The global flow meters market size is expected to reach US$ 12.5 billion by 2027 and is expected to grow at an impressive double-digit rate of 5.6% from 2020 to 2027.
The study includes drivers and restraints of this market. The study provides an analysis of the global flow meters Market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2020 is considered as the base year.
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.
Why should you invest in this report?
If you are aiming to enter the global flow meters Market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for flow meters are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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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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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.
Major Market Segments Covered:
- Emerson 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
- Yokogawa Electric Corporation
Regional Analysis:
The geographical analysis of the global flow meters Market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global flow meters Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global flow meters Market in 2027?
- What is the expected CAGR for the flow meters Market between 2020 and 2027?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global flow meters Market?
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