ALBANY, New York, Aug. 30, 2019 /PRNewswire/ -- Transparency Market Research has recently published a new market report on the global mass flow controller market that explains about its overall dynamics. According to the research report, the mass flow controller market initially stood at a valuation worth US$0.6 bn in 2017.
The mass flow controller market is expected to thrive at a CAGR of 8.8% over the course of the given forecast period from 2017 to 2026. With such an impressive rate of growth, the global mass flow controller market is thus projected to reach a new higher valuation of US$1.3 bn by 2026. The research report also states that as per the product type, the global market is expected to be dominated by the Coriolis mass flow meter segment.
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Strict Environmental Guidelines Projected to Drive Europe Mass Flow Controller Market
The global mass flow controller market is divided into five key regions as per geographical segmentation. Those six key regions are North America, Europe, Latin America, Asia Pacific excluding Japan, Japan, and the Middle East and Africa. Of these the market is currently dominated by Europe. During the course of the given forecast period of 2017 to 2026, the Europe region is expected to exhibit an impressive CAGR of 8.6%. Such massive growth of the Europe market is because of the growing applications of the mass flow controllers and sensors across the booming automotive industry.
These sensors and controllers have been successfully proven to cut down the energy consumption of automobiles by around 3.0% and thus are becoming increasingly popular. The high demand from developed economies such as the UK, France, and Germany spurs the growth of the mass flow controller market across Europe. The development of Europe mass flow controller market is also supported by strict implementation of EU and respective governmental guidelines for the conservation of the environment.
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Increasing Demand for Healthcare Sector is Spurring North America Mass Flow Controller Market Growth
Apart from Europe, North America and Asia Pacific excluding Japan are showcasing a significant rate of growth during the given forecast period. The growth of the North America market is driven by an ever-increasing demand for mass flow controllers from the medical and healthcare sectors. Additionally, consistent technological advances are also helping in delivering innovative products, thus contributing towards overall development of the market. The region of Asia Pacific excluding Japan is projected to exhibit a massive CAGR of 9.6% during the given forecast period of 2017 to 2026. This rapid development of the market is because of the presence of emerging economies such as India and China that are spending heavily to upscale their domestic infrastructure including healthcare, automotive, and industrial among others.
Due to the heavy presence of several oil and gas companies in the Middle East and Africa, the mass flow controller market is expected to witness a stable growth in the coming years in this region. On the other hand, there has been an increasing demand for petroleum refining across Latin America. This demand coupled with rapidly developing chemical industries is expected to create a great impetus for the mass flow controller market in the region. The demand for innovative and more productive mass flow controllers and sensors is expected to rise in the region over the course of the forecast period.
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Some of the key companies in the global mass controller market include names such as Parker Hannifin Corporation, MKS Instruments, and Horiba Ltd among others.
The information presented in this review is based on a TMR report, titled "Mass Flow Controller Market (Product - Differential Pressure Flow Meter, Thermal Mass Flow Meter, and Coriolis Mass Flow Meter; Material - Differential Pressure Flow Meter Stainless Steel and Exotic Alloy; Flow Rate - Low Flow Rate, Medium Flow Rate, and High Flow Rate; Application - Chemicals, Oil and Gas, Pharmaceuticals, Metals and Mining, Semiconductor, Water and Wastewater Treatment, Pulp and Paper Processing, and Nuclear Power Facility) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026."
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The global mass flow controller market has been segmented as presented below:
- Differential Pressure Flow Meter
- Thermal Mass Flow Meter
- Coriolis Mass Flow Meter
- Differential Pressure Flow Meter Stainless Steel
- Exotic Alloy
- Low Flow Rate
- Medium Flow Rate
- High Flow Rate
- Oil and Gas
- Metals and Mining
- Water and Wastewater Treatment
- Pulp and Paper Processing
- Nuclear Power Facility
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific Excluding Japan (APEJ)
- Rest of APEJ
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America
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