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Frost + Sullivan Research Predicts Growth of Flow Sensors and Transmitters Market Worldwide

Frost & Sullivan has released the report titled Global Flow Sensors and Transmitters Market that provides an analysis of the global market from 2007 to2017 and examines the challenges, driving factors and geographical trends.

The report observes that understanding the requirements of the customer with more focus on research & development will spur the market growth, resulting in market value of $6423.8 million in the next five years, despite the impact of the economic recession of 2008.

Market resurgence has been spurred by establishment of new process plants, financial recovery of several end-user manufacturers, plant renovation, capacity expansion, technology development and modernization. The Frost & Sullivan analysis reports that in 2010, the flow sensors and transmitters market earned revenue of $4847.6 million and this number will continue to grow.

The industry analyst at Frost & Sullivan, V Sankaranarayanan stated that the market driver is in the pursuit for new energy sources coupled with growing renewable energy development. Sankaranarayanan also notes that vortex, ultrasonic and coriolis flow sensors and transmitters will benefit from the growth in petrochemical, chemical and oil & gas industries. The stress on better energy efficiency with lower maintenance costs, improved asset utilization and process monitoring is also another market driver. Control and automation solutions are also attributed as the result of increasing demand for transmitters and flow sensors.

Emerging economies will also feel the impact of these trends and the growing use of automated products will increase the demand for all categories of sensors.

The end-user industries examined by the researchers and analysts include oil and gas, chemical and petrochemical, water and wastewater, food and beverage, pulp and paper, pharmaceuticals, power, steel, semiconductors as well as metals, mining, and cement.

Source: http://www.frost.com

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