(MENAFN- Ameliorate Digital Consultancy)
Mass flow controller market in Asia Pacific Region forecast will be strong with increased demand for intelligent manufacturing across end-use industries. Specifically, Singapore teamed up with the World Economic Forum in January 2021 to roll out the Singapore-based Smart Industry Readiness Index, thereby garnering around USD 300 million in FY2020 for advanced manufacturing projects.
Governments are expected to shell out funds to promote the integration of automated and smart technology. It is worth noting that smart factories demand industrial instruments, including pipelines, fittings, valves and automation equipment. According to an estimate, Mass flow controller market in Asia Pacific Region size would reach USD 1 billion by 2027.
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1. Differential pressure flow meters gain ground
With oil & gas industry exhibiting strong demand for differential pressure flow meters, leading companies are poised to invest in mass flow controllers. The meters have become trendier to measure the volume flow in liquids, gases and steam as they can reduce the total cost of ownership and are ideal for low and high temperatures. Mass flow controller market in Asia Pacific Region share differential pressure flow meter could expand at over7% growth rate through 2027.
2. South Korea to provide compelling growth opportunities
Prominent companies are likely to bolster their penetration in South Korea as the demand for flow measurement instruments continues to surge in Incheon and Busan. It is worth noting that governments have upped efforts to boost pharmaceutical industry. South Korea announced its plans in April 2019 to pour USD 2.6 billion in biotech-related R&D and commercialization. Moreover, pharmaceutical companies are injecting funds to bolster their biological footprints. In November 2020, Celltrion Inc. expressed its contemplation to infuse USD 452 million to establish its third manufacturing plant in the country. South Korea mass flow controller market value is forecast to observe a 6% CAGR through 2027.
3. Analog connectivity technology becomes sought-after
Demand for analog flow controllers will be noticeable with a notable trend in research laboratories for sampling gases and experiments. Industry participants have shown profound traction for the technology to accelerate the manufacturing of mass flow controllers with high accuracy and low cost. To illustrate, in April 2021, Posifa Technologies rolled out the advanced mass airflow sensor series to perform in hostile environments. Mass flow controller market in Asia Pacific Region share from analog connectivity will observe a robust CAGR of 7% up to 2027.
4. Growth potential in India market
Industry players are likely to envisage India as a lucrative hub on the back of a bullish government approach. In May 2021, India earmarked approximately USD 32.2 million for the Department of Chemical and Petrochemicals and is vying to shell out USD 107.38 billion by 2025. India mass flow controller industry is projected to grow at around 6% CAGR up to 2027, partly due to the robust government approach in chemical sector.
With pressing growth potential, leading companies, such as Ohkura Electric Co., Teledyne Hastings Instruments, Brooks Instrument, MKS Instruments and Sensirion AG are expected to focus on mergers & acquisitions, product launches and research & development activities.
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Table of Contents (ToC) of the report:
Chapter 4 Mass flow controller market in Asia Pacific Region, By Material Type (USD)
4.1 Mass flow controller market in Asia Pacific Region, by material type, 2016-2027
4.2 Stainless steel
4.2.1 Market estimates and forecast, 2016 – 2027
4.3 Exotic alloys
4.3.1 Market estimates and forecast, 2016 – 2027
Chapter 5 Mass flow controller market in Asia Pacific Region, By Flow Rate (USD)
5.1 Mass flow controller market in Asia Pacific Region, by flow rate, 2016-2027
5.2 Low flow rate
5.2.1 Market estimates and forecast, 2016 – 2027
5.3 Medium flow rate
5.3.1 Market estimates and forecast, 2016 – 2027
5.4 High flow rate
5.4.1 Market estimates and forecast, 2016 – 2027
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