Market Research Report
Mass Flow Controllers
|Mass Flow Controllers|
Published: February 1, 2022
Global Industry Analysts, Inc.
Content info: 564 Pages
Delivery time: 1-2 business days
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Global Mass Flow Controllers Market to Reach $1 Billion by 2026
Mass flow controller is a mechanical device intended to automatically control the flow rate of liquids and gases as per a set flow rate transmitted as an electric signal, without being affected by changes in application conditions such as pressure and temperature. Growth in the global market is set to be fueled by rising adoption in end-use industries. Expected rise in adoption of micro flow controller devices in space applications, increasing focus on micro-technology and in measuring very low flow rates in various areas including science and engineering are likely to augment the demand. In addition to witnessing growing penetration in the renewable energy sector, these devices are expected to gain from increasing awareness about benefits of mass flow controllers in various semiconductor applications. The market is also slated to benefit from growing incorporation of these controllers in various medical devices like inhalers, oxygen concentrators and insufflators. Other prominent factors likely to drive the market growth include anticipated increase in vehicle demand along with rise in investments in water and wastewater treatment and continuous emission monitoring systems.
Amid the COVID-19 crisis, the global market for Mass Flow Controllers estimated at US$804.3 Million in the year 2020, is projected to reach a revised size of US$1 Billion by 2026, growing at a CAGR of 4.3% over the analysis period. Coriolis Mass Flow Meter, one of the segments analyzed in the report, is projected to record a 4.3% CAGR and reach US$594.6 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Differential Pressure Flow Meter segment is readjusted to a revised 4.6% CAGR for the next 7-year period. Coriolis flowmeters provide several advantages compared to the traditional flowmeters in terms of include reliability, accuracy, repeatability, and resistance of moving parts to pressure drops and wear. Differential pressure flow meters rely on an obstruction like a disc with a small orifice placed in laminar flow region to measure fluid pressure. They are suitable for applications with consistent fluid viscosity and stable temperature.
The U.S. Market is Estimated at $110 Million in 2021, While China is Forecast to Reach $244.8 Million by 2026
The Mass Flow Controllers market in the U.S. is estimated at US$110 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$244.8 Million by the year 2026 trailing a CAGR of 5.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 3.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR. China and Asia-Pacific constitute the major market for mass flow controllers, due to widespread industrial activity and governmental emphasis on industrial growth. The market growth is likely to be further augmented by rising adoption in the automotive industry to reduce energy usage of vehicles. The regional market is also poised to gain from expansion of the semiconductor and pharmaceutical industries along with projects such as the National Mission for Clean Ganga in India. The US is predicted to post strong growth due to technological advancements and increasing applications across the medical and healthcare industries.
Thermal Mass Flow Meter Segment to Reach $161.9 Million by 2026
Thermal mass flow meters represent advanced devices intended to measure gas mass flow rate on the basis of convective heat transfer between a heated surface and flowing liquid. They are extensively employed in a broad range of industrial applications to control and monitor mass-based processes including chemical reactions depending on relative mass of unreacted ingredients like material balance determinations, recipe formulations and billing or custody transfer. In the global Thermal Mass Flow Meter segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$90.6 Million in the year 2020 will reach a projected size of US$116 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$35.3 Million by the year 2026, while Latin America will expand at a 4% CAGR through the analysis period.
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