Flow Meter Market Overview
The global Flow Meter Market is poised to reach $7.1 billion
by 2026, advancing at CAGR 4.4% during the forecast period 2021-2026. Flow
Meters are used for measuring liquids or liquid slurries and works on Faraday’s
Law of Electromagnetic Induction to determine the velocity of liquids in a
pipe. The demand for Flow Meter increases in recent years across various
industries such as mining, oil & gas and so on to monitor specific pipeline using vortex shedding and hydrodynamics among others to ensure optimal functionality, and act as a major driver for the growth of the
market during the forecast period. Moreover, pharmaceutical and food &
beverage industries need high sanitation, thus various differential pressure, positive displacement and variable area flowmeters are incorporated to obtain the desired outcome, boosting the demand for Flow Meters.
Flow Meter Market Report Coverage
The report based on: “Flow Meter Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth
analysis of the following segments of the Flow Meter Market.
By Product
Type: In-line Flow
Meter, Insertion Flow Meter, Low Flow Meter.
By
Components: Magnetic
coil, Transmitter, Sensing Electrode, Non magnetic flow tube, others.
By Type: Differential Pressure, Positive Displacement, Velocity
Flow, Open Channel, Mass Flow and Others
By
Technology: Variable Area, Orifice Plate, Venturi Flow,
Pitot Tube, Oval Gear, Rotary Vane, Vortex Flow, Turbine Flow, Coriolis Flow,
Ultrasonic, Thermal, Mechanical and Others
By
Application: Water & wastewater treatment, Chemicals,
Oil & Gas, Food & Beverage, Pharmaceutical, Agriculture, Metal &
Mining, Others
By Geography: North
America (U.S, Canada and Mexico); Europe (U.K., Germany, Italy, France &
Rest of Europe); APAC (China, Japan, South Korea, India & Rest of APAC); South
America (Brazil, Argentina & Rest of South America); RoW (Middle East &
Africa)
Key Takeaways
- The top companies in the Flow Meter Market are Emerson Electric Co, Endress + Hausan AG, ABB Ltd, Krohne Messtechnik GmbH, Badge Meter Inc, General Electric Co, McCrometer Inc, Honeywell International Inc, Toshiba Corporation and Siemens AG.
- Water & wastewater treatment is analyzed to hold highest share at
CAGR of 6.8% during the forecast period
2021-2026, owing to wide range of applications.
- APAC dominated the Flow Meter in 2020 with a share in excess of 36%, owing to growing water management plants.
Global Flow Meter Market Value Share, By Geography, 2020 (%)
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Flow Meter Market Segment Analysis - by Product Type
By Product Type, the In Line Flow Meter Market dominated the segment with
a share of 46.2% in 2020. Many countries are facing water
scarcity issues, thus pushing the countries to invest in water sustainable
projects. This led manufacturing companies to make a new monitoring
source to manage water management, thus boosting the demand for Flow Meter over
the forecast period. In February 2020, McCrometer Inc, an international leader
in flowmeter manufacturing, announced the launch of McMag 2000 Flow Meter,
designed primarily for water management industries and best fitted for
applications such as well monitoring and surface water management.
Flow Meter Market Segment Analysis - by Application
By Application, the Flow Meter Market is segmented into Water & wastewater treatment, Chemicals,
Oil & Gas, Food & Beverage, Pharmaceutical, Metal & Mining and
Others. Water & wastewater treatment
in Flow Meter segment is growing at a CAGR of 6.8% during
the forecast period 2021-2026. In Wastewater treatment plants, Flow Meters are
used to measure treated and untreated sewage, chemicals and raw water. Population growth, economic development and
urbanization are the factors that generate more volume of wastewater. As the
demand for wastewater treatment increases owing to environmental regulations,
many countries are investing lump sum amount on setting up new wastewater
treatment plants.
Flow Meter Market Segment Analysis - by Geography
APAC dominated the Flow Meter Market by a market share of more than 34% in 2020, owing to increasing water and wastewater management plants. Increasing population and water scarcity issues are the primary factors that lead to the rise of growing water management plants, thereby boosting the demand of Flow Meters. According to Water Environment Partnership in Asia, improvement in water environment can only be done by providing necessary information and knowledge for the enactment of water environment governance. Furthermore, According to Israel’s Ministry of Strategic Affairs & Public Diplomacy, nearly 90% of wastewater in Israel is recycled and thus making Israel, the world leader in water recycling in 2020.
Flow Meter Market Drivers
Growing adoption of Flow Meter for mining and mineral processing applications
As mineral processing technology
is rapidly evolving, mining companies are adopting Flow Meter to measure
process water, process slurry flow and heavy media flow with certain liners to
decrease abrasion. The Flow Meter is extremely essential to fulfill
environmental protection regulations as it measures the volume of pulp going
into the dump. In December 2019, Emerson Electric Co introduced Emerson’s
Rosemount MS Slurry Sensor with the Rosemount 8782 Slurry Transmitter is a
slurry Flow Meter, specially designed for high noise and slurry applications in
mining as well as pulp & paper industries. Slurry Flow Meter helps in
product quality improvement, reduction in raw material cost and minimization of
waste.
Growing adoption of Flow Meter for irrigation applications
Adoptions of Flow Meters
are gaining popularity in irrigational applications. Compared to other
flowmeters, Flow Meter provides greater enhanced accuracy and repeatability
throughout their operation life with uncertainty of _+ 1% reading. As there is
no moving part, they do not suffer from problems such as wear and tear,
minimizing maintenance and require no upstream strainers to filter out
sediments. Certain linings such Ceramic
linings are chosen for further protection against abrasive flows. Flow Meters
helps in minimizing the piping of the meters which in turn reduce the time and
cost of installation. In May 2020 McCrometer Inc, an international leader in
flowmeter manufacturing, announced the expanded line size of existing products
i.e. Wafer Style Dura Mag and Ultra Mag Flow Meters. Wafer Style Dura Mag is
designed with 2- and 3-inch line sizes and is ideal for drip irrigation,
surface water and other agricultural flow applications. Hence these factors
drive the market growth.
Flow Meter Market Challenges
Incapability to measure non-conductive fluids
Though Flow Meter has lot of diverse benefits but its
inability to measure non-conductive fluids is the major restraining factor for
the growth of the market. It can only measure the liquid flow rate of
conductive medium and cannot measure the flow rate of non conductive medium
such as hydrocarbons for heat treatment. Moreover installation and
commissioning of Flow Meter is much more complex than other flow meters. Hence
these factors decelerate the market growth during the forecast period.
Flow Meter Market Landscape
Partnership, Acquisitions, Collaboration,
technology launches and R&D activities are key strategies adopted by
players in the Flow Meter Market. The top companies in the Flow Meter Market are Emerson Electric Co, Endress + Hausan AG, ABB Ltd,
Krohne Messtechnik GmbH, Badge Meter Inc, General Electric Co, McCrometer Inc,
Honeywell International Inc, Toshiba
Corporation and Siemens AG.
Acquisitions/Technology Launches
- In March 2021, Krohne Messtechnik GmbH, a leader in global manufacturer
of flowmeters, announced the launch of new AF-E400 Ultra-Compact Flow Meter,
specially designed for utilities and industrial automation. It is perfect
choice for applications with conductive fluids in tight spaces.
- In August 2020, McCrometer Inc, global leader in manufacturing flowmeters, announced the launch of telemetry offering for their existing Flow Meters to fulfill the increasing demand for Flow Meters with telemetry services. Telemetry services enable a user’s Flow Meter to send the flow rate and totalize data to the user, thereby obstructing the need to visit the flowmeter to record data and manage water usage.
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