Jul 29, 2021 (Market Insight Reports) -- Selbyville, Delaware As cited by the research report titled 'Mass Flow Controller Market Size, By Material Type (Stainless Steel, Exotic Alloys), By Flow Rate, By Product Type, By Connectivity Technology, COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027', available with Market Study Report LLC, global mass flow controller market is projected to expand significantly over 2021-2027.
Global mass flow controller market growth is largely fueled by escalating product demand for renewable energy, water & wastewater treatment applications, coupled with increasing penetration of industrial automation technologies in developing nations.
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Notably, a flexible system integration along with favorable measuring accuracy and flow control are the major factors driving the demand for mass flow controller across various industries.
Based on material type, the industry is segmented into stainless steel and exotic alloys. On the basis of flow rate, the marketplace is divided into high flow rate, medium flow rate, and low flow rate. Speaking of the product type, the industry is categorized into thermal mass flow meter, differential pressure flow meter, and coriolis mass flow meter.
Considering connectivity technology, the worldwide mass flow controller business space is fragmented into analog, RS-485, profibus, profiNet, ethernet/IP, etherCAT, modbus RTU, foundation fieldbus and deviceNet. Among these, the profibus segment is anticipated to grow at a 5% CAGR over the forecast duration owing to the technology’s flexible system integration high dynamics, measuring accuracy, and optimum response are augmenting product demand, especially among OEMs.
Moving on, the industry vertical segmentation includes oil & gas, food & beverages, pharmaceutical, chemical, semiconductor, healthcare & life science, and water & wastewater treatment, among others. As cited in the report, oil & gas segment is likely to acquire around 10% market share by 2027 on account of rise in the number of favorable government initiatives aimed at improving oil & gas infrastructure.
As per the geographical analysis, global mass flow controller market size spans across North America, Middle East & Africa, Asia-Pacific, Europe, and Latin America. The report claims that Latin America market is anticipated to record a 3% CAGR over 2021-2027 owing to growing adoption of flow controller solutions across various end-use industries in this region.
Prominent players influencing the industry trends are Fcon Co. Ltd., Dwyer Instruments Inc., Dakota Instruments Inc., Christian Burkert GmbH & Co. KG, Brooks Instrument, Bronkhorst High-Tech B.V., Azbil Corp., Axetris AG, Alicat Scientific, Aalborg Instruments & Controls Inc., Vogtlin Instruments GmbH, Tokyo Keiso Co. Ltd., Teledyne Hastings Instruments, Sierra Instruments Inc., Sensirion AG, Parker-Hannifin Corporation, Omega Engineering Inc., Ohkura Electric Co. Ltd., New-Flow, MKS Instruments Inc., Kofloc (Kojima Instruments Inc)., Kelly Pneumatics Inc., Horiba Ltd., Hitachi Metals Ltd., and FC Technik AG.
Question & Answer: Global Mass Flow Controller Market
Question 1: How is the competitive landscape of worldwide mass flow controller industry defined?
Answer: Leading players in the industry are Dwyer Instruments Inc., Dakota Instruments Inc., Christian Burkert GmbH & Co. KG, Brooks Instrument, Bronkhorst High-Tech B.V., Azbil Corp., Axetris AG, Alicat Scientific, Aalborg Instruments & Controls Inc., Vogtlin Instruments GmbH, Tokyo Keiso Co Ltd., Teledyne Hastings Instruments, and Sierra Instruments Inc. among others.
Question 2: Why is global mass flow controller market witnessing an upward growth curve?
Answer: Global mass flow controller market growth is largely fueled by escalating product demand for renewable energy, water & wastewater treatment applications, coupled with increasing penetration of industrial automation technologies in developing nations.
Question 3: Why is global mass flow controller market from oil & gas segment generating strong revenue?
Answer: The oil & gas segment is likely to generate strong revenue share owing to rise in the number of favorable government initiatives aimed at improving oil & gas infrastructure.