The global flow meters market size is likely to attain over USD 13.1 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 5.9% during the forecast years 2021-2028. Flow meters, sometimes also referred to as flow sensors, are basically electronic devices that primarily measure or regulate the flow rate of liquids and gases within the pipes and tubes. They are commonly used in HVAC systems, medical devices, chemical factories, and septic systems. These meters can primarily detect leaks, blockages, pipe bursts, and changes in the liquid concentration, owing to any contamination or pollution.
The present and future flow meters’ market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the flow meters market opportunities during the forecast years. Factors such as the global focus on increasing process automation is the key factor driving the market growth.
However, economic slowdown and declining oil prices coupled with rising cost with product advancement is hampering the market growth. Furthermore, increasing capacity expansion in high growth markets is likely to provide lucrative development opportunities for the flow meters’ market in the forthcoming years.
The report also emphasizes several distinctiveness of the global flow meters industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the flow meters industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The flow meters market has tough competition among the new emerging and pre-established market vendors. Besides, the flow meters industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
Based on the End-use, the market is segmented into Water & wastewater, Refining & petrochemical, Oil & gas, and Chemical. The Water & wastewater segment gathered the major market share in 2020 and it is likely to continue its dominance throughout the forecast years. Applications of flow meters include water consumption metering, dosing of water treatment chemicals, leakage deduction & reduction, measuring water consumption in irrigation systems, groundwater consumption, monitoring influent and effluent water quantity in waste treatment plants, accurate billing & water consumption monitoring, monitoring of water flow between reservoirs, municipal network load monitoring, purge treatment, greywater recycling, anaerobic digestion, biogas measurement, residential sub-metering, and utility management.
Asia Pacific accounted for a maximum share of the global market over the forecast period owing to the growing investments in developing countries and manufacturing capacity additions across end-use industries, especially water treatment and chemical processing. However, Europe is expected to have a noteworthy growth over the forecast period owing to the use of flow meters for industrial, commercial, and household applications.
The major players of the global flow meters’ market Honeywell International Inc., Siemens Group, Emerson Electric Co., ABB Ltd., Yokogawa Electric Corporation, Azbil Corporation, Badger Meter, Inc., Endress+Hauser Management AG, Krohne Messtechnik GmbH, and Schneider Electric. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. Renowned companies are offering new and modern flow meters. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Flow Meters’ Market
Product Type Overview, 2019-2028 (USD Million)
- Differential pressure
- Positive displacement
- Ultrasonic (Spool Pieces, Clamp-On, Insertion)
- Magnetic (In-Line, Insertion, Low flow)
Application Overview, 2019-2028 (USD Million)
End-use Overview, 2019-2028 (USD Million)
- Water & wastewater
- Refining & petrochemical
- Oil & gas
- Power generation
- Pulp & Paper
- Food & Beverage
- Metals & Mining
Regional Overview, 2019-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America