Flow Meters Market

Global Flow Meters Market Size (2024 to 2029)

The Global Flow Meters Market size was around USD 11 billion by revenue, at the end of 2023 and is anticipated to grow at a CAGR of 8.45% to reach USD 18 billion by 2029.

A flowmeter is an essential device that measures the linear, non-linear, volumetric, or mass flow rate of a liquid gas or a combination of both. Fluid features, flow profile, flow range, and the requirement for correct measurements are the major factors for finding the correct flow meter for a specific application. There are different kinds of flow meters present in the market depending upon the accuracy needed and their application in different end-use businesses. Kinds of flow meters involve differential pressure, positive displacement, turbine, magnetic, vortex, and others. The overall accuracy of flow meters is also dependent on the applications. The above-mentioned flow meters are separated on the basis of consideration of the circumstances of the application. The impact of temperature, pressure, fluid, and dynamic controls may potentially change the measurement being taken. The flowmeter market is operating in its expansion phase and it is estimated to explore major development opportunities during the foreseen period. 

Market Drivers and Restraints

The employment of the flow meter is very favorable in the process of business. Also, governments from different regions are making the employment of flow meters compulsory owing to different benefits related to them. Water and wastewater, oil & gas, chemical, power generation, and pulp & paper are some of the key end-users. Hence, factors like a rise in the number of initiatives to build safe water management infrastructure, an increase in industrial results, and a rise in energy requirements mainly fuel the call for flow meters. 

The call for intelligent flow meters is estimated to escalate over the foreseeable period as the integration of IoT has resulted in the introduction of smart flow rate measurement outputs. The call for Coriolis flowmeters is expected to escalate on account of its improved smart capabilities to calculate the flow rate more precisely. The players in the global flow meters market are majorly targeting the oil and gas segment and investing highly to provide innovative products and solutions to calculate the flow rate of gases, liquids, and vapors. In addition, custody transfer in the oil and gas sector is among the major applications creating high-growth opportunities for ultrasonic and Coriolis flowmeters. Improvements in advanced technologies like wireless monitoring and control, sensors, and digital readouts are determined to accelerate the expansion of the global flow meters market in the outlook period. Makers of flow meters are implementing the Internet of Things (IoT) sensors for smart metering. The developed approach of IoT allows automatic meter reading that collects data automatically and remotely. Due to such technological advancements in products, the market is estimated to rise at a high rate from 2020 to 2025.

REPORT COVERAGE

DETAILED SEGMENTATION OF THE GLOBAL FLOW METERS MARKET INCLUDED IN THIS REPORT

This research report on the global flow meters market has been segmented and sub-segmented based on type, end-use, industry, and region.

Global Flow Meters Market By Type

• Differential Pressure
• Positive Displacement
• Magnetic
• Ultrasonic
• Coriolis
• Turbine
• Vortex

Some other types of flow meters include Multiphase and Thermal flow meters. Of the above-mentioned types the ultrasonic flow meters sector the fastest-growing in the flow meters market due to their high reliability and low maintenance costs. The high accuracy of the ultrasonic flow meters makes it perfect for the custody transfer of petroleum and natural gas.

Global Flow Meters Market By End-Use Industry

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

The booming oil and gas industry made it the fastest-growing sector of the end-user industry in the global flow meters market.

Global Flow Meters Market By Region

• North America Flow Meters Industry includes the US and Canada.
• Europe Flow Meters Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic, & Rest of Europe.
• Asia Pacific Flow Meters Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore, & Rest of APAC.
• Latin America Flow Meters Industry includes Brazil, Mexico, Argentina, Chile, & Rest of LATAM.
• Middle East & Africa Flow Meters Industry includes KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, & rest of MEA.

The Asia Pacific is considered the most substantial market for flow meters and is considered to continue its dominion in the worldwide market by 2025.

It is also determined as a rapidly developing area between 2020 and 2025. Growing economies like China and India are making funds in the water & wastewater, energy and power, chemicals, and industrial infrastructure activities that have contributed highly to the expansion of the flowmeter market in the Asia Pacific. Most of the major players working in the flowmeter market have their production capacity in this region since the production price in this region is lesser compared to other regions. With emerging economies like China, India, and other nations in the Asia Pacific, there is rapid industrialization, where local players and providers of flow rate measurement solutions are forming collaborations with worldwide companies to cash in on opportunities promoting the global and regional markets. Regional businesses are also improving their consumer engagement activities and improving their portfolio of products and services.

KEY MARKET PLAYERS

The major key players in the Global Flow Meters Market are Honeywell International Ltd.(US), Siemens AG(Germany), Emerson Electric Co. (US), Hitachi Ltd., ABB Ltd. (Switzerland), Krohne Messtechnik GmbH, Endress+Hauser AG, DICSA, RIELS INSTRUMENTS S.r.l, Brooks Instruments, KOBOLD Instr. Pvt. Ltd, Elettrotec, Yokogawa Electric Corporation(Japan), and others.