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According to the latest report by IMARC Group, titled “Flow Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global flow meter market size reached US$ 7.6 Billion in 2021. A flow meter refers to an instrument that is used for measuring the nonlinear, volumetric, linear, and mass flow rate of a gas or liquid. The main components of flowmeters include transmitters, transducers, and a primary device. The fluid passes through the primary device, which is further sensed by the transducer. After this, the transmitter generates a usable flow signal from the original transducer signal. At present, flow meters are available in several variants, which include open channel, optical, velocity, differential pressure, mass, positive displacement, and mechanical flowmeters. These variants offer distinct characteristics that are ideal for different applications across the metallurgy, home energy, pharmaceuticals, petrochemicals, paper and pulp, and building industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Flow Meter Market Trends:
The increasing product utilization across diverse industry verticals, such as the automotive, manufacturing, oil and gas, medical, and wastewater industries, is primarily driving the demand for high-quality flow meters. The rising establishment of manufacturing facilities in developing countries, including India and China, is further fueling the global flow meter market growth. Other than this, the emergence of Industry 4.0 has led to a shift toward customization and automation, which has increased the demand for intelligent controlling and monitoring tools and technologies, such as flow meters. Moreover, governments of various countries have been implementing newer regulations for industries to effectively treat the water prior to discharging it into water bodies, which, in turn, is creating a positive outlook for the market. Looking forward, the market is projected to grow at 6.5% during the forecast period (2022-2027).
Market Summary:
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