Fort Collins, Colorado, Oct. 20, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Flow Meter Market size was valued at USD 10.4 Billion in 2022 and is expected to reach USD 19.4 Billion by 2032 at a CAGR of 6.5%.
The global report offers a comprehensive market analysis and detailed insights at global and regional levels. Flow meters are widely utilized in the oil and gas sectors and water and wastewater industries. The rising demand for flow rate measurement is propelling the market. Their utilization in sectors such as power generation, pulp and paper production, and oil and gas is anticipated to drive demand in the future.
A flow meter is used to measure gas or liquid volume. It has various names, such as flow gauge and liquid meter. They have a variety of applications in different industries. As urbanization increases, so does the demand for flow meters, mainly in the oil and gas industries, followed by water and wastewater industries.
Increasing demand for fresh water in textile industries, rising oil extraction, and high production rates are leading to a surge in wastewater generation. Automated cleaning processes drive the Flow Meter market, particularly water and wastewater management. The Flow Meter market is globally used for maintaining error-free flow of chemical substances in heavy machinery and cooling machinery with wastewater.
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Segmentation Overview:
The global flow meter market has been segmented into power type, product, technology, sales, and end-use. Battery-powered segments dominate the market due to their ease of use, portability, and rechargeable features. Analog meters are the most popular flow meters in the market, thanks to their measurement precision and low initial cost.
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Flow Meter Market Report Highlights:
- The global flow meter market growth is anticipated at a CAGR of 6.5% by 2032.
- Technological advancements are expected to enhance the industry's efficiency and productivity, enabling businesses to optimize their operations and improve their bottom line.
- The North American market currently holds the largest market share and is the frontrunner in this industry. The United States is the top market player, followed by Canada and Mexico.
- Some prominent players in the flow meter market report include Emerson Electric Corporation, General Electric, Kronhe Messtechnik GmbH, Siemens, Badger Meter, Endres Hauser, and Yokogawa Electric.
Industry Trends and Insights:
- Badger Meter will showcase its flow measurement and monitoring solutions at WEFTEC 2023 in Chicago.
- Emerson Ventures has invested in First Resonance, a start-up changing manufacturing with its ION Factory Operating System.
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Flow Meter Market Segmentation:
- By Power type: Electric, Solar, Battery
- By Product: Analog, Digital
- By Technology: Coriolis Electromagnetic, Differential Pressure, Ultrasonic
- By End-user: Oil & Gas, Waste Water, Chemical
- By Sales Channel: Online, Offline
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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