Flow Meter Industry
The global flow meter market size is estimated to reach USD 14.66 billion by 2030, according to the new report conducted by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.5% from 2024 to 2030. The penetration of IoT has helped the evolution of smart flow rate measurement solutions, leading to an increased demand for intelligent flow meters. The adoption of flow meters is expected to increase as rapid urbanization triggers the need for better water and wastewater management.
The advancements in technology have made ultrasonic and Coriolis flow meters more reliable and accurate than their counterparts. The integration of IoT in flow rate measurement solutions has helped transform Coriolis meters into intelligent flow meters. Hence, the adoption of these meters is expected to grow significantly over the forecast period. Besides, extensive adoption of Coriolis flow meters by the oil and gas, chemical, and refinery sectors is projected to drive the growth of the overall product segment over the forecast period.
The water and wastewater segment is expected to witness robust growth over the forecast period owing to rapid urbanization in various parts of the world, particularly in Asia Pacific, South America, and Africa. These regions have aggressively started to adopt efficient solutions for the treatment, control, monitoring, and regulation of water supplies and management of wastewater, thereby driving the demand for flow rate measurement solutions and instruments.
Europe dominated the global market in 2020 as the region is home to several manufacturers and product innovators of flow rate measurement solutions and services, including flow meters. However, APAC is expected to witness the highest growth rate over the forecast period owing to the rapid urbanization underway in APAC countries, which would subsequently trigger the need for adequate power generation and efficient water and wastewater management. The market in India is likely to witness a significant boost over the forecast period on account of the growing need for expanding fuel refining capacity in the country.
Gather more insights about the market drivers, restrains and growth of the Global Flow Meter market
Flow Meter Market Segments Highlights:
- The market for the flow meter is anticipated to witness substantial growth during the forecast period due to the integration of IoT in flow meters, which has led to the introduction of smart flow rate measurement solutions
- Custody transfer application in the oil and gas sector is one of the key applications creating lucrative opportunities for ultrasonic and Coriolis flow meters
- The water and wastewater segment is anticipated to witness substantial growth during the forecast period owing to the increasing initiatives taken by several governments for water and wastewater management
- The Asia Pacific is expected to expand at the fastest CAGR over the forecast period owing to substantial demand and adoption of flow meters in various application sectors, particularly in China, India, and Southeast Asian countries
- Businesses in Middle Eastern countries such as Iran, Iraq, and Syria are highly vulnerable to political instability. Businesses in other Middle Eastern countries such as UAE, Saudi Arabia, Oman, and Qatar focus on expanding their presence by establishing friendly relations with eminent manufacturers in Western countries
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- The global power generation market is anticipated to grow significantly over the forecast period. Power generation is carried out by the means of conventional/non-renewable and renewable sources of energy.
- The global shale gas market size was valued at USD 68.3 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 8.5% from 2020 to 2027.
Segments Covered in the Report
Grand View Research has segmented the global flow meter market based on product, application, power type, pipe size, and region:
Flow Meter Product Outlook (Revenue, USD Billion, 2017 - 2030)
- Differential Pressure (DP)
- Positive Displacement (PD)
- Magnetic
- Ultrasonic
- Coriolis
- Turbine
- Vortex
- Others
Flow Meter Power Type Outlook (Revenue, USD Billion, 2017 - 2030)
- Electric
- Solar
- Battery Powered
Flow Meter Application Outlook (Revenue, USD Billion, 2017 - 2030)
- Water & Wastewater
- Oil & Gas
- Chemicals
- Power Generation
- Pulp & Paper
- Food & Beverage
- Others
Flow Meter Pipe Size Outlook (Revenue, USD Billion, 2017 - 2030)
- 2 inches
- 4 inches
- 6 inches
- More than 6 inches
Flow Meter Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa (MEA)
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