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Global Flow Sensors and Transmitters Market
Frost & Sullivan, Sep 2011, Pages: 151
Recovery of End-user Industries to Boost Adoption of Flow Sensors and Transmitters Market
Despite the negative impact of the 2008 economic recession, the global flow sensors and transmitters market is expected to grow. The rising number of projects, the establishment of new process plants, the financial recovery of numerous end-user industries, as well as re-investment in plant renovation, modernisation, capacity expansion and technology development have led to a market resurgence.
“The quest for new energy sources, including oil and gas explorations, coupled with increasing renewable energy development, are significant drivers for this market,” notes the analyst of this research. “Coriolis, ultrasonic and vortex flow sensors and transmitters are poised to benefit from growth in the oil and gas as well as the chemical and petrochemical end-user industries.”
Another key market driver is the escalating emphasis on energy efficiency, better asset utilisation, reduction in maintenance costs and enhanced process monitoring. Automation and control solutions (including field instruments) play a vital role in achieving these goals, resulting in heightened demand for flow sensors and transmitters. These trends are spreading to emerging economies, where the increased use of automated products is poised to boost the demand for all types of sensors, including flow sensors and transmitters.
Focus to be on Achieving Product Differentiation
While the market offers significant growth potential, participants will have to focus on successful product differentiation to avoid price-based competition. This will not be an easy task, given that there is little technical innovation taking place in flow sensor technologies such as positive displacement and turbine. It will be challenging for manufacturers of such products to differentiate themselves from their competitors. “The first step in a successful differentiation strategy will be to understand the needs of customers,” states the analyst. “A strong relationship with both distributors and customers will enable manufacturers to comprehend current trends and optimise their product offerings.”
Frost & Sullivan research indicates that accuracy and reliability are the major selection/purchase criteria in this market. Therefore, manufacturers should be willing to invest heavily in research and development (R&D), engineering and configuration to take accuracy and reliability to the next level. R&D will also pave the way for the development of feature-rich flow sensors and transmitters, which are other important customer requirements.
Expert Frost & Sullivan analysts thoroughly examine the following end-user industries in this research:
- Oil and gas
- Chemical and petrochemical
- Water and wastewater
- Food and beverage
- Pulp and paper
- Pharmaceuticals
- Power
- Metals, mining, and cement
- Steel
- Semiconductors
By Technology:
- Open channel
- Differential pressure (DP)
- Variable area (VA)
- Positive displacement (PD)
- Vortex
- Electromagnetic
- Coriolis
- Insertion thermal mass
- Ultrasonic
- Turbine
- Microelectromechanical systems (MEMS)
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