The density meter market is expected to register a CAGR of 4.25 % over the forecast period of (2020 - 2025). The growth of the density meter market can be attributed to the growth of smart factories, and the increased demand to accurately measure the density of the fluids used in or during various production processes. Also, the stringent government regulations in the United States and European countries to regulate the emissions also drive market growth.
- With the expansion in industrialization and an increase in the demand for energy resources, the Oil and Gas industry is expanding simultaneously. However, for maintaining uniformity and quality throughout the crude material, the process industries rely majorly on technical equipment, wherein density meter plays a significant role.
- The transition will enforce the Oil and Gas production sectors to accelerate the production rate causing the requirement of machinery and testing equipment to increase, resulting in a higher demand for density meters.
- For instance, ultrasonic density/concentration meters are widely used in oil & gas, water and wastewater treatment, metals and mining, chemicals, and pulp and paper industries. As ultrasonic density meters are more accurate, they are preferred in various industries, and hence, the market for this type is expected to grow rapidly.
- Moreover, the regulations and product safety testing are critical factors to be cleared by Food and Beverage manufacturers. The scenario creates a high demand for density meter as a testing and quality check equipment for the food and beverage industry fueling the growth of density meter is stringent regulations with regard to food quality & safety.
- However, tradeoff between the accuracy and cost of the density meter equipment becomes a restraint hampering the market growth.
Scope of the Report
Density meters are defined as the analytical measuring instruments that are used to determine the density of liquids or gases. It is also known as densimeter. Density measurements are defined as mass per volume and are an important quality control parameter as the calculations are indicative of purity, consistency, and/or concentration of substances used in both industry and research. The applicability of density meter has a wide scope wherein quality assurance and testing are key roles performed by the device.
Key Market Trends
Oil and Gas Industry is Expected to Hold the Largest Size of the Density Meter Market
- In the Oil and Gas industry, density meters are utilized in down streaming processes, wherein purification and assessment of the purified sample are measured before manufacturing.
- Also, densimeter are used in various sectors of application such as tanker truck and railcars loading stations, product identification on multi-product pipeline, product quality control in production process, mass measurement in aircraft refueling application, among others.
- Moreover, on-line density measurement provides a pipeline operator with the ability to see the density change from one batch to the next and make the appropriate valve changes to properly route liquids to the correct destination. Another common use is in pipeline leak detection where operators look for relatively small leaks by comparing pressures and flow rates at points along a pipeline.
- Thus, the increasing usage of Oil and gas as a fuel due to industrialization would generate a higher demand for density meters in the market.
Asia-Pacific to be Fastest Growing Market and Largest Market
- The increasing industrialization in Asia-pacific is making the region one of the potential markets for density meters. The process automation industry is also expected to avail of various opportunities in Asia-pacific. In the coming years, India is expected to provide more opportunities for the process automation industry because of its political and global reformation.
- Owing to the increase in the number of food & beverage and pharmaceutical companies in Asia-Pacific and their focus on expanding their operations & manufacturing units across different parts of Asia-Pacific, the demand for density meter is predicted to witness substantial growth.
- Moreover, the government initiative in the water and wastewater treatment industry is acting as a vital factor for the growth of the density meter market across the Asia-Pacific region.
The density meter market is highly fragmented in nature. Due to the presence of several players, the market has strong competition. Moreover, apart from the major players, the other players contribute nearly 35–40% in the density meter market. Some of the major players in the market are Anton Paar GmbH, VWR International (Avantor), Mettler Toledo, Berthold Technologies GmbH & Co. KG, Red Meters, Schmidt + Haensch GmbH & Co., Thermo Fisher Scientific, Koehler Instrument Company Inc., Emerson Electric Co., Meidensha Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Endress+Hauser, among others.
- Sept 2019 - Endress+Hauser and Deutsche Telekom had a partnership to drive the industry digitization with 5G campus networks. The aim of the cooperation is to develop joint offers in the field of measurement and automation technology for the process industry. This involves the integration of measuring instruments and accessories into the next generation of mobile communication networks as well as digital services based on them.
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