LOS ANGELES, Nov. 27, 2019 (GLOBE NEWSWIRE/KOREA IT TIMES) -- The global sight flow indicators market is expected to grow at a CAGR of around 4.2% over the forecast period 2019 to 2026 and reach the market value of around US$ 893.6 million by 2026.
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In 2018, Asia Pacific region accounted for the large market share and projected to maintain its dominance over the forecast period. The major economies of the region including Japan, China and India are contributing to the market growth. The strong presence of the pharmaceutical sector with a potential market share in Japan is supporting the market growth. The increasing demand from the food processing industry of the region for maintaining hygiene, along with increasing awareness about the healthy food among the residents is driving the market growth. The oil and gas industry of India is observing a major transformation in recent years is further supporting the market growth.
By type, the rotary indicators segment has dominated the sight flow indicators market in the year 2018 and the rotary type segment is also expected to marinating its dominance over the forecast period. Rotary indicators are experiencing potential demand from transparent solutions and gases which is driving the market growth. These indicators are offered with a rotating wheel which makes it a perfect option for installation at any position. The increasing demand from pipelines carrying dark opaque solutions is accelerating market growth. Moreover, rotary indicators are installed where the observations regarding the fluid are made from a distance.
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The chemicals segment leads the market by application with maximum share in 2018. The increasing need to monitor the speed and quality of liquids and gases in the chemical industry for efficient handling is primarily driving the market growth. Along with these, the chemical companies are also using sight flow indicators for monitoring production, where they use flow meter within cooling or filtration systems to monitor chemicals including water. In addition, the manufacturers are also offering products that are complying with the various industry standards is also favoring the market value. For instance, the EMERSON group is offering sight flow indicators which are American National Standards Institute (ANSI) rated and have application across refrigeration, power piping, petroleum, and petrochemical.
The chemicals segment is followed by the pharmaceuticals where the sight flow indicators are experiencing potential demand along with the expanding global healthcare industry. In pharmaceuticals, the operators can observe the direction and rate of flow and condition of the fluid without interrupting the process flow.
Some of the leading competitors are Papailias Incorporated, Dover Corporation, KENCO International, Inc., Kadant Inc., Crane BS&U., Val. Co Srl, KOBOLD Messring GmbH, PresSure Products Company, and The Nippon Joint, Ltd.
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Sight Flow Indicators companies have to match the industry standards of various organizations including ASME, ASTM, CSA, FDA, ANSI, AWS, and Mil-Spec. Sight Flow Indicators companies are investing in technologies and offering advanced products in the market. For instance, Companies like OPW Engineered Systems are manufacturing sight flow indicators with 60 years of experience in the field. The ongoing product development by the manufacturer is now offering sight flow indicators like VISI-FLO with the no lead guarantee for a defined period, dimensionally interchangeable, no requirement for special maintenance or torquing sequence, and provide rated vacuum service of up to 635 mm of mercury (Hg) at 85.5% vacuum.
Some of the key observations regarding sight flow indicators industry include:
- Cyclops a 1959 based organization has celebrated its 60th year of operation in 2019. The company is operating in a wide range of products including sight flow indicators, spray rings, sight lights, and sight glass replacements.
- American National Standards Institute (ANSI) has provided pressure ratings to the standard pipe sizes ranging from ¼ inch to 16-inch and are available with sight flow indicators.
- L.J. Star has developed LumiFlo LED light for improving visibility for inline sight inspections. The new invention has usage across the food & beverage industry, process observation in material processing which depends on the sight glass flow indicators and efficient lighting designs.
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