$1.5Bn Mass Flow Controller Market - Worldwide Forecast to 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 7, 2019--The “Mass Flow Controller Market by Material, Media, Connectivity Technology, Flow Measurement (Low, Medium, High), Application, End-Use Industry (Semiconductors, Chemicals, Oil & Gas, Pharmaceuticals), and Geography - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The mass flow controller market is expected to grow from USD 1.1 billion in 2019 to USD 1.5 billion by 2024, at a CAGR of 6.21%.
The growth of this market is mainly driven by growing demand for mass flow controllers in the semiconductors industry, surging demand for intelligent flow meters in the chemicals and water & wastewater industries, and increasing demand for mass flow controllers in fuel cells for renewable energy applications.
Growing opportunities in pharmaceutical and medical equipment and increasing demand for mass flow controllers for space applications provide lucrative opportunities for players in the mass flow controller market.
The competitive landscape shows that product launches, acquisitions, and expansions were the key strategies adopted by the players in the mass flow controller market from February 2019 to March 2016. Bronkhorst High-Tech (Netherlands), Brooks Instrument (US), Burkert Fluid Control Systems (Germany), MKS Instruments (US), Sierra Instruments (US), Horiba (Japan), Sensirion (Switzerland), Alicat Scientific (US), and Teledyne Hastings Instruments (US) are among the major mass flow controller providers.
Fluid & gas processing and control application to hold the largest size of mass flow controller market during the forecast period
Fluid & gas processing and control application accounted for the largest share of the mass flow controller market in 2018. Mass flow controllers play an essential role in the fluid & gas processing and control application to measure and control the flow of liquids and gases.
A mass flow controller is designed and calibrated to control a specific type of liquid or gas at a particular range of flow rates. It is used to pass media at certain pressure rates to efficiently complete the mainstream production process. Monitoring and controlling pressure rates of media is the most critical factor in the fluid & gas processing and control application.
Low flow rate mass flow controller to grow at highest CAGR during the forecast period
Low flow rate mass flow controllers are used in industries, namely, semiconductors, chemicals, and food & beverages, for various critical applications in which high precision and stability are essential. For example, in laboratory research processes of the chemicals industry, various sub-processes such as testing, and heat treatment need low flow rate mass flow, controllers.
Also, in the semiconductor chip manufacturing for the doping process, it is essential to control the flow of deposition media at a very low flow rate. Owing to the growth of the market for low flow rate mass flow controllers, many companies are investing in its development.
Semiconductors industry to hold a significantly large share of mass flow controller market by 2024
Mass flow controllers are used for various critical applications, such as wafer cleaning, thin film deposition, PCB treatment, chemical vapor deposition, and gas and spray coating, in the semiconductors industry. A few processes require mass flow controllers capable of accurately measuring and controlling low flow rates.
For example, in the precision coating application, gas and liquid flow control are adjusted according to the requirement of coating thickness. Mass flow controllers used in the semiconductors industry are highly efficient and effective as these controllers manage the overall flow of media/materials that are used to manufacture various elements, such as wafers and chips, in the semiconductors industry.
Market in APAC to grow at highest CAGR during the forecast period
The mass flow controller market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to dominate the market due to factors such as increasing population, emerging economies, and rising adoption of mass flow controllers across different end-use industries, such as semiconductors, oil & gas, medical, pharmaceuticals, and chemicals.
Increasing investments in the semiconductors industry and rising demand for efficient devices for measurement and control, and industrial automation are among the major factors driving the growth of the market in this region. Most of the key players operating in the mass flow controller market have their production capacity in APAC as the production cost in this region is lower than that of in other regions.
- Growing Demand for Mass Flow Controllers in Semiconductors Industry
- Surging Demand for Intelligent Flow Meters in Chemicals and Water & Wastewater Industries
- Increasing Demand for Mass Flow Controllers in Fuel Cells for Renewable Energy Applications
- Variations in Differential Pressure Create Offset in Flow Measurement
- High Initial Cost and Physical Restraints of Mass Flow Controllers
- Growing Opportunities in Pharmaceutical and Medical Equipment
- Increasing Demand for Mass Flow Controllers for Space Applications
- Media Dependency in Calibration of Mass Flow Controller
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Mass Flow Controller Market, By Material Type
7 Mass Flow Controller Market, By Flow Rate
8 Mass Flow Controller Market, By Media Type
9 Mass Flow Controller Market, By Connectivity Technology
10 Mass Flow Controller Market, By Application
11 Mass Flow Controller Market, By End-Use Industry
12 Geographic Analysis
13 Competitive Landscape
14 Company Profiles
- Alicat Scientific
- Axetris AG
- Azbil Corporation
- Bronkhorst High-Tech
- Brooks Instrument
- Burkert Fluid Control Systems
- Dwyer Instruments
- Fcon Co.
- Kelly Pneumatics
- Kofloc Kyoto
- MKS Instruments
- Parker Hannifin
- Sierra Instruments
- Teledyne Hastings Instruments
- Tokyo Keiso
- Vogtlin Instruments
For more information about this report visit https://www.researchandmarkets.com/r/tofju6
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SOURCE: Research and Markets
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PUB: 05/07/2019 05:52 AM/DISC: 05/07/2019 05:52 AM