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Global Corioils Meters Market growth reason rising demand for energy globally over next five years

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Coriolis meter measures mass flow of liquids such as water, acids, chemicals, caustic, and gases/vapours. On the basis of operation, coriolis meter is classified into two types-straight tube flow meter and curved tube flow meter.  Coriolis meters consists of single curved and a thin-walled tube in which high fluid velocities are generated by reducing the tube cross-sectional area connected to the process pipe. Coriolis meters are used in various applications such as process evaluation and optimization, product quality control, feed characterization, chemical additives metering, and concentration measurement. Coriolis meters are useful for fluids with changing viscosity, compressibility, and density. Also, coriolis meters are suitable for steam-in-place (SIP), clean-in-place (CIP), and sterilisable service applications in personal care products.

Rising demand for energy globally is expected to boost growth of the global corioils meters market over next five years

Rising demand for energy globally and rapid growth in industrialization are key factors driving growth of the global corioils meters market. In addition, increasing demand from oil and gas industry for calculating mass flow of liquids, increasing focus on natural and shale gas production, and expanding exploration activities in deep waters are other factors expected to propel growth of the global corioils meters market over the forecast period.

However, high maintainance cost of equipment and lack of skilled workforce are some of the factors restraining growth of the global corioils meters market over the forecast period.

The global corioils meters market is segmented on the basis of fluid type, application, and region. On the basis of region, the global corioils meters market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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The market in North America is expected to account for the largest share in terms of revenue as compared to other regions. This can be attributed to rising demand for innovative technologies in oil & gas industry, and development of shale gas production in countries in the region. The market in Asia Pacific is projected to witness the fastest growth over the forecast period, owing to development of oil and energy industry and growing energy demand in emerging economies in the region. Also, the market in Middle East is expected to register moderate growth over the forecast period owing to increasing oil exploration activities and large energy reserves in the region.

Prominent players in the global corioils meters market include Emerson Electric Co., Siemens AG, Yokogawa Electric Corporation, ABB Ltd., Schneider Electric S.E., Liquid Controls, LLC, Honeywell International Inc., Hoffer Flow Controls, Inc., and Christian Bürkert GmbH & Co. KG.