Smart measurement devices have been introduced by key players in the gas and liquid flow management system market, which feature predictive intelligence and deliver advanced intelligence to prevent any imminent hazard. Advanced velocity-based diagnostics developed by manufacturers have ensured dynamics of the Gas and Liquid Flow Management Systems Market to be within control limits. Manufacturers that focus on developing gas and liquid flow management system, which is capable of monitoring and controlling every metering parameters for greater operational efficiency, will continue to witness promising prospects in the near future.
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Predominant stakeholders in the gas and liquid flow management system have been incorporating various products, ranging from simple flow indicator to advanced bus-compatible electronic system. Reliable and versatile metering solutions, built for suiting all kinds of industries and processes, of leading companies will continue to uphold the growth of gas and liquid flow management system market.
Manufacturers of gas and liquid flow management system are directing their focus toward determining appropriate calibration scope, as it imparts confidence in the measurement and assurance of accuracy required in an instrument for maintaining process or product within specifications. Decisions are being made by these manufacturers with regard to variables being measures and desired accuracy on the basis of application standpoint, and capabilities of devices being calibrated.
Automation and process sophistication has made industrial jobs simple, yet relatively intricate. Safety has become the single most important criteria for process design. The learnings from past explosions or accidents in the industries, caused by improper handling and storage of fluids has made companies to take rigorous steps to manage the same. Different methods and approaches, including awareness, provision of flow management systems, etc., have been brooded over and put into effect in improving management of gas and liquids in different industries during various applications.
The key equipment/components of the fluid flow management systems include pipelines, gas detector, flame detector, flow controllers, calibration systems, among others. These flow management systems are helping the core industries in maintaining recommended safety levels for various technical processes in industries such as, oil and gas, chemical manufacturing, metal production, mining, etc. The flow management systems can be utilized for both the steady use as well as for transportation use. While their installation, certain important parameters, such as temperature and pressure transmitters, volume verification, internal-external leak detection, etc. are taken into consideration for effective operation. Industrial growth, coupled with increasing awareness about the safely standards, the deployment of gas and liquid flow management systems is expected to increase, and the market is expected to create sustainable growth opportunities over the forecast period of 2017–2027.
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Owing to the increasing requirement for equipment performance, efficiency, safety and industrial management, a rise in demand for fluid management systems has been witnessed during the recent years. This is expected to act as a driving factor for the global gas and liquid flow management system market, along with significant rise in their applications in various end-use industries. High equipment maintenance cost, however, is expected to be a key impeding factor, often overshadowing the need for safety by discouraging end-users to go for the products.
The significant application portfolio of fluid flow management systems in various end use industries, therefore, is expected to grow rapidly in future, in turn boosting its market growth over the forecast years.
Rapid industrialization will continue to drive the demand for fluid and flow management devices in the developing economies, as a result of the adoption of safety which is being carried out in developed economies. The fluid flow management systems are well established in the North America and Europe market, while the demand for these products from Latin America and the Asia Pacific is in the growing phase, increasing the regional market share of Asia Pacific in the global market. The market size, contrary to the overall regional market growth, in the Latin America and African countries is estimated to remain subdued for relatively less industrial growth, however, the much awaited commodity price improvement is anticipated to spur the regional macro-economic market growth, in turn creating better market opportunities across countries.
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