Intelligent Flow Meter Market Size, Growth, Trend and Forecast to 2022 | MarketsandMarkets
Intelligent Flow Meter Market by Type (Magnetic, Coriolis, Ultrasonic, Vortex, Multiphase, Thermal, Turbine, Variable Area, & Differential Pressure)
United States, 11 March 2019 -- Intelligent Flow Meter Market by Type (Magnetic, Coriolis, Ultrasonic, Vortex, Multiphase, Thermal, Turbine, Variable Area, & Differential Pressure), Communication Protocol (PROFIBUS & HART), Application, and Geography - Global Trend & Forecast to 2022
The intelligent flow meter market is expected to reach USD 7.76 Billion by 2022, at a CAGR of 5.4% between 2016 & 2022. The growth of the market is driven by factors such as the benefits of accuracy, stability, and reliability offered by intelligent flow meters and high demand for these flow meters in the chemicals and water & wastewater industries. The rising industrial infrastructure activities and growing use of intelligent flow meters for diagnostic information, along with measurement data, are also supporting the growth of the market.
The multiphase flow meter market is expected to grow at a higher rate compared to other flow meters during the forecast period. This is due to their ability to measure oil, gas, and water simultaneously; the other flow meters can measure only one fluid at a time. Multiphase flow meters help to understand the amount of fluid extracted from the well before the separation process of the fluid. These flow meters are majorly used in the oil & gas and chemicals applications which are largest application for the intelligent flow meter market.
The intelligent flow meter market for water & wastewater applications is growing because of the increasing awareness regarding the hygiene and energy conservation by accurate measurement of water. Region such as North America and APAC are actively implementing intelligent flow meters, owing to the awareness about the benefits of the intelligent flow meters and increasing population, which is leading to the high demand for regular measurement of clean as well as disposable water.
APAC held the largest share of the intelligent low meter market in 2015; the market in APAC is expected to grow at a high rate between 2016 and 2022. The growing industrial infrastructural activities, increasing demand for accurate and effective devices to measure the fluid, rising population, and urbanization in this region are the major factors driving the growth of the intelligent flow meter market in APAC.
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