Thermal Flow Meter Market - Forecast(2024 - 2030)

Report Code: ESR 0447 Report Format: PDF + Excel

Thermal Flow Meter Market Overview

The Thermal Flow Meter Market size is forecast to reach $880.5 million by 2027, growing at a CAGR of 6.52% from 2022 to 2027. The mass flow of clean gases including air, nitrogen, hydrogen, helium, ammonia, argon, and other industrial gases is typically measured with thermal flow meters because thermal flow meters with data loggers can monitor compressed air consumption and waste. In addition, for stack gas monitoring (flue gas) or air emission monitoring, thermal mass flow meters are utilized in conjunction with continuous emissions monitoring systems. This continuous emission monitoring systems are mainly used as chart recorders as they continuously record, collect and report the required data related to emission of gasses through transmitters. In addition, stringent government regulations and policies to check environment pollution is creating the demand for continuous emission monitoring systems thereby driving the thermal flow meter industry. Further, the thermal flow meter market is primarily driven by the growth of the oil and gas industry. Also, thermal flow meters growing demand from the water and waste management industry is boosting its demand, which is further accelerating the growth of the thermal flow meter industry outlook. Furthermore, demand for technologically advanced thermal flow meters by end user industries is creating new opportunities for various players in the market there by increasing the thermal flow meter market share in the forecast period 2022-2027.

Thermal Flow Meter Market Report Coverage

The report: “Thermal Flow Meter Report– Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Thermal Flow Meter Industry.

By Type: Insertion Thermal Flow Meter, Portable Thermal Flow Meter, Inline Thermal Flow Meter, Bypass Thermal Flow Meter, and Others
By Sensor: Temperature Sensors and Flow Sensors
By Heat Measurement: Constant Temperature Differential Meter and Constant Current Differential Meter
By End Users: Oil and Gas, Power, Chemical, Metal and Mining, Food and Beverage, Pulp and Paper, Pharmaceuticals, Textile, Water and Waste, and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of Africa))

Key Takeaways

  • Asia-Pacific region is anticipated to dominate the thermal flow meter market, owing to the growing oil and gas, food and beverage, and such industries.
  • The increasing need for continuous emissions monitoring systems is a significant driver driving the growth of the thermal flow meter market since continuous emissions monitoring systems are used to monitor, analyze, and report the required data on gas emissions regularly.
  • The growing demand for highly technological thermal flow meters by various end-user sectors is creating new prospects for market growth.
  • Thermal Flow Meter companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.

Global Thermal Flow Meter Market Value Share, By Region, 2021 (%)

Global Thermal Flow Meter Market Value

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Thermal Flow Meter Market Segment Analysis- By Type

Based on product, insertion thermal flow meter segment is analyzed to grow with the highest CAGR of 7.5% during the forecast period 2022-2027. Insertion thermal flow meter is a form of a temperature measurement instrument that measures heat transfer across a portion is an insertion thermal flow meter. It is ideal for high-pressure and high-temperature applications such as oil and gas, chemical, and other comparable sectors, whereas other types, such as portable thermal flow meters, can not be utilized for such applications. Also, the ease of installation is one of the primary benefits of the insertion-type thermal flow meter. Thus, these factors are playing a major role in increasing the demand for insertion flow thermal flow meters, which is further benefiting the segmental growth of the market.

Thermal Flow Meter Market Segment Analysis- By End-Use Industry

The oil and gas sector is anticipated to witness the fastest growth in the global thermal flow meter market with a CAGR of around 7.7% during 2022-2027. Thermal flow meters are widely utilized in oil and gas applications since thermal mass flow technology directly detects the flow of gases at the molecular level, it has become an industry standard for gas mass flow control. Hence, making it ideal for oil and gas application. Moreover, in the oil and gas industry thermal flow meter is used along with flow chart recorders to track the temperature, pressure, and flow of oil and gas. Moreover, the expanding new facility development related to the oil and gas industry to increase the production related to oil and gas is further accelerating the market growth. For instance, in October 2021, North Dakota has approved preliminary funding for a US$2.8 billion gas-to-liquids (GTL) plant planned for Trenton in Williams County, North Dakota, U.S, with construction set to begin in 2023. Hence, such oil and gas facility development to increase the oil and gas production is anticipated to boost the thermal flow meter demand, thereby, propelling the thermal flow meter market growth during the forecast period.

Thermal Flow Meter Market Segment Analysis- By Geography

Asia-Pacific region accounted for the largest share of around 33% in the global thermal flow meter market in 2021 and is also anticipated to have significant growth during the forecast period. In the Asia-Pacific region, the industrial sector such as oil and gas, waste and water, and other such industries are growing, owing to this it is expected that the demand for thermal flow meters will increase, which will further expand the market growth. For instance, according to Invest India, Under the Sustainable Alternative Towards Affordable Transportation (SATAT) scheme, the Indian government intends to build approximately 5,000 compressed biogas (CBG) facilities by 2023. With this, the oil and gas industry will get the benefit of increased production and the demand will be created for thermal flow meters to measure and monitor the liquid and gas pressure. Also, according to International Trade Administration (ITA), during 2021-2025, China's strong governmental support and investment focus will present chances in sewage pipeline maintenance, treatment of black and odorous water bodies, and development of wastewater treatment facilities in second and third-tier cities. Therefore, these government measures are supporting the growth the oil and gas, water and waste, and other such industries in the Asia-Pacific region, further boosting the thermal flow meter market size.

Thermal Flow Meter Market Drivers

Growing water and waste industry

The thermal flow meter is utilized in conjunction with the pressure filter during the water treatment process. It can be put in a variety of locations, such as the inlet and outflow of the pressure filter, to measure water flow during water treatment. As a result, thermal flow meters bring enormous value to the effective monitoring and management of the water treatment process. The construction of water filtration plants around the world is expanding, which is expected to increase the thermal flow meter demand to test the water pressure. For example, the construction of a water filtration plant in Nowgam village, India, is scheduled to begin in 2021; this project would offer clean drinking water to nearly 40,000 residents in four villages in the Anantnag region. Furthermore, the Rose Valley Water Treatment Plant in West Kelowna is set to open in 2021, providing safe drinking water to nearly 18,000 households. As a result of the increased development of water treatment plants, the demand for thermal flow meters is increasing, resulting in the expansion of the thermal flow meter market.

Increasing power generation industry

In power generation facilities thermal power meter is utilized for heat input and temperature measurements in the transmitters to determine the fluid flow. The increasing electricity needs across the world will drive the power generation industry, which in turn will fuel the demand for thermal flow meters hence, creating an opportunity for market growth. For instance, according to U.S. Energy Information Administration (EIA), in the year 2020, the global net electricity generation to the grid was 24,993 billion watts, and it has been projected that by 2025, this will increase to 28,164 billion watts, an increase of 12.7%. Thus, the expanding electricity generation will accelerate the demand for components such as transmitters and since transmitters require frequent measurements, this will create an opportunity for the thermal flow meter market growth during the projected forecast period.

Thermal Flow Meter Market Challenges

Diminishing sensitivity, composition change, and other factors are limiting the market growth

The thermal mass flow meter has decreased sensitivity at high velocities, which affects the thermal flow meter’s performance and accuracy. Furthermore, any change in gas composition reduces the thermal flow meter's accuracy. The sensor buildup increases the bulk, slows response time, and lowers the thermal flow meter's accuracy. Accurate flow measurement in big air ducts is also difficult since the flow profile is determined by pipe diameter, which necessitates very long straight lines that are often unavailable in these circumstances. Hence, these factors limit the performance and accuracy of thermal flow meters, restricting the growth of the thermal flow meter market.

Thermal Flow Meter Industry Outlook

Product launches, Partnerships, and R&D activities are key strategies adopted by players in the market. Thermal Flow Meter top 10 companies include:

  1. Emerson Electric
  2. Bronkhorst
  3. ABB LTD
  4. Eldridge Products
  5. Siemens AG
  6. Sage Metering
  7. SICK AG
  8. Thermal Instrument Company
  9. Honeywell International Inc.
  10. Fluid Components International

Recent Developments

  • In January 2021, Badger Meter, Inc. acquired Analytical Technology, Inc., which is specialized in the design, manufacture and distribution of water quality instruments based on electrochemical and optical sensors. This acquisition will enhance the product portfolio of Badger Meter, Inc. in the water and wastewater industry.
  • In October 2020, Endressa and Hauser launched a new generation of thermal mass flow meter Proline t-mass F/I 300/500 flow meters. This product can be used in the oil and gas industry for quantity measurement, process control, cost allocation, leak detection, and other applications. Such Product launches related to thermal flow meters will benefit the market growth.
  • In June 2020, ABB Ltd., has launched its Sensyflow FMT700-P Compact thermal flow meter. The P-Compact is designed to test traditional turbochargers and components, including throttle valves, intake fans, and air filters, and examine the performance of hydrogen fuel cells.

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1. Thermal Flow Meter Market- Market Overview
    1.1 Definitions and Scope
2. Thermal Flow Meter Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by Type
    2.3 Key trends by Heat Measurement
    2.4 Key trends by Sensor
    2.5 Key Trends by End-Use Industry
    2.6 Key trends segmented by geography
3. Thermal Flow Meter Market–Market Landscape
    3.1 Comparative Analysis
        3.1.1 Product Benchmarking
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 10 companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis
4. Thermal Flow Meter Market– Industry Market Entry Scenario Premium (Premium)
    4.1 Regulatory Framework Overview
    4.2 New Business and Ease of Doing business index
    4.3 Case studies of successful ventures
    4.4 Customer Analysis – Top 10 companies
5. Thermal Flow Meter Market – Startup Company Scenario (Premium)
    5.1 Investment Analysis
    5.2 Venture Capital Funding Scenario
6. Thermal Flow Meter Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Thermal Flow Meter Market – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle
    7.4 Suppliers and Distributors
8. Thermal Flow Meter Market- By Type
    8.1 Insertion Thermal Flow Meter
    8.2 Portable Thermal Flow Meter
    8.3 Inline Thermal Flow Meter
    8.4 Bypass Thermal Flow Meter
    8.5 Others
9. Thermal Flow Meter Market-By Sensors
    9.1 Temperature Sensors
    9.2 Flow Sensors
10. Thermal Flow Meter Market- By Heat Measurement
    10.1 Constant Temperature Differential Meter
    10.2 Constant Current Differential Meter
11. Thermal Flow Meter Market- By End-Use Industry
    11.1 Oil and Gas
    11.2 Power
    11.3 Chemical
    11.4 Metal and Mining
    11.5 Food and Beverage
    11.6 Pulp and Paper
    11.7 Pharmaceuticals
    11.8 Textile
    11.9 Water and Waste
    11.10  Others
12. Thermal Flow Meter Market - By Geography (Market Size -$Million/Billion)
    12.1 North America
        12.1.1 U.S
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 U.K
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Others
    12.3 APAC
        12.3.1 China
        12.3.2 Japan
        12.3.3 South Korea
        12.3.4 India
        12.3.5 Australia
        12.3.6 Others
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Others
    12.5 RoW
        12.5.1 Middle East
        12.5.2 Africa
13. Thermal Flow Meter Market- Entropy
14. Thermal Flow Meter Market- Industry Competition Landscape (Premium)
    14.1 Global Market Share
    14.2 Market Share by Region
    14.3 Market Share by Type
    14.4 Market Share by End Users
15. Thermal Flow Meter Market- Key Company List by Country Premium (Premium)
16. Thermal Flow Meter Market Company Analysis
    16.1 Market Share, Company Revenue, Products, M&A, Developments
    16.2 Emerson Electric
    16.3 Bronkhorst
    16.4 ABB LTD
    16.5 Eldridge Products
    16.6 Siemens AG
    16.7 Sage Metering
    16.8 SICK AG
    16.9 Thermal Instrument Company
    16.10 Honeywell International Inc.
    16.11 Fluid Components International
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