Flow Meter Market is Estimated to Garner $11.9 billion, Globally, by 2026

Leading market players analyzed in the flow meter market 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.

Market players have launched new flow meters for achieving energy saving. SICK launched its FTMg thermal flow meter for simultaneous measurement of gas flow, pressure and temperature and computing combined values for detection of leaks. It can be utilized primarily for pneumatic systems and tracking energy consumption of compressed air in real-time. An on-board algorithm is utilized for storing values of pressure, flow, and temperature for calculating energy of gas that can be passed through flow channels. Through comparison of electric power demand of compressors, the changes in efficiency of pneumatic system can be detected. Then process efficiency can be improved and energy can be saved across the plant.

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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 labour hinder the market growth. On the other hand, trend of process automation in production and process industries create new opportunities in the coming years.

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.

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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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