PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1503250
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1503250
The flow meters market is poised for significant growth, with a projected value of USD 12.6 billion by 2029, exhibiting a robust CAGR of 6.7% from its 2024 value of USD 9.1 billion. The flow meters market is witnessing substantial growth, primarily driven by two key factors. The expansion of industrial activities and the increasing focus on water and wastewater management. As industries such as oil and gas, chemicals, and manufacturing continue to grow, the need for precise flow measurement becomes critical for optimizing processes, ensuring safety, and meeting regulatory standards. Flow meters play a vital role in monitoring and controlling the flow of liquids and gases, enhancing operational efficiency and product quality. Simultaneously, the rising global emphasis on sustainable water management and environmental protection has led to significant investments in water distribution and wastewater treatment infrastructure.
Scope of the Report | |
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Years Considered for the Study | 2018-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | Type, End-User, Region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America |
"Coriolis segment is estimated to be the second fastest-growing type for flow meter market during the forecast period 2024 to 2029."
Coriolis flow meters are projected to be the second fastest-growing type from 2024 to 2029 due to their unparalleled accuracy and versatility in measuring mass flow and density of both liquids and gases. These meters are highly valued in industries such as oil and gas, chemicals, and food and beverage, where precise flow measurement is critical for process optimization and quality control. The growing emphasis on efficiency and regulatory compliance further boosts their adoption. Coriolis meters' ability to provide direct mass flow measurements without the need for additional temperature and pressure compensation makes them especially reliable. Their advanced diagnostic capabilities and minimal maintenance requirements also contribute to their rapid growth, as industries seek robust and accurate flow measurement solutions.
"Refining & petrochemical was the third largest segment in flow meters market in 2023, in terms of value."
The refining and petrochemical segment was the third largest end-use industry for the flow meter market. This sector's demand for precise and reliable flow measurement is driven by the need to ensure optimal process control, product quality, and safety. Flow meters are critical in monitoring various stages of refining and chemical processing, including fluid movement, mixing, and reaction control. The ongoing global demand for refined petroleum products and petrochemicals, coupled with investments in modernizing existing facilities and expanding capacity, has significantly boosted the adoption of advanced flow meters. Additionally, stringent environmental and safety regulations in the refining and petrochemical industries necessitate accurate flow measurement, further solidifying this segment's position in the market.
"Middle East & Africa is estimated to be the second fastest growing segment of flow meters market during forecasted year from 2024 to 2029, in terms of value."
The Middle East & Africa is projected to be the second fastest-growing region for the flow meter market from 2024 to 2029 due to significant investments in the oil and gas sector and the expansion of water and wastewater infrastructure. The region's abundant hydrocarbon resources drive continuous exploration and production activities, necessitating accurate flow measurement for efficiency and regulatory compliance. Additionally, rapid urbanization and population growth are increasing the demand for improved water management solutions, prompting investments in modern water distribution and wastewater treatment facilities. These developments, coupled with the adoption of advanced technologies and smart infrastructure, are fueling the demand for sophisticated flow meters, making the Middle East & Africa a key growth region during the forecast period.
The key market players illustrated in the report include Honeywell International Inc. (US), Siemens AG (Germany), Emerson Electric Co. (US), ABB Ltd. (Switzerland), Yokogawa Electric Corporation (Japan), Azbil Corporation (Japan), Badger Meter, Inc. (US), Endress+Hauser Management AG (Switzerland), Krohne Messtechnik GmbH (Germany), and Schneider Electric (France).
Research Coverage
This report segments the market for flow meters market based on type, end-use industry, and region, and provides estimations for the overall value (USD Million) of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for flow meters.
Reasons to buy this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the flow meters market; high-growth regions; and market drivers, restraints, opportunities, and challenges.