The global flow meter market size is expected to be worth around US$ 22.99 billion by 2030, according to a new report by Vision Research Reports.
The global flow meter market size was valued at US$ 8.29 billion in 2020 and is anticipated to grow at a CAGR of 5.80% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | USD 22.99 billion by 2030 |
| Growth Rate | CAGR of 5.80% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Emerson Electric Corporation; General Electric; Krohne Messtechnik GmbH; Hitachi High-Tech Corporation; ABB Ltd |
Growth Factors
The penetration of IoT has helped the evolution of smart flow rate measurement solutions, leading to an increased demand for intelligent flow meters. The adoption of flow meters is expected to increase as rapid urbanization triggers the need for better water and wastewater management.
The advancements in technology have made ultrasonic and Coriolis flow meters more reliable and accurate than their counterparts. The integration of IoT in flow rate measurement solutions has helped transform Coriolis meters into intelligent flow meters. Hence, the adoption of these meters is expected to grow significantly over the forecast period. Besides, extensive adoption of Coriolis flow meters by the oil and gas, chemical, and refinery sectors is projected to drive the growth of the overall product segment over the forecast period.
The water and wastewater segment is expected to witness robust growth over the forecast period owing to rapid urbanization in various parts of the world, particularly in Asia Pacific, South America, and Africa. These regions have aggressively started to adopt efficient solutions for the treatment, control, monitoring, and regulation of water supplies and management of wastewater, thereby driving the demand for flow rate measurement solutions and instruments.
Europe dominated the global market in 2020 as the region is home to several manufacturers and product innovators of flow rate measurement solutions and services, including flow meters. However, Asia Pacific (APAC) is expected to witness the highest growth rate over the forecast period owing to the rapid urbanization underway in APAC countries, which would subsequently trigger the need for adequate and efficient water and wastewater management. The market in India is likely to witness a significant boost over the forecast period on account of the growing need for expanding fuel refining capacity in the country.
Report Highlights
The magnetic flowmeters segment held the largest revenue share of approximately 24% of the total market share in 2020. Magnetic flowmeters have further been classified into wired and wireless magnetic flowmeters. Ultrasonic and Coriolis segments are anticipated to witness a high growth rate exceeding 7.5% from 2021 to 2028. These flowmeters feature the integration of IoT, leading to the smart flow rate measurement solutions.
Differential pressure (DP) and positive displacement (PD) flow meters are conventional products for measuring flow rates. On the other hand, magnetic flow meters are ideal for measurement applications in sectors such as pulp and paper, petrochemicals, food and beverage, and chemicals and petroleum refinement owing to the reliability, accuracy, and cost-effectiveness of these meters. As a result, the magnetic segment is expected to gain a significant market share through 2028. Product innovations such as two-wired and clamp-up flow meters and wireless magnetic meters (also known as magmeters) have created additional opportunities for the adoption of magnetic flow meters. These flow meters are widely used in applications such as power generation, oil and gas, and water and wastewater management.
The oil & gas segment is expected to emerge as the fastest-growing segment, registering a CAGR of 6.62% from 2021 to 2028 owing to the rapid growth of the industry. The development of shale gas reserves is also expected to boost the demand for flow meters in the oil and gas and chemical and petroleum refinement sectors. Flow meters are an effective solution to measure the flow rate of upstream and downstream processes, custody transfer, and liquid hydrocarbons within the oil and gas and chemical industries.
Countries in the Asia Pacific region, such as China, India, and Southeast Asian countries, are witnessing rapid urbanization and industrial development. This has triggered the need for adequate power generation, water supply, and wastewater treatment. Moreover, with the increasing population, approximately 34.0 billion gallons of wastewater are processed per day in the U.S. alone, according to the Environmental Protection Agency (EPA). Government investments in wastewater treatment plants are significant in the North American and European regions. As a result, the water and wastewater segment accounted for a share of around 24.0% of the total market and is anticipated to register a CAGR exceeding 6.0% from 2021 to 2028.
Europe dominated the flow meter market and accounted for over 35% of the global revenue share in 2020, followed by North America. In Europe, the adoption of flow meters is high in the power generation segment, contributing to the regional market growth. The demand for magnetic, ultrasonic, and Coriolis flow meters for oil and gas management is expected to increase in the region. Europe is home to numerous manufacturers and providers of flow rate measurement products and solutions, such as Endress+Hausar AG, Krohne Messtechnik GmbH, and ABB Ltd. Therefore, Europe accounted for the largest market share in 2020, and this trend is expected to continue through the forecast period.
Some of the prominent market players in North America include General Electric; Emerson Electric Corporation; and Honeywell International Inc.; therefore, the region holds a significant market share in terms of revenue. APAC is anticipated to witness a substantial CAGR exceeding 7.0% from 2021 to 2028. The market in India and China is expected to witness significant growth over the forecast period owing to continuous developments in the water and wastewater management sector.
Key Players
Market Segmentation
Table Of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Flow Meter Market, By Product
7.1. Flow Meter Market, by Product, 2021-2030
7.1.1. Differential Pressure (DP)
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Positive Displacement (PD)
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Magnetic
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Ultrasonic
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Coriolis
7.1.5.1. Market Revenue and Forecast (2017-2030)
7.1.6. Turbine
7.1.6.1. Market Revenue and Forecast (2017-2030)
7.1.7. Vortex
7.1.7.1. Market Revenue and Forecast (2017-2030)
7.1.8. Others
7.1.8.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Flow Meter Market, By Application
8.1. Flow Meter Market, by Application, 2021-2030
8.1.1. Water & Wastewater
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Oil & Gas
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Chemicals
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Power Generation
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Pulp & Paper
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Food & Beverage
8.1.6.1. Market Revenue and Forecast (2017-2030)
8.1.7. Others
8.1.7.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Flow Meter Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10. Company Profiles
10.1. ABB Ltd.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Emerson Electric Corporation
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. em-tec GmbH
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Endress+Hausar AG
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. General Electric
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Hitachi High-Tech Corporation
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Honeywell International Inc.
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. HÖNTZSCH GMBH & CO. KG
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Krohne Messtechnik Gmbh
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Siemens
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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