According to the latest report by IMARC Group, titled, “Flow Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global flow meter market size reached US$7.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$11.2 Billion by 2027, exhibiting at a CAGR of 6.5% during 2022-2027.
A flow meter is an instrument that helps measure the linear, nonlinear, mass, or volumetric flow rate of a liquid, gas, or steam. It consists of primary devices, transducers, and transmitters that sense the fluid passing and convert it into usable data. Nowadays, advanced flowmeters with integrated computers are widely being used to monitor variances in pressure, temperature, viscosity, and density in real-time.
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The increasing shale gas exploration activities, in confluence with the construction and replacement of new and existing power plants respectively, represents one of the major factors positively influencing the adoption of flow meters worldwide. Moreover, the emerging automation trend in industrial processes is catalyzing the demand for flow meters in various industry verticals, including construction, automotive, and wastewater management. Additionally, leading manufacturers are introducing ultrasonic flow meters integrated with advanced technologies to enhance the performance and measurement in continuous industrial processes. This, in turn, is anticipated to provide a positive market outlook.
Breakup by Product Type:
- Analog Flow Meter
- Smart Flow Meter
Breakup by Application:
- Residential
- Industrial
- Commercial
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- ABB Group
- Emerson Electric Co.
- Siemens AG
- Schneider Electric SE
- Saison Information Systems Co., Ltd.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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