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Flow meters market looking to Asia-Pacific for growth
Companiesandmarkets.comJun 27, 2012 15:48 BST
The global flow meters market is expected to reach US $5.1 billion by the year 2017, primarily driven by the re-investment of manufacturing majors in plant renovation, modernisation, capacity expansions, technology developments, and entry of new players into the market.
Additionally, rising opportunities from emerging countries in the Asia-Pacific region is also expected to bode well for the future growth prospects of the marketplace.
Flow meters market continues its transition from the traditional to new high-technology meters. Driven by precision and reliability, new flow meters, especially ultrasonic and coriolis, are becoming extremely popular among the end-users.
Europe remains the largest region within the flow meters market, by value. Asia-Pacific is the fastest growing regional market, both in terms of value and volume sales. Value sales in Asia-Pacific are projected to grow at a CAGR of 5.45% over the analysis period.
Asia-Pacific, where the number of capital projects and new process plants are increasing by the day, is expected to drive future gains in the international market. The Middle East, a hub of oil and gas activities, will also generate substantial demand for flow meters during the short to medium term period. Focus on water desalination will especially generate demand for flow meters in the region.
For more information on the flow meters market, see the latest research: Flow Meters Market Report
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