World Global In-Line Process Viscometer (ILPV) Market Expected to Reach Globally Worth $185.4 Million By 2020

The global market for in-line process viscometer is expected to reach USD 185.4 million by 2020, according to a new study by Grand View Research, Inc. Rapid increase in global refining capacity on account of growing energy demand is expected to remain a key driving factor for the global market. ILPV provides real-time monitoring that helps manufacturers monitor product quality and meet regulatory standards. Additionally, growth in food and beverage industry coupled with increasing healthcare expenditure in the emerging markets of India, China and Brazil is also expected to have a positive influence on market growth. Lack of ability to measure multidirectional flow along with ongoing price wars is expected to remain key challenges for market participants.

Vibration emerged as the leading technology segment for ILPV and accounted for 22.3% of total market revenue in 2013. Vibration technology is best suited for continuous direct viscosity measurement in tanks and/or pipes and is widely used across various end-use industries. Acoustic wave is expected to be the fastest growing technology segment, at an estimated CAGR of 7.3% from 2014 to 2020. Acoustic wave technology is widely used for oil conditioning based monitoring needs which have helped in developing its market particularly in oil & gas industry.