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Flow Meter Market Analysis
- Report ID: GMI5075
- Published Date: Feb 2023
- Report Format: PDF
Flow Meter Market Analysis
With respect to the product, flow meter market share from the differential flow meter segment accounted for over USD 2 billion in 2022. Differential flow meters require low maintenance, can work in harsh environments, and boast increased suitability for low and high temperatures. Owing to these attributes, these are extensively utilized in oil and power generation industries globally.
In terms of industry verticals, the overall revenue from the oil & gas segment is projected to cross USD 4 billion in revenues by 2032. The growth of this segment can be attributed to the swift adoption of flow meters, particularly ultrasonic flow meters, in the oil and gas sector. These devices are used to measure fluid flow rates at extreme temperatures and pressures without the risk of contamination, driving demand for the product. Additionally, increased regulatory approvals and the development of new technologies are expected to further bolster the segment growth.
Asia Pacific flow meter market is foreseen to exhibit over 8% CAGR from 2023 to 2032. The positive outlook of the food & beverages industry, driven by the mounting demand for packaged food items in countries such as India and China, will boost regional industry growth. For instance, according to IBEF estimates, consumers of packaged food & beverages in India will reach 176 million by 2026. Thus, the flourishing F&B sector will positively influence the industry dynamics.
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Flow Meter Market Scope
