Flow Meter Market Development Status from 2021 to 2028

Flow Meter Industry Overview

The global flow meter market size was valued at USD 8.29 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028.

 

The market shipment size was valued at 53,78,749 units in 2020. The increasing demand for flow rate measurement in O&G management applications across the globe is expected to drive the growth of the market over the forecast period. The adoption of measurement technologies and instruments would also gain traction in other sectors, such as water and wastewater, power generation, and pulp and paper over the forecast period. The adoption of products would be particularly significant in the O&G, and chemical and petroleum refinery sectors owing to the recent detection of shale gas reserves in North America, Europe, and the Asia Pacific.

 

Gather more insights about the market drivers, restrains and growth of the Global Flow Meter Market

 

The demand for intelligent systems is expected to increase over the foreseeable period as the integration of IoThas led to the introduction of smart measurement solutions. The demand for Coriolis flowmeter is estimated to increase on account of its enhanced smart capabilities to measure the rate more accurately. The players in the market are mainly targeting the O&G sector and investing aggressively to offer innovative products and solutions to measure the flow rate of liquids, gases, and vapors. Additionally, custody transfer in the oil and gas sector is one of the key applications creating lucrative opportunities for ultrasonic and Coriolis flowmeters.

 

Advancements in technologies such as wireless monitoring and control, advanced sensors, and digital readouts are expected to drive the growth of the market over the forecast period. Manufacturers of the product are increasingly adopting the Internet of Things (IoT) sensors for smart metering solutions. The advanced approach of IoT enables automatic meter reading, which collects data automatically and remotely. Owing to such technological developments in products, the market is expected to grow at a significant rate from 2021 to 2028. However, the calibration of the product is a time-consuming process, which is expected to pose a challenge for market growth.

 

Rapid urbanization across developing countries in the Asia Pacific drives the need for adequate water and wastewater management and power generation. As a result, the demand for the product in water and wastewater application is expected to be high in the region. However, labor skill issues regarding operational processes of smart systems along with high initial costs associated with these advanced products are a few factors that could hamper the growth of the flow meter market. Similarly, the lack of adequate calibration facilities in the MEA region and the political instability in the region are factors affecting the growth of the regional market.

 

In the wake of the recent COVID-19 outbreak, there has been a significant disturbance in most industries across the globe. Industries such as oil and gas, chemicals, metals and mining, pulp and paper, and food and beverages globally have been adversely impacted in pandemic due to the disruption of the supply chain, closedown of plants, and a subsequent decline in demand for products offered by these industries. Similarly, the outbreak in its initial phase significantly impacted the overall market as these were less adopted by the abovementioned industries for the short term.

 

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Flow Meter Market Segmentation

Grand View Research has segmented the global flow meter market based on product, application, power type, pipe size, and region:

Flow Meter Product Outlook (Shipment, Units; Revenue, USD Million, 2017 – 2028)

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

Flow Meter Application Outlook (Volume, Shipment Units; Revenue, USD Million, 2017 – 2028)

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

Flow Meter Power Type Outlook (Volume, Shipment Units; Revenue, USD Million, 2017 – 2028)

• Electric
• Solar
• Battery Powered

Flow Meter Pipe Size Outlook (Volume, Shipment Units; Revenue, USD Million, 2017 – 2028)

• 2 inches
• 4 inches
• 6 inches
• More than 6 inches

Flow Meter Regional Outlook (Volume, Shipment Units; Revenue, USD Million, 2017 – 2028)

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

 

Market Share Insights

• December 2017: Hitachi High-Tech Corporation entered into a strategic partnership agreement with Flutura Business Solutions Pvt. Ltd. (U.S.), an Industrial IoT company.

 

Key Companies profiled:

Some of the prominent players operating in the global flow meter market are:

• ABB Ltd.
• Emerson Electric Corporation
• em-tec GmbH
• Endress+Hausar AG
• General Electric
• Hitachi High-Tech Corporation
• Honeywell International Inc.
• HÖNTZSCH GMBH & CO. KG
• Krohne Messtechnik Gmbh
• Siemens
• Yokogawa Electric Corporation

 

Order a free sample PDF of the Flow Meter Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.