PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421598
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421598
The global mass flow controller market size is expected to reach USD 2.49 billion by 2032, according to a new study by Polaris Market Research. The report "Mass Flow Controller Market Share, Size, Trends, Industry Analysis Report, By Flow Rate (High, Medium, Low); By Technology; By Media Type; By Material, By End-use; By Application; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
A mass flow controller is a closed-loop apparatus employed for regulating and gauging the flow of both liquids and gases. This device is meticulously tailored and calibrated to oversee specific types of liquids and gases, finding application in industries such as oil and gas, semiconductor, and metal and mining.
One prominent trend in the mass flow controller market is the increasing adoption of these controllers in the semiconductor sector, where they are used to measure the flow of gases and liquids critical to semiconductor chip manufacturing.
Another noteworthy application of mass flow controllers is in fuel cells, where they enhance control over the density, flow, and pressure of humidified hydrogen and air.
The integration of Industrial Internet of Things (IIoT) and Industry 4.0 technologies into MFC devices is significantly driving market growth. These devices can be seamlessly connected to centralized control systems, providing remote configuration, real-time monitoring, gas flow optimization, and predictive maintenance capabilities to operators.
Many market players are concentrating on research and development initiatives as well as forming strategic collaborations and partnerships to develop innovative MFC devices, thereby gaining a competitive edge over their counterparts.
The global MFC market experienced diverse effects as a result of the COVID-19 pandemic. In the early stages of the global crisis, the industry faced significant challenges due to lockdown measures in various economies, leading to substantial disruptions in supply chain operations across multiple end-use sectors. These disruptions resulted in reduced product sales during the first half of 2020. However, there has been a recent and swift increase in research and development efforts, particularly in the development of new drugs, along with substantial investments in healthcare. These trends are expected to persist in the coming years.
Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of coronary artery disease (CAD) on global health. CAD alone is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. With the incidence of CAD rising, there is a growing demand for effective Mass Flow Controller devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for Mass Flow Controllers throughout the forecast period.
Polaris Market Research has segmented the Mass Flow Controller market report based on flow rate, technology, media type, material, end-use, application and region: