The Brazil flow sensor market has been disrupted by modern technologies in flowmeter systems such as magnetic flow sensors, vortex, ultrasonic flow sensors, and others. Ultrasonic flow meters are fitted with sensors that utilize sound waves to detect the presence and direction of the fluids. Ultrasonic flow sensors are used extensively in the oil and gas industry for their accuracy. They are highly safe and are able to self-diagnose functionality errors. Similarly, vortex flow sensors work excellently in environments where industrial equipment is constantly in motion. The consistent movement of these parts can be problematic for the fluid to maintain seamless passage, which is why vortex sensors are placed to manage the flow. Post the economic recession that Brazil underwent in the first quarter of 2017, the economy of this country has recovered at a fast pace. Industrial production has witnessed a steady upliftment in Brazil, thereby providing impetus to the flow sensor market. According to the Census and Economic Information Center, industrial production in Brazil grew at a rate of 8.6% during May 2019, thus recording the highest growth since 1986. Industries such as oil and gas, food and beverage, water management, chemical, pharmaceutical, pulp and paper, aerospace, energy, and others will be directly responsible for improving the growth of the Brazil flow sensor market during the forecast period.
The Brazil flow sensor market share will increase with a CAGR of 5.4% during the forecast period 2019-2025. In 2018, the Brazil flow sensor market size reached $126 million.
Industries Assisting The Growth Of The Brazil Flow Sensor Market
The role of industries in fuelling the growth of the Brazil flow sensor market share is indispensable. Since flow sensors are majorly used inside manufacturing and processing units, industries form the core end-users of this market. Brazil’s primary focus in industrial production has shifted towards import substitution. This has caused mass production of indigenous products in the country, thus providing impetus to the Brazil flow sensor market. The industries directly responsible for the growth of this market are:-
Oil and Gas Industry and the Prospects for the Brazil Flow Sensor Market Player- The oil and gas industry is flourishing in Brazil. In 2018, the country exported a noticeable $26 billion worth of oil and gas from the world. According to DNV GL, technical advisor to Brazil’s oil and industry segment, this industry will experience sharp growth in 2019 and beyond. According to DNV GL’s research, approximately 93% of senior companies specializing in Brazil’s oil and gas industry production are highly optimistic about the growth of their business. Embracement of digitization is being cited as a key factor for the growth of this industry in Brazil. Using digitization, companies plan on expanding their businesses by data-sharing platforms and making manufacturing units more robust and accurate. Flow sensors play a crucial role in measuring the rate at which oil and gas flow inside systems designed for refinement and other processing. The oil and gas industry will, therefore, be highly profitable to Brazil flow sensor market in the forecast period.
The Contribution of Water Management to the Increase in the Brazil Flow Sensor Market Size - According to a survey done by the National System of Basic Sanitation Information, 54.2% out of the total water consumed in all regions of Brazil is sewage water. Furthermore, 5570 municipalities are currently present in Brazil which are recycling sewage water at a fast rate. Though Brazil is blessed with abundant natural water resources, rapid urbanization and mismanaged sanitation systems have caused an emergence of a water crisis in the country. This water crisis is confined mostly to the northeastern parts of Brazil including Sao Paulo State, Teresina, Belem, Palmas, and others because of pollution and extremely high evapotranspiration due to climate change. These factors have immensely benefitted the Brazil flow sensor market as the demand for flow meters rises across increasing water treatment systems in the country. Flow sensors are used in water management for checking the flow of water inside the treatment pipes.
The Booming Prospects in Healthcare and Pharmaceutical Industry- The Brazil pharmaceutical is a highly promising one and has recorded a steady growth even during the country’s worst recession phase. The Brazilian government has also not deterred from investment in the country’s healthcare and pharmaceutical prospects. In 2018, the government of Brazil maximized imports of medical devices by 21.8%. Furthermore, Brazil’s healthcare sector is the largest in Latin America and the country spends approximately 9% out of its GDP on the healthcare sector. A large part of this is contributed to the pharmaceutical industry where flow sensors play an indispensable role. Production of medicines requires the utilization of many chemicals that are highly volatile and can have unexpected behaviors. Flow sensors help in controlling chemicals such as these. In the pharmaceutical industry, flow sensors are used in the application of paint to a pill. This technology requires accuracy and precision as every pill needs to have a similar coating. Flow meters help in measuring the amount of paint that is applied, thus generating a high demand for the Brazil flow sensor market.
Brazil Flow Sensor Market: Key Market Players
The companies that hold the majority of the market shares in the Brazil flow sensor market are Rechner Sensors, Proxitron Siemens AG, Sika AG, First Sensor AG, Emerson Electric Co., SICK AG, OMEGA Engineering, Christian Bürkert GmbH & Co. KG, TSI Incorporated, Keyence Corporation, and Sensirion AGGmbH.
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