Air Velocity Meter Market | Contrive Datum Insights

Market Overview:

The Global Air Velocity Meter Market Is Forecast To Generate USD $2.25 Billion By 2022 And It Will Grow USD $ 3.42 Billion By 2030, Growing At A CAGR Of 5.4% From 2023 To 2030.

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For a certain job, the air velocity meter is the best way to figure out how fast or slow the air is moving. Some air velocity meters are called "multifunctional" because they can also measure temperature, pressure, humidity, and other environmental factors in addition to the speed of the air. Some of the better-known companies that make air velocity meters also let customers record data that can be used for research later. After that, this data can be used to draw conclusions. Also, there are a few different kinds of advanced progressive flow air velocity meters that can be used to measure a lot of the things about the air on a regular basis. When buying air velocity meters from different sellers, customers may choose to buy extra software that lets them do detailed analysis on a computer. These companies sell the air velocity meters that are needed to measure the properties of the air, which can be very different depending on the situation. The global market for air velocity meters is getting more competitive because cutting-edge products and technologies are getting better and there are more ways for technologies to work together. These things are having an effect on every market in the world.

Market Dynamics:

Market Trends:

The company that is currently the leader in the market for air velocity meters is investing in research and development to make new air velocity meters that are more accurate and respond faster than what customers expect. Companies that make air velocity meters are also trying to bring their products into the 21st century and make their instruments more accurate at the same time. The new industrial motors that are being made right now should take up less space and cost less to run than the ones that came before them. Because there are so many companies, the markets for air velocity meters are very competitive and split in China and South Korea. This is because each of these businesses is trying to get a smaller piece of the market as a whole. Some companies just started selling air velocity meters on the international market, but they have big plans. On the Asian market for air velocity meters, China is expected to become even more important, giving it a bigger share of the market. It's possible that having a lot of air speed meters would be helpful, as long as they're easy to make and the people in charge are good with technology.

Driving Factors:

• Penetration of IoT and Automation in Flow Rate Measurement Applications

In the latest survey of 200 executives from different end-user businesses, which was run by Plataine, a leading provider of Industrial IoT and AI-based automation systems, 84 percent of respondents said that they are currently implementing or evaluating options for digital manufacturing in 2020. From 27% in 2018, this number has gone up by a lot. About 69 percent of respondents said they will put Industry 4.0 solutions in place by 2020, and about 25 percent said they are working to do so. As the industry moves toward Industry 4.0 solutions, more and more flow measurement equipment needs to be automated.

Smart flow meters, also called IoT flow measurement meters, are used to control fluids, liquids, and gases with a high level of accuracy. These devices provide evaluation data in real time, as well as feedback and diagnostic options that can be used all the time. This improves efficiency and cuts costs. Smart flow meters are more accurate than traditional flow meters when it comes to measuring flow. Also, these meters can work in different kinds of weather without being affected by things like concentration, temperature, or viscosity.

Smart city projects all over the world are also helping IoT-based flow measurement devices become more popular. Management of water has become just as important as management of energy through digitization if we want to avoid waste water.

• Growing Industrial Demand Regarding Safety and Efficiency Concerns

Oil and gas, chemical and petrochemical, and other factories all need a high level of protection. Flow meters help make sure people are safe because they work at different temperature and pressure intervals.

SIL certification, IEC 61058/61511, and other standards are used to make flow meters that work safely in a variety of situations. Flow meters like this one also help cut down on accidents at work. A global workers' union called IndustriALL says that at least 75 people have died in at least 30 industrial accidents in India since May 2020. Most of the accidents happened when equipment was being moved, and accidents in general industry came in second.

Honeywell's survey results, which came out in January 2021, show that nearly a quarter of workers are thinking about quitting rather than going back to a dangerous job. About 68 percent of the people working around the world do not feel completely at ease at their jobs. Most of the people surveyed worry that building management won't always follow health and safety rules (42%), followed by worries that they won't always spend money on new technologies to make work in person safer (42%). (30 percent). Because of this, it's becoming more important to use devices like flow meters that make different parts of operation safer.

Restraints/Challenges:

• Rising Cost with Product Advancement

As the number of end users who need flow meters grows, manufacturers are focusing on releasing new technologies that can be used in more situations. The only thing that really slows the growth of the market is the rise in transformation practices, which makes flow meters more expensive up front.

Meters with better accuracy cost more, and depending on the type of meter and the flow rate, even a small improvement in accuracy can be expensive. Coriolis and magnetic flowmeters tend to have high costs at first, especially for large pipe sizes. Alicat Scientific, a company that makes flow controllers, says that Coriolis flowmeters cost between USD 4,000 and USD 6,000 and laminar flowmeters cost around USD 1,000.

A lot of money has been spent on making flow meters that are more accurate and have less turndown. This is especially true for industries where less accuracy isn't enough. On the other hand, the idea behind the new meters was to reduce optimal maintenance costs by getting rid of moving parts, which would make up for the high initial costs.

• Raw Material Price Fluctuations

The price of flow meters depends on how far they can be used and what they are made of (MoC). Flow meters are made from a variety of materials, including metal, polymers, and alloys. Changes in the prices of these materials make it hard for OEMs to get high-quality raw materials and keep up with delivery schedules set by suppliers. This makes flow meters even more expensive. Because of the COVID-19 pandemic, the supply chain was messed up all over the world, which caused the prices of raw materials to rise. This makes it hard to keep promises and costs manufacturers a lot of money.

• High Initial Cost of Coriolis and Magnetic Flow Meters

Coriolis flow meters have high initial costs compared to costs like maintenance and installation. About 70%–78% of the total cost is the cost of getting started, while the cost of engineering and installation is about 12%–18% of the total cost. About 15% of the total cost goes to maintaining the flow meter. Coriolis flow meters cost more to put in place than differential pressure and turbine flow meters. Other flow meters are hard to keep up and cost a lot to maintain. Since there are no moving parts in a magnetic flow meter, maintenance costs are low, but the cost to buy it is high.

Opportunities:

• Growing Potential for Electromagnetic Flow Meters

Because of industrial automation, there is more demand for flow measurement equipment, which has led to the development of new products that use automation.

For example, in April 2021, Krohne started making an electromagnetic flow meter for utility services and industrial automation. The flow meter is made to fit in tight places, like cooling systems, bending machines, robots, or chemical dosing skids. The AF-E 400 meets the needs of process industries in the areas of heating and cooling temperature control, machine building for washing or dosing equipment, HVAC, utilities, and industrial automation.

In November 2020, Kobold Instruments Inc. made electromagnetic flow meters (MIM), which can be used for many things, such as batching. In order to meet the needs of Industry 4.0, electromagnetic meters use IO-Link. The meters are made to work well even in bad weather. During the next few years, these market trends are likely to help electromagnetic flow meters grow.

• Increasing Capacity Expansion in High Growth Markets

During the period of the forecast, new factories are expected to open, so the need for flow meters is expected to rise. Automation is becoming more important in factories to cut down on lead times, waste, and unplanned downtime. Rapid industrialization, rising living standards, a large population, and cheap labor have all led companies to set up shop in the Asia-Pacific region and meet the growing demand.

Strategic Development:

• In December 2017 - The AirPro Velocity Meter from TSI won the 2017 Annual Innovative Product Award. TSI Incorporated is proud to say that its AirPro Velocity Meter AP500 has won the 2017 Annual Innovative Product Award in China. The AirPro instrument was given out at the 2017 National Fresh Air Industry Innovation and Development Conference. It was given out by the China Ventilation Technology Management Center (CVTMC).
• In December 2017 - TSI released the revolutionary wireless AirPro Instruments platform. TSI Incorporated is a leader in the industry when it comes to designing and making precise instruments for measuring the performance of HVAC systems. They are excited to introduce a new platform called AirPro Instruments. AirPro Instruments are revolutionary wireless solutions for measuring speed and pressure. They increase productivity by making it easier to take measurements, offering unmatched accuracy, making it easy to report multiple types of data, and having a user-friendly interface that makes operation quick and easy.

• Measuring air velocity with the Fluke 975 AirMeter: Using the Velocity Probe
  Air velocity is a key parameter when evaluating airflow system performance. As part of the basic testing, tuning, and balancing of HVAC air distribution systems, most HVAC technicians now use an anemometer to measure air velocity at a grille, register, diffuser, in a duct, or in an open space.
• Fundamental IAQ/HVAC measurements with the Fluke 975 AirMeter
  The 975 captures ten basic IAQ parameters: temperature, humidity, dew point temperature, weaving ball temperature, carbon dioxide, carbon monoxide, air velocity, air volume and percentage of outside air (calculated from temperature or CO2). This application note provides an overview of these parameters and the associated functionality of the 975. For more detailed information, see other app notes from the Fluke HVAC/IAQ library.

Key Vendors:

Top market players are

• Dare Products (U.S.)

Daré Bioscience, Inc. is a biopharmaceutical company in the United States that looks for, develops, and sells products for women's health. It comes up with treatments for things like birth control, menopause, fertility, and sexual and vaginal health.

• Gallagher (U.S.)

Gallagher is a global insurance brokerage, risk management, and consulting firm that helps people all over the world deal with risk, protect their assets, and get back on their feet after a loss. The products and services keep businesses and institutions running and give people and families the confidence they need to face the future.

• High Tech Pet (U.S.)

Established in 1986, High Tech Pet is headquartered in Ventura, California. They make electronic doors, fences, collars, and other products for pets.

• Kencove (U.S.)

HiKencove Farm Fence has been in business since 1986 and is a leader in the agricultural fence business. They offer fast, friendly, expert service and high-quality products to help you do your job right. The main office of gh Tech Pet is in Ventura, California. They make electronic doors, fences, collars, and other products for pets.

• Parker McCrory Mfg Co (U.S.)

Electronic equipment is made by Parker-Mccrory Manufacturing Company. The company sells fence chargers and accessories, insulators, wire and tape, livestock groomers, power washers, and highway warning lights. Customers in the state of Missouri are served by Parker-McCrory.

• PetSafe (U.S.)

In 1993, Petsafe Limited began. The company's main business is selling electronic parts and electronic communications equipment in large quantities.

• Premier1Supplies (U.S.)

Premier 1 Supplies, LLC provides poultry equipment and supplies. The company sells electric fencing, clippers and shears, ear tags, poultry supplies, equipment, and gifts. Customers in the state of Iowa are served by Premier 1 Supplies.

• Tru-Test Group (New Zealand)

Tru-Test Ltd. sells products for farming. The company sells hay, equipment for taking care of animals, and tools for measuring milk.

• Woodstream (U.S.)

Woodstream Corporation makes and sells products for controlling pests and taking care of and controlling wildlife. The company sells traps for rodents and insects, cage traps for live animals, repellents for animals, fertilizers, and low-toxic pesticides for lawns and gardens.

Segmentation Analysis:

The market is segmented on the basis of technology, end-user and region.

By Technology:

The flow meter market is divided into coriolis, electromagnetic, differential pressure, ultrasonic, and other types based on how they work. The coriolis segment is more important than other types of flow meters, and by 2030, it is expected to bring in $4,090 million. During the time frame of the forecast, it is expected to grow at a CAGR of 7%.

Coriolis flowmeters use the coriolis effect to measure water flow. Constant vibration gives power to a tube. When a liquid flows through a tube, the inertia causes a change in the way the tube shakes because of the mass flow momentum.

When the tube twists, there is a change in phase that can be measured, and the flow can be figured out from the linear result. If there is no flow, the measuring tube moves back and forth all the time. Since the operation principle measures mass flow, which is the same no matter what is inside the tube, it can be used with any fluid that flows through it.

• Coriolis
• Electromagnetic
• Differential Pressure
• Ultrasonic
• Others

By End-User:

By end-user, the flow meters market is divided into power generation, oil and gas, food and beverage, water and wastewater, pulp and paper, chemical and petrochemical, and other end-user industries. The chemicals and petrochemicals segment is the most important type of Flow Meters, and by 2030, it is expected to bring in USD 3,122 million. During the time frame of the forecast, it is expected to grow at a CAGR of 7%.

Tank gauging, which is the most common way to measure volume, has a lot of uncertainty because it can be hard to convert volume to mass. Because of this, it is expected that the market for electromagnetic flow meters for chemicals and petrochemicals will grow.

Also, the number of chemical plants being built in China is growing quickly. This gives companies that make electromagnetic flowmeters for the chemical and petrochemical industries a lot of new business opportunities.

For example, Royal Dutch Shell and CNOOC Oil & Petrochemicals Co Ltd (CNOOC) signed a Memorandum of Understanding in 2020 to look into the possibility of building a commercial-scale polycarbonate (PC) production unit. This was a chemical plant that CNOOC and Shell Petrochemical Company built together in Huizhou, China (CSPC).

• Oil and Gas
• Water and Wastewater
• Chemical and Petrochemical
• Food & Beverage
• Power Generation
• Pulp and Paper General Industry
• Others

Regional Insights:

Wind speed and air flow measurements are becoming more and more important in many fields, such as HVAC (heating, ventilation, and air conditioning), wind power, construction, and energy. The fact that technology is getting better and more integrated is a direct cause of this demand. One of the main reasons why the whole world needs air velocity meters is that more and more people are starting to understand how important it is to measure air speed accurately. Oceania, East Asia, South Asia, Europe, North America, the Middle East, and Africa are the seven economies that make up the global market for air velocity meters. People think that East and South Asian countries will have a big share of the global market for air velocity meters in the near future. During the time frame of the projection, South Asia is expected to grow at the same rate as the international market for air velocity meters. On the other hand, the number of people in Europe, East Asia, and North America is expected to stay the same. This is because these were some of the first places where air speed meters were used. During the time period covered by this estimate, the release of new products, the use of new technologies, and the availability of price ranges that are easy to afford could all help the market for air velocity meters grow.
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• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• The report gives a lot of information about how different things work in the global air filters industry. Some of them are growth drivers, growth restraints, competitive landscape, regional analysis, and challenges.
• It also gives an analysis of the market, current trends, and estimates to show where the best places to invest will be in the future.
• From 2023 to 2030, the market is looked at quantitatively to find out how financially stable it is.
• Detailed information about the companies is provided. In addition, the report details their capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and technological advancements.