Overview and Scope
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.
Sizing and Forecast
The flow meter market size has grown strongly in recent years. It will grow from $8.69 billion in 2023 to $9.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to industrial automation, water and wastewater management, oil and gas exploration, globalization of trade, infrastructure development.
The flow meter market size is expected to see strong growth in the next few years. It will grow to $11.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to industry 4.0 integration, renewable energy growth, water conservation initiatives, healthcare sector demand, environmental monitoring. Major trends in the forecast period include digital transformation, wireless connectivity, ultrasonic flow meters, demand for coriolis flow meters, environmental regulations.
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Segmentation & Regional Insights
The flow meter market covered in this report is segmented –
1) By Type: Differential Pressure, Positive Displacement, Ultrasonic, Turbine, Magnetic, Coriolis, Vortex, Other Types
2) By Power Type: Electric, Solar, Battery Powered
3) By Pipe Size: 2 Inches, 4 Inches, 6 Inches, More Than 6 Inches
4) By End User: 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
North America was the largest region in the flow meter market in 2023. Europe and Asia-Pacific are expected to be the fastest-growing regions in the global flow meter market report during the forecast period. The regions covered in the flow meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the flow meter market report 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 Company, Hitachi High-Tech Corporation, HÖNTZSCH GMBH & CO. KG, Bronkhorst High-Tech BV, Sick AG, Omega Engineering Inc., Christian Bürkert GmbH & Co. KG, TSI Inc., Keyence Corporation, Sensirion AG, Badger Meter Inc., Schneider Electric SE, Thermal Instrument Co., Katronic Technologies Ltd., Flow Meter Group, Omni Flow Computers Inc., Henan Dafang Dingsheng Flow Instrument Co. Ltd., Flow-Tronic S.A., McCrometer Inc., Blue-White Industries Ltd., Dakota Instruments Inc., FTI Flow Technology Inc., KEM KÜPPERS ELEKTROMECHANIK GMBH, Max Machinery Inc., Parker Hannifin Corp., Seametrics Inc.
The flow meter market report table of contents includes:
1. Executive Summary
2. Flow Meter Market Characteristics
3. Flow Meter Market Trends And Strategies
4. Flow Meter Market – Macro Economic Scenario
5. Global Flow Meter Market Size and Growth
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31. Global Flow Meter Market Competitive Benchmarking
32. Global Flow Meter Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Flow Meter Market
34. Flow Meter Market Future Outlook and Potential Analysis
35. Appendix
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