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.
Full
Research Report On Global Flow Meter Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/flow-meters-market
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.
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More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/technology
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
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-flow-meters-market
www.grandviewresearch.com/press-release/global-flow-meters-market
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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Information: www.grandviewresearch.com
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