Thriving Petrochemical Market Making China a Key Market for Flow Meters

San Francisco, California, August 29, 2017: A new report by TMR Research on the flow meters market states that up-gradation of the existing petroleum refineries is anticipated to drive the growth prospects of this market. It further adds that the advancements in waste water treatment plants will also create growth opportunities in the flow meters market. The report is titled, “Flow Meters Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.” Flow meters are expected to remain in high demand as an increasing number of industries of various kinds are making use of liquid and gaseous fluids. The developments of technology in this market will help create sophisticated flow meters and this will further boost the market. Improved process efficiency and control are some of the benefits of technologically advanced flow meters.

The report not only discusses the key factors boosting the growth of the flow meters market, but also those restraining factors that pose a challenge and threaten the demand for these devices. The instability of flow rates is one of the key challenges faced by the global flow meters market. However, the development of smart meters by market players, such as coriolis and ultrasonic flow meters will create a new hope and create growth opportunities for these players. These novel devices are replacing conventional ones such as differential pressure flow meters and positive displacement flow meters. This is anticipated to drive the growth of the flow meters market.

On the basis of geography, Asia Pacific is estimated to be a lucrative market for flow meters. The high demand from waste water treatment and petroleum refinery sectors are two main reasons behind the growth of the market in Asia Pacific. China is an important petroleum and petrochemical market and will drive the demand for flow meters. The rapid paced urbanization of Thailand, China, and India are also expected to be behind the growth of the Asia Pacific flow meters market.

On the basis of type of flow meter, rotameters are most commonly used as these are economical means of measuring flow rates in a fluid system. By end user, without any surprise, the waste water treatment and petroleum sector held the highest demand. The report profiles key players within the market such as Azbil Corporation, Siemens A.G. ABB Ltd., Badger Meter Inc., Yokogawa Electric Company, Emerson Electric Company, Honeywell International Inc., ENDRESS + HAUSER AG, and Invensys Plc.

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