Flow Meters Market Size to Hit Around US$ 12.5 Bn by 2027

According to Precedence Research, the global flow meters market size is projected to hit around US$ 12.5 billion by 2027 with a CAGR of 5.6% from 2020 to 2027

OTTAWA, Feb. 25, 2021 (GLOBE NEWSWIRE) -- The global flow meters market size accounted at US$ 7.9 billion in 2019, according to new report study.

A flow meter is an instrument that is used to measure the nonlinear, linear, volumetric or mass flow of a gas or liquid. Flow meters are also known by many other names, such as flow indicator, flow gauge, flow rate sensor, liquid meter, etc. depending on the particular industry. Besides this, they all are used to measure the flow. Open channels, like streams or rivers can also be measured using flow meters.

Flow meter sensor work in various ways but have same goal to provide repeated and most accurate flow measurement for specific applications. Some of the commonly used flow meters in industries include obstruction type, inferential or turbine type, electromagnetic, positive displacement flow meter, anemometer, ultrasonic, coriolis, and vortex.

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Growth Factors

The flow meter market is a matured market; however still in its development phase and expected to offer prominent growth opportunities in the coming years. The implementation of flow meters is highly preferred in the process industries. In addition, the governments of different regions have mandated the use of flow meters owing to numerous advantages associated with them. Oil & gas, water and wastewater, power generation, chemical, and pulp & paper are some of the major consumers of flow meter. Thus, factors such as rise in industrial output, increase in the number of initiatives to construct safe water management infrastructure, and surge in energy needs primarily boost the demand for flow meters.

Report Highlights

  • In 2019, Europe led the global market in terms of revenue followed by North America due to rising adoption of flow meters in the power generation sector
  • The Asia Pacific encountered as the most lucrative region with a growth rate of around 7% during the analysis period due to continuous development in the water & wastewater industry
  • Based on product, magnetic segment led the global market in the year 2019 due to its increased application in numerous industries.
  • Coriolis and ultrasonic segments anticipated to register the highest growth over the analysis period owing to their advanced features that allow the integration of IoT
  • Oil & gas expected to witness a prominent growth rate over the analysis period owing to development of shale gas reserves and other prominent developments in the sector
  • Water & wastewater application captured nearly 23% of the value share in 2019 and expected to register a CAGR exceeding 6% during the forecast period

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Regional Snapshots

Europe led the global flow meters market in terms of revenue share, followed by the North America. Presence of prominent market players in the region such as Diehl Metering Germany, Endress+Hausar AG, ABB, and KROHNE Messtechnik accounted for the prominent growth of the region. Furthermore, rising government investment on the water treatment plants again spur the demand for flow meters in the region. Rising population and introduction of new and advanced technologies have prominently boosted the growth of power generation, water supply, usage of chemicals, and water treatment and management system, thereby fuelling the growth of the flow meters market.

On the other hand, the Asia Pacific encountered the fastest growth over the analysis period owing to rising demand for reliable and high-quality measurement tools from various end-use industries. Further, the region is a global leader in the chemical production and import & export activity. This significantly triggers the demand for flow meters in various industries as chemicals are widely used in industrial applications. Increasing demand for oil & gas along with water supply management and treatment plants in the region accounted for the other most prominent factor to propel the growth of flow meters in the region.

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Key Players & Strategies

Prominent market players in the global flow meters market have adopted merger & acquisition strategy to expand their regional presence. Further, these companies also focus prominently on the advanced and new product development to gain a competitive edge by offering differentiated product in the market. In the wake of same, the market players invest notably in the research & development sector. Furthermore, rising adoption of intelligent and advanced flow meters in the water & wastewater, chemicals, and oil & gas industry offer lucrative opportunity to the market players to uplift their market position by meeting their requirement.

Some of the key players operating in the market areEmerson Electric Co., ABB Ltd., em-tec GmbH, General Electric, Endress+Hauser Management AG, Hitachi, Ltd., Höntzsch GmbH, Honeywell International, Inc., KROHNE Messtechnik GmbH, VSE Volumentechnik GmbH, Siemens, and Yokogawa Electric Corporation among others.

By Product

  • Positive Displacement (PD)
  • Differential Pressure (DP)
  • Vortex
  • Ultrasonic
  • Magnetic
    • Wireless
    • Wired
  • Turbine
  • Coriolis
  • Others

By Application

  • Oil & Gas
  • Water & Wastewater
  • Power Generation
  • Chemicals
  • Food & Beverage
  • Pulp & Paper
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

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