A recent report published by Infinium Global Research on the mass flow controller market provides an in-depth analysis of segments and sub-segments in the global as well as regional mass flow controller market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional mass flow controller market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global mass flow controller market. According to the report, the global mass flow controller market is projected to grow at a CAGR of 4.5% over the forecast period of 2021-2027, growing from nearly USD 1.1 billion in 2021 to about USD 1.5 billion in 2027.
Mass flow controllers are used to regulating the flow rate of liquid and gases according to a set flow rate sent as an electric signal. The mass flow controllers have flow rate measurement components such as sensors, bypass, special circuitry, and flow rate control valve. High-quality metals and alloys are used as building materials for the mass flow controllers to make them resistant to rust, resistant to warp under high stresses, and last longer. Mass flow controllers have found their application across manufacturing plants of various industries such as oil & gas, food & beverages, chemicals, pharmaceuticals, water treatment, energy & power, and others.
The spread of COVID-19 has negatively affected the mass flow controller market over the short term. Many countries across the world implemented strict restrictions to control the pandemic. Several local and national governments executed lockdowns, restricting industries to reduce or even stop the businesses. This, in turn, reduced the demand for industrial machinery, and equipment such as mass flow controllers, which are required in the manufacturing plants. Moreover, the lockdown restrictions imposed by the governments led to disrupted supply chains. Several ports and warehouses were closed during the pandemic, which in turn, affected the transport and supply of raw materials and finished goods. Thus, countries dependent on the import of machinery, and equipment such as mass flow controllers faced shortages during the pandemic. This, in turn, hampered the growth of the mass flow controller market over the period of pandemic. However, as the markets opened up after the pandemic, the sale of mass flow controllers is coming back to the pre-pandemic state.
The growing adoption of automation in manufacturing plants is mainly driving the technological advancements in the mass flow controller market. Manufacturing plants across several industries have automated flow controllers for tasks such as opening and closing the valves to maintain the flow rate. This, in turn, boosts the growth of the mass flow controller market. Moreover, the growing drilling and extraction activities in the upstream section of the petroleum industry is expected to augment the demand for mass flow controller. The mass flow controllers play an important role in the oil and gas industry, such as regulating the parameters such as flow rate, pressure, temperature, and level of the fluid in a pipeline. However, the severe impact of COVID-19 on the end-use industries is likely to hinder market growth over a short period. The major end-use industries including oil & gas, energy & power, and wastewater treatment witnessed reduced demand during the pandemic, which in turn, declined the demand for mass flow controllers. Nevertheless, the growing trend of hyperbaric oxygen therapy (HBOT) is anticipated to boost the market in the future.
The Asia Pacific generated the highest revenue for the mass flow controller market among other regions in the world. Moreover, the Asia Pacific mass flow controller market is anticipated to grow at the fastest rate over the forecast period as compared to other regional markets. The growing oil and gas exploration activities and the growing demand for water treatment in countries, such as India, China, and Japan are majorly driving the growth of the Asia Pacific mass flow controller market. On the other hand, North America accounted for the second-largest share in the global mass flow controller market. The presence of big oil & gas extraction sites, and major chemical, and pharmaceutical manufacturing plants in the region are supporting the growth of the North America mass flow controller market.
The report on the global mass flow controller market covers segments such as product type, material type, flow rate, and end-user. On the basis of product type, the sub-markets include differential pressure flow meter, thermal mass flow meter, and coriolis mass flow meter. On the basis of material type, the sub-markets include stainless steel, exotic alloys, and others. On the basis of flow rate, the sub-markets include low flow rate, medium flow rate, and high flow rate. On the basis of end-user, the sub-markets include chemical, oil & gas, pharmaceuticals, food & beverages, and others.
The report provides profiles of the companies in the market such as Alicat Scientific Inc., Azbil Corporation, Bronkhorst High-Tech BV, Brooks Instrument, LLC, Christian Bürkert GmbH & Co. KG, Horiba, Ltd., MKS Instruments, Inc., OMEGA Engineering, Inc., Sensirion AG, and Sierra Instruments, Inc..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the mass flow controller market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.