Dublin, June 22, 2023 (GLOBE NEWSWIRE) -- The "Flow Meter Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the flow meter market.
The global flow meter market is expected to grow from $8.23 billion in 2022 to $8.69 billion in 2023 at a compound annual growth rate (CAGR) of 5.59%. The flow meter market is expected to reach $11.12 billion in 2027 at a CAGR of 6.35%.
Major players in the flow meter market are Endress+Hausar AG, Honeywell International Inc., Krohne Messtechnik Gmbh, Siemens AG, Yokogawa Electric Corporation, ABB Ltd., Emerson Electric Co., Azbil Corporation, em-tec GmbH, General Electric, Hitachi High-Tech Corporation, HONTZSCH GMBH & CO. KG, Bronkhorst High-Tech BV, Sick AG, Omega Engineering Inc., Christian Burkert GmbH & Co. KG, TSI Inc, Keyence Corporation, Sensirion AG, Badger Meter, Inc, and Schneider Electric.
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A flow meter refers to a device used to measure the flow rate or quantity of a liquid, gas, or vapor that passes through it. Flow meters are critical tools for controlling and monitoring the flow of fluids in industrial and commercial applications, as they allow operators to adjust flow rates to optimize performance, reduce waste, and ensure safety.
The main types of flow meters are differential pressure, positive displacement, ultrasonic (spool pieces, clamp-on, insertion), turbine, magnetic (in-line, insertion, low flow), coriolis, vortex, and other types. Differential pressure (DP) flow meters measure fluid flow rate by creating a pressure drop across a constriction in the flow path and are used in industrial processes and HVAC systems to monitor flow rates. They are powered by electricity, solar energy, and batteries and are available in a variety of pipe sizes, including 2 inches, 4 inches, 6 inches, and more than 6 inches, and are used by various end-use industries, such as water and wastewater, refining and petrochemicals, oil and gas, chemicals, power generation, pulp and paper, food and beverage, pharmaceuticals, metals and mining, and other end users.
Technological advancement is a key trend gaining popularity in the flow meter market. Major companies operating in the flow meter market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in May 2022, SONOTEC, a Germany-based technology company specializing in ultrasonic testing solutions, including flow meters, launched SONOFLOW CO.55, a high-accuracy clamp-on flow meter that uses ultrasonic technology to measure flow rates, and its clamp-on design enables easy installation and maintenance without requiring any interruptions to the flow system, eliminating any risk of contamination. These reusable, non-invasive sensors are suitable for implementation in both single-use and hybrid environments within the bioprocessing industry.
North America was the largest region in the flow meter market in 2022. Europe and Asia-Pacific are expected to be the fastest-growing regions in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the flow meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Growing oil and gas and wastewater industries are expected to propel the growth of the flow meter market. The oil and gas industry extracts, refines, and distributes oil and natural gas. In contrast, the wastewater industry treats and manages wastewater before it is discharged back into the environment to remove pollutants. Flow meters are widely used in both the oil and gas and wastewater industries to measure and monitor fluid flow rates in crude oil, natural gas, and other wastewater fluids in treatment plants and other facilities.
For instance, in 2022, According to the report published by the US Energy Information Administration (EIA), a US-based statistical agency, US gross withdrawals of oil and natural gas both rose, with oil production hitting 11.6 million barrels per day and natural gas production reaching 118.7 billion cubic feet per day in December 2021. Therefore, the growing oil & gas and wastewater industries is driving the growth of the flow meter market going forward.
The flow meter market consists of sales of flow sensors, transmitters, controllers and indicators. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 275 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $8.69 billion |
| Forecasted Market Value (USD) by 2027 | $11.12 billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Flow Meter Market Characteristics
3. Flow Meter Market Trends And Strategies
4. Flow Meter Market - Macro Economic Scenario
4.1. COVID-19 Impact On Flow Meter Market
4.2. Ukraine-Russia War Impact On Flow Meter Market
4.3. Impact Of High Inflation On Flow Meter Market
5. Flow Meter Market Size And Growth
5.1. Global Flow Meter Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Flow Meter Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Flow Meter Market Segmentation
6.1. Global Flow Meter Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Differential Pressure
- Positive Displacement
- Ultrasonic
- Turbine
- Magnetic
- Coriolis
- Vortex
- Other Types
6.2. Global Flow Meter Market, Segmentation By Power Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Electric
- Solar
- Battery Powered
6.3. Global Flow Meter Market, Segmentation By Pipe Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
2 Inches
4 Inches
6 Inches
- More Than 6 Inches
6.4. Global Flow Meter Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Water And Waste Water
- Refining And Petrochemical
- Oil And Gas
- Chemical
- Power Generation
- Pulp And Paper
- Food And Beverage
- Pharmaceutical
- Metals And Mining
- Other End Users
7. Flow Meter Market Regional And Country Analysis
7.1. Global Flow Meter Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Flow Meter Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/okn0by
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