Flow Meter Market 2021 Biggest Challenges and Opportunity in Wastewater Sector by with Leading Key Players by 2027
Asia-Pacific contributed the highest share, accounting for nearly two-fifths of the total flow meter 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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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.
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.
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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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