According to the research report titled ‘Flow Meter Market Size, By Product Type (Thermal, Differential Flow, Coriolis, Ultrasonic, Vortex), By Industry Vertical (Oil & Gas, Pharmaceutical, Food & Beverages, Chemical, Healthcare & Life Science, Semiconductor, Water & Wastewater Treatment), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global flow mater market is anticipated to accrue massive revenues by the year 2027.
 

Paradigm shift towards industrial automation in developing nations, government initiatives to induce semiconductor manufacturing vertical, surging adoption in oil & gas and wastewater sectors, and soaring demand in food & beverage industry are the major growth determinants for flow meter market.
 

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Rising product proliferation across renewable energy applications, increasing efforts for technological improvements and product innovation, alongside surge in pharmaceutical production due to Covid-19 pandemic are expected to boost the product demand in the coming years.

On the downside, high costs of Coriolis as well as magnetic flow meters will restrain product adoption, thus arresting the market growth.

Based on product terrain of flow meter market, the thermal segment is expected to grow at a CAGR of 4% over the assessment period, owing to increasing demand in a variety of applications, including combustion air measurement in big boilers and gas chromatography among others.

In terms of industry vertical, the semiconductor segment is expected to record 6% CAGR over the forecast period. The expansion is attributed to increasing use of flow meters in semiconductor manufacturing processes such as chemical vapor deposition (CVD), physical vapor deposition (PVD), and others.

Considering the regional landscape, Latin America industry is estimated to see substantial growth with 3% CAGR through 2027, owing to rising importance of renewable energy generation in the region.

The key players in worldwide flow meter market are Wenglor Sensoric Group, TSI Inc., TE Connectivity, SONOTEC GmbH, SIKA - Dr. Siebert & Kuehn GmbH & Co. KG, Siemens AG, Sensirion AG, Renesas Electronics Corporation, Panasonic Corporation, Omron Corporation, McMillan Flow Products, Keyence Corporation, Innovative Sensor Technology IST AG, HYDAC Technology Corp., Honeywell International Inc., Festo, Emerson Electric Co., Brooks Instrument, and Alicat Scientific Inc.