The global mass flow controller market is foretold to receive significant growth prospects birthing on the back of the escalating demand in the semiconductor industry riding on advancements in technology and innovation. Massive investments in the water and wastewater treatment industry and swelling usage of mass flow controller in the regular and continuous level measurement for wastewater lift stations and coagulant feed tanks could further increase the demand in the market. The snowballing demand for continuous emission monitoring system (CEM) is anticipated to positively influence market growth.
The global mass flow controller market is envisaged to grow at an 8.8% CAGR between 2017 and 2026. By the end of 2026, the market could collect a revenue of US$1.3 bn after progressing from a US$0.6 bn bagged in 2017.
The world mass flow controller market could be segmented as per five categories, viz. region, application, flow rate, material, and product. On the basis of a segmentation by product, the market could see a classification into three segments, i.e. coriolis mass flow meter, thermal mass flow meter, and differential pressure flow meter. Amongst these, since coriolis mass flow meter is a multivariable device by design, it could secure a major share in the coming years. Its growth could be attributed to its capability of indirectly measuring the temperature of containment tube and also liquid density and directly measuring the mass of the flowing gases, liquids, and fluids. By flow rate, the market could be segregated into high flow rate, medium flow rate, and low flow rate.
With regard to application, the world mass flow controller market is expected to be divided into nuclear power facility, pulp and paper processing, water and wastewater treatment, semiconductor, metals and mining, pharmaceuticals, oil and gas, and chemicals. Out of these applications, chemicals could exhibit a higher market growth in the near future. By type of material, there could be important segments such as exotic alloy and differential pressure flow meter stainless steel taking shape in the market. The properties of exotic alloy dealing with high corrosion capacity, high pressure, and critical temperature in different media could augment the growth of the segment in the near future.
The international mass flow controller market is foreseen to witness the lead expected to be secured by Europe on the back of tight government regulations associated with environmental conditions. Different types of mass flow controller are engaged for air pollution analyzer calibrators, which could gain a swelling importance owing to significant policies penned down to reduce the pollution.
The application of mass flow controller and sensor in the lucrative automotive industry for curbing energy consumption of vehicles by close to a 3.0% could support market growth in Europe. Germany, France, and the U.K. could mainly encourage the demand for mass flow controller in the region prophesied to expand at an 8.6% CAGR.
The adoption of mass flow controller in North America is predicted to attain a substantial increase because of aggressive technological development and growing applications in the healthcare and medical industries. Asia Pacific Excluding Japan (APEJ) could be a faster-growing region of the market projected to rise at a CAGR of 9.6%. The major presence of oil and gas industries in the Middle East and Africa (MEA) is forecast to help the region to showcase a stable growth. The intensifying demand in the petroleum refining and chemical industries could aid South America to attract growth with the initiation of product improvements and the development of new products.
The worldwide mass flow controller market includes popular industry names such as Parker Hannifin Corporation, MKS Instruments, and Horiba Ltd.
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