Flow Meter Market – Global Market Share, Trends, Analysis and Forecasts, 2020 – 2030
The Global Flow Meters Market size was estimated to be US$ 7.4 billion in 2019. Expanding building and construction industry, proliferation of Industrial Internet of Things, and rising demand for smart process control equipment are the key factors driving the growth of the global flow meter market. Flow meters are used to measure flow of liquids or gases across industrial, residential and commercial applications. Expanding population and rapid urbanization has contributed towards the growth of building and construction industry, thereby pushing the boundaries of energy and utility infrastructure. Water & wastewater management and power generation facilities require robust and accurate control elements for efficient process operation. Emergence of Internet of Things (IoT) has led the adoption of advanced technology in the flow meters. Integration of smart metering, digital readouts, and wireless monitoring and control with flow meters has fueled the growth of the global flow meter market. Expansion of oil and gas industry has created strong demand for precise flow meters owing to critical process requirements. The manufacturers of flow meters are focusing towards development of advanced flow meters to meet the increasing demand from process and discrete industries, which is expected to drive the growth of the global flow meter market. However, prevalence of COVID-19 has led to the disruption in manufacturing processes across the globe and is anticipated to impact the demand for flow meters in coming years. The process and discrete industries are expected to regain their strength with government initiatives to boost economy and is expected to revitalize the demand for flow meters.
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North America contributed the largest share to the global flow meter market in 2019 and is expected to witness prominent growth during the forecast period. Presence of leading flow meter manufacturers, expanding oil & gas industry and increased demand for flow meters from water & waste water management industry are the key factors contributing towards the growth of the North America flow meter market. Asia Pacific is expected to be the fastest growing region during the forecast period owing to expanding manufacturing industry across leading counties. Rapid expansion of population across major countries has fueled the growth and expansion of building & construction and energy & utility industry in Asian countries. Rising demand for wastewater treatment infrastructure across major economies is anticipated to drive the growth of the Asia Pacific flow meter market during the forecast period.
The global flow meter market is segmented based on type, end use industry, and geography. Based on type, the global flow meter market is segmented into differential pressure (DP), positive displacement (PD), magnetic, ultrasonic, Coriolis, turbine, vortex, and others. Based on end use industry, the global flow meter market is segmented into aerospace & defense, chemical, pharmaceuticals, food & beverages, energy & utility, oil & gas, paper & pulp, water & wastewater management, and others. Based on geography, the global flow meter market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on flow meter. Further, market share of prominent companies in the global flow meter market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the flow meter companies.
The global flow meter market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the flow meter business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global flow meter market.
Major players active in the global flow meter market include ABB, Azbil Corporation, Badger Meter, Inc., Emerson Electric Co., Hitachi High-Tech Corporation, Honeywell International Inc., HÖNTZSCH GMBH & CO. KG, KROHNE Messtechnik GmbH, Schneider Electric, Siemens, Tianjin Yihuan Automatic Instrument Technology Co., Ltd., TOKYO KEISO CO.,LTD., Toshiba, Xi’an Gavin Electronic Technology Co., Ltd, and Yokogawa Electric Corporation.