The Global Flow Sensors Market
is expected to reach USD 7.48 billion by 2020, according to a new study by
Grand View Research, Inc. Increasing quest for new energy sources along with
renewable energy development is expected to drive the flow sensors market over
the forecast period. Regulations governing the industry have been favorable in
stimulating market growth for different types of sensors. For example,
standards laid by the EPA for power plants have increased the demand for gas
flow sensors which are effective in monitoring gas leakage. Various initiatives
are taken into consideration for energy conservation and efficiency over the
years worldwide. For instance, Omron Corporation offers high performance MEMS
flow sensors to optimize air conditioning energy efficiency.
Further, the industry
has witnessed high demand from numerous end-use industries. For example, in the
automotive sector, active and passive safety sensors have witness tremendous
growth due to the growing need for accident mitigation systems. Emission of
hazardous gases has led to the framing of legislations for emission control and
resulted in the need for monitoring the concentration of exhaust gases.
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Research :
Further key findings from the study suggest:
·
The flow sensors market is expected to
witness considerable growth over the forecast period. The need for new energy
sources, including oil and gas exploration, and the growing significance of developing
of renewable energy sources are expected to be key market drivers.
·
The process industries segment is poised
for significant growth over the next few years, and accounted for over 25% of
the overall market in 2013. Growing number projects and the establishment of
new process plants along with reinvestments in plant modernization, renovation
and capacity expansion are expected to fuel the market demand.
·
North America emerged as the dominant
regional market in 2013 accounting for more than 30% of the overall market in
the same year. Surging demand owing to rebound in automotive and machinery
production along with regulatory mandates are expected to spur the regional
market growth over the next six years.
·
Key industry players include Emerson
Electric Company, First Sensor AG, Gems Sensors & Controls, Keyence
Corporation, Omron Corporation etc. Manufacturers focus on investing in R&D
activities as accuracy and reliability are major product selection criteria.
Further, industry participants emphasize on product differentiation in order to
avoid price competition.
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Research: http://www.grandviewresearch.com/industry/sensors-and-controls
For the purpose of this
study, Grand View Research has segmented the global flow sensors market on the
basis of application and region:
Flow Sensors Application Outlook (Revenue, USD Million,
2012 - 2020)
·
Automotive
·
Consumer electronics
·
Environmental
·
Healthcare/Medical
·
Process industries
·
Others
Flow Sensors Regional Outlook (Revenue, USD Million, 2012
- 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
View Press Release Of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-flow-sensors-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: http://www.grandviewresearch.com/
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: http://www.grandviewresearch.com/
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