The global flow meter market size is estimated to
reach USD 11.05 billion by 2025, according to the new report conducted by Grand
View Research, Inc., expanding at a CAGR of 5.98% during the forecast period.
Rising penetration of IoT is escalating the demand for smart flow rate
measurement solutions, which is turn is stoking the demand for intelligent flow
meters. Rapid urbanization is augmenting the need for better water &
wastewater management. This, along with technological advancements that are
enhancing the accuracy and reliability of flow meters, is working in favor of
the market.
The flow meter market has been reviewed on the basis
of product, application, and geography. Based on products, the market is
segmented into differential pressure (DP), pressure displacement (PD),
magnetic, ultrasonic, Coriolis, turbine, vortex, and others (variable area,
multiphase, thermal, and others). The magnetic segment holds the largest share
in the market. However, ultrasonic and Coriolis are expected to register the
highest CAGR during the forecast period owing to advancements in technology
that make ultrasonic and Coriolis flow meters highly reliable and accurate.
Coriolis flow meters enhance the reliability,
accuracy, and efficiency of liquid flow ratemeasurement. Furthermore,
integration of IoT in flow rate measurement solutions has helped transform the
flow meters into intelligent flow meters. Hence, the adoption of Coriolis flow
meters is projected to rise significantly over the forecast period. Widespread
adoption of Coriolis flow meters in the oil & gas, chemicals, and refinery
sectors is anticipated to influence the market positively.
Based on applications, the flow meter market is
divided into oil & gas, power generation, water & wastewater
management, chemical, pulp & paper, food & beverage, and others. The
water & wastewater segment is likely to witness robust growth over the
forecast period owing to rapid urbanization in various parts of the world,
particularly in Asia Pacific, South America, and Africa. These regions would
aggressively adopt efficient solutions for the treatment, control, monitoring,
and regulation of water supplies and management of wastewater, thereby
triggering the demand for flow rate measurement solutions and instruments.
From a geographical standpoint, the market has been
fragmented into North America, Asia Pacific (APAC), Europe, South America, and
the Middle East & Africa (MEA). Europe held the largest market share in
2016. Europe is home to several manufacturers and product innovators of flow
rate measurement solutions and services. However, APAC is poised to experience
the highest growth over the forecast period owing to rapid urbanization in
emerging countries, which is stimulating the need for adequate power generation
and efficient water & wastewater management.
While emerging economies in Asia Pacific such as
China, India, and other South East Asian nations are industrializing rapidly,
regional manufacturers and providers of flow rate measurement solution are
entering into partnerships and collaborations with global players as a part of
their efforts to capitalize on opportunities prevailing in the regional as well
as the global market. Regional players are also improving their customer
engagement activities and enhancing their portfolio of products and services.
The flow meter market size in India is anticipated to
witness significant expansion over the forecast years on account of rapid
urbanization and growing industrialization. As the need for water &
wastewater management is expected to increase notably in India and other South
East Asian countries, the demand for flow meters is projected to tread along a
healthy growth track in the coming years.
General Electric, ABB Ltd., Emerson Electric Co.,
Yokogawa Electric Corporation, and Hitachi Ltd. are some of the eminent
providers and vendors of flow rate measurement solutions. These market
incumbents along with other peers are constantly emphasizing on product
innovation and enhancing product & solution portfolio. They have realized
lucrative opportunities in the oil & gas, petroleum, chemicals, and water
& wastewater management sectors and are, therefore, targeting these
sectors.
Browse full research report on Flow Meters Market: https://www.grandviewresearch.com/industry-analysis/flow-meters-market
Further
key findings from the report suggest:
- The water & wastewater segment is estimated to be the leading
revenue contributor over the forecast period
- Businesses, including the flow rate measurement industry, in
countries of the Middle East such as the UAE, Saudi Arabia, Oman, and
Qatar are focusing on expansion by establishing friendly relations with
eminent manufacturers in western countries
- Demand for flow meters is likely to grow over the forecast period
on account of integration of IoT in flow meters, which is leading to
introduction of smart flow rate measurement solutions
- Custody-transfer in the oil & gas sector is one of the key
applications creating high demand for ultrasonic and Coriolis flow meters
and leading to adoption of smart flow meters
- Asia Pacific is poised to post the highest CAGR over the forecast
period owing to substantial demand and adoption of flow meters in various
application sectors, particularly in China, India, and South East Asian
countries.
- Key industry participants are ABB (Asea Brown Boveri) Ltd., Emerson
Electric Co., General Electric (GE), KROHNE Messtechnik, Höntzsch GmbH,
Siemens AG, and Hitachi, Ltd., Yokogawa Electric Corporation.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/technology
Grand
View Research has segmented the global flow meter market based on printer
product, application, and region:
Flow
Meter Product Outlook (Revenue, USD Million, 2014 - 2025)
- Differential
Pressure (DP)
- Positive
Displacement (PD)
- Magnetic
- Ultrasonic
- Coriolis
- Turbine
- Vortex
- Others
Flow
Meter Application Outlook (Revenue, USD Million, 2014 - 2025)
- Water &
Wastewater
- Oil & Gas
- Chemicals
- Power
Generation
- Pulp &
Paper
- Food &
Beverage
- Others
Flow
Meter Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- The Middle
East & Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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