Flow Meter Market 2021 Key Players Growth Analysis and Business Demand with growing CAGR of 6.3% by 2026

Flow meter market players have been updating their products to expand the scope of application and improve capabilities. Innoquest Inc. launched two updated flow meters that have better capacities as compared to their previous versions for expansion of its reach in new markets. The SpotOn SC-5 Universal Flow Meter and the SpotOn Mega Flow Meter are focused specifically on the water audit industry. The SpotOn SC-5 Universal Flow Meter is an update of the SpotOn Sprayer Calibrator Model SC-4, which was primarily focused on the agriculture industry. The updated product has larger capacity and better accuracy as compared to its predecessor. So, it can be utilized in the water audit sector for track flow rate of sprayers and nozzles along with faucets and showers.

Rise in demand and adoption in industrial measuring application and technological advancements drive the growth of the global flow meter market. However, high cost and lack skilled labor hinder the market growth. On the other hand, trend of process automation in production and process industries create new opportunities in the coming years.

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The ultrasonic segment is expected to register the fastest CAGR of 6.9% during the forecast period, owing to increased reliability, reduced pressure drop, and relatively higher accuracy. However, the differential pressure segment held the largest share in 2018, contributing to more than one-fourth of the global flow meter market. The expertise of differential gas flow meter in volumetric flow metering makes it stand out over other types, which boosts the growth of the segment.

Based on end user, the power generation segment accounted for the largest share in 2018, holding nearly one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the oil and gas segment is estimated to portray the highest CAGR of 6.9% during the forecast period.

Based on region, Asia-Pacific contributed the highest share, accounting for nearly two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Europe is expected to grow at the highest CAGR of 6.6% from 2019 to 2026.

Leading market players analyzed in the research include Honeywell International Inc., Siemens AG, Emerson Electric Company, ABB Ltd, Schneider Electric SE, Yokogawa Electric Corporation, Azbil Corporation, Badger Meter Inc., Hitachi, Ltd., and KROHNE Messtechnik GmbH.

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Key Findings of the Study:

By type, differential pressure flow meter emerged as the global leader by acquiring 29.1% market share in 2018, and it is anticipated to be the largest market during the forecast period

By end user, power generation is the largest revenue segment over other end users with more than 30% global market share in 2018

Asia-Pacific is the largest regional market due to strong industrial growth, presence of emerging economic such as China, India, Japan, and South Korea

Technological innovation and its incorporation in the flow meter technology is opening up new growth opportunities to the market

Middle East is expected to be the new investment centric region due to growing efforts to process seawater through desalination
Global flow meter market forecast analysis from 2018 to 2026 is included in the report.

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