ID: MRFR/SEM/3540-HCR | February 2021 | Region: Global | 100 pages
The mass flow controller market is expected to grow at 6% CAGR through the forecast period.. Mass Flows Controllers control the amount of fluid flowing from a pump, pipe, reservoir, or tank. They have electronic sensors that measure the mass flow and send an electrical signal to control a motor or other device to control the flow. Mass Flow Controllers are broadly divided into electromagnetic and hydraulic types.
The market is projected to grow at a significant rate during the forecast period owing to the increased use of these devices in industries such as oil and gas. The growth in the market will be driven by their applications in water and wastewater treatment, pharmaceuticals and medical treatments, food industry, marine engineering industries such as aquaculture farming etc.
The Mass Flow Controller market has been affected by the COVID pandemic as many operators have ended production as they were not able to stay competitive in the market due to the high cost of product development, high inventory management, and production losses. This has led to negative growth for this industry over the last decade.
It has allowed companies to cut costs and increase production by up to 40% through the use of smart software. COVID-19 has caused a notable decline in the global industry because of disruptions to the supply chain. The demand internationally has also been affected, leading to a decline in economies across the world. When it comes to production, the key factors involved include the limited availability of materials and the many disruptions along the supply chain. Production has been limited across industries as a result.
Technological developments have led to the growth of industrial and commercial sectors, as well as an increase in energy consumption. With such rapid increases in demand for energy efficiency and environmental protection, it has become crucial to reduce the carbon footprint of both industrial and commercial sectors. By adopting green technologies, companies can reduce their energy consumption and help preserve the environment.
Mass Flow Controllers are crucial to the success of any project. Whether you're building a house, manufacturing process, or building an aeroplane, these machines can help you manage critical tasks like water flow and airflow. Mass Flow Controllers are becoming more important in our lives as technology advances. AI-enabled Mass Flow Controllers could be the key to meeting the demands of new future industries where they will make sure that production is kept high and error-free.
The market for Mass Flow Controllers is expected to grow over the next few years with increased demand for high-quality equipment among manufacturers and developers alike. To analyse this market properly, you must understand its opportunities and challenges first.
A lack of innovation and adoption of new technology is one of the major factors contributing to the market slowdown. Moreover, many companies are still struggling with how to implement AI in their product design and implementation process.
The growing frequency of natural disasters such as floods, earthquakes, and cyclones affect the Mass Flow Controller Market too which currently accounts for a large portion of global industrial production.
The growing demand for mass flow controllers is creating a highly competitive marketplace with many players offering their products at prices that range from 20% to 80%. This has put pressure on pricing and profitability, which is why some companies have discontinued selling this product or have restricted their selling channels.
The Mass Flow Controller Market is one of the fastest-growing segments of the water treatment industry. This market has undergone significant changes since its initial emergences, such as increased demand and technological developments. However, it is not easy for companies to enter this market due to its complexity. Numerous technologies need to be tested before a company begins selling its product. Salespersons also need to be trained on how to market these products for them to succeed in the market. If this is not done, then the chances of failure increase considerably.
Cumulative Growth Analysis:
The Mass Flow Controllers market has been witnessing a significant increase in recent years. This is mainly due to the growing demand for products in different industrial sectors and due to the technological advancements in this industry. In the coming years, the market size is likely to grow at a high pace.
The global mass flow controllers market is estimated to be over $40 billion by 2024. This market has been growing steadily over the past couple of years due to several factors such as increasing consumer awareness, technological advancements, and increasing demand from various industries such as e-commerce and logistics.
Mass Flow Controllers (MFC) are essential components of industrial equipment, which are designed for the distribution of materials, fluids and gasses. MFCs are used in various end-user industries, such as chemical processing, oil and gas exploration and production, pharmaceuticals, power generation and thermal power plants.
Mass Flow Controller Market Segment Overview:
Mass Flow Controllers are used to controlling the flow of air, water, oil or other fluids in a system or network. They are also used to monitor high-pressure vessels and fluid flows in the process industry. The mass flow controllers are commonly used to regulate pressure, temperature, density and level of liquids. Power Generation industry dominates the global market share with over 50% contribution followed by Oil & Gas industry with 40%. It is estimated that the North American region will lead the global market.
EMFC has been a technology that has been in development for decades and is now finally ready for use. This technology works by harnessing the magnetic field around the motor to control how it moves. With this, designers can control the speed of the motor and thereby control how much energy it uses. This technology could revolutionize the industry as well as save consumers money on their bills. LPC is a liquid level control that eliminates the need for manual adjustment, making it ideal for industrial and commercial applications.
Mass Flow Controller Market Regional Analysis:
The global Mass Flow Controller market is segmented according to regions. By region, the market can be divided into North America and Europe and Asia-Pacific. The market has been witnessing a high growth rate since the mid-2000s.
They are also used to control the temperature in heating and cooling systems, such as air conditioners and refrigerators. This article examines the important regions of Asia Pacific, Europe, North America and Latin America. It is estimated that these regions will account for more than 70% of the global Mass Flow Controllers market by 2022.
Competing companies in the Mass Flow Controller Market Include:
In the summer of 2019, MFC/MFM vendors began offering web server functionality to all their products. This should make it easier for other companies & individuals to communicate with them from the Burkert Communicator software tool.
Brooks Instrument launched new mass flow controllers in July 2019, the SLA5800 Series Biotech and the SLAMf series Biotech. These products are specifically designed for biotech applications.
The article has explained the mass flow controller market. The forecast of the market is up to the year 2028. Through sections of drivers, restraints, challenges and growth analysis, the market is detailed. The recent impact of the Covid-19 pandemic did affect the mass flow controller market but the addition of smart technology helped to lift up the manufacturing process.
Mass Flow Controller Market Segmentation:
Frequently Asked Questions (FAQ) :
The global market for Mass Flow Controller is expected to reach revenue generation of 2.2 billion by 2023.
The global market for Mass Flow Controller is expected witness substantial growth at a CAGR of 6% over the review period of
A few major players of the Mass Flow Controller market are HORIBA (Japan), Sensirion (Switzerland), Alicat Scientific (U.K), Sierra (U.S.), and MKS (U.S.), among others.
The growing demand for low flow rate mass flow controller for numerous critical applications in industries such as medicals and pharmaceuticals drives its overall market.
Asia Pacific (APAC) is estimated to hold the largest share of the mass flow controller market over the forecast period.