Press release
Global Flow Meter Market 2024 - Unveiling Size, Sharing Insights on Share, Examining Price Dynamics, Assessing Growth Factors, Providing In-Depth Analysis, and Forecasting Till 2033
Global Flow Meter Market
The Business Research Company offers in-depth market insights through Flow Meter Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The flow meter market size has grown strongly in recent years. It will grow from $8.69 billion in 2023 to $9.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to industrial automation, water and wastewater management, oil and gas exploration, globalization of trade, infrastructure development.
The flow meter market size is expected to see strong growth in the next few years. It will grow to $11.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to industry 4.0 integration, renewable energy growth, water conservation initiatives, healthcare sector demand, environmental monitoring. Major trends in the forecast period include digital transformation, wireless connectivity, ultrasonic flow meters, demand for coriolis flow meters, environmental regulations.
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Market Segmentation:
The flow meter market covered in this report is segmented -
1) By Type: Differential Pressure, Positive Displacement, Ultrasonic, Turbine, Magnetic, Coriolis, Vortex, Other Types
2) By Power Type: Electric, Solar, Battery Powered
3) By Pipe Size: 2 Inches, 4 Inches, 6 Inches, More Than 6 Inches
4) By End User: Water And Waste Water, Refining And Petrochemical, Oil And Gas, Chemical, Power Generation, Pulp And Paper, Food And Beverage, Pharmaceutical, Metals And Mining, Other End Users
Major Driver - Rising Oil And Gas And Wastewater Industries Fueling Flow Meter Market Expansion
Growing oil and gas and wastewater industries are expected to propel the growth of the flow meter market. The oil and gas industry extracts, refines, and distributes oil and natural gas. In contrast, the wastewater industry treats and manages wastewater before it is discharged back into the environment to remove pollutants. Flow meters are widely used in both the oil and gas and wastewater industries to measure and monitor fluid flow rates in crude oil, natural gas, and other wastewater fluids in treatment plants and other facilities. For instance, in 2022, According to the report published by the US Energy Information Administration (EIA), a US-based statistical agency, US gross withdrawals of oil and natural gas both rose, with oil production hitting 11.6 million barrels per day and natural gas production reaching 118.7 billion cubic feet per day in December 2021. Therefore, the growing oil & gas and wastewater industries is driving the growth of the flow meter market going forward.
Competitive Landscape:
Major companies operating in the flow meter market report are Endress+Hausar AG, Honeywell International Inc., Krohne Messtechnik GmbH, Siemens AG, Yokogawa Electric Corporation, ABB Ltd., Emerson Electric Co., Azbil Corporation, em-tec GmbH, General Electric Company, Hitachi High-Tech Corporation, HÖNTZSCH GMBH & CO. KG, Bronkhorst High-Tech BV, Sick AG, Omega Engineering Inc., Christian Bürkert GmbH & Co. KG, TSI Inc., Keyence Corporation, Sensirion AG, Badger Meter Inc., Schneider Electric SE, Thermal Instrument Co., Katronic Technologies Ltd., Flow Meter Group, Omni Flow Computers Inc., Henan Dafang Dingsheng Flow Instrument Co. Ltd., Flow-Tronic S.A., McCrometer Inc., Blue-White Industries Ltd., Dakota Instruments Inc., FTI Flow Technology Inc., KEM KÜPPERS ELEKTROMECHANIK GMBH, Max Machinery Inc., Parker Hannifin Corp., Seametrics Inc.
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Top Trend - Technological Advancements Drive Innovation In The Flow Meter Market
Technological advancement is a key trend gaining popularity in the flow meter market. Major companies operating in the flow meter market are focused on developing innovative solutions to strengthen their position in the market. For instance, in May 2022, SONOTEC, a Germany-based technology company specializing in ultrasonic testing solutions, including flow meters, launched SONOFLOW CO.55, a high-accuracy clamp-on flow meter that uses ultrasonic technology to measure flow rates, and its clamp-on design enables easy installation and maintenance without requiring any interruptions to the flow system, eliminating any risk of contamination. These reusable, non-invasive sensors are suitable for implementation in both single-use and hybrid environments within the bioprocessing industry.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Flow Meter Market Characteristics
3. Flow Meter Market Trends And Strategies
4. Flow Meter Market - Macro Economic Scenario
5. Flow Meter Market Size And Growth
…..
27. Flow Meter Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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