Coriolis Meters Sales Expected to Attain USD 4.9 Billion by 2033 at an 8.5% CAGR: Fact.MR Analysis
A key factor driving the sales of Coriolis meters is their increasing utilization in water & wastewater and oil & gas industries
Rockville, March 06, 2023 (GLOBE NEWSWIRE) — As per the latest estimates by Fact.MR, a market research and competitive intelligence provider, global sales of Coriolis meters are forecasted to increase at a CAGR of 8.5% to reach a market valuation of US$ 4.9 billion by the end of 2033.
Given their great precision and dependability, Coriolis flow meters have become a popular choice for flow measurement technology. Coriolis meters work on the principle of inertia created when a liquid or gas flows through an oscillating tube. This inertia causes the pipe to rotate in line with the mass flow rate. These meters track the mass flow of substances including acids, gases, water, chemicals, etc.
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Despite its use in a few gas flow measurement applications, Coriolis meters are widely used to measure the bulk flow rate of liquid. Coriolis meters are often used to measure high-value products to accurately measure flow. They measure mass flow, therefore changes in fluid density have no impact on the measurement. These meters are also widely used in industries such as oil & gas, chemicals & petrochemicals, and food & beverages. Technological advancements and the introduction of the Internet of Things (IoT) are also driving the sales of Coriolis meters.
The mechanics of motion is the foundation of coriolis metres. A Coriolis flow metre is used to track and quantify the flow of steam, liquid, and high-pressure gas in a piping system. Coriolis flow metres are extensively used in heavy-duty industrial applications, while other flow metre technology types can be used in uses that aren’t often thought of as “industrial”.
Scientific settings and applications requiring extremely high accuracy both use coriolis flow metres. Using the Coriolis effect measuring principle, a Coriolis flow metre can detect the flow rate of the fluid moving through it. It is possible to make sure a process is running properly by understanding its flow rate. These can be referred to as Coriolis mass flow metres based on how the measuring principle is applied.
Key Takeaways from Market Study
- The global Coriolis meters market stands at US$ 2.2 billion in 2023.
- Demand for Coriolis meters in China is predicted to expand at a CAGR of 11.5% through 2033.
- Sales of gas flow meters are expected to increase at a CAGR of 9.5% over the next 10 years.
- Worldwide demand for liquid flow meters is set to rise at a CAGR of 8% from 2023 to 2033.
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Competitive Landscape
Leading companies in the Coriolis meters market are adopting several marketing strategies such as acquisitions, mergers, local supply, innovations, and the introduction of advanced meters such as intelligent flow meters.
- In September 2022, Yokogawa Electric Corporation introduced the OpreXTM Magnetic Flowmeter CA Series. As a new product line within the OpreX Field Instruments family, it replaced the ADMAG CA Series. This new innovative product line includes capacitance-type magnetic flow meters, which can monitor the flow of conductive fluids via a measurement tube without touching the device’s electrodes. Along with the non-wetted electrode architecture, this series features innovative functionalities that improve user-friendliness, ease of maintenance, and operational efficiency.
Key Companies Profiled
- Honeywell International, Inc.
- ABB Ltd.
- Schneider Electric SE
- Emerson Electric Company
- Omega Engineering, Inc.
- Illinois Tool Works, Inc.
- Badger Meter, Inc.
- Kobold Instruments, Inc.
- Kobold Messring GmbH
- Endress+Hauser AG
- KROHNE Messtechnik GmbH
- Bronkhorst High-Tech B.V.
- Brooks Instrument
- PendoTECH
- iCenta Controls Ltd
Recent Market Development
- Sensirion added the SFC5500 to its line of mass flow controllers, in June 2022. The high-performance mass flow meters and controllers have many gas calibrations. Push-in fitting is a feature that can be easily replaced by the user from a list of appropriate components. Each device can accommodate different flow ranges found in conventional devices. The SFC5500 is a versatile device that can manage various applications.
Key Segments of Coriolis Meters Industry Research
- By Fluid Type:
- Liquids
- Gases
- By Application:
- Oils & Gases
- Chemicals & Petrochemicals
- Food & Beverages
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Coriolis meters market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study divulges essential insights into the market based on fluid type (liquids, gases) and application (oils & gases, chemicals & petrochemicals, food & beverages), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Coriolis Meters Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will sales in the global Coriolis Meters Market grow until 2033?
- Which are the factors hampering the Coriolis Meters market?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Coriolis Meters Market during the forecast period?
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