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(IT-NEWSWIRE.COM, October 18, 2019 ) Market Overview:
Measurement technology provides the tools for optimizing production processes and dosing operations. In addition to pressure and temperature, the flow rate is one of the most important measured variables.
A flow meter is an instrument used to measure linear, nonlinear, volumetric or mass flow rate of a liquid or a gas. The increased focus on modernizing the processes and operations in industries is set to increase the demand for flow meters.
Flow meters market is segmented by type, application, and geography. By type the market is segmented into Differential Pressure, Positive Displacement, Magnetic, Ultrasonic, Coriolis, Turbine and Vortex. By application the market is further segmented by Water & Waste Water, Oil & Gas , Chemicals, Power Generation, Pulp & Paper, Metals & Mining, Food & Beverages. whereas by geography the market is divided into North America, South America, Europe, Asia Pacific and Rest of the World.
Market Dynamics:
Rising demand for flow rate measurement in water and wastewater management applications across the globe is expected to drive market growth over the forecast period.
Adoption of flow rate measurement technologies and instruments is also likely to gain traction in other sectors, such as oil and gas, pulp and paper, food and beverage, and power generation.
Moreover, these industries need to monitor the flow rate and water usage in their respective process which involves the use of flow meters.
This has led to an increased usage of flow meters in various sectors of the market.
The increased focus on modernizing the processes and operations in industries increased the demand for flow meters. However, these flow meters are not compatible with modern machines and need to be replaced by the new ones which are smarter and intelligent. However, the cost of replacing the traditional flow meters is high and is a major factor restraining the growth of the flow meters market
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Market Segmentation:
Based on the flowmeter type, the flow meters market is classified into differential pressure, positive displacement, magnetic, ultrasonic, Coriolis, turbine, and vortex.
End-User segment Analysis
Based on End User, the flow meters market is classified into Water & Waste Water, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Metals & Mining, Food & Beverages. Currently oil and gas are the dominant segments and it accounts for approximately XX% of the market.
In the oil and gas industry, the flow of liquids and gases must be measured during every phase of exploration, production, and transportation. Upstream operations span offshore and onshore activities, including well testing, enhanced oil recovery, fractionation, completion, and separation to recover and prepare crude oil and natural gas. These applications demand the highest flow meter accuracy and reliability, as well as long term stability and cost-effective solutions.
Different flow meters engaged in this industry include gas ultrasonic flowmeters for custody transfer, liquid ultrasonic flowmeters for custody transfer, mass flow meters for custody transfer, electromagnetic flowmeters, vortex flow meters.
Therefore the need for such measuring equipment followed by the prospects in the oil and gas industry to drive the flow meter devices market.
Geographical Analysis:
By geography, the market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
North America is expected to grow with high CAGR during the forecast period due to the shale oil and gas prospects in the region.
Shale oil and gas drilling will likely continue its pace in the coming year as the shale producers are focusing on drilling their best to extract oil and gas at the present low input cost.
While Canada’s proven crude oil reserves are the third-largest in the world and the country has the nineteenth largest proven natural gas reserves globally. The average production per day of 3.5 million barrels of crude oil and 13.7 billion cubic feet of natural gas. Therefore the prominent oil and gas industry in the country will act as an opportunity for the flow meters use in the country.
Competitive Analysis:
Some of the major players include AGC Solar, Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar, Borosil Glass Works Ltd., Henan Huamei Cinda Industrial Co., Ltd, Guangfeng Solar Glass.
View Full Report Summary: https://www.datamintelligence.com/research-report/flow-meters-market
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For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: pr@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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