Flow Sensors Market Growth & Trends
The global flow sensors market size is expected to reach USD 13.68 billion by 2030, registering at a CAGR of 6.5%. Increasing quest for new energy sources along with renewable energy development is expected to drive the market over the forecast period. Regulations governing the industry have been favorable in stimulating market growth for different types of sensor. For example, standards laid by the EPA for power plants have increased the demand for gas flow sensor 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 sensor 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 sensor 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.
Flow Sensors Market Report Highlights
- Gas flow sensors accounted for the largest market revenue share of 53.9% in 2023. There has been a significant increase in the need for fossil fuel-derived energy sources to power vehicles due to extensive growth in the automotive sector.
- The process industries segment is poised for significant growth over the next few years, and accounted for over 30.4% of the overall market in 2023. 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 2023 accounting for more than 34.5% 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 few years.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Flow Sensors Market Variables, Trends, & Scope
Chapter 4. Flow Sensors Market: Type Estimates & Trend Analysis
Chapter 5. Flow Sensors Market: Technology Estimates & Trend Analysis
Chapter 6. Flow Sensors Market: Application Estimates & Trend Analysis
Chapter 7. Flow Sensors Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
- Rechner Sensors
- Proxitron GmbH
- Siemens AG
- Sika AG
- First SensorAG
- EmersonElectric Co.
- SICK AG
- OMEGA Engineering
- Christian Bürkert GmbH & Co. KG
- TSI
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 8.85 Billion |
| Forecasted Market Value ( USD | $ 13.68 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
