(MENAFN Editorial) Dublin, Dec. 04, 2017 (GLOBE NEWSWIRE) -- The report has been added to Research and Markets' offering.
The mass flow controller market is expected to grow at a CAGR of 5.4% between 2017 and 2023 and is expected to grow from USD 1,019.4 million in 2017 to USD 1,395.1 million by 2023.
The key factors driving the growth of the market are the development strategies, such as contracts and agreements, product launches and developments, partnerships, and expansions, implemented by the players operating in the mass flow controller market as well as 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. However, the major restraining factor for the growth of this market is the variation in differential pressure of the MFC creates offset in the flow measurement.
The semiconductor industry is expected to hold the largest share by 2023 of the overall mass flow controller market owing to the increasing demand for mass flow controllers in manufacturing processes of semiconductor devices/products. The rise in innovations and developments in the semiconductor industry significantly drives the growth of this market at present, and a similar trend is likely to continue in the near future.
The market for the semiconductor industry is expected to grow at the highest CAGR between 2017 and 2023. The semiconductor industry is cyclic in nature. Although being cyclic in nature, the market for MFCs is expected to witness steady growth in the semiconductor industry as the mass flow controller is an indispensable product for the manufacturing of semiconductor devices. As a result, the semiconductor industry is expected to hold the largest share of this market during the forecast period.
Presently, mass flow controllers are used in numerous industries such as semiconductor, oil & gas, chemicals, food & beverages, pharmaceuticals, water & wastewater treatment, and metals & mining. All applications allied with these industries demand mass flow controllers having the ability to measure low, medium, and high flow ranges. The application requirements vary with the criticality of the process. Some of the applications such as medical equipment, healthcare devices, and semiconductor manufacturing processes need ultra-low flow rate mass flow controllers. The ultra-low flow rate mass flow controllers are also likely to be highly adopted for industrial applications, namely analytical instruments, coating, dispensing, leakage testing, and industrial automation, which, in turn, is expected to create several opportunities to low flow rate mass flow controller providers in the near future. Owing to this, low flow rate mass flow controllers are expected to hold the largest share of the overall mass flow controller market in 2017.
The mass flow controller market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2017 and 2023. The increasing population growth in the emerging countries, namely China, India, and Japan is likely to have a positive impact on the medical and pharmaceuticals industries. The aging population contributes to the sustainable growth of the market for medical devices. Owing to the huge population in emerging countries such as China, India, and Japan, the medical equipment and pharmaceutical industries are rapidly driving the demand for mass flow controllers. This market in emerging economies is expected to grow at the highest CAGR because of the increasing technological advancements in medical and healthcare devices.
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
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