Flow Meter Market 2021 to Eyewitness Potential Growth till 2027 | Key Players - Siemens, Emerson Electri, ABB Ltd, Schneider Electric, Yokogawa Electric & Azbil Corporation

The power generation segment dominated the flow meter market, accounting for nearly one-third of the global flow meter market. The flow meter offers several benefits including accurate flow measurement of conductive feed water flow, ensuring the lowest level of emission, and improving energy processing capacities. Therefore, power plants largely depend on flow metering technology, which, in turn, boosted the market growth. Thereby being the largest consumer in this market. However, the oil and gas segment is projected to register the fastest CAGR of 6.9% during the forecast period, as flow metering applications accounts greater importance in crude oil extraction activities.

High adoption of flow meters in industrial measuring applications and recent advancements in flow meter technology have boosted the growth of the global flow meter market. However, high cost of flow meter and requirements of skilled labor hamper the market growth. On the contrary, trend for process automation across the manufacturing and process industries is expected to create lucrative opportunities in the near future.

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Covid-19 scenario:

The demand for flow meters has not been affected much during the coronavirus pandemic due to its application in essential services such as water & wastewater, power generation, and food & beverages.

However, the manufacturing activities and supply chain has been impacted during Covid-19 outbreak across the globe.

The report offers a detailed segmentation of the global flow meter market based on type, end user, and region.

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Based on type, the differential pressure segment contributed to the largest share in 2018, accounting for more than one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the ultrasonic segment is expected to register the highest CAGR of 6.9% from 2019 to 2026.

The global flow meter market across Asia-Pacific held the largest share in 2018, contributing to nearly two-fifths of the market, owing to high manufacturing base of industries including food &beverages, chemical, textile, refining, and water & wastewater treatment. However, the market across Europe is expected to reach Europe is expected to portray the fastest CAGR of 6.6% during the forecast period, owing to sustainable measures adopted by European Union over the past few years.

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