Industry Outlook
Even though simple in construction and operation, flow meters serves one of the most important functions of measuring flow across several industries dealing with liquid and gases. Technological evolution is making flow meter more intelligent and giving an edge to flow meter beyond their traditional functions. Advanced industrial automation, flow meter are becoming more accurate, provide high rate of response and additional feature of self-diagnosis allowed the flow meters market to proliferate and expected to grow with significant pace in coming years. At present, flow meters market registered a market value of US$ 6.71 Bn and projected to cross US$ 11 Bn by 2026. The market estimated to grow with considerable growth of 6.6% owing to rapid industrial growth and perpetual boom in industrial automation across several end-use industry verticals.
Market Synopsis
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"Coriolis Flow Meters to make the Fastest Run in Terms Market Value Throughout the forecast"
Advanced flow meter such as magnetic, Coriolis and ultrasonic flow meters are gradually replacing traditional and less accurate flow meters such as positive & differential pressure flow meters. Coriolis, magnetic and ultrasonic flow meters are capable of providing real-time accurate flow data irrespective of the fluid with different viscosity and temperature. Consequently, Coriolis flow meters registered fastest growth in overall flow meters market closely followed by magnetic and ultrasonic flow meters. However, high power requirement, specialized equipment, high cost and need for skilled labor expected to hold the growth of aforementioned new breed of flow meters. This results in the dominance of differential pressure flow meters on the overall flow meters in terms of market value and the dominance expected to continue throughout the forecast period from 2018 to 2026.
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"Water Infrastructure to Retain its Title of Leader amongst Other End-use Industries"
As a vital component in water treatment plants and municipal infrastructure, flow meters in water infrastructure recorded the highest market value among several other end-use industries. The segment estimated to retain its tags offering stiff challenge for end-use industries such as power generation, oil & gas and food & beverages industry. Oil & gas and power generation end-use industry face-off each other closely to claim second spot. Perpetual growth in demand for oil & gas as well as power stimulating coupled with fast proliferation of industrial automation and intelligent system supported the growth of flow meters market. Besides, rapid growth in food & beverages, chemical industry and other end-use industries also replacing existing old flow meters with state-of-the-art and efficient flow meters. This expected to boost the demand for flow meters consistently throughout the forecast period from 2018 to 2026.
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"Asia Pacific Holds Significant Market Potential and Tagged as Global Flow Meters Market Leader"
In 2017, Asia Pacific registered largest market value in global flow meters market and expected to retain its dominant position throughout the forecast period from 2018 to 2026. The growth of the region projected to remain high in coming years owing to the rapid industrial as well as residential infrastructures. Expansion of water infrastructure in order to support industry and residential development is one of the significant reasons encouraging the demand for flow meters. Markets in North America and Europe reached maturity and projected to demonstrate consistent moderate growth. Developing regions including Middle East and Africa and Latin America have significant market growth potential and are expected to proliferate at a notable growth in coming years.
Market Segmentation
| ATTRIBUTE |
DETAILS |
| Research Period |
2016-2026 |
| Base Year |
2017 |
| Forecast Period |
2018-2026 |
| Historical Year |
2016 |
| Unit |
USD Million |
| Segmentation |
By Meter Type (2016–2026; US$ Mn)
• Differential Pressure
• Positive Displacement
• Magnetic
• Ultrasonic
• Coriolis
• Turbine
• Vortex
|
|
By End-use Industry (2016–2026; US$ Mn)
• Water Infrastructure
• Power Generation
• Oil & Gas
• Paper & Pulp
• Food & Beverages
• Chemical
• Others (Construction & Mining, Hydraulic Systems, etc.)
|
|
Geography Segment (2016–2026; US$ Mn)
• North America (United States and Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (China, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (GCC, Rest of MEA)
|
"Multi-national Giants Lock Horns to claim Supremacy over Flow Meters Market"
Although flow meter is very small device, however, play a vital role in several industries dealing with fluids. Realizing the importance and demand, several international players are involved in manufacturing flow meters for several end-use applications and face intense competition from each other as well from local players. The flow meters market is highly fragmented and the competition expected to become more fragmented in coming years with new participants entering into the market. The research comprises business strategies and modern evolution of few of the most prominent companies in flow meters market includes ABB Ltd., Emerson Electric Co., Honeywell International, Inc., Siemens AG, Schneider Electric SE, Badger Meter, General Electric, KROHNE Messtechnik, Höntzsch GmbH, Yokogawa Electric Co., Hitachi ltd., and Endress+Hauser AG among others.
Key questions answered in this report
- How industrial automation aided flow meters market to flourish?
- Which are the most prominent end-user and how their growth is assisting flow meters market to grow?
- What are different types of flow meters and what is their standing in terms of market value?
- How change in fluid properties affect the demand for flow meters market?
- What role do the power generation and oil & gas sector play and their effect on the sales of flow meters?
- How developing region such as Asia Pacific and Latin America emerge as the game-changer in coming years?
