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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

An intelligent or smart flow meter is an electronic instrument that is used to measure the volumetric flow of liquid in the pipes. Intelligent flow meters are also used to measure the velocity of a fluid with ultrasound or other techniques to calculate liquid flow accurately as compared to the other flow meters. The main feature of intelligent flow meters is that they are not affected by weather conditions and factors such as density, viscosity, and temperature, due to which they provide accurate measurement reading. These meters send ultrasonic beam or laser beam to the moving fluid, which gets reflected back from moving fluid and the movement of moving fluid is displaced on the screen. These types of flow meters are used in various industries such as oil & gas to detect the flow of fluid inside the pipe as well as maintain the speed of flowing liquid in pipes. These factors are expected to drive the market growth during the forecast period.

The global intelligent flow meter market is expected to witness significant growth during the forecast period (2020–2027). This is attributed to many features offered by intelligent flow meters such as stability, high-accuracy, and reliability. For instance, in June 2017, Honeywell International Inc., a U.S.-based multinational company, launched Q.Sonicmax, an ultrasonic flow meter that provides a high level of accuracy for custody transfer processes in industries. Intelligent flow meters are more accurate, smarter, and have a better diagnostic approach as compared to the traditional flow meters. Moreover, intelligent flow meters not only measure the flow rate of liquid in real-time but also provide feedback for the precise control of the flow rate of the liquid. This has resulted in demand for intelligent flow meters in the market. The increasing demand for intelligent flow meters from various industries is fulfilled by the installation of flow meters. To improve the accuracy of intelligent flow meters, various methods are taken into considerations such as the type of fluid to be measured, the kind of technologies that are used, and applications for which measurement is done. This helps in maintaining the stability of the flow of gas according to the velocity and offer reports in case accuracy & stability is not up to the mark. Thus, in turn, increases the demand for intelligent flow meters in the market.

Deteriorating oil prices is expected to hamper the intelligent flow meter market growth during the forecast period. Globally, oil prices have shown a declining trend since 2014. The implementation of various automation systems is a part of infrastructure projects such as the development of refineries, new pipeline construction, and exploration of hydrocarbons. Thus, a decline in capital investments by investors is affecting growth of the intelligent flow meters market. Countries such as Dubai, Kuwait, and Qatar have reduced the pricing of oil from new wells. This will negatively impact the adoption of intelligent flow meters in the oil & gas industry. These factors are expected to hamper the market growth during the forecast period.

Global Intelligent Flow Meter Market - Impact of Coronavirus (Covid-19) Pandemic

Due to Covid-19 pandemic, many industries witnessed significant shift in their business. There is significant negative impact on the intelligent flow meter market, as these intelligent flow meters are used in oil & gas industry to measure liquid flow in the pipes. Due to lockdown imposed by countries, the demand and price of crude oil has fallen. For instance, in March 2020, in the U.S., the price of crude oil decreased from US$ 61.06 to US$ 23.36. Moreover, every country has banned international and domestic travel. Due to this, there is huge drop in the consumption of aviation turbine fuel (ATF) across the globe. All these activities have huge impact on the intelligent flow meter market and there is huge drop in the demand for intelligent flow meter in the market.

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Intelligent Flow Meter Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 2.6 Bn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 5.1% 2027 Value Projection: US$ 9.3 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Type: Magnetic, Coriolis, Ultrasonic, Vortex, Multiphase, Thermal, Turbine, Variable Area and Differential Pressure
  • By End-use Industries: Chemicals, Power generation, Food and beverages, Metals & mining, Oil & gas, Paper & pulp, Pharmaceuticals, Water & Wastewater, and Others
Companies covered:

ABB, Emerson Electric Co., Siemens, Honeywell International Inc., Yokogawa Electric Corporation, Azbil Corporation, BrooksInstrument, Sierra Instruments, Inc., KROHNE Messtechnik GmbH, General Electric, RIELS INSTRUMENTS S.r.l., KOBOLD Messring GmbH, DISTRIBUIDORA INTERNACIONAL CARMEN, S.A.U, Baker Hughes, and Fuji Electric Co., Ltd.

Growth Drivers:
  • High accuracy, stability, and reliability offered by intelligent flow meters
  • Increasing emphasis on real-time data analysis and enhanced visibility
Restraints & Challenges:
  • Deteriorating oil prices
  • High cost of intelligent flow meters

Asia Pacific held dominant position in the global intelligent flow meter market during the forecast period

Statistics:

Asia Pacific held dominant position in the global intelligent flow meter market in 2019, accounting for 41.7% share in terms of value, followed by North America and Europe.

Figure 1: Global Intelligent Flow Meter Market Share (%), By Region, 2019

Intelligent Flow Meter  | Coherent Market Insights

Asia Pacific is expected to account for the largest market share during the forecast period, owing to rapid development and increasing demand for intelligent flow meters from the oil & gas industry. The increasing demand for efficient and accurate measurement devices, increasing industrial infrastructure activities, and rising demand for intelligent flow meters from chemical and wastewater industries is driving the market growth. For instance, in April 2020, Fuji Electric Co., Ltd., a Japanese electrical equipment company, launched ultrasonic flow meters with high sensitivity and it can measure accurate flow rate without pressure loss.

North America region is expected to exhibit highest growth during the forecast period, owing to the presence of major players such as Emerson Electric Co., Azbil Corporation,

and Baker Hughes. For instance, in March 2020, Emerson, a U.S.-based multinational company who manufactures products and offer services to industrial and commercial markets, launched Daniel T-200, a titanium-housed transducer for its gas ultrasonic flow meter product line. This product takes into account metal 3D printing to upgrade the performance of ultrasonic flow meters that are used in the oil & gas industry.

Oil & gas segment is expected to drive the market growth during the forecast period

Among end-use industries, the oil & gas segment is expected to hold dominant position in the global intelligent flow meter market during the forecast period. This is attributed to the rapid growth of the industry. The development of shale gas reserves is also propelling the demand for intelligent flow meter in the oil & gas industry. Intelligent flow meters are an effective solution to measure the flow rate of upstream and downstream processes, liquid hydrocarbons, and custody transfer within the oil & gas industries.

Figure 2: Global Intelligent Flow Meter Market Value (US$ Bn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2027

Intelligent Flow Meter  | Coherent Market Insights

The global intelligent flow meter market was valued at US$ 2.6 Bn in 2019 and is expected to reach US$ 9.3 Bn by 2027 at a CAGR of 5.1% between 2020 and 2027.

Major players operating in the global intelligent flow meter market include ABB, Emerson Electric Co., Siemens, Honeywell International Inc., Yokogawa Electric Corporation, Azbil Corporation, BrooksInstrument, Sierra Instruments, Inc., KROHNE Messtechnik GmbH, General Electric, RIELS INSTRUMENTS S.r.l., KOBOLD Messring GmbH, DISTRIBUIDORA INTERNACIONAL CARMEN, S.A.U, Baker Hughes, and Fuji Electric Co., Ltd.

Intelligent flow meter is an electronic device that is used to measure linear and non-linear volumetric flow of the liquid. Intelligent flow meters are used in many industries such as food & beverages, oil & gas, chemical, and pharmaceuticals. The demand for intelligent flow meters is increasing, as they are more reliable, accurate, and stable for calibration. The adoption of flow measurement technologies in various industries such as petroleum, chemical, oil & gas, and wastewater has increased the demand for intelligent flow meters in the market. The demand for flow rate measurement in the oil & gas industry is increasing, owing to the detection of shale gas reserves in North America, Europe, and Asia Pacific regions. Furthermore, custody transfer in the oil & gas industry is one of the major applications that create lucrative opportunities for intelligent flow meters.

Market Dynamics

The global intelligent flow meter market is expected to grow significantly during the forecast period, owing to the increasing adoption of internet of things (IoT) based sensors for smart flow meter solutions. Advancement in technologies such as digital readouts, advanced sensors, wireless monitoring, and control are also driving the market growth. The advanced IoT enables automatic readings, collects data automatically, and remotely. Technological advancements in products, increasing urbanization, growing population, and rising disposable income are some of the factors that are expected to propel the market growth during the forecast period. However, calibration of intelligent flow meters is a time-consuming process that is expected to hinder the market growth in the near future.

Increasing demand for intelligent flow meters from many industries such as oil & gas, chemical, and water & wastewater is expected to drive the market growth during the forecast period. These flow meters are used in these industries to measure the flow of liquid or gas on a real-time basis. The demand for intelligent flow meters is increasing in the oil & gas industry in order to calibrate fluid precisely and accurately. For instance, in March 2018, ABB, a Switzerland-based automation company, announced a collaboration with Arundo Analytics, a U.S.-based software company. Through this collaboration, ABB and Arundo Analytics created a cloud-based virtual flow meter for the offshore oil & gas industry.  Demand for continuous and accurate flow measurement is fulfilled by installing intelligent flow meters in various industries. Furthermore, increasing disposable income and rapid urbanization across emerging economies in Asia Pacific drive the need for power generation, adequate water, and wastewater management. For instance, in China, according to the National Bureau of Statistics (NBS), rural and urban per capita, disposable income reached US$ 5,658.45 from US$ 2,107.2 in 2018.

Moreover, several global players across different regions are focusing on launching new products with new features and technologies in order to gain competitive edge in the market. Industries are focusing on developing new products with new features to cater to the demand from the end users. For instance, in February 2020, Endress+ Houser, a Swiss-based company who provides products and services for industrial process measurement and automation launched, Proline Prosonic Flow G 300/500 Ultrasonic Flowmeter with integrated pressure and temperature sensor in order to provide highly accurate and precise values.

Key features of the study:

  • This report provides in-depth analysis of the global intelligent flow meter market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2020– 2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading  market players
  • It profiles leading players in the global intelligent flow meter market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
  • Companies covered as a part of this study include ABB, Emerson Electric Co., Siemens, Honeywell International Inc., Yokogawa Electric Corporation, Azbil Corporation, BrooksInstrument, Sierra Instruments, Inc., KROHNE Messtechnik GmbH, General Electric, RIELS INSTRUMENTS S.r.l., KOBOLD Messring GmbH, DISTRIBUIDORA INTERNACIONAL CARMEN, S.A.U, Baker Hughes, and Fuji Electric Co., Ltd.
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
  • The global intelligent flow meter market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global intelligent flow meter market

Segmentation:

  • Global Intelligent Flow Meter Market, By Type:
    • Magnetic
    •  Coriolis
    •  Ultrasonic
    •  Vortex
    •  Multiphase
    •  Thermal
    •  Turbine
    •  Variable Area
    •  Differential Pressure
  • Global Intelligent Flow Meter Market, By End-use Industries:
    • Chemicals
    • Power Generation
    • Food and Beverages
    • Metals & Mining
    • Oil & Gas
    • Paper & Pulp
    • Pharmaceuticals
    • Water & Wastewater
    • Others
  • Global Intelligent Flow Meter Market, By Region:
    • North America
      • By Type:
        • Magnetic
        • Coriolis
        • Ultrasonic
        • Vortex
        • Multiphase
        • Thermal
        • Turbine
        • Variable Area
        • Differential Pressure
      • By End-use Industries:
        • Chemicals
        • Power Generation
        • Food and Beverages
        • Metals & Mining
        • Oil & Gas
        • Paper & Pulp
        • Pharmaceuticals
        • Water & Wastewater
        • Others
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Type:
        • Magnetic
        • Coriolis
        • Ultrasonic
        • Vortex
        • Multiphase
        • Thermal
        • Turbine
        • Variable Area
        • Differential Pressure
      • By End-use Industries:
        • Chemicals
        • Power Generation
        • Food and Beverages
        • Metals & Mining
        • Oil & Gas
        • Paper & Pulp
        • Pharmaceuticals
        • Water & Wastewater
        • Others
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Type:
        • Magnetic
        • Coriolis
        • Ultrasonic
        • Vortex
        • Multiphase
        • Thermal
        • Turbine
        • Variable Area
        • Differential Pressure
      • By End-use Industries:
        • Chemicals
        • Power Generation
        • Food and Beverages
        • Metals & Mining
        • Oil & Gas
        • Paper & Pulp
        • Pharmaceuticals
        • Water & Wastewater
        • Others
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • By Type:
        • Magnetic
        • Coriolis
        • Ultrasonic
        • Vortex
        • Multiphase
        • Thermal
        • Turbine
        • Variable Area
        • Differential Pressure
      • By End-use Industries:
        • Chemicals
        • Power Generation
        • Food and Beverages
        • Metals & Mining
        • Oil & Gas
        • Paper & Pulp
        • Pharmaceuticals
        • Water & Wastewater
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East and Africa
      • By Type:
        • Magnetic
        • Coriolis
        • Ultrasonic
        • Vortex
        • Multiphase
        • Thermal
        • Turbine
        • Variable Area
        • Differential Pressure
      • By End-use Industries:
        • Chemicals
        • Power Generation
        • Food and Beverages
        • Metals & Mining
        • Oil & Gas
        • Paper & Pulp
        • Pharmaceuticals
        • Water & Wastewater
        • Others
      • By Country/Region:
        • GCC Countries
        • South Africa
        • Rest of Middle East and Africa
  • Company Profiles
    • ABB*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Emerson Electric Co.
    • Siemens
    • Honeywell International Inc.
    • Yokogawa Electric Corporation
    • Azbil Corporation
    • BrooksInstrument
    • Sierra Instruments, Inc.
    • KROHNE Messtechnik GmbH
    • General Electric
    • RIELS INSTRUMENTS S.r.l.
    • KOBOLD Messring GmbH
    • DISTRIBUIDORA INTERNACIONAL CARMEN, S.A.U
    • Baker Hughes
    • Fuji Electric Co., Ltd.

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By End-use Industries
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
    • Impact of COVID-19
  4. Global Intelligent Flow Meter Market, By Type, 2020-2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Segment Trends
    • Magnetic
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Coriolis
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Ultrasonic
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Vortex
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Multiphase
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Thermal
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Turbine
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Variable Area
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Differential Pressure
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
  5. Global Intelligent Flow Meter Market, By End-use Industries, 2020-2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Segment Trends
    • Chemicals
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Power Generation
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Food and Beverages
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Metals & Mining
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Oil & Gas
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Paper & Pulp
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Pharmaceuticals
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Water & Wastewater
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
  6. Global Intelligent Flow Meter Market, By Region, 2020-2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By End-use Industries, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2020 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By End-use Industries, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2020 and 2027 (%)
        • U.K.
        • Germany
        • Spain
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By End-use Industries, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2020 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By End-use Industries, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2020 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By End-use Industries, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country/Region, 2020 and 2027 (%)
        • South Africa
        • GCC Countries
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • ABB
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Emerson Electric Co.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Siemens
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Honeywell International Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Yokogawa Electric Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Azbil Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • BrooksInstrument
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sierra Instruments, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • KROHNE Messtechnik GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • General Electric
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • RIELS INSTRUMENTS S.r.l.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • KOBOLD Messring GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • DISTRIBUIDORA INTERNACIONAL CARMEN, S.A.U
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Baker Hughes
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Fuji Electric Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 60 market data tables and 40 figures on "Intelligent Flow Meter Market - Global Forecast to 2027”.

FAQgrowicon

Frequently Asked Questions

The global intelligent flow meter market is expected to reach US$ 4.5 billion by 2022.
High accuracy, stability, and reliability offered by intelligent flow meters is expected to drive growth of the intelligent flow meter market during the forecast period.
The oil & gas segment held the largest market share among end user, contributing 38.2% in terms of value in 2019.
Asia Pacific region held the largest share in the global intelligent flow meter market in 2019, accounting for 41.7% share in terms of value.
Key players operating in the global intelligent flow meter market include ABB, Emerson Electric Co., Siemens, Honeywell International Inc., Yokogawa Electric Corporation, Azbil Corporation, BrooksInstrument, Sierra Instruments, Inc., KROHNE Messtechnik GmbH, General Electric, RIELS INSTRUMENTS S.r.l., KOBOLD Messring GmbH, DISTRIBUIDORA INTERNACIONAL CARMEN, S.A.U, Baker Hughes, and Fuji Electric Co., Ltd.
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