Increase in Fuel Efficient Vehicles is Boosting the Demand for Global Fuel Flow Meter Market
A new analysis report on the global fuel flow meter market which is forecasted between 2023 and 2028 has been published by Knowledge Sourcing Intelligence.
The fuel flow meter market is expected to grow at a CAGR of 4.58%, from US$3.946 billion in 2021 to US$5.398 billion in 2028.
The prime factors propelling the market growth of the global fuel flow meter market are the advancement in technology, increasing demand for fuel-efficient vehicles, and machines, the need for correct fuel consumption observation, and increasing digitalization and automation are propelling the market demand in forecast period for the upcoming years.
The growing automotive and aerospace production is further fuelling the market growth in the forecast for the upcoming years.
Various developments and government initiatives are driving the global fuel flow meter market. For instance, in July 2021, GE Aviation launched a new digital fuel meter for aircraft engines to increase and improve fuel efficiency and reduce harmful emissions. On September 2021, Bosch Automotive Service Solutions developed its FSA 740 and FSA 750 flow metering systems which can measure fuel consumption for gasoline and diesel vehicles.
The global fuel flow meter market is divided into mechanical and digital depending on the type. Mechanical fuel flow meter will have mechanical moving parts like gears, and turbines to measure total flow. The digital fuel flow meter is a digital computer display that provides measurement of total flow and instant flow rate.
The global fuel flow meter market is divided into petrol and diesel depending on fuel type. A petrol fuel flow meter is a device used to measure petrol volume moving through the line per unit of time. A diesel fuel flow meter is used to measure liquid flow or instant flow of pipe tubes.
The global fuel flow meter market is divided into automotive, aerospace, defence, marine, and others depending on the end users. The automotive industry is involved in the designing, and manufacturing of motor vehicles. The aerospace industry is engaged in the manufacture of flight vehicles. The marine industry deals with the designing of ships and maintenance.
According to geographic segmentation, over the predicted period, Asia Pacific is projected to hold a significant share of the global fuel flow meter market. China, India, and South Korea have a growing demand for fuel flow meters. The government is making various investments in sectors like automotive, aviation, and marine to increase the fuel flow meter market growth.
The research includes coverage of Ametek Inc., Broil Sensotek Industries, Flowtech Measurement Instruments Private Limited, Fluidyne Control System, and Technoton as significant players in the global fuel flow meter market.
This analytics report segments the global fuel flow meter market on the following basis:
Segmentation:
- By Type
- Mechanical
- Digital
- By Fuel Type
- Petrol
- Diesel
- By End User
- Automotive
- Aerospace & Defence
- Marine
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Other
- North America
