Mass Flow Controller Market Share 2035
Research Nester’s recent market research analysis on “Mass Flow Controller Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global mass flow controller market in terms of market segmentation by media type, material, flow rate, product, end user, and by region.
Fourth Industrial Revolution to Promote Global Market Share of Mass Flow Controller
The global mass flow controller market is estimated to grow majorly on account of onset of automation and the fourth revolution of industrialization that has increased the demand for mass flow controllers. Mass flow controllers or smart meters are integrated with smart systems to enable precise flow control and measurement. Furthermore, the need for saving energy is expected to increase the demand for equipment that provides energy efficiency. Precise flow control achieved through mass flow controllers helps industries optimize fluid usage, leading to energy savings and reduced operational costs.
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Besides this, the growing reliability of renewable energy sources, such as wind energy and solar energy is also expected to drive the market growth. Renewable energy supply from solar, wind, hydro, geothermal, and ocean sources increased by almost 8% in 2022, increasing their share of total worldwide power supply by nearly 0.4 percentage points to 5.5%. Both solar panels and wind turbines use mass flow controllers for the accurate flow of gases, liquids, and lubrications.
Some of the major growth factors and challenges that are associated with the growth of the global mass flow controller market are:
Growth Drivers:
• Surging Demand for Wastewater Treatment
• Rising Use of Smart Flow Meters
Challenges:
Mass flow controller uses various gases as their medium, therefore it is important to find the compatibility with different gases and liquids. Ensuring the compatibility of equipment with different liquids and also achieving accurate results, in different industries is a major challenge for the industry. On the other hand, there are various substitutes for mass flow controllers present in the market, such as variable area flowmeters and differential pressure flowmeters. Both of them are highly efficient and give tough competition to the market. These are some of the major factors anticipated to hamper the global market size of mass flow controller.
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On the basis of material, the global mass flow controller market is segmented into exotic alloys, bronze, stainless steel, and brass. The exotic alloys segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. Out of all, exotic alloys are expected to dominate the market growth, the dominance is on account of rising demand for core material that is highly anti-corrosive and can sustain even in harsh environments.
By region, the Europe market, among all other regions, is expected to hold the bulk of the share by the end of 2035. The growth of the market can be attributed majorly to the rising production of medicines and other drugs. Europe has some great players in the pharmaceutical industry, such as Novo Nordisk, Pfizer, AstraZeneca, and others. Furthermore, due to the pandemic, the drug pipeline has significantly expanded and the research and development on drugs and vaccines has further increased the need for mass flow controllers. On the other hand, the ambitious goal of the European government to achieve carbon neutrality is also expected to drive market growth in the region.
This report also provides the existing competitive scenario of some of the key players of the global mass flow controller market which includes company profiling of Sensirion AG, Horiba Ltd., MKS Instruments, Azbil Corporation, Alicat Scientific, Bronhorst HighTech, Burket Fluid Control Systems, Brooks Instruments, Aalborg Instruments & Controls, Inc., and Horiba Ltd.
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