The Coriolis Meters market size is projected to be worth USD 2,232.56 million by 2030, registering a CAGR of 10.54% during the forecast period (2022–2030).
Coriolis meters are designed to use the inertia produced by the flow of a liquid or gas through an oscillating tube, that causing the tube to twist in line with the mass flow rate, which given the high accuracy and reliability offered, Coriolis flowmeters are emerging as a chosen flow measurement technology. These meters measure the mass flow of fluids, such as acids, water, chemical, caustic, and gases.
Coriolis meters are majorly used to measure the mass flow rate of liquids, even though they have also been used in some gas-flow measurement applications. These meters are used to measure the flow with such high accuracy, so they are widely used to measure high value products. As they measure mass flow, the measurement is not affected by fluid density changes. This meter finds their application in oil & gas, chemicals and petrochemicals, food and beverage sector. Increasing use in oil & gas and water & wastewater industries is one of the major drivers of the market. However, raw material price fluctuations restraint on rinse-off products, and the ongoing COVID-19 pandemic affect market growth.
The instantaneous spread of COVID-19 has caused considerable disturbance to a wide range of industries across the globe. Some of the major Coriolis Meters end-users who were enormously hit by the pandemic include the oil & gas, food & beverages and others.
The Coriolis Meters Market Report explains that the COVID-19 outbreak has gradually affected the flowmeter market's value chain. The industries like oil and gas, pulp and paper, chemicals, metals, and mining, and food and beverages have faced decreasing demands over their products because of the global slowdown and declining purchasing power of the customers for a short period.
The pandemic, which began in 2020, has highly impacted the market due to the major capacity increases and sluggish demand growth. The effect of the novel coronavirus on Coriolis meters demand was uneven throughout value chains, with sharp drops in Coriolis applications and high demand for medical applications.
Coriolis Meters are gaining traction in the oil & gas and water & wastewater industry. The Coriolis meters market is estimated to be partly driven by a turnaround in these key industries and their rising need for high-performance Intelligent flow meters. Oil & gas and water & wastewater industries are the major end-use industries of Coriolis meters that are driving the global market.
Coriolis Meters are made of metal, alloys and polymers and among other components. The fluctuating prices of these raw materials makes challenging for OEMs to get high-quality raw materials and manage delivery schedules obligatory by suppliers, which also increases the cost of flow meters.
Manufacturing facilities are concentrating on automation to reduce unnecessary wastage, lead times, and unplanned downtime. Growing industrialization, improving living standards of people across the globe, and huge population base in Asia Pacific region have motivated companies to establish their facilities in this region.
The Asia-Pacific Market is predicted to hold the most considerable share, by value, and the growth in the Asian region can be primarily due to the collaboration of key players, high demand end-use industries, expansion of production capacity. The Asia-Pacific market provides considerable opportunities for growth to the manufacturers and is foreseen to record the highest CAGR. Moreover, many global companies are constructing new facilities and preparing to expand, followed by technological advancements in the European region, which is expected to have a substantial market in the region. The growth in the North America Coriolis meter market is mainly attributed to the key players in the US and Canada, which has significantly contributed to the growth of Coriolis Meter market in the region.
The global market is expected to showcase healthy growth throughout the forecast period. The global market represents strong numbers in terms of consumption and is expected to grow year on year. The global industry is highly fragmented, with a majority presence of tier-1 players.
Some of the key players operating in the global Coriolis Meters industry are Ge Measurements and Control, Honeywell, Brooks Instruments, Yokogawa Electric Corp, Siemens A.G., Emerson, ABB Limited, Tricor Coriolis Technology, and Foxboro.
| Report Attribute/Metric | Details |
| Market Size | 2030: USD 2,232.56 Million |
| CAGR | 10.54% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) & Volume (Million Tons) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, and Fluid Type |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa |
| Key Vendors | Honeywell, Brooks Instruments, Yokogawa Electric Corp, Siemens A.G., Emerson, ABB Limited, Tricor Coriolis Technology, and Foxboro |
| Key Market Opportunities | Increasing Capacity Expansion in High Growth Markets |
| Key Market Drivers | Increasing Use in Oil & Gas And Water & Wastewater Industries |
Frequently Asked Questions (FAQ) :
Expected CAGR of the industry during forecast period is 10.54%.
USD 2,232.56 Million will be valuation of Coriolis Meters Market till 2030.
Top key players in the market are Honeywell, Brooks Instruments, Yokogawa Electric Corp, Siemens A.G., Emerson, ABB Limited, Tricor Coriolis Technology, and Foxboro, and others.
2022 to 2030 is the forecast period of the market.
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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