According to the latest report by IMARC Group “Flow Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global flow meter market reached a value of US$ 7.6 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026.
Flow meters, also known as flow indicators, are electronic devices that are utilized for measuring and controlling the linear, nonlinear, volumetric or mass flow rate of a liquid, gas or vapor. Most of these meters work by forcing the flow through a confined space and analyzing different properties, such as pressure, temperature, density, viscosity, and change in the kinetic energy, for determining the flow rate of the fluid. As a result, they are widely employed across the globe to compute flare management in refineries, household utility consumption, and measure the flow of oil, fuel, water, paint as well as chemicals.
Market Trends:
Flow meters are gaining traction in various end-use industries such as gas, water, HVAC, automotive, petroleum, food processing, and pulp and paper. The installation of flow meters aids in analyzing incurred cost, minimizing energy wastes and taking effective measures to save energy. Apart from this, governments in several countries are undertaking initiatives and introducing regulations to help conserve energy, thereby boosting the overall sales of flow meters. Moreover, manufacturers are launching innovative flow meters by incorporating the latest technologies to improve their functionality. For instance, the emergence of the Internet of Things (IoT) has resulted in the advent of smart flow rate measurement solutions.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Flow Meter Market Coverage and Segmentation 2021-2026:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
ABB Group
Emerson Electric Co.
Siemens AG
Schneider Electric SE
Saison Information Systems Co., Ltd.
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Product Type:
Analog Flow Meter
Smart Flow Meter
Currently, analog flow meters represent the most popular product type. However, with the emergence of the Internet of Things (IoT), end users are shifting toward smart flow meters.
Breakup by Application:
Residential
Industrial
Commercial
Amongst the above-listed applications, flow meters are mostly used in the residential sector.
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
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