As cited by 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 meter market is estimated to expand significantly over 2021-2027.
 

Increasing product utilization across a variety of applications, growing emphasis on technological advancements, and subsequent product innovation are major factors driving global flow meter market growth.
 

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For instance, ABB launched its Power over Ethernet (PoE) flow meters in May 2021, with their latest editions of the electromagnetic flowmeter ProcessMaster and mass flowmeter CoriolisMaster.
 

For the record, flow meters with ethernet connectivity provide simplicity, better flexibility, and reliability for operations in process automation, while increasing the real-time data visibility. These systems can unlock the previously hidden data in field devices like conductivity, measurement values on density, or concentration of medium, further assisting customers in all industries save costs across their plants by finding redundant measurement points.
 

Based on product type, global flow meter market share from the thermal segment is estimated to expand at 4% CAGR over the study duration owing to rising demand for the product in a variety of applications, such as combustion air measurement in large boilers and gas chromatography among others.
 

On the basis of industry vertical, the semiconductor segment is projected to grow at a CAGR of 6% over the speculated timeframe on account of growing adoption of flow meters in several semiconductor manufacturing processes, including physical vapor deposition (PVD), chemical vapor deposition (CVD), and others.
 

On the geographical front, the Latin America market expected to grow at 3% CAGR and is poised to amass considerable returns over the estimated timeline, primarily driven by increasing prominence of renewable energy generation in the region.
 

Prominent players profiled in global flow meter industry are Panasonic Corporation, Omron Corporation, McMillan Flow Products, Keyence Corporation, Innovative Sensor Technology IST AG, Hydac Electronic Ltd., Honeywell International Inc., Festo, Emerson Electric Co., Brooks Instrument LLC, Alicat Scientific Inc., wenglor, TSI, TE Connectivity, SONOTEC GmbH, SIKA Dr. Siebert und Kühn GmbH & Co. KG, Siemens AG, Sick AG, Sensirion AG, and Renesas Electronics Corporation.