Global Mass Flow Controllers Industry

Global Mass Flow Controllers Industry

  • April 2021 •
  • 564 pages •
  • Report ID: 5899883 •
  • Format: PDF
Abstract:
- Industrial Output Declines as COVID-19 Disrupts Economic Activity & Triggers a Global Recession
- The global market for Mass Flow Controllers is projected to reach a revised size of US$ 1 billion by the year 2027, after navigating the short-term pain estimated for the market in 2020 as a result of the ongoing pandemic. The COVID-19 pandemic is having a considerable impact on the world economy and all industries. The imposition of travel bans, quarantines and lockdowns in several key economies are leading to slowdowns in supply chain, stock market volatility in addition to affecting business confidence and causing widespread health and financial panic among the world population. The unprecedented magnitude of disruption caused by the pandemic has pushed the world into a recession. In addition to adversely affecting the global economy, the outbreak is also having a major impact on Asian economies as a result of weak global trade, domestic demand, decline in industries production, and collapse of the tourism industry. The pandemic is estimated to cost trillions of dollars in losses for the global economy. Commodity-rich exporting countries are expected to experience a US$2- US$3 trillion fall in revenues in the near term. As global business activity contracts and the economy comes virtually to a standstill, manufacturing PMI indices are in sharp declines, lower than the 2009 recession. Global GDP is expected to decline by -3% as against the projected 2.9% growth before the pandemic. A combination of all the aforementioned macro-economic issues alongside more specific factors such as suspension of the transportation; disruptions in supply chains; changes in demand patterns, have resulted in global PMI falling from 50.4 in January 2020 to 46.1 points in February-2020 to an unbelievable 39.4 points in March-2020.
- Plant Equipment Upgrade CAPEX Plans In-Limbo
- A part of the industrial supplies value chain, mass flow controllers is expected to feel the heat of shrinking industrial output. As shuttered factories and weak demand erode revenues and cash flows of manufacturing companies, budgets marked for plant equipment upgrades are being slashed and purchase plans postponed. The chemical industry, which requires precision fluid measurement and controls is a major end-user of mass flow controllers. The decline in chemical production growth between December 2019 and May 2020 has adversely impacted demand for mass flow controllers. Demand for mass flow controllers will decline by -17. 8% & -4. 8% for 2020 & 2021 respectively as budgets for equipment/instruments in chemical plants and factories come under pressure. Although countries are now cautiously crawling out of the imposed restrictions and lockdowns, fears over a second wave of infections remains high. Major social and business challenges confront mass flow equipment exporting nations such as Germany, Japan, Italy, and the U.S. India, Russia, Mexico, Thailand, and South Korea, which are among the major importers of mass flow controllers, also area also wielding a significant negative influence on the market.
- Current & Post COVID-19 Growth Prospects
- A lone bright spot in the market is the increased demand for mass flow controllers in ventilator production which is being ramped up worldwide on a war footing. Mass flow controllers are used in modern medical ventilation systems for measuring gas flows. Accurate mass flow control is crucial in validating the accuracy of oxygen flow for mechanical ventilators and respiratory medical equipment. In the post COVID-19 period, growth will come from expanding applications in semiconductors, chemicals, pharmaceuticals, oil & gas, food & beverages, and water & wastewater treatment. Progressive developments in laboratory and biomedical research and sustained emphasis on renewable energy and solar power infrastructure development will also spur growth. The redoubled focus on industrial automation, smart factory and Industrial Internet of Things (IIoT) in the post COVID-19 period will drive additional drive demand for controller technologies and sophisticated process technologies such as flow metering and control.

- Select Competitors (Total 74 Featured) -
  • Aalborg Instruments & Controls, Inc.
  • Alicat Scientific, Inc.
  • Axetris AG
  • Azbil Corporation
  • Bronkhorst High-Tech BV
  • Brooks Instrument, LLC
  • Christian Bürkert GmbH & Co. KG
  • Horiba, Ltd.
  • MKP Co., Ltd.
  • MKS Instruments Inc.
  • Parker Hannifin Corporation
  • Sensirion AG
  • Teledyne Hastings Instruments
  • Tokyo Keiso Co. Ltd.
  • Vögtlin Instruments GmbH