(MENAFNEditorial)
The global flow sensors market is expected to reach USD 7.48 billion by 2020 according to a new study by Grand View Research Inc. Increasing quest for new energy sources along with renewable energy development is expected to drive the flow sensors market over the forecast period. Regulations governing the industry have been favorable in stimulating market growth for different types of sensors. For example standards laid by the EPA for power plants have increased the demand for gas flow sensors which are effective in monitoring gas leakage. Various initiatives are taken into consideration for energy conservation and efficiency over the years worldwide. For instance Omron Corporation offers high performance MEMS flow sensors to optimize air conditioning energy efficiency.
Further the industry has witnessed high demand from numerous end-use industries. For example in the automotive sector active and passive safety sensors have witness tremendous growth due to the growing need for accident mitigation systems. Emission of hazardous gases has led to the framing of legislations for emission control and resulted in the need for monitoring the concentration of exhaust gases.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/flow-sensors-market
Further key findings from the study suggest:
• The flow sensors market is expected to witness considerable growth over the forecast period. The need for new energy sources including oil and gas exploration and the growing significance of developing of renewable energy sources are expected to be key market drivers.
• The process industries segment is poised for significant growth over the next few years and accounted for over 25% of the overall market in 2013. Growing number projects and the establishment of new process plants along with reinvestments in plant modernization renovation and capacity expansion are expected to fuel the market demand.
• North America emerged as the dominant regional market in 2013 accounting for more than 30% of the overall market in the same year. Surging demand owing to rebound in automotive and machinery production along with regulatory mandates are expected to spur the regional market growth over the next six years.
• Key industry players include Emerson Electric Company First Sensor AG Gems Sensors & Controls Keyence Corporation Omron Corporation etc. Manufacturers focus on investing in R&D activities as accuracy and reliability are major product selection criteria. Further industry participants emphasize on product differentiation in order to avoid price competition.
Browse All Reports of this category @ http://www.grandviewresearch.com/industry/sensors-and-controls
For the purpose of this study Grand View Research has segmented the global flow sensors market on the basis of application and region:
Flow Sensors Application Outlook (Revenue USD Million 2012 – 2020)
• Automotive
• Consumer electronics
• Environmental
• Healthcare/Medical
• Process industries
• Others
Flow Sensors Regional Outlook (Revenue USD Million 2012 – 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View Research
Grand View Research Inc. is a U.S. based market research and consulting company registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports customized research reports and consulting services. To help clients make informed business decisions the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology chemicals materials healthcare and energy.
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