Flow Meters Market
Flow Meters Market Forecasts to 2028 – Global Analysis By Type (Electromagnetic Flowmeters, Orifice Meter), Product (Analog Flow Meter, Smart Flow Meter), Transmission Method (Wireless, Wired ) and By Geography
Years Covered |
2020-2028 |
Estimated Year Value (2021) |
US $9.22 BN |
Projected Year Value (2028) |
US $17.30 BN |
CAGR (2021 - 2028) |
9.4% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
Asia Pacific |
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Flow Meters Market is accounted for $9.22 billion in 2021 and is expected to reach $17.30 billion by 2028 growing at a CAGR of 9.4% during the forecast period. A device or an instrument used to measure the flow rate of liquids and gases is known as a flow meter. It is also known as a flow indicator, flow gauge, and liquid meter depending on the industry which uses it. A variety of flow meters are available for different applications.
Market Dynamics:
Driver:
Worldwide Emphasis on Growing Process Automation
Flow meters have a large number of applications in the automotive, construction, oil & gas, manufacturing, chemical, medical, and water & wastewater industries. The market is predicted to be partly driven by an improvement in these key industries and their rising need for high-performance flow meters. Rising demand from emerging markets such as India and China have already driven overall demand for flow meters. Furthermore, increasing industrialization has increased the focus on automation and customization. This has also led to increased demand for intelligent monitoring and controlling tools & technologies, including flow meters. Governments of several countries have passed laws and regulations for industries to treat the water before discharging it into water bodies. Flow meters are being used in wastewater treatment by quantifying the water that flows through the system.
Restraint:
Economic Slowdown and Decreasing Oil Prices
Most countries, especially the US, Italy, Spain, the UK, France, and Germany, are severely impacted by the COVID-19 pandemic. The suspension of operations in several manufacturing sectors has resulted in a decline in the GDP of these countries. Owing to the COVID-19 pandemic, the demand from the industrial sector had declined sharply. This impact was further intensified with the declining oil & gas prices and the massive gap between supply and demand.
Opportunity:
Technological Advancement
Advancements in technologies such as wireless monitoring and control, advanced sensors, and digital readouts are expected to create opportunities for the market over the forecast period. Manufacturers of the product are increasingly adopting the Internet of Things (IoT). The advanced approach of IoT enables automatic meter reading, which collects data automatically and remotely. Owing to such technological developments in products, the market is expected to grow at a significant rate.
Threat:
Raw Material Price Fluctuations
The prices of raw materials used in flow meters are fluctuating at unprecedented levels. High cost associated with coriolis and magnetic flow meters is one of the factors that threaten the market growth. And also, fluctuating prices of these materials makes it challenging for OEMs to procure high-quality raw materials and manage delivery schedules imposed by suppliers, which further increases the cost of the market.
Oil and gas segment is expected to be the largest during the forecast period
Owing to the rapid growth of the industry, the development of shale gas reserves is also expected to boost the demand for the product in the oil and gas (O&G) and chemical and petroleum refinement sectors. Flow meters are an operative solution to measure the rate of upstream and downstream processes, custody transfer, and liquid hydrocarbons within the O&G and chemical industries.
The magnetic flow meters segment is expected to have the highest CAGR during the forecast period
Magnetic flow meters are also called mag meters. These flow meters follow the principle of electromagnetic induction to determine the flow of liquid in a pipe. These flow meters produce signals that are linear with the flow of the fluid. Thus, the turndown rate is low for this flow meter, and it offers greater accuracy than other types of flow meters. It is also unaffected by any change in temperature, density, viscosity, concentration, and electrical conductivity. Magnetic flow meters are feasible for an application that includes rapidly changing media, pH jumps, and large amounts of solids or pulsating flow. Magnetic flow meters are preferably used for sanitary applications in water & wastewater and food & beverages industries. These flow meters are largely used in water & wastewater, metals & mining, chemical, and pulp & paper end-use industries.
Region with highest share:
The Asia Pacific is projected to hold the highest market share, owing to the rising investments in developing countries and manufacturing capacity additions across end-use industries, particularly water treatment and chemical processing. Investment in water & wastewater, energy and power, refining, chemicals, pulp & paper, and industrial infrastructure activities is increasing in developing economies such as China and India. This drives demand for measuring instruments, which has contributed significantly to the growth of the market in the Asia Pacific. China is the key market for flow meters in the Asia Pacific owing to its increasing industrialization and low-cost manufacturing technology. Most key players operating in the flow meters market have their production capacities in the Asia Pacific since the province’s production cost is lower than that in other provinces.
Region with highest CAGR:
Europe is projected to have the highest CAGR. The European market is in a mature stage and growing at a slower to moderate rate. Stringent regulations, growing investment in renewable energy, increasing support for sustainable development, and rising demand for bio-chemicals are a few factors owing to which the European countries are minimizing their dependency on the oil & gas industry. This, in turn, has resulted in a decline in refinery throughput. In Europe, the adoption of systems is high in the power generation segment, contributing to the regional market growth. The demand for magnetic, ultrasonic, and Coriolis flowmeters for O&G management is expected to upsurge in the province. Europe is home to several manufacturers and providers of flow rate measurement products and solutions, such as Endress+Hausar AG, Krohne Messtechnik GmbH, and ABB Ltd.
Key players in the market:
Some of the key players profiled in the Flow Meters Market include ABB Limited, Azbil Corporation, Badger Meter Inc, Emerson Electric Company, Endress + Hauser , General Electric, Honeywell International Inc, Krohne Messtechnik GmbH, Schneider Electric Se, Siemens AG, Yokogawa Electric Corporation, Tasi Group, Hitachi High-Tech Corporation.
Key developments:
In May 2019: Tasi Group has announced that it is buying Sierra Instruments, a global specialist in flow measurement instrumentation and testing. This is the second acquisition finalized by Tasi in just two months; Tasi Group has also bought Onicon, which designs and manufactures flowmeters and energy management systems.
In July 2019: REMSTAETTEN, announced plans to extend their China Water Utilities’ Platform, an industrial alliance founded to promote the benefits of ultrasonic water metering and NB-IoT technologies based on Ali Cloud. With the launch of the new Jiangxi Water Utility’s Technical Lab in Nanchang, Jiangxi Province, the partners will support Chinese utilities companies with leading-edge demonstrations of the “big data dividend” of ultrasonic water metering.
In March 2021: KROHNE launched the AF-E 400 ultra-compact electromagnetic flowmeter for utility and industrial automation applications to fit in applications with constrained installation space, such as welding equipment cooling lines, bending machines, and robots.
Types Covered:
• Electromagnetic Flowmeters
• Orifice Meter
• Magnetic Flow Meters
• Metal Tube Rotameter
• Turbine
• Positive Displacement
• Venturi Meter
• Differential Pressure
• Coriolis Mass Flow Meter
• Ultrasonic Flow Meters
• Optical Flow Meter
• Mechanical Flow Meter
• Vortex
• Other Types
Products Covered:
• Analog Flow Meter
• Smart Flow Meter
Transmission Methods Covered:
• Wireless
• Wired
Measured Mediums Covered:
• Liquid/Slurry Steam
• Gases
Applications Covered:
• Residential
• Commercial
• Industrial
End Users Covered:
• Chemicals
• Construction
• Food & Beverage
• Hydraulic Systems
• Marine
• Metals & Mining
• Oil & Gas
• Pharmaceutical & Biotech
• Power Generation
• Pulp & Paper
• Refining & Petrochemicals
• Water & Waste Water
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Flow Meters Market, By Type
5.1 Introduction
5.2 Electromagnetic Flowmeters
5.3 Orifice Meter
5.4 Magnetic Flow Meters
5.4.1 Low Flow Magnetic
5.4.2 In-Line Magnetic
5.4.3 Insertion Magnetic
5.5 Metal Tube Rotameter
5.6 Turbine
5.7 Positive Displacement
5.8 Venturi Meter
5.9 Differential Pressure
5.10 Coriolis Mass Flow Meter
5.11 Ultrasonic Flow Meters
5.11.1 Clamp-On Ultrasonic Flow Meters
5.11.2 Spool Pieces
5.11.3 Insertion Ultrasonic Flow Meters
5.12 Optical Flow Meter
5.13 Mechanical Flow Meter
5.14 Vortex
5.15 Other Types
5.15.1 Variable Area
5.15.2 Multiphase Flow Meters
5.15.3 Thermal Flow Meters
6 Global Flow Meters Market, By Product
6.1 Introduction
6.2 Analog Flow Meter
6.3 Smart Flow Meter
7 Global Flow Meters Market, By Transmission Method
7.1 Introduction
7.2 Wireless
7.3 Wired
8 Global Flow Meters Market, By Measured Medium
8.1 Introduction
8.2 Liquid/Slurry Steam
8.3 Gases
9 Global Flow Meters Market, By Application
9.1 Introduction
9.2 Residential
9.3 Commercial
9.4 Industrial
10 Global Flow Meters Market, By End User
10.1 Introduction
10.2 Chemicals
10.3 Construction
10.4 Food & Beverage
10.5 Hydraulic Systems
10.6 Marine
10.7 Metals & Mining
10.8 Oil & Gas
10.9 Pharmaceutical & Biotech
10.10 Power Generation
10.11 Pulp & Paper
10.12 Refining & Petrochemicals
10.13 Water & Waste Water
11 Global Flow Meters Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 ABB Limited
13.2 Azbil Corporation
13.3 Badger Meter Inc
13.4 Emerson Electric Company
13.5 Endress + Hauser
13.6 General Electric
13.7 Honeywell International Inc
13.8 Krohne Messtechnik GmbH
13.9 Schneider Electric Se
13.10 Siemens AG
13.11 Yokogawa Electric Corporation
13.12 Tasi Group
13.13 Hitachi High-Tech Corporation
List of Tables
1 Global Flow Meters Market Outlook, By Region (2020-2028) (US $MN)
2 Global Flow Meters Market Outlook, By Type (2020-2028) (US $MN)
3 Global Flow Meters Market Outlook, By Electromagnetic Flowmeters (2020-2028) (US $MN)
4 Global Flow Meters Market Outlook, By Orifice Meter (2020-2028) (US $MN)
5 Global Flow Meters Market Outlook, By Magnetic Flow Meters (2020-2028) (US $MN)
6 Global Flow Meters Market Outlook, By Low Flow Magnetic (2020-2028) (US $MN)
7 Global Flow Meters Market Outlook, By In-Line Magnetic (2020-2028) (US $MN)
8 Global Flow Meters Market Outlook, By Insertion Magnetic (2020-2028) (US $MN)
9 Global Flow Meters Market Outlook, By Metal Tube Rotameter (2020-2028) (US $MN)
10 Global Flow Meters Market Outlook, By Turbine (2020-2028) (US $MN)
11 Global Flow Meters Market Outlook, By Positive Displacement (2020-2028) (US $MN)
12 Global Flow Meters Market Outlook, By Venturi Meter (2020-2028) (US $MN)
13 Global Flow Meters Market Outlook, By Differential Pressure (2020-2028) (US $MN)
14 Global Flow Meters Market Outlook, By Coriolis Mass Flow Meter (2020-2028) (US $MN)
15 Global Flow Meters Market Outlook, By Ultrasonic Flow Meters (2020-2028) (US $MN)
16 Global Flow Meters Market Outlook, By Clamp-On Ultrasonic Flow Meters (2020-2028) (US $MN)
17 Global Flow Meters Market Outlook, By Spool Pieces (2020-2028) (US $MN)
18 Global Flow Meters Market Outlook, By Insertion Ultrasonic Flow Meters (2020-2028) (US $MN)
19 Global Flow Meters Market Outlook, By Optical Flow Meter (2020-2028) (US $MN)
20 Global Flow Meters Market Outlook, By Mechanical Flow Meter (2020-2028) (US $MN)
21 Global Flow Meters Market Outlook, By Vortex (2020-2028) (US $MN)
22 Global Flow Meters Market Outlook, By Other Types (2020-2028) (US $MN)
23 Global Flow Meters Market Outlook, By Variable Area (2020-2028) (US $MN)
24 Global Flow Meters Market Outlook, By Multiphase Flow Meters (2020-2028) (US $MN)
25 Global Flow Meters Market Outlook, By Thermal Flow Meters (2020-2028) (US $MN)
26 Global Flow Meters Market Outlook, By Product (2020-2028) (US $MN)
27 Global Flow Meters Market Outlook, By Analog Flow Meter (2020-2028) (US $MN)
28 Global Flow Meters Market Outlook, By Smart Flow Meter (2020-2028) (US $MN)
29 Global Flow Meters Market Outlook, By Transmission Method (2020-2028) (US $MN)
30 Global Flow Meters Market Outlook, By Wireless (2020-2028) (US $MN)
31 Global Flow Meters Market Outlook, By Wired (2020-2028) (US $MN)
32 Global Flow Meters Market Outlook, By Measured Medium (2020-2028) (US $MN)
33 Global Flow Meters Market Outlook, By Liquid/Slurry Steam (2020-2028) (US $MN)
34 Global Flow Meters Market Outlook, By Gases (2020-2028) (US $MN)
35 Global Flow Meters Market Outlook, By Application (2020-2028) (US $MN)
36 Global Flow Meters Market Outlook, By Residential (2020-2028) (US $MN)
37 Global Flow Meters Market Outlook, By Commercial (2020-2028) (US $MN)
38 Global Flow Meters Market Outlook, By Industrial (2020-2028) (US $MN)
39 Global Flow Meters Market Outlook, By End User (2020-2028) (US $MN)
40 Global Flow Meters Market Outlook, By Chemicals (2020-2028) (US $MN)
41 Global Flow Meters Market Outlook, By Construction (2020-2028) (US $MN)
42 Global Flow Meters Market Outlook, By Food & Beverage (2020-2028) (US $MN)
43 Global Flow Meters Market Outlook, By Hydraulic Systems (2020-2028) (US $MN)
44 Global Flow Meters Market Outlook, By Marine (2020-2028) (US $MN)
45 Global Flow Meters Market Outlook, By Metals & Mining (2020-2028) (US $MN)
46 Global Flow Meters Market Outlook, By Oil & Gas (2020-2028) (US $MN)
47 Global Flow Meters Market Outlook, By Pharmaceutical & Biotech (2020-2028) (US $MN)
48 Global Flow Meters Market Outlook, By Power Generation (2020-2028) (US $MN)
49 Global Flow Meters Market Outlook, By Pulp & Paper (2020-2028) (US $MN)
50 Global Flow Meters Market Outlook, By Refining & Petrochemicals (2020-2028) (US $MN)
51 Global Flow Meters Market Outlook, By Water & Waste Water (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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