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Flow Meter Market Trends That Will Shape the Next Decade: Insights from Technological Advancements Drive Innovation In The Flow Meter Market
Flow Meter Market
How Large Will the Flow Meter Market Size By 2025?
In the past few years, the size of the flow meter market has seen a consistent expansion. Its growth is expected to increase from a value of $9.05 billion in 2024 to $9.39 billion in 2025, implying a compound annual growth rate (CAGR) of 3.8%. Factors contributing to the growth seen in the historical period include the emergence of industrial automation, the need for water and wastewater management, the exploration of oil and gas, the globalization of trade, and infrastructural improvement.
How Big Is the Flow Meter Market Size Expected to Grow by 2029?
In the coming years, the flow meter market is projected to witness substantial growth. Forecasted expansion to a value of $12.17 billion in 2029 indicates a compound annual growth rate (CAGR) of 6.7%. Factors contributing to growth during this forecast period include the integration of industry 4.0, the rise of renewable energy, water conservation efforts, demand in the healthcare sector, and environmental monitoring. Key trends shaping the forecast period are digital transformation, wireless connectivity, the emergence of ultrasonic flow meters, increased demand for coriolis flow meters, and environmental regulations.
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Which Key Market Drivers Powering Flow Meter Market Expansion and Growth?
The expansion of the oil, gas, and wastewater sectors is anticipated to fuel the growth of the flow meter market. The oil and gas sector involves extraction, refining, and distribution of oil and natural gas. On the other hand, the wastewater sector is responsible for the treatment and management of wastewater until it is discharged back into the environment devoid of pollutants. Both industries extensively use flow meters to gauge and track fluid flow rates in crude oil, natural gas, and wastewater fluids at treatment plants and other facilities. The Energy Information Administration, a US statistics agency linked to the Department of Energy, stated that the US crude oil production hit a record 12.9 million barrels per day (b/d) in 2023 in March 2024. This was a 9% rise from 2022 and has led to an increase in crude oil exports, notwithstanding the fact that most U.S. refineries are particularly suited for heavy, sour crude oils. Hence, the thriving oil and gas and wastewater sectors are pushing forward the growth of the flow meter market.
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What Long-Term Trends Will Define the Future of the Flow Meter Market?
Developments in technology are a rising trend in the flow meter industry. The core focus of major businesses in this market is to craft innovative solutions to solidify their market standing. An exemplar of this is SONOTEC, a German tech firm specializing in ultrasonic testing solutions like flow meters. In May 2022, they launched the SONOFLOW CO.55, an exceptionally accurate clamp-on flow meter. It employs ultrasonic technology for flow rate measurement. Its clamp-on design makes installation and upkeep straightforward without necessitating any disruptions to the flow system, thus eliminating contamination risk. These re-usable, minimally invasive sensors are well-suited for both single-use and hybrid setups in the bioprocessing sector.
What Are the Emerging Segments in the Flow Meter Market?
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
Subsegments:
1) By Differential Pressure: Orifice Plates, Venturi Meters, Flow Nozzles
2) By Positive Displacement: Gear Flow Meters, Diaphragm Flow Meters, Piston Flow Meters
3) By Ultrasonic: Clamp-On Ultrasonic Flow Meters, Inline Ultrasonic Flow Meters
4) By Turbine: Mechanical Turbine Flow Meters, Electronic Turbine Flow Meters
5) By Magnetic: Electromagnetic Flow Meters
6) By Coriolis: Mass Flow Meters
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Who Are the Global Leaders in the Flow Meter Market?
Major companies operating in the flow meter market include 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.
Which are the Top Profitable Regional Markets for the Flow Meter Industry?
North America was the largest region in the flow meter market in 2024.Europe and Asia-Pacific are expected to be the fastest-growing regions in the global flow meter market report during the forecast period. The regions covered in the flow meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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