Flow Meters: A Global Strategic Business Report
San Jose, CA (Vocus/PRWEB) February 09, 2011
With most end-use industries, such as, chemicals, steel, clean water and wastewater, oil and gas, energy generation, mineral processing and automotives, officially in the “Valley”, the ensuing industry downsizing and period of cost cutting, hurt the world flow meter market during the period 2008 through 2010. Reduced consumer demand for commodities/products and services, largely attributable to recession induced cost cutting by households faced with shrinking disposable incomes, and the ensuing demand weakness in end-use industries, represented indirect economic variables that eroded the financial health of flow meter manufacturers. Slowing levels of economic activity, complete collapse of global production & trade, fall in industrial production, manufacturing activity, commercial activity, plant closures, capacity idling, scaling back of operating capacity and the resultant sputtering investments in industrial production resulted in broad based declines in production logging tools, including flow meters, fluid density devices, and noise loggers, among others.
Fall in the business confidence index, tighter lending standards, rising borrowing costs, and the resulting shortages of credit availability to finance investments in new machinery, new plant establishments, upgradation, renovations, and refurbishments, represented common woes that halved investment plans across all end-use sectors. Weakened financial muscle of manufacturers brought investments in industrial machinery, process equipment, manufacturing execution systems, and manufacturing automation technology directly under the yoke. Also, given that flow meters are typically installed while establishing new plants or renovating existing ones, the widespread postponements, shelving and cancellation of new capital projects over the last two years have resulted in sharp declines in influx of new orders. Lengthening of the replacement cycle also eroded commercial opportunities. As a result, demand for advanced flow meters such ultrasonic, vortex flow meters, coriolis, and thermal flow meters, largely used in the chemical industry, ebbed as chemical producers culled non-performing plants to stem supply surpluses. Similarly, demand for magnetic flow meters also weakened in sync with the restrained activity in water and wastewater management industry. Flow meters used in the oil & gas sector fared better in comparison as stabilizing crude oil prices resulted in top-league oil & gas companies continuing production and exploration ventures, thereby sustaining demand.
Fears over the disruptive impact of the current recession into the future has been allayed. The fact is mirrored by the market’s recovery staged in the year 2010. A key reason fingered for the quick resurgence is accumulation of postponed and deferred orders, and re-investment of manufacturing majors in plant renovation, and modernization and capacity expansions. Capital projects, which have either been shelved or postponed due to tight budgetary conditions, will remerge to drive growth. Stimulus packages offered by the governments across the globe as succor to the ailing industries will additionally strengthen capital investments. Technology developments, which enhance the accuracy and reliability of flow meters, and new product innovations will play a major role in allowing the market to attract new opportunities, post recession. The energy sector will stand out as the most promising and lucrative end-use application area in the upcoming years. Resurgence in efforts surrounding the search for renewable energy sources will throw up opportunities for flow meters. In the oil & gas sector, reliability and measurement accuracy are proving to be critical parameters, and Middle East, a hub of oil & gas activities will generate demand opportunities in the short to medium term period.
As stated by the new market research report, Europe remains the largest regional market for flow meters, by value. By volume, US represents the largest market, having accounted for a majority share in the year 2010. Asia-Pacific is the fastest growing regional market both in terms of volume and value sales. Value sales in Asia-Pacific are projected to grow at a CAGR of 4.8% over the analysis period. Growth in this region will essentially be driven by growing number of capital projects and establishment of new process plants. By product, Magnetic Flow Meters market remains the largest product segment. Ultrasonic Flow Meters market represents the fastest growing product segment, displaying a CAGR of about 7.0% over the analysis period.
Major players in the marketplace include Asea Brown Boveri Ltd. (ABB), Badger Meter Inc., Dresser Inc., Eastech Flow Controls, Elster AMCO Water Inc., Emerson Electric Co., Emerson Process Management, Endress+Hauser (E+H), Faure Herman S.A., Groupe Legris Industries, Hach/Marsh-McBirney Inc., Honeywell International Inc., Idex Corporation, Invensys Process Systems, Rockwell Automation Inc., Siemens AG, Teledyne Isco Inc., Yamatake Corporation, Yokogawa Electric Corporation, among others.
The research report titled "Flow Meters: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, recent developments, mergers, acquisitions, profiles of major players and other strategic industry activities. The report provides market estimates and projections in both volume and value sales for major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe) Asia-Pacific, Middle East and Latin America. Product segments analyzed include Differential Pressure Flow Meters, Magnetic Flow Meters, Mass Flow Meters, Open Channel Flow Meters, Positive Displacement Flow Meters, Turbine Flow Meters, Ultrasonic Flow Meters, Anemometers, and Vortex Flow Meters.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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