28 March 2019, The global in line process viscometer (ILPV) market would expand at about 6.5 percent CAGR during 2016 to 2024 (forecast period). It is likely to grow to USD 210.5 million by 2024. Escalating refining capacity worldwide owing to energy demand is the key market driver. ILPV offers real-time monitoring that assists manufacturers to check the quality of products. It also helps them meet regulatory policies.
Expansion across the food & beverages industry and rising medical expenses in developing regions like China, India, & Brazil should have a positive impact on the market. Demand for ILPVs from consumer industries such as chemicals, pharmaceuticals, & petroleum may also propel the market. Additionally, accuracy & reliability of ILPVs bode well for the market and push its sales.
However, these viscometers cannot measure multidirectional flow. This coupled with the ongoing price competition is predicted to hamper the progress of market players. Precise ‘fuel viscosity’ control is deemed vital for the automotives industry. ILPVs control fuel atomization and support effective combustion. This is the key reason for them being widely accepted by the automotives industry. Technological innovations and product developments also drive market growth.
Significant initiatives for asphalt mixing and process control are projected to offer numerous prospects to market players. Yet another benefit of these instruments is ‘installation-ease.’ This characteristic augurs well for the market and propels its shares. The worldwide ILPV market is fragmented by applications, technologies, and regions.
Browse Details of Report @
Petroleum surfaced as a dominating application in 2013. It contributed about 40 percent of the global sales that year. Food and beverages is the fastest growing segment. Its expansion could be attributed mainly to the food & beverages industry across BRICS countries. Chemicals may grow at around 6.4 percent CAGR during 2012 to 2020.
Technologies consist of vibration, rotational, moving the piston, dynamic fluid pressure, coriolis, and acoustic wave. Vibration reigned over the market and generated around 22.3 percent of the overall incomes in 2013. Acoustic wave should be the fastest growing segment in the near future.
Regions of the in line process viscometer market are Asia Pacific, Europe, North America, and rest of the world. Asia Pacific led the market and was followed by North America & Europe in 2013.
Browse Related Reports in Drilling & Extraction Equipment’s Industry:
Mining Equipment Market: Increasing mining activities worldwide is expected to boost the global mining equipment market over the forecast period. Mining activities are especially rising in Asia Pacific Countries such as Australia, India and China.
Oil Spill Management Market: The global oil spill management market is expected to increase significantly over the next eight years on account of stringent environment & safety norms and government directions to comply with the norms.
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
More Information Visit @ www.hexaresearch.com
Company Name: Hexa Research
Contact Person: Ryan Shaw
Email: Send Email
Phone: +1-408-342-1548, Toll Free:+1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
Country: United States