The global water meter market was worth USD 22.86 million in 2023. The global market is predicted to reach USD 23.90 million in 2024 and USD 34.17 million by 2032 growing at a CAGR of 4.57% during the forecast period.
Water meters are devices used to help consumers understand the extent of water consumption. They have also made the billing method much easier by analyzing the amount of water consumed. The importance and use of water meters have increased in recent years thanks to the depletion of water resources. Because of the increasing awareness of installing water meters.
Earlier, with no or some water meters, it became difficult to trace and analyze the water consumption, and even the billing was a tedious process. Often, people end up paying far more than the value similar to their water consumption. Especially in places with water scarcity, people often end up consuming more water than the local water resources can renew. After the introduction of water meters, they have been extensively employed in the commercial, domestic, and industrial domains because of their extensive usage, with North America as a serious shareholder.
From a financial point of view, leaks in pumps or water pipes can cause huge wastage of water and also an enormous bill. Water meters help spot the leaks, so they'll be fixed as soon as possible. However, being employed by households to manage their water billing expenses, water meters are also widely demanded in commercial areas like hospitals, restaurants, etc., and industries, especially those that are employed in manufacturing. Moreover, in light of the continuing pandemic, water consumption because of sanitation is at its highest, and it's become even more important to observe overwater consumption.
Currently, the technology development and adoption of advanced technologies, like IoT and analytics, within the water sector is lagging in comparison to other utilities like electricity and gas. Moreover, systems of water meters in many countries are running outdated infrastructure, and technologies that utilities depend on to manage water are very old, which has resulted in increased non-revenue water. While there's rising awareness and demand for water meters, the technological aspects haven’t held to the demand, obviously.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
4.57% |
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Segments Covered |
By Structure Type, Application, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Diehl Stiftung & Co. KG,Azbil Kimmon Co., Ltd,Badger Meter, Inc,Elster Group GmbH,Neptune Technology Group Inc,G. Gioanola S.R.L,Aichi Tokei Denki Co., Ltd,Apator SA,Arad Group,Fedrel Meter,B Meter,Itron Inc,Master Meter, Inc,Maddalena Spa,Kamstrup A/S,Sensus (Xylem Inc.),ZENNER International GmbH & Co. KG,Mueller Systems LLC,Plata Meter Co., Ltd and Others. |
The market of water meters is split into Multijet, Rotary piston, Woltman, ultrasonic, and electromagnetic. Electromagnetic is the most popular type compared to others.
The global water meter market is split into domestic, commercial, and industrial. The domestic use of water meters has been on the lead since 2018, and it's predicted that this pattern will still repeat because of the growing awareness of water meters amongst households.
In terms of geography, the global water meters market is segmented into North America, Asia Pacific, Europe, South America, the Middle East, and Africa. Of these, the Asian Pacific countries are predicted to guide the worldwide market. Due to the improving infrastructure within the region and the powerful presence of several meter manufacturers, the Asia Pacific regional market is expected to stay at the forefront.
McWane India recently launched a replacement product called Aquamesh, which uses IoT-enabled technology to monitor, measure, and control water utilization.
Recently, Xylem Inc. acquired Sensus USA Inc., making it one of the key market players in the smart meter market.
Southwest Water just confirmed its merger, during which the institutional investors have acquired the corporation.
By Structure Type
By Application
By Region
Frequently Asked Questions
The global water meter market is primarily driven by increasing urbanization, rising demand for water conservation solutions, stringent government regulations regarding water usage, and the need for accurate billing and revenue management by water utilities.
Smart water meters offer features such as real-time monitoring, leak detection, and remote data collection, leading to efficient water management and reduced non-revenue water losses. This technology is increasingly adopted worldwide, especially in developed regions, to modernize water infrastructure and improve operational efficiency.
Residential water meters are expected to witness significant growth globally, driven by increasing awareness among consumers regarding water conservation, regulatory mandates for metering individual consumption, and the adoption of smart metering solutions for improved leak detection and billing accuracy.
Government regulations mandating water meter installations, meter accuracy standards, and conservation measures significantly influence market dynamics. For instance, initiatives promoting water conservation and efficient water management drive the adoption of advanced metering technologies worldwide.
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