Nov 23, 2017   SOURCE: PR NewsWire

Mass Flow Controller Market Worth 1,395.1 Million USD by 2023

PUNE, India, November 23, 2017 /PRNewswire/ --

According to the new market research report "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", published by MarketsandMarkets(TM) , the 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 factors driving the growth of this market are 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.

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"The mass flow controller market for the pharmaceuticals industry is expected to grow at the highest CAGR during the forecast period" 

The mass flow controller market for the pharmaceuticals industry is expected to grow at the highest CAGR between 2017 and 2023. A number of applications in the medical and pharmaceuticals industries require efficient and reliable measurement of gas or liquid flow. A mass flow controller is used to measure and control gas or liquid. Continuously increasing population growth has a positive impact on the medical and pharmaceuticals industries. The aging population contributes to the sustainable growth of the market for medical devices. Emerging economies such as China and India, owing to their huge population, are rapidly driving the growth of the medical equipment and pharmaceuticals industries. Hence, in the coming years, continuously growing medical and pharmaceutical equipment market is expected to offer lucrative opportunities to mass flow controller providers.

"The mass flow controller market for the low flow measurement is expected to grow at the highest CAGR during the forecast period" 

The mass flow controller market for the low flow 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 medical and pharmaceuticals, which drives the need for low flow rate mass flow controllers.

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"The mass flow controller market for exotic alloys is expected to grow at the highest CAGR between 2017 and 2023" 

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.

"Asia Pacific expected to lead the mass flow controller market between 2017 and 2023" 

Asia Pacific (APAC) is expected to hold the largest share of the mass flow controller market during the forecast period. The mass flow controller market in emerging economies, such as China, India, and Japan, is expected to grow at the highest CAGR because of the increasing technological advances in medical and healthcare devices due to the increasing population of these countries.

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The major players operating 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).

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