East and Africa region in energy sector projects.
Key players in the industry are profiled in detail along with, their recent developments. Some of them include Emerson Inc. (U.S.), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), ABB Ltd. (Switzerland), and Schneider Electric Co. (France) among others.
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