San Francisco, CA -- (SBWIRE) -- 02/06/2019 -- Global Flowmeter Market: Overview
The global flowmeter market has witnessed steady growth over the years, owing to the convenience it provides to the oil and gas industry. Flowmeter is a device used in measuring the mass and volume of liquid and gas. Depending on the specific industry, this device is referred by many names such as flow indicator, flow gauge, liquid meter, and flow rate sensor. Open channels such as streams or rivers can also be measured with flowmeters. This device also provides accuracy and resolution in fluid measurement.
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A report on the global flowmeter market to be added to the vast repository of Transparency Market Research pulls out every stop to present in-depth information on it. The report would enable key stakeholders in the global flowmeter market to gain proper insight into the growth drivers and headwinds. This report would provide an objective on the competitive landscape and dissect each product, application, and regional segment to understand which ones hold out solid promise.
Global Flowmeter Market: Trends and Opportunities
Flowmeter is mainly used to provide precise monitoring and flow control. Many industries such as aerospace require accuracy while calculating the quantity. Flowmeter also helps in measuring water flow in a vineyard with high accuracy. Such benefits are believed to be driving the global flowmeter market. Apart from these, growing demand for flow rate measurement in wastewater and water management, and rising adoption of flow rate measurement instruments and technologies in various industries are also expected to boost the global flowmeter market.
Flowmeter is widely adopted in the industries such as pulp and paper, oil and gas, power generation, and food and beverage. Rapid incorporation of technology and Internet of Thing (IoT) into flowmeter makes its more demanding to various industry. Thus, increasing demand for smart flow rate measurement solutions from various industries are also anticipated to fuel the global flowmeter market. Flow meter enhances the efficiency and reliability of liquid flow rate measurement.
However, lack of skilled professional, high costs of advanced flowmeter, and lack of understanding about smart flow meter's operational processes may hinder the growth in the global flowmeter market. Nonetheless, such deterrents may not impact the momentum expected in the global flowmeter market in the near term.
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Global Flowmeter Market: Market Potential
At present, maximum demand is coming from oil and gas industry. This industry is heavily investing on innovative solution and products for measuring flow rate of gases, liquids, and vapors. Growing demand for intelligent meters from this industry, and high emergence of technology in the oil and gas industry are believed to be fueling demand for smart flow rate measurement device, which in turn is expected to boost the global flowmeter market.
Global Flowmeter Market: Regional Outlook
Geographically, Asia Pacific is expected to lead the global flowmeter market as the region has seen rapid urbanization. Rising demand for adequate power generation, and growing need for wastewater management could also be responsible for fueling the global flowmeter market in the region.
Global Flowmeter Market: Competitive Dynamics
Some of the prominent players operating in the global flowmeter market are Emerson Electric, KROHNE, Honeywell, ABB, Siemens, Landis+Gyr.
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