Flow Meters Market Overview:
A flow meter is a device used to measure the volume or mass of a gas or liquid. Flow meters are referred to by many names, such as flow gauge, flow indicator, liquid meter, flow rate sensor, etc. depending on the particular industry. Flow meters are used to measure rivers, lakes, streams etc. Global expansion prospects for the key players are also becoming promising with the mergers and acquisitions of the small players in the industry.
Flow Meters Market Size:
Flow Meters market is valued at USD 6.56 billion in 2017 and is estimated to grow at a CAGR of 5.94% during forecast period 2017 to 2025.
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Flow Meters Market Drivers and Restraints:
The growing concern for modernization of processes and operations in industries increased the demand for flow meters. Infrastructural changes in various industries like oil and gas, power and others are expected to promote the expansion of the market. Additionally, the changing geographical structures, alterations in the climate and the support from government bodies are also projected to fuel the demand for flow meters. The device has to be arranged properly to have correct results and thus, require experienced people. Therefore, the lack of such skilled technicians is expected to hamper the rapid expansion of the market over the forecast period.
Flow Meters Market Geographical segmentation:
The Flow Meters Market is geographically segmented into North America, Europe, Europe, South America, and Middle East and Africa. The Asia Pacific is the largest market for flow meters and is expected to continue to lead the market till 2022. Asia Pacific region is expected to witness strongest growth during the forecasting period, mainly because of the strong rise in demand from different industries in this region. Rapid industrialization in the Middle East is also expected to accelerate the demand in the market during next few years.
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Key Players of Flow Meters Market:
The key players of flow meters market are Honeywell, Siemens, Emerson Electric Co., ABB Ltd., Yokogawa Electric, Azbil, Badger Meter, Krohne Messtechnik, Schneider Electric, Endress Hauser., and others.
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