Intelligent Flow Meter: Introduction
- An intelligent flow meter is used to measure fluidic phenomenon in a wide range of industrial as well as commercial applications
- An intelligent flow meter measures the velocity of a fluid with ultrasound or any other technique to calculate the volume flow accurately as compared to traditional flow meters
- Intelligent flow meters have one prominent advantage – they are not affected by external weather conditions and factors such as temperature, density, and velocity, owing to which they provide accurate measurement readings
- Intelligent flow meters use non-contact type sensors, such as a laser beam or an ultrasonic beam which sends and gets reflected back from flowing liquid or gas and the movement of the moving fluid is displayed on the screen
- Intelligent flow meters are used in various applications such as chemicals, food & beverages, metals & mining, oil & gas, pharmaceuticals, power generation, and water & wastewater
Rise in Demand for Intelligent Flow Meters for Use in Industrial Applications
- Intelligent flow meters are used in multiple industries and in water & wastewater applications, as these meters not only monitor the flow rate of a liquid or gas on a real-time basis but also provide feedback for the precise control of flow rate
- Demand for continuous and accurate flow measurement is fulfilled by the installation of flow meters in industries such as water & wastewater and food & beverages
- Use of intelligent flow meters helps in maintaining the stability of the flow of liquid or gas according to the velocity. It is also suitable for complex measurement activities in chemicals and oil & gas industries
- Furthermore, various factors are taken into consideration to improve the accuracy of intelligent flow meters, such as the use of technology, the type of fluid to be measured, and the application for which measurement is done
- As a result of these factors, demand for intelligent flow meters for industrial applications is growing, which is expected to drive the market during the forecast period
- However, high initial cost of coriolis and magnetic flow meters is a key element restraining the growth of the market. Additionally, less accuracy and fragility of intelligent flow meters is a major factor which is negatively impacting the growth of the global intelligent flow meter market.
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North America to Lead the Intelligent Flow Meter Market
- In terms of region, the global intelligent flow meter market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is anticipated to dominate the global intelligent flow meter market throughout the forecast period, as a large number of manufacturers of intelligent flow meters operate in the region
- Additionally, many well-established players based in North America are focusing on development of new technology in intelligent flow meters, which is expected to boost the intelligent flow meter market in the region during the forecast period
- The intelligent flow meter market in Europe and Asia Pacific is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.
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Key Players Operating in the Global Intelligent Flow Meter Market
The global intelligent flow meter market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancement and expansion to meet the rising demand for intelligent flow meters. Moreover, manufacturers are signing partnerships for the development of innovative products.
Key players operating in the global intelligent flow meter market are listed below:
- ABB
- Azbil Corporation
- Badger Meter, Inc.
- Baker Hughes Company
- Emerson Electric Company
- Endress+Hauser AG
- General Electric Company
- Honeywell International Inc.
- Krohne Messtechnik GMBH
- Schneider Electric
- Siemens AG
- Yokogawa Electric Company
- Others
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Global Intelligent Flow Meter Market: Research Scope
Global Intelligent Flow Meter Market, by Type
- Coriolis Intelligent Flow Meters
- Electromagnetic Intelligent Flow Meters
- Magnetic Intelligent Flow Meters
- Ultrasonic Intelligent Flow Meters
- Vortex Intelligent Flow Meters
- Others
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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