Global coriolis flowmeter market: 12% CAGR between 2012-2016

Press Release   •   Feb 26, 2013 10:49 GMT

The Global Coriolis Flowmeter market is to grow at a CAGR of 12.05 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for coriolis flowmeters across process industries. The Global Coriolis Flowmeter market has also been witnessing the development of industry-specific Coriolis flowmeters. However, lack of effective product differentiation could pose a challenge to the growth of this market.

Organizations across industries are demanding technological advanced Coriolis flowmeters that are easy to use and require less maintenance. Hence, several manufacturers of Coriolis flowmeters have begun to strive to add more functionality to their Coriolis flowmeters. For instance, some manufacturers have developed Coriolis flowmeters that have features such as remote diagnostics. These additional features encourage organizations across various industries such as Chemical, Petrochemical, Food and Beverage, and Oil and Gas, to opt for Coriolis flowmeters rather than other flowmeters such as ultrasonic flowmeters and magnetic flowmeters.

The need to enhance organizational efficiency is one of the major drivers in the Global Coriolis Flowmeter market. It is important for organizations to enhance their organizational productivity, for ensuring continuous growth in the highly competitive business environment. The improvement in operational efficiency is ensured by effective deployment of technologically advanced Coriolis flowmeters, as they ensure flow measurement. Additionally, various advantages such as increase in accuracy and reliability when compared to other flowmeters, reduction in wear and tear, and cost reduction are the various factors increasing its usage by organizations, thus driving growth of the Global Coriolis Flowmeter market during the forecast period.

The key vendors dominating this market space are Siemens AG, GE Co., and Emerson Electric Co. The other vendors mentioned in the report are Invensys plc, Krohne Group, Yokogawa Electric Corp. Inc., ABB Ltd., Endress+Hauser, Brabender Technologie GmbH & Co. KG, and Malema Engineering Corp.

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