Boston, MA -- (ReleaseWire) -- 04/23/2014 -- Flow Meters Market by Type (Differential Pressure, Positive Displacement, Magnetic, Ultrasonic, Coriolis Turbine, Vortex and Others) and by Application (Water & Wastewater, Oil & Gas, Refining & Petrochemicals, Food & Beverages, Chemicals, Power Generation and Others) - Global Trends & Forecast to 2019
Flow meters are used to quantify the bulk fluid or gas movement. Different kinds of flow meters that are used to measure fluid or gas flows include differential pressure, positive displacement, magnetic, ultrasonic, coriolis, turbine, vortex, thermal mass, and others. Water & wastewater and energy sector find maximum application of such flow meters. In the recent years, differential pressure and positive displacement flow meters are gradually getting replaced by the smart meters such as ultrasonic and coriolis.
The report analyzes the global flow meters market trends and forecasts till 2019. The market size estimations have been provided in terms of value ($Million). The report also identifies prominent players and provides analysis for each player in terms of company overview, financials, products and services offered, recent developments, and company strategy.
The global flow meters market is projected to grow at a CAGR of 7.2% from 2014 to 2019 to reach a value of $7.9 billion. Magnetic flow meter dominated the global market in terms of value with ~$1.18 billion in 2013, followed by coriolis flow meter which was ~$1.02 billion for the same year. However, it is expected that the coriolis flow meter will surpass magnetic flow meter in terms of value by 2019.
The market is largely driven by hydrocarbon industry (oil & gas, refining & petrochemicals, and chemicals) and water & wastewater industry.
Due to the increasing population and new investment and projects coming in the Asia-Pacific, the Middle East, and Africa, especially in India and China, the emerging regions are expected to register maximum growth. All these factors, along with the growing flow metersindustry, will continue to drive its demand in the future as well.
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