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Thermal Flow Meter Market Overview
The Thermal Flow Meter Market size is
forecast to reach $880.5 million by 2027, growing at a CAGR of 6.52% from 2022
to 2027. The mass flow of clean gases including air, nitrogen, hydrogen,
helium, ammonia, argon, and other industrial gases is typically measured with
thermal flow meters because thermal flow meters with data loggers can monitor
compressed air consumption and waste. In addition, for stack gas monitoring
(flue gas) or air emission monitoring, thermal mass flow meters are utilized in
conjunction with continuous emissions monitoring systems. This continuous
emission monitoring systems are mainly used as chart recorders as they
continuously record, collect and report the required data related to emission
of gasses through transmitters. In addition, stringent government
regulations and policies to check environment pollution is creating the demand
for continuous emission monitoring systems thereby driving the thermal flow meter
industry. Further, the thermal flow meter market is primarily driven by the
growth of the oil and gas industry. Also, thermal flow meters growing demand
from the water and waste management industry is boosting its demand, which is
further accelerating the growth of the thermal flow meter industry outlook. Furthermore,
demand for technologically advanced thermal flow meters by end user industries is
creating new opportunities for various players in the market there by
increasing the thermal flow meter market share in the forecast period 2022-2027.
Thermal Flow Meter Market Report Coverage
The report: “Thermal
Flow Meter Report– Forecast (2022-2027)”, by IndustryARC covers an in-depth
analysis of the following segments of the Thermal Flow Meter Industry.
By Type: Insertion Thermal Flow Meter, Portable
Thermal Flow Meter, Inline Thermal Flow Meter, Bypass Thermal Flow Meter, and
Others
By Sensor: Temperature Sensors and Flow Sensors
By Heat Measurement: Constant Temperature Differential
Meter and Constant Current Differential Meter
By End Users: Oil and Gas, Power, Chemical,
Metal and Mining, Food and Beverage, Pulp and Paper, Pharmaceuticals, Textile,
Water and Waste, and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK,
Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of
Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New
Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil,
Argentina, Colombia, Chile, and Rest of South America), Rest of the World
(Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa
(South Africa, Nigeria, and Rest of Africa))
Key Takeaways
- Asia-Pacific region is anticipated to dominate the thermal
flow meter market, owing to the growing oil and gas, food and beverage,
and such industries.
- The increasing need for continuous emissions monitoring
systems is a significant driver driving the growth of the thermal flow
meter market since continuous emissions monitoring systems are used to
monitor, analyze, and report the required data on gas emissions regularly.
- The growing demand for highly technological thermal flow meters by various end-user sectors is creating new prospects for market growth.
- Thermal Flow Meter companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.
Global Thermal Flow Meter Market Value Share, By Region, 2021 (%)
For More Details on This Report - Request for Sample
Thermal Flow Meter Market Segment Analysis- By Type
Based on product, insertion thermal flow meter
segment is analyzed to grow with the highest CAGR of 7.5% during the forecast
period 2022-2027. Insertion thermal flow meter is a form of a temperature
measurement instrument that measures heat transfer across a portion is an
insertion thermal flow meter. It is ideal for high-pressure and
high-temperature applications such as oil and gas, chemical, and other
comparable sectors, whereas other types, such as portable thermal flow meters,
can not be utilized for such applications. Also, the ease of installation
is one of the primary benefits of the insertion-type thermal flow meter. Thus,
these factors are playing a major role in increasing the demand for insertion
flow thermal flow meters, which is further benefiting the segmental growth of
the market.
Thermal Flow Meter Market Segment Analysis- By End-Use Industry
The oil
and gas sector is anticipated to witness the fastest growth in the global thermal
flow meter market with a CAGR of around 7.7% during 2022-2027. Thermal flow
meters are widely utilized in oil and gas applications since thermal mass flow
technology directly detects the flow of gases at the molecular level, it has
become an industry standard for gas mass flow control. Hence, making it ideal
for oil and gas application. Moreover, in the oil and gas industry thermal flow
meter is used along with flow chart recorders to track the temperature,
pressure, and flow of oil and gas. Moreover, the expanding new facility
development related to the oil and gas industry to increase the production
related to oil and gas is further accelerating the market growth. For instance,
in October 2021, North Dakota has approved preliminary funding for a US$2.8
billion gas-to-liquids (GTL) plant planned for Trenton in Williams County,
North Dakota, U.S, with construction set to begin in 2023. Hence, such oil
and gas facility development to increase the oil and gas production is
anticipated to boost the thermal flow meter demand, thereby, propelling the thermal
flow meter market growth during the forecast period.
Thermal Flow Meter Market Segment Analysis- By Geography
Asia-Pacific region accounted for the largest share of around 33% in the global thermal flow meter market in 2021 and is also anticipated to have significant growth during the forecast period. In the Asia-Pacific region, the industrial sector such as oil and gas, waste and water, and other such industries are growing, owing to this it is expected that the demand for thermal flow meters will increase, which will further expand the market growth. For instance, according to Invest India, Under the Sustainable Alternative Towards Affordable Transportation (SATAT) scheme, the Indian government intends to build approximately 5,000 compressed biogas (CBG) facilities by 2023. With this, the oil and gas industry will get the benefit of increased production and the demand will be created for thermal flow meters to measure and monitor the liquid and gas pressure. Also, according to International Trade Administration (ITA), during 2021-2025, China's strong governmental support and investment focus will present chances in sewage pipeline maintenance, treatment of black and odorous water bodies, and development of wastewater treatment facilities in second and third-tier cities. Therefore, these government measures are supporting the growth the oil and gas, water and waste, and other such industries in the Asia-Pacific region, further boosting the thermal flow meter market size.
Thermal Flow Meter Market Drivers
Growing water and waste industry
The thermal flow meter is utilized
in conjunction with the pressure filter during the water treatment process. It
can be put in a variety of locations, such as the inlet and outflow of the
pressure filter, to measure water flow during water treatment. As a result,
thermal flow meters bring enormous value to the effective monitoring and
management of the water treatment process. The construction of water filtration
plants around the world is expanding, which is expected to increase the thermal
flow meter demand to test the water pressure. For example, the construction of
a water filtration plant in Nowgam village, India, is scheduled to begin in
2021; this project would offer clean drinking water to nearly 40,000 residents
in four villages in the Anantnag region. Furthermore, the Rose Valley Water
Treatment Plant in West Kelowna is set to open in 2021, providing safe drinking
water to nearly 18,000 households. As a result of the increased development of
water treatment plants, the demand for thermal flow meters is increasing,
resulting in the expansion of the thermal flow meter market.
Increasing power generation industry
In power generation facilities
thermal power meter is utilized for heat input and temperature measurements in
the transmitters to determine the fluid flow. The increasing electricity needs
across the world will drive the power generation industry, which in turn will
fuel the demand for thermal flow meters hence, creating an opportunity for
market growth. For instance, according to U.S. Energy Information
Administration (EIA), in the year 2020, the global net electricity generation
to the grid was 24,993 billion watts, and it has been projected that by 2025,
this will increase to 28,164 billion watts, an increase of 12.7%. Thus, the
expanding electricity generation will accelerate the demand for components such
as transmitters and since transmitters require frequent measurements, this will
create an opportunity for the thermal flow meter market growth during the
projected forecast period.
Thermal Flow Meter Market Challenges
Diminishing sensitivity, composition change, and other factors are limiting the market growth
The thermal mass flow meter has decreased
sensitivity at high velocities, which affects the thermal flow meter’s
performance and accuracy. Furthermore, any change in gas composition reduces
the thermal flow meter's accuracy. The sensor buildup increases the bulk, slows
response time, and lowers the thermal flow meter's accuracy. Accurate flow
measurement in big air ducts is also difficult since the flow profile is
determined by pipe diameter, which necessitates very long straight lines that
are often unavailable in these circumstances. Hence, these factors limit the
performance and accuracy of thermal flow meters, restricting the growth of the
thermal flow meter market.
Thermal Flow Meter Industry Outlook
Product launches, Partnerships, and R&D activities are key strategies
adopted by players in the market. Thermal Flow Meter top
10 companies include:
- Emerson Electric
- Bronkhorst
- ABB LTD
- Eldridge Products
- Siemens AG
- Sage Metering
- SICK AG
- Thermal Instrument Company
- Honeywell International Inc.
- Fluid Components International
Recent Developments
- In January 2021, Badger Meter, Inc. acquired Analytical Technology, Inc., which is specialized in the design, manufacture and distribution of water quality instruments based on electrochemical and optical sensors. This acquisition will enhance the product portfolio of Badger Meter, Inc. in the water and wastewater industry.
- In October 2020, Endressa and Hauser launched a new generation of thermal mass flow meter Proline t-mass F/I 300/500 flow meters. This product can be used in the oil and gas industry for quantity measurement, process control, cost allocation, leak detection, and other applications. Such Product launches related to thermal flow meters will benefit the market growth.
- In June 2020, ABB Ltd., has launched its Sensyflow FMT700-P Compact thermal flow meter. The P-Compact is designed to test traditional turbochargers and components, including throttle valves, intake fans, and air filters, and examine the performance of hydrogen fuel cells.
Relevant Report Titles:
Heat Flow Meters Market -
Forecast(2022 - 2027)
Report Code: ESR 0306
Flow Meter Market – Forecast (2022 - 2027)
Report Code: AIR 0389
Magnetic Flow meter Market – Forecast (2022 -
2027)
Report Code: ESR 76857
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