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APAC Mass Flow Controller Market size to cross $1 Bn by 2027
Published Date: 2021-08-10
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APAC Mass Flow Controller Market size is poised to reach USD 1 billion by 2027, according to a latest forecast report by Graphical Research.
The Asia Pacific market growth is driven by rising government programs that support smart manufacturing in industries across developed and developing nations. For instance, according to the International Trade Administration, in January 2021, Singapore collaborated with the World Economic Forum to globally launch the Singapore-developed Smart Industry Readiness Index and attracted an investment of USD 300 million in FY2020 for advanced manufacturing projects.
The government intends to use this financing to assist local firms in integrating smart & automated technology into their manufacturing facilities to strengthen the country's economy. These smart factories require various industrial instruments including valves, fittings, pipelines, and automation equipment, all of which require mass flow controllers for process control. Such initiatives will boost the market growth.
Differential pressure flow meters segment is expected to grow at a CAGR of 7% during the forecast period. Growth is driven by the rising adoption of differential pressure flow meters in the oil & gas sector for high-pressure, high-temperature, or large diameter pipelines. These flow meters allow the end-user to measure and monitor the flow volume of gases, liquids & steams.
Browse detailed statistical insights from the report, “Asia Pacific Mass Flow Controller Market Forecast 2027 By Connectivity Technology (Analog, Profibus, RS-485, ProfiNet, EtherCAT, Ethernet/IP, Modbus RTU, DeviceNet, Foundation Fieldbus), By Material Type (Stainless Steel, Exotic Alloys), By Flow Rate (Low Flow Rate, Medium Flow Rate, High Flow Rate), By Product Type (Differential Pressure Flow Meter, Thermal Mass Flow Meter, Coriolis Mass Flow Meter), By Industry Vertical (Oil & Gas, Pharmaceutical, Food & Beverages, Chemical, Healthcare & Life Science, Semiconductor, Water & Wastewater Treatment), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” along with the table of contents (ToC) @
The companies operating in the mass flow controller idustry are continuously engaged in innovations and product launch activities to hold the highest market share. For instance, in July 2021, Tek-Trol launched a new mass steam quality meter based on differential pressure cone meter technology. It offers real-time measurement of steam quality in homogenous flow. Furthermore, it has applications in the oil & gas sector as it can be used in downhole steam injection and wet gas applications.
South Korea is expected to grow at a CAGR of 6% during the projected timeline. Growth is attributed to the rising adoption of flow measurement instruments that measure volumetric or mass rates of liquid or gases in pharmaceutical applications. Governments are engaged in increasing investments and funding research & development activities in the pharma sector, thus driving market demand.
In April 2019, the South Korean government announced its plans to invest USD 2.6 billion in biotech-related research & development and commercialization to stimulate creative growth. In addition, due to increased government spending, pharmaceutical corporations such as Celltrion are investing billions of dollars to boost their biologicals footprint. For instance, in November 2020, Celltrion Inc., a South Korean-based pharmaceutical firm, announced that it will invest USD 452 million to build its third manufacturing plant in the country. The company aims to build an R&D center to deal with the rising demand for biopharma products.
The mass flow controller in APAC market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Material Type
- Stainless steel
- Exotic alloys
Asia Pacific Market, By Flow rate
- Low flow rate
- Medium flow rate
- High flow rate
Asia Pacific Market, By Product Type
- Differential pressure flow meter
- Thermal mass flow meter
- Coriolis mass flow meter
Asia Pacific Market, By Connectivity Technology
- Modbus RTU
- Foundation Fieldbus
Asia Pacific Market, By Industry Verticals
- Oil & gas
- Food & beverages
- Healthcare & life sciences
- Water & wastewater treatment
The above information has been provided for the following countries:
- Asia Pacific
- South Korea