According to a new report by the Global Industry Analysts Inc, shows the global flow meters market is projected to cross 3 million unites in terms of volume and US$4.5 billion in terms of value by 2010. Even though conventional flow meters have taken a backseat, providers are upgrading traditional systems to meet high demands of precision and reliability.
“Flow Meters: A Global Strategic Business Report” released by Global Industry Analysts, Inc provided an insight into process control industry, fluid measurement industry, flow measurement tools and techniques, regulatory environment in major regional markets, types of flow meters and related components, technological and product developments, M&A activity. Market data and analytics in value and volume for United States, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America is also analyzed in the new report.
According to Global Industry Analysts, Inc. the following segments separate the report – differential pressure flow meters, magnetic flow meters, mass flow meters, open channel flow meters, positive displacement flow meters, turbine flow meters, ultrasonic flow meters, anemometers, and vortex flow meters.
The United States is the largest flow meters market and is projected to account for more than 1 million units in volume and US$1.3 billion in value by the year 2010. Also, the United States process control industry ranks first in the supply pf process control equipment, accounting for a share of approximately 45 percent. According to the study, Asia-Pacific is the fastest growing flow meters market and is projected to register a CAGR of over 6.1 percent in volume and 4.3 percent in value during the ten-year analysis period.
Ultrasonic flow meters market is projected to account for over US$700 million in terms of value and 400 thousand units by the year 2010. Accuracy and reliability, apart from the advantages of minimal installation and maintenance cost, are likely to drive coriolis flow meters market, though they are highly priced and cumbersome. Differential pressure flow meters market accounted for the largest volume share of about 25% in the year 2006 while mass flow meters market accounted for over 21% in terms of value share during the same year.
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SOURCE Global Industry Analysts, Inc.
Nicole Camiola
New Equipment Digest
Online Content Editor