$9 Billion Flow Meter Market: Industry Overview, Top Manufactures, Market Size, Opportunities and Forecast by 2024

According to the latest report by IMARC Group titled, “Flow Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the market reached a value of US$ 6 Billion in 2017. Looking forward, the market is expected to reach a value of US$ 9 Billion by 2023, exhibiting a CAGR of around 6.8% during 2018-2023.

A flow meter is a device used to measure the volume of a fluid, gas or vapor that is passing through a point on a given period. It consists of various components such as a scale, stop, indicator, and tube. It finds applications in diverse sectors such as oil and gas, food and beverage, pulp and paper, and power generation.

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Over the years, there has been a significant expansion in the mining and oil extraction sector which has majorly contributed to the adoption of the flow meters. Apart from this, the increasing demand for flow rate measurement in water and wastewater management applications is also driving the market across the globe. Another major factor contributing to the growth of the market is the introduction of new flow meter technologies. Digital meters, magnetic flow meters, ultrasonic meters, and Coriolis meters are some of the different types of advanced flow meters available in the market. In addition to this, due to rapid industrialization and urbanization across the emerging nations, the demand for flow meters is projected to experience high growth in these regions. Besides, technological advancement aimed to enhance the accuracy and reliability of flow meters will also drive the market in the coming years.

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Market Segmentation:

Breakup by Product Type

• Analog Flow Meter
• Smart Flow Meter

Breakup by Application

• Residential
• Industrial
• Commercial

Breakup by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Competitive Landscape

The report has also examined the competitive landscape of global flow meter market. Some of the major players in the market are ABB Group, Emerson Electric, Siemens, Schneider Electric and Saison Information Systems Co., Ltd.

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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