At 5+% CAGR (MFC) Mass Flow Controller Market To Hit $1,395.1 Million by 2023 Led by Semiconductor Industry
PUNE, India, Nov. 30, 2017 /PRNewswire-iReach/ -- The mass flow controller market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2017 and 2023. The increasing population growth in the emerging countries, namely China, India, and Japan is likely to have a positive impact on the medical and pharmaceuticals industries. The aging population contributes to the sustainable growth of the market for medical devices. Owing to the huge population in emerging countries such as China, India, and Japan, the medical equipment and pharmaceutical industries are rapidly driving the demand for mass flow controllers. This market in emerging economies is expected to grow at the highest CAGR because of the increasing technological advancements in medical and healthcare devices.
Browse 67 Market Data Tables and 48 Figures spread through 156 Pages and in-depth TOC on "Mass Flow Controller Market by Material, Connectivity Technology, Flow Measurement (Low, Medium, High), Application, Industry (Chemicals, Oil & Gas, Food & Beverages, Pharmaceuticals, Semiconductor), and Geography - Global Forecast to 2023" http://www.reportsnreports.com/reports/1241160-mass-flow-controller-market-by-material-connectivity-technology-flow-measurement-low-medium-high-application-industry-chemicals-oil-gas-food-beverages-pharmaceuticals-semiconductor-and-geography-st-to-2023.html .
The major players operating in the mass flow controller market are Bronkhorst (Netherlands), Brooks (US), Burkert (Germany), Teledyne Hastings (US), HORIBA (Japan), Sensirion (Switzerland), Alicat Scientific (UK), Sierra (US), and MKS (US).
The semiconductor industry is expected to hold the largest share of the mass flow controller market by 2023 owing to the increasing demand for mass flow controllers in manufacturing processes of semiconductor devices/products. The rise in innovations and developments in the semiconductor industry significantly drives the growth of this market at present, and a similar trend is likely to continue in the near future. The semiconductor industry is cyclic in nature. Although being cyclic in nature, the market for MFCs is expected to witness steady growth in the semiconductor industry as the mass flow controller is an indispensable product for the manufacturing of semiconductor devices. As a result, the semiconductor industry is expected to hold the largest share of this market during the forecast period.
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The mass flow controller market growth is driven by the development strategies, such as contracts and agreements, product launches and developments, partnerships, and expansions, implemented by the players operating in the mass flow controller market as well as the growing demand for mass flow controllers in the semiconductor industry for various applications, high demand for mass flow controllers in fuel cells for renewable energy applications, and increasing demand for ultra-low flow rate mass flow controllers for numerous industrial and medical applications.
The mass flow controller market for the low flow measurement is expected to grow at the highest CAGR during the forecast period. Presently, mass flow controllers are used in numerous industries such as semiconductor, oil & gas, chemicals, food & beverages, pharmaceuticals, water & wastewater treatment, and metals & mining. All applications allied with these industries demand mass flow controllers having the ability to measure low, medium, and high flow ranges. The application requirements vary with the criticality of the process. Some of the applications such as medical equipment, healthcare devices, and semiconductor manufacturing processes need ultra-low flow rate mass flow controllers. The ultra-low flow rate mass flow controllers are also likely to be highly adopted for industrial applications, namely analytical instruments, coating, dispensing, leakage testing, and industrial automation, which, in turn, is expected to create several opportunities to low flow rate mass flow controller providers in the near future. Owing to this, low flow rate mass flow controllers are expected to hold the largest share of the overall mass flow controller market in 2017.
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Following is the break-up of the profiles of primary participants for the report:
- By Company: Tier 1 - 20%, Tier 2 - 55%, and Tier 3 - 25%
- By Designation: C-Level Executives - 50%, Directors - 25%, and Managers - 25%
- By Region: North America - 60%, Europe - 10%, APAC - 20%, and RoW - 10%.
In this research report, the mass flow controller market is segmented on the basis of material, connectivity technology, flow rate, application, industry, and region. The market has been segmented based on material into stainless steel, exotic alloys, and others (Iron, Brass and Bronze). Based on connectivity technology, this market has been classified into Analog, PROFIBUS, RS485, ProfiNet, FOUNDATION Fieldbus, Ether CAT, Ether Net/IP, Modbus RTU, Modbus TCPIP, and Device Net. Based on flow rate, the market has been classified into low, medium, and high flow rate. This market based on application has been segmented into catalyst research, gas chromatography, spray and coating processes, fluid and gas processing and control, fuel cell, solar cell, and heat treating.
Another research titled Fluid Handling System Market Global Forecast to 2023 says, the fluid handling system market is projected to grow at a CAGR of 4.8% between 2017 and 2023 to be worth $73.28 billion by 2023. Pumps expected to hold a major share of fluid handling system market during the forecast period. Water and wastewater industry to hold the largest share of the fluid handling system market during the forecast period. Fluid handling system market in RoW expected to grow at the highest CAGR during the forecast period. Companies such as Alfa Laval AB (Sweden), Colfax Corporation (US), Crane Co. (US), Flowserve Corporation (US), Graco Inc. (US), Bürkert GmbH & Co. KG (Germany), Dover Corporation (US), INDEX Corporation (US), Ingersoll-Rand plc (Ireland), SPX Flow, Inc. (US) have been profiled in this 194 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1203566 .
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