Flow Meter Market Size, Share, Growth Analysis, By Type(Differential Pressure, Positive Displacement, Magnetic (In-line, Insertion), By End-user Industry(Water & Waste Water, Oil & Gas, Chemicals, Power Generation), By Region - Industry Forecast 2024-2031

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).