USD 7.7 billion
Flow Meter Market Size, Share, Growth Analysis, By Type(Differential Pressure, Positive Displacement), By End-user Industry(Water & Waste Water, Oil & Gas), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20D2184 |
Region:
Global |
Published Date: November, 2024
Pages:
260
|Tables:
77
|Figures:
75
Flow Meter Market Insights
Flow Meter Market size was valued at USD 7.7 billion in 2022 and is poised to grow from USD 8.18 billion in 2023 to USD 14.05 billion by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).
Flow meter are used in system monitoring and control. The system is remotely monitored using modern, IoT-integrated flow meter. System parameter are changed based on a reading of the critical flow parameter. The ability to interface meter with a computer for instantaneous flow readout to remotely control flow or allow unattended process operation is becoming increasingly important. New types of flowmeter are being introduced to meet such demands, while older designs are being improved and updated.
Technological advancements such as wireless monitoring and control, advanced sensors, and digital readouts are expected to drive market growth over the forecast period. Product manufacturers are increasingly using Internet of Things (IoT) sensors for smart metering solutions. The advanced approach of IoT enables automatic smart meter, which automatically and remotely collects data. The market is expected to grow at a significant rate from 2021 to 2028 as a result of such technological advancements in products. However, product calibration is a time-consuming process that will pose a challenge to market growth.
US Flow Meter Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Water & waste water
Fastest Growth
Water & waste water
Growth Rate
6.2% CAGR
Global Flow Meter Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Flow Meter Market Segmental Analysis
Global Flow Meter Market is segmented by Type, by End User and by Region. Based on Type, the market is segmented into Differential Pressure, Positive Displacement, Magnetic (In-line, Insertion, Low Flow), Ultrasonic (Spool piece, Clamp-on, Insertion), Coriolis, Turbine, Vortex, others. Based on End User, the market is segmented Water & Waste Water, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Metals & Mining, Refinery & Petrochemicals, Food & Beverage, Healthcare & Life Science, Semiconductors, Pharmaceuticals.. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa. .
Flow Meter Market Analysis by End User Industry
The global flow meter market is segmented based on end user industry into water & waste water, oil & gas, chemicals, power generation, pulp & paper, metals & mining, refinery & petrochemicals, food & beverage, and pharmaceuticals. Water and wastewater are expected to be the most important end-use industries for flow meter, owing to increased demand from the water industries in North America and Europe. Stringent regulations enacted by governments in these regions to support the goals of sustainability and zero carbon emissions are easing the need for clean effluent discharge from production plants in these regions. Because of the growing demand for high-quality water, flow meter are widely used in the water and wastewater end-use industries. Multinational corporations are investing heavily in manufacturing plants in China and India, among other countries in the region. Because of these countries' stringent regulations, the plants will be required to process their effluents before discharging them. These aspects are expected to drive the flow meter market in the water & wastewater industry.
Global Flow Meter Market By End User
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Flow Meter Market Regional Insights
The global flow meter market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. During the forecast period, Asia Pacific is expected to be the largest and fastest-growing region for the flow meter market. In 2020, China dominated the Asia Pacific flow meter market. The country's flow meter market is expanding due to increased demand from the oil and gas, water and wastewater, chemical, power generation, metals and mining, and other industries. In Asia Pacific, there is a growing demand for metering water consumption, reducing leakage, and dosing water treatment chemicals. As a result, demand for flow meter is expected to rise during the forecast period.
After European countries, the United States is one of the most regulated. The flow meter market is dominated by the oil and gas, water and wastewater, and renewable energy industries. According to the Center of Sustainable Systems at the University of Michigan's US Renewable Energy Factsheet (2020), approximately 80% of the nation's energy comes from fossil fuels, 8.4% from nuclear power, and 11.4% from renewable sources. The flow meter market in Canada is being driven primarily by the food and beverage processing and crude oil production industries. According to the Government of Canada, the food and beverage processing industry is the country's second largest manufacturing industry in terms of output value. It accounts for 17% of total manufacturing sales and 2% of national GDP (GDP).
Global Flow Meter Market By Region
- Largest
- Fastest
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Flow Meter Market Dynamics
Flow Meter Market Driver
- The flow meter market is expected to be driven in part by a recovery in these key industries and their increasing demand for high-performance flow meter. The oil and gas and water and wastewater industries are the primary end-use industries for flow meter, driving the market. Flow meter are used in wastewater treatment to quantify the flow of water through the system. These applications necessitate flow meter with increased accuracy, control, reliability, performance, and compatibility with various monitoring technologies. The growing global emphasis on water and wastewater treatment is increasing the use of flow meter. As a result, the demand for flow meter in water and wastewater treatment plants is increasing.
Flow Meter Market Restrain
- The cost of flow meter is determined by their operating range and construction material (MoC). Metal, polymers, and alloys, among other materials, are used to make flow meter. The fluctuating prices of these materials make it difficult for OEMs to obtain high-quality raw materials and manage delivery schedules imposed by suppliers, which raises the cost of flow meter even further. The global supply chain was disrupted as a result of the COVID-19 pandemic, affecting raw material prices. This makes meeting commitments difficult and results in significant losses for manufacturers.
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Flow Meter Market Competitive Landscape
The market leaders include Siemens AG, Honeywell International Inc., Yokogawa Electric Corporation, Emerson Electric Co., Keyence Corporation, and others. The market is highly fragmented and competitive because there is no dominant player. As a result, market concentration is low. Strategic collaborations have also been important in gaining access to the expanding market. For example, Badger Meter partnered with Westech Industrial in January 2021 to make Westech the authorised distributor of Badger's industrial metering technologies throughout Canada.
Flow Meter Market Top Company Profiles
- Emerson Electric Co.
- Honeywell International Inc.
- Siemens AG
- ABB Ltd.
- Yokogawa Electric Corporation
- KROHNE Messtechnik GmbH
- Endress+Hauser AG
- Schneider Electric SE
- Azbil Corporation
- Badger Meter, Inc.
- Brooks Instrument LLC
- Danfoss A/S
- General Electric Company
- Hitachi, Ltd.
- Omega Engineering, Inc.(Arcline Investment Management)
- Sierra Instruments, Inc. (TASI Group)
- Teledyne Technologies Inc.
- Vogtlin Instruments GmbH (TASI Group)
- Weir Group plc
- TSI Incorporated
Flow Meter Market Recent Developments
- In January 2021, Analytical Technology, Inc., a privately held provider of water quality monitoring systems, has agreed to be acquired by Badger Meter, Inc. The company, headquartered in Pennsylvania, USA, was founded in 1992 and specializes in the design, manufacture, and distribution of water quality instruments based on electrochemical and optical sensors. This expansion will help Badger Meter, Inc. expand its product portfolio in the water and wastewater industries.
- In January 2021, KROHNE, a manufacturer of industrial process instrumentation in the United Kingdom, announced the supply of KROHNE OPTIMASS 6400 Coriolis mass flow meter for measuring purified water used in COVID-19 vaccine production processes. The meter will also serve as a master meter, against which all other production process flow meter will be validated.
Flow Meter Key Market Trends
- Flow meter technology has seen major trends such as digital signals for flow meters, multiple measurement formats, online diagnosis and troubleshooting, remote calibration and configuration, and smart sensors with online alerts. Technological advancements enabled the industry to develop appropriate solutions to complex operational problems through robust research and development. One of the market's revolutionary trends is the introduction of automated cleaning. This trend is primarily beneficial to industries such as water and wastewater management.
Flow Meter Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Flow Meter market analysis, Automation is being prioritized in manufacturing facilities in order to reduce lead times, unnecessary waste, and unplanned downtime. Rapid industrialization, rising living standards, a large population base, and low-cost labour in Asia Pacific have prompted companies to locate in the region and meet demand. Multiple emerging technologies, such as IoT, asset management, and advanced diagnostics, are also assisting in the formation of new user-supplier collaborations. Furthermore, both end-user and supplier strategies have benefited from advancements in networking and cloud platforms, as well as service offerings that include data and analytics.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.7 billion |
| Market size value in 2031 | USD 14.05 billion |
| Growth Rate | 6.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Flow Meter Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Flow Meter Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Flow Meter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Flow Meter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Flow Meter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Flow Meter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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