According to a new report, published by KBV research, The Global Flow Sensors Market size is expected to reach $12.8 billion by 2031, rising at a market growth of 6.2% CAGR during the forecast period.
The Gas segment is registering a CAGR of 5.7 % during the forecast period. Gas flow sensors are critical for ensuring safety in various applications, such as monitoring gas leaks in industrial settings, residential areas, and commercial buildings.
The Differential Flow segment led the Global Flow Sensors Market by Technology in 2023; thereby, achieving a market value of $4 billion by 2031. Differential flow sensors are designed to measure the difference in pressure between two points in a flow system. This feature provides highly accurate and reliable measurements, especially in applications where precise flow measurement is critical.
The Process Industries segment is growing at a CAGR of 5.3 % during the forecast period. Process industries, such as chemical, petrochemical, pharmaceutical, and food and beverage, require precise flow measurement to ensure the accurate mixing, dosing, and monitoring of various fluids. Accurate flow measurement is essential for maintaining product quality and consistency.
Full Report: https://www.kbvresearch.com/flow-sensors-market/
The North America region dominated the Global Flow Sensors Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4.4 billion by 2031. The Europe region is anticipated to grow at a CAGR of 6.1% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 6.8% during (2024 - 2031).
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