Albany, NY -- (SBWire) -- 10/27/2017 --The growing uptake of thermal energy flow metering solutions has egged savvy companies to extend their product portfolio, worldwide. Besides, players are also focused on product differentiation by adding innovative features to their products. They are designing thermal flow meters that provide exceptional accuracy and repeatability over a wide range of flow rates and can even gauge flow in large pipes. This, coupled with numerous manufacturers in the space, makes the market for thermal energy flow metering solutions highly competitive.
Further, entry of new players is also predicted to heat up competition in the global thermal energy flow metering solutions market in the near future.
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Some of the prominent participants in the global thermal energy flow metering solutions market are QMC, ABB Ltd, Elster Water, Siemens, Enercare Connections Inc., Fluid Components LLC, Emerson Electric Co., Kamstrup Group, Sage Metering, Landis+Gyr AG, Shenitech LLC, GE Electric Co., Sierra Instruments Inc., Yokogawa Electric, and Corporation.
According to a report by Transparency Market Research, the global thermal energy flow metering solutions market will likely register a CAGR of 5.9% from 2017 to 2025 to become worth US$4.706 bn by 2025.
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The global market for thermal energy flow metering solutions can be segmented based on different parameters. Depending upon type, the global thermal energy flow metering solutions market can be segmented into portable, insertion, and inline. Among them, the portable segment is expected to expand at a healthy clip in the next couple of years.
Depending upon geography, the key segments of the global thermal energy flow metering solutions market are North America, South America, Asia Pacific, Europe, and the Middle East and Africa. Of them, Asia Pacific is slated to clock maximum growth on the back of technological progress and the rising demand for continuous emissions monitoring systems in countries such as Japan, China, and India. Another factor stoking growth in the Asia Pacific market is the industrial sector's growing demand for better measurement solutions for estimating the total mass flow rate of a fluid.
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There are a number of growth drivers in the global thermal energy flow metering solutions market. Thrust by many nations on onsite power generation and solar thermal energy, in order to bring down their annual fossil fuel import and up energy security, have served to stoke demand in the market. In addition, with the concept of sustainable buildings and green building gaining traction, the market growth is getting boosted further. The swift pace of urbanization, worldwide, too is catalyzing growth in the market by driving up demand for proper water supply and the need to monitor it.
On the flipside, however, rising adoption of hybrid metering systems is expected to crimp sales of thermal energy flow meters in the next couple of years.
This review is based on the findings of a TMR report, titled, "Thermal Energy Flow Metering Solutions Market (Type - Insertion, Portable, and Inline; Application - Residential and Commercial (Water and Waste Treatment, Food and Beverages, Chemical and Petrochemical, Pulp and Paper Industries); Component - Devices (Thermal Energy Metering, Heat Cost Allocation, Hot and Cold Sanitary Water Metering, Wirelessly Connected Data Collection Tools and Technologies, and Sensors) and Services) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."
Thermal Energy Flow Metering Solutions Market: Technological Growth Map over Time to Understand the Industry Growth Rate