Press release
Flow Meter Market to Touch US$ 11.0 Billion by 2028, at a CAGR of 6.2%
A flow meter, also known as a flow gauge, refers to a device for monitoring and controlling of systems. It is widely available as positive displacement, thermal, Coriolis, electromagnetic, ultrasonic, turbine, vortex shedding, and differential pressure. It is utilized to measure the nonlinear, linear, mass or volumetric flow rate of a gas or a liquid. As it has low maintenance costs, the flow meter is employed in the oil and gas, chemicals, power generation, pulp and paper, metals and mining, pharmaceuticals, and food and beverage (F&B) industries across the globe.
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Flow Meter Market Trends and Drivers:
At present, the increasing demand for flow rate measurement in oil and gas applications around the world represents one of the key factors strengthening the market growth. In addition, the rising utilization of flow meters to treat wastewater is offering a positive market outlook. Apart from this, technological advancements in the flow meter, such as wireless monitoring and control, advanced sensors, and digital readouts, are propelling the growth of the market. Additionally, the increasing integration of the internet of things (IoT) in smart metering solutions, is offering lucrative growth opportunities to industry investors. Furthermore, key players are introducing a versatile ultrasonic flow energy meter for non-invasive and ultrasonic transit time measurement, which is supporting the growth of the market.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
Analog Flow Meter
Smart Flow Meter
Breakup by Application:
Residential
Industrial
Commercial
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
ABB Group
Emerson Electric Co.
Siemens AG
Schneider Electric SE
Saison Information Systems Co., Ltd.
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