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

Flow Meter Market size was valued at USD 7.7 billion in 2019 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.