Water Meter Market - Technological Advancements, Evolving Industry Trends and Insights 2016 - 2024
The obvious fact about depleting water resources have raised concerns about measures to reduce water consumption and wastage across the globe. Governments are thus taking initiatives for the same through raising awareness and installing water meters to analyze the required amount of water for various purposes, its wastage if any, and methods of preserve it. Several consumers across the globe are also opting for water meters as they help in optimizing the bill, thereby saving energy and resources. The seamless integration of advanced technologies has led to the introduction of smart water meters, which has increased the uptake of these products over the past few years.
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Households Boost Residential Segment as they Continue to be Key Users of Water Meters
On the basis of application, the global water meter market is segmented into residential, commercial, and industrial segments. Of these, the residential segment held the dominant share in the global market in 2015. The report suggests that the residential segment will continue to lead as households will continue to be key users of water meters during the forecast period. The commercial and industrial segments are also estimated to bring in significant revenues as both the segments are expected to install water meters for measuring high volume water flows.
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Asia Pacific Remains on Top with Ongoing Infrastructural Changes
In terms of geography, the global water meter market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of these, Asia Pacific is expected to lead the global market throughout 2016 and 2024. The improving infrastructure in the region and a strong presence of several water meter manufacturers are expected to keep Asia Pacific regional market at the forefront.
The research report points out that the important players operating in the global water meter market are Diehl Stiftung & Co. KG, Azbil Kimmon Co., Ltd., Badger Meter, Inc., Elster Group GmbH, Neptune Technology Group Inc., G. Gioanola S.R.L., Aichi Tokei Denki Co., Ltd, Apator SA, Arad Group, Fedrel Meter, B Meter, Itron Inc., Master Meter, Inc., Maddalena Spa, Kamstrup A/S, Sensus (Xylem Inc.), ZENNER International GmbH & Co. KG, Mueller Systems, LLC., Plata Meter Co., Ltd, NINGBO WATER METER CO.,LTD. and Jiaxing Eastron Electronic Instruments Co., Ltd. The competitive landscape in the global water meter market is quite fragmented due to presence of several players. The lack of product differentiation has further intensified the competition. To gain an edge, players are expected to focus on the integration of advanced technologies in their upcoming products, states the exhaustive report.
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