Flow Meters Market was valued at USD 7.71 Billion in 2018 and is predicted to reach USD 12.68 Billion by 2026, at the CAGR of 6.41%.
Flow Meters Market
Flow meters market is driven by a factor such as rising penetration of IoT is escalating the demand for intelligent flow rate measurement solutions. Rapid urbanization and need for better water & wastewater management are augmenting global flow meters market growth. Also, technological advancements are improving and enhancing the accuracy and reliability of flow meters, is working in favour of the flow meters market.
Based on type, the ultrasonic flow meter is the rapidly growing segment due to its high reliability and low maintenance. Similarly, based on end-user segmentation, oil & gas will hold the largest market share that has been because of necessity and application of flow-meters in oil & gas industry. Manufacturers of flow meters undertaking supply agreement with end-user and making their position secure while minimizing supply chain gap in flow meters market are trending in the flow meters market.
The Asia Pacific is dominating the flow meters market and will continue its dominance throughout the forecast period. Growing economies like India and China are making huge investments in refining, chemicals, energy & power as well as industrial infrastructure activities that in turn has significantly contributed to enhancing the global demand for flow meters thereby boosting the overall market growth.
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Scope of the Flow Meters Market Market
Flow Meters Market, by Type:
• Ultrasonic
• Positive Displacement
• Turbine
• Magnetic
• Differential Pressure
• Coriolis
• Vortex
• Others (thermal and multiphase flow meters)
Flow Meters Market, by End-Use Industry:
• Oil & Gas
• Chemicals
• Power Generation
• Pulp & Paper
• Water & Waste Water
• Refining & Petrochemicals
• Metals & Mining
Flow Meters Market, by Geography:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating in the Flow Meters Market:
• Honeywell (US)
• Schneider Electric (France)
• Endress Hauser (Switzerland)
• Siemens (Germany)
• ABB Ltd. (Switzerland)
• Yokogawa Electric (Japan)
• Azbil (Japan)
• Badger Meter (US)
• Krohne Messtechnik (Germany)
• Emerson Electric Co. (US)
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