The intelligent flow meter market is poised for remarkable growth in the coming years, driven by the increasing demand for precise measurement and monitoring of industrial fluids to optimize their usage. In 2020, the market reported an estimated shipping size of 53,78,749 units, and this upward trend is expected to continue, particularly in the oil and gas management sector worldwide. Additionally, industries like water and wastewater, power generation, and pulp and paper are also anticipated to widely adopt measurement technology and instruments in their operations.
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The integration of smart measurement solutions through IoT is expected to fuel the demand for intelligent flow meters in the near future. Product manufacturers are increasingly incorporating Internet of Things (IoT) sensors to provide intelligent metering solutions that enable automatic meter reading by collecting data remotely and automatically.
Despite the challenges brought on by the COVID-19 pandemic, the intelligent flow meter market is projected to experience a robust resurgence, supported by technological advancements in products and an increased awareness of their financial and environmental benefits.
The chemical and water & wastewater industries are emerging as primary application areas for intelligent flow meters, with magnetic, differential pressure, and ultrasonic flow meters playing a vital role in ensuring worker safety and enhancing efficiency. Moreover, the food and beverages industry is witnessing widespread adoption of intelligent flow meters to measure and control raw materials, resulting in increased productivity and reduced expenses.
Magnetic flow meters hold a dominant position in the intelligent flow meter market due to their accurate detection capabilities and low maintenance requirements. The Asia Pacific region is expected to hold a significant revenue share in the market, driven by increased investments in various industries and a strong focus on IoT integration.
Despite challenges related to the high initial investment required for coriolis and magnetic flow meters, ongoing product improvements and advancements, such as wireless magnetic meters and clamp-up goods, are providing more options for adoption.
In April 2022, Yokogawa Electric Corporation made an announcement regarding the release of the OpreXTM Vortex Flow Meter VY Series. These flow meters are SIL2 certified and comply with essential explosion-proof requirements (IECEx, ATEX, FM, FMC). The new OpreX Field Instruments product series was initially launched in Southeast Asia, Oceania, India, the Middle East, and South America, with the exception of Brazil.
During November 2021, Brooks Instrument introduced its innovative GP200 Series pressure-based mass flow controller (P-MFC) at SEMICON Europa in Munich, Germany. The GP200 Series mass flow controller is the industry’s first entirely pressure-insensitive, pressure-based mass flow controller designed primarily for advanced etch and chemical vapor deposition processes in semiconductor production.
Key players in the global intelligent flow meter market include ABB, Emerson Electric Co., Siemens, Honeywell International Inc., Yokogawa Electric Corporation, Azbil Corporation, BrooksInstrument, Sierra Instruments, Inc., KROHNE Messtechnik GmbH, General Electric, Riels® Instruments S.r.l., KOBOLD Messring GmbH, DISTRIBUIDORA INTERNACIONAL CARMEN, S.A.U, Baker Hughes, and Fuji Electric Co., Ltd.
Global Intelligent Flow Meter Market: Regional Classification
North America:
Europe:
Asia Pacific:
Latin America:
Middle East and Africa:
Rest of Middle East and Africa
Key Elements Included In The Study: Global Intelligent Flow Meter Market
Intelligent Flow Meter Market by Product/Technology/Grade, Application/End-user, and Region
Executive Summary (Opportunity Analysis and Key Trends)
Historical Market Size and Estimates, Value, 2019 – 2022
Market Value at Regional and Country Level, 2023 – 2030
Market Dynamics and Economic Overview
Market Size in Value, Growth Rates, and Forecast Figures, 2023 – 2030
Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
Regional and Product/Grade/Application/End-user Price Trends Analysis
Value Chain and Five Forces Analysis
Regional/Sub-region/Country Market Size and Trend Analysis
Company Market Share Analysis and Key Player Profiles
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