Flow Meters Market Size, Share & Trends Report

Flow Meters Market Size, Share & Trends Analysis Report By Product, By Application (Water & Wastewater, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Food & Beverage), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Nov, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-150-4
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 140

Industry Insights

The global flow meters market size was valued at USD 7.3 billion in 2018 and is anticipated to expand at the CAGR of 6.0% from 2019 to 2025. The objective of the report is to provide in-depth analysis and detailed information about crucial influential factors propelling the growth of the market. The growing demand for flow rate measurement in oil and gas management applications across the globe is expected to drive the growth of the market over the forecast period.

The adoption of flow measurement technologies and instruments would also gain traction in other sectors, such as water and wastewater, power generation, and pulp and paper, worldwide over the next six years. The adoption of flow meters would be particularly significant in the oil and gas, chemical and petroleum refinery sectors owing to the recent detection of shale gas reserves in North America, Europe, and Asia Pacific.

U.S. flow meters market

Demand for intelligent flow meters is expected to increase over the foreseeable period owing to the integration of IoT, which has led to the introduction of smart flow rate measurement solutions. Coriolis flow meters are predicted to emerge as the most demanding product type on account of its enhanced smart capabilities to measure flow rate reliably and accurately. The players in the market are mainly targeting the oil and gas sector and investing aggressively to offer innovative products and solutions to measure the flow rate of liquids, gases, and vapors. Additionally, the custody-transfer in the oil and gas sector is one of the key application creating lucrative opportunities for the ultrasonic and Coriolis flow meters.

Advancements in technologies such as wireless monitoring and control, advanced sensors, and digital readouts are expected to drive the growth of the market over the forecast period. Manufacturers of flow meters are using the Internet of Things (IoT) for smart metering solutions. The advanced approach of IoT uses automatic meter reading, which collects data automatically and remotely. Owing to such technological developments in products, the market is expected to grow at a significant rate from 2019 to 2025. However, the calibration of flow meters is a time-consuming process, which poses to be a challenging factor for market growth.

The rapid urbanization across the developing countries in the Asia Pacific is triggering the need for adequate water and wastewater management and power generation. As a result, the market for flow meters in the water and wastewater application is expected to be high in the region. However, the labor skill issues regarding the operational processes of the smart flow meters along with the high initial costs associated with these advanced products are few of the factors that can hamper the growth of the market. Similarly, the lack of adequate calibration facilities in the MEA region and the MEA region’s political instability are the factors affecting the region’s consistent growth.

Product Insights

Based on product, the market has been segmented into differential pressure (DP), positive displacement (PD), magnetic, ultrasonic, Coriolis, turbine, vortex, and others. The others segment includes variable area, thermal, multiphase, and others. The magnetic flow meters have further been classified into wired and wireless magnetic flow meters. The magnetic flow meters segment held more than 25% of the total market share in 2018. Ultrasonic and Coriolis segments are anticipated to witness the high growth rate exceeding 8% from 2019 to 2025. These flow meters feature the integration of IoT, leading to the smart flow rate measurement solutions.

The differential pressure (DP) and positive displacement (PD) flow meters are conventional products for measuring flow rates. Whereas, magnetic flow meters would become an ideal choice for measurement applications in sectors such as pulp and paper, petrochemicals, food and beverage, and chemicals and petroleum refinement; owing to the product's reliability, accuracy, and cost-effectiveness. As a result, the magnetic segment is expected to gain a significant market share by 2025. Product innovations, such as two-wired and clamp-up flow meters, and wireless magmeters have created additional opportunities for the adoption of magnetic flow meters, particularly in the power generation, oil and gas, and water and wastewater management applications.

Application Insights

Based on application, the flow meters market has been segmented into oil and gas, power generation, water and wastewater, chemical, pulp and paper, food and beverage, and others. The oil and gas sub-segment is poised to witness substantial growth over the forecast period owing to the rapid growth of the industry. The development of shale gas reserves is also expected to boost the demand for the flow meters in oil and gas and chemical and petroleum refinement sectors. Flow meters are the prominent solutions to measure the flow rate in the upstream and downstream processes, custody transfer, measuring liquid hydrocarbons, and other refinery applications within the oil and gas and chemical industries of the MEA region.

Global flow meters market

Countries in Asia Pacific region, such as China, India, and Southeast Asian countries, are witnessing rapid urbanization and industrial development. This has triggered the need for adequate power generation, water supply, and wastewater treatment. Moreover, with the increasing population, more than 100 billion gallons of wastewater per day flow through the wastewater systems in the U.S. and Europe. The government investments towards wastewater treatment plants are significant in North America and the European region. As a result, water and wastewater segment held around 25.0% of the total market share in terms of revenue and is anticipated to exhibit a CAGR exceeding 6.0% from 2019 to 2025.

Regional Insights

Based on region, the market has been segmented into North America, Asia Pacific (APAC), Europe, MEA, and South America. North America is home to developed economies, such as the U.S. and Canada. Some of the prominent market players of the North American region include General Electric; Emerson Electric Corporation; and Honeywell International Inc.; therefore, the region holds a significant market share in terms of revenue. APAC region is anticipated to witness a substantial CAGR exceeding 7.0% from 2019 to 2025. The market in India and China is expected to escalate significantly over the forecast period owing to the continuous developments in the water and wastewater management.

In Europe, the adoption of flow meters is high in the power generation segment, which held a significant regional market share in 2018. The demand for magnetic, ultrasonic, and Coriolis products for oil and gas management is particularly expected to increase in the European region. Europe is home to numerous manufacturers and providers of flow rate measurement products and solutions, such as Endress+Hausar AG (Germany), Diehl Metering Germany, KROHNE Messtechnik, and ABB. Therefore, the Europe region accounted for the largest market share in 2018 and is expected to maintain its dominance over the forecast period.

Flow Meters Market Share Insights

Key industry participants are ABB (Switzerland), Emerson Electric Co. (U.S.), General Electric (GE) (U.S.), KROHNE Messtechnik (Germany), Höntzsch GmbH (Germany), and Siemens (Germany). A few leading industry participants are based in Asia Pacific. Vendors such as Yokogawa Electric Corporation, Toshiba, Tokyo Keiso Co., Ltd., and Tianjin Yihuan Automatic Instrument Technology Co., Ltd. are based in China and Japan. These companies are focusing on strategic geographic expansions through mergers and acquisitions across the market. Additionally, the industry players are continually investing in R&D to develop differentiated products and stay ahead of the competition. The report also includes competitive landscape for a holistic understanding of the rivalry among the industry players.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, South America, and MEA

Country scope

U.S., Canada, Mexico, U.K., Germany, France, Japan, China, India, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global flow meters market report based on product, application, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Differential Pressure (DP)

    • Positive Displacement (PD)

    • Magnetic

      • Wired

      • Wireless

    • Ultrasonic

    • Coriolis

    • Turbine

    • Vortex

    • Others

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Water & Wastewater

    • Oil & Gas

    • Chemicals

    • Power Generation

    • Pulp & Paper

    • Food & Beverage

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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