The flow meter market share is expected to grow at a CAGR of 6.4% between 2022 and 2027. The benefits associated with flow meters and the gradual recovery in upstream activities provide a promising ground for the flow meter market.
Technavio’s analysis on “Flow Meter Market by End-user, Type, and Geography - Forecast and Analysis 2023-2027” reveals that the growth of the flow meter market is the benefits associated with flow meters in different end-user industries. The use of flow meters provides benefits besides measurements, such as in helping to control the velocity of fluids and their use. It can also save water from being wasted by detecting leakages in pipes.
The flow meter market is segmented by end-user (industrial, commercial, and residential), type (ultrasonic, magnetic, differential pressure, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
The rising investments and the commencement of new projects in the water and wastewater and oil and gas industries will increase the industrial segment growth during the forecast period. Factors such as the ongoing exploration of new oil and gas fields and refinery units and an increase in onshore and offshore production activities will also drive the growth of the segment.
The fluctuations in the prices of crude oil have become a major challenge to the adoption of the flow meter. The rapid fall in crude oil prices triggered a massive withdrawal of investments, with the upstream sector bearing the major brunt. The profitability of companies fell drastically, with many registering significant losses.
Some of the major flow meter market vendors are ABB Ltd., Apator SA, Azbil Corp., Badger Meter Inc., Electronet Equipments Pvt. Ltd., Emerson Electric Co., Endress Hauser Group Services AG, Forbes Marshall Pvt. Ltd, General Electric Co., KROHNE Messtechnik GmbH, Landis+Gyr AG, Max Machinery Inc., Omega Engineering Inc., Osaki Electric Co. Ltd., SICK AG, Toshiba Corp., Yokogawa Electric Corp., Honeywell International Inc., Schneider Electric SE, Siemens AG.
global.abb- The company offers cloud data flow meters such as process industry meters and water and wastewater meters.
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Precise market size estimation during the forecast period 2023-2027.
CAGR of the flow meter market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the flow meter market share.
Prediction of the upcoming trends, drivers, and factors that challenge the flow meter market.
Flow meter market growth across APAC, North America, Europe, Middle East and Africa, and South America.
