The growing need for reliable measurement and monitoring of industrial fluids for optimum utilization is driving the market growth.

- The revival of the oil and gas industry and the expanding infrastructure in the water and wastewater industry are likely to drive growth in the medium- to long-term. There are growth opportunities in developing economies, such as China and India, which have developed their oil and gas, and chemical industries.

- The market for magnetic flowmeters is expected to hold a large share of the intelligent flow meter market during the forecast period because of the high accuracy provided by these flow meters. In addition, the absence of moving parts in the intelligent flow meters reduces the maintenance costs, which has boosted the adoption of these flow meters. However, unskilled labor, lack of understanding pertaining to operational processes of smart flow sensors, and high initial costs associated with these advanced products are factors likely to threaten market growth.

- With the outbreak of COVID-19, the production has come to an abrupt end in China during the months of February and March, which influenced the demand of the product in the end user industries worldwide, and influenced the price as well. Oil and gas, for instance, will be adversely affected as oil prices stay lower than expected until Q3. As a result of the factory shutdowns in China during Q1, many disruptions have been felt across the supply chain, though the full effects are of still not clear.

Key Market Trends

Water and Wastewater Industry to Witness the Highest Growth

- The current challenges of water availability and sustainability are largely attributed to an enormous increase in demand. However, the Environmental Protection Agency (EPA) claims that over one trillion gallons of water is wasted annually due to household leaks. It is not uncommon for drinking water distribution networks to experience losses greater than 50%.

- The US Environmental Protection Agency (EPA) has accelerated investment in the nation's aging water infrastructure. The EPA has issued seven WIFIA loans to help finance over USD 4 billion, in water infrastructure projects.

- Intelligent metering technology is perceived as part of the solution to the problem of water waste. Flowmeters, for example, can be integrated at every stage of the water cycle to improve the efficiency and sustainability of sourcing, treatment, and distribution.

- Electromagnetic flow meters are one of the leading technologies for improving the sustainability of water and wastewater treatment. For instance, The WaterMaster series of electromagnetic flowmeters from ABB provides detailed diagnostics to support rapid decision making in a range of application areas. They can support preventative maintenance, predictive strategies for water usage, and leak detection by comparing real-time measurements to nominal data.

Free Sample report for this report is available :-
https://www.statzyreports.com/report/sr497489/intelligent-flow-meter-market

Asia Pacific to Emerge as the Fastest Growing Market

- The growth of this region is primarily driven by the Asia Pacific region due to countries such as China, India, and Japan. The number of investments in water & wastewater, energy and power, refining, chemicals, and industrial infrastructure activities is increasing in the developing economies such as China and India which drives the demand for integration of IoT, which requires the implementation of intelligent flow measurement solutions for accurate and cost-effective measurement of liquid, gas, or steam flowing through or around the flow meter sensors.

- The water and wastewater management industry are dominating in many countries in the Asia-Pacific region. According to WHO, reducing wastewater generation and implementing on-site sewage and wastewater technology are two strategies that can improve wastewater management.

- Furthermore, the Water Environment Partnership in Asia (WEPA) also aims to contribute to improving the water environment, by offering information and knowledge necessary for the enhancement of water environment governance. These factors have significantly contributed to market growth in the region.

- The ultrasonic and Coriolis segments are expected to witness significant growth in the region. The construction of new power plants using natural gas and the replacement of old power plants in countries such as India and China will help in increasing the demand for ultrasonic flow meters in this region due to the significant changes in the power sector and environmental concerns.

Competitive Landscape

The intelligent flow meter market is fragmented, with every other vendor providing multiple flowmeters applicable in various industries. The competitive rivalry among existing competitors is high. Moreover, the product innovation and expansion strategies of large companies expected to boost the demand of the intelligent flowmeter market. Major players are ABB Ltd, Omega Engineering Inc., Honeywell International Inc., and Emerson Electric Corporation, along with other emerging players. Some of the key developments in the area are:

- May 2019 - Emerson released the Micro Motion 4200 2-wire loop-powered Coriolis transmitter, a new design that makes it possible to replace existing 2-wire flow devices with minimal effort and without incurring additional power or cabling costs. The device can accommodate the largest line size (4”) of any 2-wire flow meter on the market and is the only such product to offer an onboard real-time clock for improved diagnostics.

- March 2019 - KROHNE released electromagnetic flowmeters WATERFLUX 3300, WATERFLUX 3070, and OPTIFLUX 4300. Together, with ultrasonic flowmeter OPTISONIC 3400 District Heating, they form KROHNE's flowmeter portfolio, to be used as part of a heat metering system.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

For sample report please visit : https://www.statzyreports.com/report/sr497489/intelligent-flow-meter-market
Contact Us:
Poojan Dogra
Public Relations Manager
Email : [email protected]
Email : [email protected]
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com