North America Mass Flow Controller Market size surpassed USD 150 million in 2020 and is expected to witness over 5% growth from 2021 to 2027. The market growth is due to rising adoption of renewable sources for power generation such as solar and wind energy. These devices are used to efficiently manage the supply of gases and liquid chemical compounds during the production of photovoltaic solar cells.
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Many electric and gas utilities announced investment plans to accelerate the production of green hydrogen for use as a source in power generation as a part of their decarbonization strategy, providing momentum to these projects in the U.S. For instance, in July 2020, NextEra Energy, a renewable generator company based in the U.S., announced an investment of USD 65 million to build a green hydrogen plant for generating power and light in Florida. With this facility, the company will use 20 MW electrolyzer for the generation of green hydrogen from solar power.
The stainless-steel material type in the North America mass flow controller market is set to register 5% growth rate during the forecast timeline, attributed to the rising demand for continuous processing applications in the pharmaceutical sector in the US. For bioprocessing systems to manage the flow of diverse gases into bioreactor chambers, stainless steel offers high pressure, temperature, minimal maintenance, corrosion, and chemical resistant properties. In May 2020, Festo launched the VEMD flow control valve equipped with piezo technology, which is eminently ideal for healthcare & pharmaceutical and other industrial applications.
Canada mass flow controller market will hold around 15% revenue share and is poised to expand at a CAGR of 3% through 2027. This growth can be credited to the growing number of funding activities and infrastructure development initiatives for the oil & gas industry by the government to strengthen the country’s economy. For instance, in 2021, Alberta, a Canadian province, invested USD 1.5 billion to start the construction project of Keystone XL pipeline expanding the market access. The employment of mass flow controllers in the oil & gas sector is fueled by processes such as production, distribution, treatment, and processing of hydrocarbon fluids, gases, and generated compounds.
Key players that are dominating the North America mass flow controller market share are Aalborg, Teledyne Hastings Instruments, OMEGA Engineering Inc, Dwyer Instruments, Inc, Alicat Scientific, among others.
These companies are focusing on developing and innovating technically advanced products to maintain their position in the market. For instance, in January 2020, Sierra Instruments introduced a new portfolio of MEMS thermal mass flow controllers & meters including RedySmart, RedyCompact, and thermal SmartTrak series.