As per the new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global density meter market is currently valued at US$ 1 billion.
Equipment that measures the density of substances is known as a density meter. In most cases, the density of the sample/solution being detected is determined in relation to its mass. These metrics help the manufacturing and processing sectors in increasing the effectiveness of their operations.
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The market for density meters is expanding as a result of the existence of regulatory requirements for measuring gaseous and liquid solutions of various sectors and the rising attention of oil and gas companies from the downstream sector given towards improving their operations. The market is benefiting from the growing use of density meters in the food, beverage, and chemical sectors. Governments’ enforcement of safety regulations to uphold the standard of ready-to-eat foods and soft drinks is anticipated to spur industry expansion. Density meters measure alcoholic and non-alcoholic beverages to produce reliable findings.
Because of their ability to fit in the hand and be used while on the go, portable density meters dominate the market. Backed by technological developments, portable density meters are now self-explanatory and do not require a user manual. Due to their advantages such as autonomous sampling, improved workflow, quick sample entering, and effort minimization, they are in great demand for chemistry applications as well as food & beverage manufacturing.
The Asia Pacific region is emerging as a profitable marketplace for density meter producers due to rapid industrialization across the region.
Key Takeaways from Market Study
- Global sales of density meters are expected to increase at a CAGR of 4% during the next 5 years (2022-2027).
- The global density meter market is expected to attain a valuation of US$ 1.3 billion by 2027.
- China’s market is expected to reach US$ 231 million by 2027.
- The process segment is predicted to rise at a CAGR of 4% from 2022 to 2027.
“Potential growth possibilities for the density meter market are being created by the rising demand for tough and corrosion-resistant liquid density meters for harsh liquid measurement”, says a Fact.MR analyst.
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Thermo Fisher Scientific, Emerson, Anton Paar, Mettler Toledo, Bopp & Reuther, DahoMeter, Krüss Optronic GmbH, Berthold Technologies, Yokogawa, Schmidt + Haensch, Kyoto Electronics, and AMETEK, Inc. are some of the key suppliers of density meters.
Several new density meters are being introduced in the market by key players.
- Flexim introduced the FLUXUS H831 in May 2022. This non-intrusive, explosion-proof meter can assess many additional factors in the oil & gas sector, including operational density and density at base conditions.
Why is India Emerging as a Lucrative Market for Density Meter Providers?
“Investments by Foreign Companies Driving Density Meter Market Growth”
- In May 2022, ONGC announced intentions to invest USD 4 billion from FY22 to FY25 to expand its exploration activities in India, according to the India Brand Equity Foundation. By 2045, it is anticipated that India’s oil consumption will register 2x growth, which means 11 million barrels per day.
- The department for the promotion of Industry and Internal Trade (DPIIT) passed an order enabling 100% foreign direct investments (FDIs) under an automatic route for oil and gas PSUs in July 2021, according to the India Brand Equity Foundation.
Thus, India is expected to provide beneficial opportunities to the process automation industry as well as food and beverage companies.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global density meter market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of implementation (process, lab), type (benchtop, portable), application (ultrasonic, vibrating, optical, microwave, nuclear, others), and vertical (water & wastewater, oil & gas, chemicals, metals & mining, food & beverages, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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