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Flow Controller Market Tops $600 Million, Finds New Flow Research Study
Wakefield, Massachusetts; March 4, 2009— A new research study finds strong growth in the one of the fastest-growing segments of the process control instrumentation market, mass flow controllers. The new study from Flow Research (www.flowresearch.com), The World Market for Mass Flow Controllers, finds that the worldwide mass flow controller market totaled $604 million in 2007, with a projected compound annual growth rate (CAGR) of 5.3% through 2012. By 2012, the worldwide market for mass flow controllers is projected to reach $780.8 million.
semiconductor market accounts for more than 60 percent of the mass flow
controllers shipped in 2007. The continuing hunger for computers and other
semiconductor products in
In industrial markets, the drive for alternative energy sources, particularly fuel cells, is boosting the use of mass flow controllers. In addition, industrial users are opting for the automation provided by mass flow controllers in gas flow and other cases where they currently have manual or non-electronic systems.
Flow Research believes it is the only company ever to have sized the industrial and laboratory research markets for mass flow controllers, along with the semiconductor market.
“The industrial and lab/research markets are made up of a wide variety of industrial segments. Some of these, such as automotive and aerospace, are going through difficult times, due to the current economic environment. Others, such as fuel cells and power, are thriving, due to the search for alternative energy sources. The need to find alternative sources of energy will drive additional research and development in the foreseeable future. Mass flow controllers will benefit from this growth, as they are used to measure and control gas flows in these segments.”
Flow Research, Inc.
Flow Research (www.flowresearch.com) provides market data and strategies on flowmeters and instrumentation. Recent projects include market studies on the world flowmeter market, steam flow, ultrasonic flowmeters, Coriolis flowmeters, and mass flow controllers. Flow Research also publishes quarterly reports on the flowmeter and energy markets as part of the Worldflow Monitoring Service (www.worldflow.com). More information is available on the mass flow controller study and market at www.flowmfc.com, Flow Research’s Knowledge Website devoted to mass flow controllers.