DUBLIN, December 4, 2017 /PRNewswire/ --
The "Mass Flow Controller Market by Material, Connectivity Technology, Flow Measurement (Low, Medium, High), Application, Industry (Chemicals, Oil & Gas, Food & Beverages, Pharmaceuticals, Semiconductor), and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
The mass flow controller market is expected to grow from USD 1,019.4 Million in 2017 to USD 1,395.1 Million by 2023, at a CAGR of 5.4% between 2017 and 2023.
The growth of this market is fueled by the growing demand for mass flow controllers in the semiconductor industry for various applications, high demand for mass flow controllers in fuel cells for renewable energy applications, and increasing demand for ultra-low flow rate mass flow controllers for numerous industrial and medical applications. The organic and inorganic growth strategies, such as product developments, expansions, partnerships, contracts and agreements, and acquisitions, would further drive the growth of this market.
The mass flow controller market for the low flow rate measurement is expected to grow at the highest CAGR between 2017 and 2023 owing to the increasing demand for low flow rate mass flow controllers for various critical applications in industries such as medicals and pharmaceuticals, which drives the demand for low flow rate mass flow controllers.
Based on applications, the market for spray and coating processes is expected to grow at a higher CAGR between 2017 and 2023. This growth can be attributed to the increasing demand for mass flow controllers for liquid and gas treatment applications in various industries such as semiconductor, chemicals, and pharmaceuticals.
The market for exotic alloys is expected to witness the highest CAGR in the overall mass flow controller market between 2017 and 2023. The market for mass flow controllers made of exotic alloys is highly influenced by industries such as semiconductor, chemicals, and pharmaceuticals because of its properties to deal with high pressure, critical temperature, and high corrosion capacity in different media.
Among various industries, semiconductor held the largest share of the overall mass flow controller market in 2016. This is attributed to the growing use of mass flow controllers in various processes of the semiconductor equipment manufacturing.
Key market players in the mass flow controller market are Bronkhorst (Netherlands), Brooks (US), Burkert (Germany), Teledyne Hastings (US), HORIBA (Japan), Sensirion (Switzerland), Alicat Scientific (UK), Sierra (US), and MKS (US). These companies focus on strategies such as product launches and developments, partnerships, expansions, contracts and agreements, and acquisitions to enhance their service offerings and expand their business.
Market Dynamics
Drivers
- Chronic Demand for Mass Flow Controllers in Semiconductor Industry for Various Applications
- High Demand for Mass Flow Controllers in Fuel Cells for Renewable Energy Applications
Restraints
- Variations in Differential Pressure Creates Offset in Flow Measurement/Differential Pressure Limitation
Opportunities
- Increasing Demand for Ultra-Low Flow Rate Mass Flow Controllers for Numerous Industrial and Medical Applications
- Promising Growth in Pharmaceutical and Medical Equipment
- Increasing Demand for Mass Flow Controllers in Medical Fluids for Space Applications
Challenges
- Calibration of Mass Flow Controller is Media-Dependent
- Physical Restraints of Mass Flow Controllers Limiting the Application Areas
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Mass Flow Controller Market, By Material Type
6 Mass Flow Controller Market, By Flow Rate
7 Mass Flow Controller Market, By Connectivity Technology
8 Mass Flow Controller Market, By End Use Industry
9 Geographic Analysis
10 Competitive Landscape
11 Key Innovators
12 Appendix
Companies Mentioned
- Alicat Scientific
- Azbil Corporation
- Bronkhorst
- Brooks Instrument
- Burkert
- Horiba
- MKS Instruments
- Parker Hannifin
- Sensirion
- Sierra Instruments
- Teledyne Hastings
- Tokyo Keiso
- Vogtlin
For more information about this report visit https://www.researchandmarkets.com/research/lg5hg4/mass_flow
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