Intelligent Flow Meter Market

Intelligent Flow Meter Market Size, Trends & Growth (2022 - 2027)

An intelligent flow meter is utilized to gauge fluidic marvel in a wide scope of modern and business applications. A smart flowmeter measures the speed of a liquid with ultrasound or some other procedure to figure volumetric flow precisely contrasted with customary flowmeters. Shrewd flowmeters have one fundamental benefit: they are not influenced by outer climatic conditions or factors like temperature, thickness, and speed, because of which they give exact estimation readings.

The smart magnetic type flow meter market is expected to generate the highest revenue during the forecast period due to the lack of moving parts which reduces maintenance cost and is also capable of measuring back and forth flow with the same precision. The growth of the smart flowmeter market is primarily driven by the precision, stability, and reliability advantages that smart flow meters provide, the high demand for these flow meters in the chemical and water and wastewater industries, and increased investments in activities of industrial infrastructure.

Recent Developments:

• Industry News: Sulzer Announces Field Service Agreement with Nidec; Sierra Introduces New Website; Delta Controls turns into a merchant of Mobrey items; Opto 22 Announces New Director; Hawk Measurement and FLO-CORP combine.

• Commander ID300, the new incorporated mechanization solution for controlling Leroy-Somer IMfinity® engines, gives unique responses to specialized siphoning issues on account of its underlying knowledge.

• The TASI group (Harrison, Ohio; www.tasigroup.com) continues to grow its flow segment business with the recent acquisition of Sierra Instruments, Sierra Instruments Inc. (Monterey, California; www.sierrainstruments.com), a company global specialized in the manufacture of flow measurement instruments.

• Honeywell Process Solutions announced the launch of Q.Sonicmax, an ultrasonic gas flowmeter that provides the highest level of precision available in proprietary transfer processes.

Drivers and Restraints of Intelligent Flow Meter Market:

Drivers: 

The smart flowmeter is a suitable choice for the industrial environment due to the various offerings of advantages such as precision, precision, stability, and reliability. Smart flow meters are widely used in various industries such as chemical, food and beverage, oil and gas, metals and mining, pulp and paper, pharmaceutical, among others. The demand for smart flow meters is increasing for oil and gas applications to calibrate fluids with precision and precision, which in turn helps the growth of the smart flowmeter market. Additionally, the growing demand for smart flow meters in the chemical and wastewater industries is also supporting the smart flowmeter market.

Restraints:

However, the high initial cost of Coriolis and magnetic flowmeters is a key factor holding back market growth. Furthermore, the lower precision and fragility of smart flow meters is a major factor that is negatively impacting the growth of the global smart flowmeter market.

Intelligent Flow Meter Market Segmentation:

By Type

• Coriolis 
• Magnetic 
• Vortex 
• Multiphase 
• Ultrasonic 
• Variable Area 
• Differential Pressure 
• Thermal 
• Turbine 

Magnetic flowmeters are the most widely used in the water and wastewater industry, which is the leading end-user in the smart flowmeter market. These flowmeters are also used for flow measurement in industries such as chemical, food and beverage, pulp and paper, power generation, metals, and mining, among others.

By Offering

• Hardware 
• Software 
• Services 

The hardware parts offered by keen flow meter arrangement suppliers predominantly incorporate sensors, information lumberjacks, outline recorders, and transmitters. These gadgets are viewed as the primary parts of brilliant flow meter frameworks. They are the primary source through which flow measurement data is obtained in a timely manner. Data extracted by hardware components enables efficient analysis and feedback control to manage liquid and gas flow in pipelines. Therefore, hardware has a large share of the general market for flow measurement systems.

By Communication Protocol

• PROFIBUS 
• Modbus 
• HART 
• Others 

Intelligent Flow Meter Market Region-wise analysis:

Marked Segmentation based on the region:

1. North America
   1. U.S
   2. Canada

North America is expected to dominate the global smart flow meter market during the forecast period as a large number of smart flow meter manufacturers are operating in the region. Additionally, many well-established North American-based players are focusing on the development of new technologies in smart flow meters, which is expected to drive the smart flowmeter market in the region during the forecast period.

2. Europe
   1. Norway
   2. Germany
   3. Sweden

The smart flowmeter market in Europe is expected to grow at a substantial rate during the forecast period.

3. Asia Pacific
   1. China
   2. India
   3. Japan

Asia-Pacific dominates the smart flow meter market due to increasing industrial development and high demand for metering meters in the oil and gas industry. The high demand for smart flowmeters in metering processes in countries such as China and India is also driving the smart flowmeter market to reach new heights in the near future.

4. Latin America
   1. Brazil
   2. Mexico
   3. Argentina
5. Middle East and Africa

1. Middle East
2. Africa

Key Players of Market: 

The prominent players in the market of Intelligent Flow Meter are- ABB Ltd. (U.S.), Sierra Instruments Inc. (U.S.), Nidec Corporation, (U.S.), Honeywell International Inc. (U.S.), Endress + Hauser AG (Switzerland), General Electric Company (U.S.), Azbil Corporation (Japan), Krohne Messtechnik GmbH (Germany), Siemens AG (Germany), Yokogawa Electric Corporation (Japan) and American Industrial Partners (U.S.) among others.

IMPACT OF COVID-19 ON INTELLIGENT FLOW METER MARKET:

COVID-19 is an infectious disease caused by the new coronavirus. Largely unknown prior to this worldwide epidemic, COVID-19 has gone from a regional crisis to a global pandemic in just a few weeks. The World Health Organization (WHO) declared COVID-19 a pandemic on March 11, 2020.

COVID-19 has not only affected the healthcare sector but has also had an impact on the global economy. With a growing number of countries imposing and extending blockades, economic activity is likely to continue to decline, which in turn will have an impact on the global economy. In addition, major industries such as oil and gas, chemicals, metals and mining, pulp and paper, and food and beverages in the regions affected by COVID-19 have been negatively affected in this scenario due to plant closures, chain disruption supply, and a subsequent decline in demand for products offered by these industries.