PUBLISHER: SkyQuest | PRODUCT CODE: 1127114
PUBLISHER: SkyQuest | PRODUCT CODE: 1127114
The Global Mass Flow Controller Market was valued at USD 1.25 Billion in 2021, and it is expected to reach a value of USD 1.54 Billion by 2028, at a CAGR of 3.10% over the forecast period (2022 - 2028).
The Global Mass Flow Controller Market is booming due to rising demand in the semiconductor industry. Furthermore, rising demand for mass flow controllers in renewable energy applications is driving the Mass Flow Controller Market forward. Technological advancements fueled an increase in demand for intelligent smart flow meters, propelling the Mass Flow Controller Market forward. Mass flow controllers are essential in the quality control of a wide range of medical devices, and several key industry players have jumped at the opportunity to use them to combat the deadly coronavirus pandemic.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Mass Flow Controller Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
The Global Mass Flow Controller Market is segmented based on Type, Material Type, Media, Flow rate, Application, and Region. Based on Type it is categorized into Direct, Indirect. Based on Material Type it is categorized into Stainless Steel, Exotic Alloy, and Others. Based on Media it is categorized into Gas, Liquid, and Others. Based on Flow rate it is categorized into Low Flow Rate, Medium Flow Rate, and High Flow Rate. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Over the forecast period, the pharmaceutical industry is expected to grow at the fastest rate. Low flow rate mass flow controllers are critical in the pharmaceutical industry for measuring and controlling various media (gas and liquid). The use of mass flow controllers in pharmaceuticals, medical, and healthcare products to improve safety and accuracy will drive the mass flow controller market forward.
Magnetic flow meters and Coriolis may have high initial costs, limiting market revenue. This, combined with a scarcity of skilled technicians, has the potential to stymie overall Mass Flow Controller Market growth.
The use of appropriate materials to manufacture this device is a key trend observed in the Mass Flow Controller Market. In the pharma sector, for example, there is a growing trend in the Mass Flow Controller Market to use stainless steel mass flow control products. Stainless steel is an appealing raw material for use in MFC in the pharmaceutical industry due to properties such as resistance to high temperatures and pressure.