Expanding Applications & Strong Replacement Demand Drive the Global Market for Flow Sensors, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) April 07, 2015 -- Follow us on LinkedIn – As a technology that measures the rate of fluid and air flow, flow sensors are vital for any equipment or device used for monitoring and controlling the flow of gases or liquids. Key end-use application markets include oil & gas, waste water management, petrochemical refineries, chemical processing plants, and pulp & paper industries. The growing emphasis on energy efficiency, reduced maintenance costs, enhanced asset utilization, and improved process monitoring, is favoring adoption of flow sensors in industrial processing plants. With the manufacturing sector embracing automation and control solutions, flow sensors and transmitters are poised to witness strong demand.
Technology innovation aimed at enhancing the accuracy and reliability of flow meters will also help benefit market growth. The market is already witnessing a massive shift away from conventional technologies like positive flow and differential pressure flow meters, towards newer technologies like mass flow sensors, magnetic flow sensors and those based on Vortex, Ultrasonic, Coriolis and thermal measurement principles. Vortex, Ultrasonic and Coriolis flow sensors will especially benefit from the projected rise in activity in oil and gas, chemical and petrochemical industries in the coming years. The growing global focus on energy efficiency against a backdrop of rising energy costs and environmental pollution is expected to benefit the market. The need to reduce energy wastages is expected to assume critical importance when mandatory carbon emission reporting turns carbon into a fully tradable commodity. Under this scenario, the manufacturing industry is investing on efficient energy management and monitoring systems including flow sensors, given their instrumental role in tracking, monitoring and measuring energy consumption and controlling energy wastages. Other advantages of flow sensors when used for sub-metering of production processes include higher plant productivity, superior production efficiencies, and early detection of equipment failure/malfunctioning.
Guided by factors such as growing world population, contamination of water resources, expansion of water infrastructure, and legislation of drinking water quality and waste-water treatment norms, the water and wastewater industry is poised to emerge into a lucrative end-use market. In the oil & gas industry, accurate flow measurement is critical in efficient production of hydrocarbons. In the oil and gas industry, flow sensors are used to identify leaks and fuel loss, measure cooling water flow, hydraulic fluid flow and process gas flow, among others.
As stated by the new market research report on Flow Sensors, Asia-Pacific represents the largest as well as the fastest growing regional market with a CAGR of 6.3% over the analysis period.
Major players in the global marketplace include ABB Limited, Analog Devices Inc.,Robert Bosch GmbH, Emerson Electric Company, First Sensor AG, Gems Sensors & Controls, Gill Research & Development Ltd., Honeywell International Inc., Keyence Corporation, Meggitt PLC, Omron Corporation, Posifa Microsystems, Sensirion AG, Sick Ltd., Siemens AG, Thomas Products Ltd., and UTC Aerospace Systems, among others.
The research report titled “Flow Sensors: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World (Middle East which includes Iran, Iraq, Israel, Kuwait, Saudi Arabia, Syria and The UAE, and Africa).
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
###
Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 408-528-9966, [email protected]
Share this article