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, 2018 - 2025

  • Published Date: Apr, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-150-4
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2015
  • Number of Pages: 167

Industry Insight

The global flow meters market size was valued at USD 6.6 billion in 2016 and is anticipated to exhibit a CAGR of 5.98% from 2017 to 2025. Rising demand for flow rate measurement in water and wastewater management applications across the globe is expected to drive market growth over the forecast period. Adoption of flow rate measurement technologies and instruments is also likely to gain traction in other sectors, such as oil and gas, pulp and paper, food and beverage, and power generation.

U.S. flow meter market

Adoption of these meters is expected to be particularly significant in the oil and gas and chemicals and petroleum refinery sectors owing to recent detection of shale gas reserves in North America, Europe, and Asia Pacific.

Incumbents in the market for flow meters are particularly targeting the oil and gas sector and investing aggressively to offer innovative products and solutions to measure flow rate of liquids, gases, and vapors. Demand for intelligent meters is expected to increase over the forecast period owing to integration of IoT, which has led to introduction of smart flow rate measurement solutions. The magnetic segment accounted for the largest share in 2017, with ultrasonic and Coriolis segments anticipated to witness high growth over the forecast period.

Europe held the largest market share in 2016 owing to significant presence of key market players and solution providers. The Asia Pacific market is poised to be exhibit the fastest growth rate over the forecast period, particularly due to rapid urbanization that is triggering the need for adequate power generation and water and wastewater management.

However, unskilled labor, lack of understanding pertaining to operational processes of smart flow meters, and high initial costs associated with these advanced products are factors likely to threaten market growth. Similarly, lack of adequate calibration facilities in MEA, coupled with political instability in the region, will adversely impact the region’s 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 comprises variable area, thermal, and multiphase. Magnetic flow meters have further been classified into wired and wireless.

Differential pressure (DP) and positive displacement (PD) meters happen to be conventional products, whereas, magnetic flow meters are an ideal choice for liquid flow measurement in sectors such as pulp and paper, petrochemicals, food and beverage, and chemicals and petroleum refinement. This is owing to their reliability, accuracy, and cost-effectiveness. Hence, the magnetic segment is expected to gain a significant share in the flow meter market over the forecast period. Product innovations, such as two-wired and clamp-up meters and wireless magmeters, have created additional opportunities for magnetic flow meters, particularly in the power generation, water and wastewater management, and oil and gas applications.

Integration of IoT in the product category has led to introduction of smart flow rate measurement solutions. As a result, ultrasonic and Coriolis smart meters are also being increasingly adopted for various industry applications. The Coriolis segment is expected to register the highest CAGR over the coming years.

Application Insights

Based on application, the market has been segmented into oil and gas, power generation, water and wastewater, chemical, pulp and paper, food and beverage, and others. The water and wastewater segment is poised to witness strong growth over the forecast period owing to rapid urbanization.

The Asia Pacific regional market is expected to report a high demand for flow meters in water and wastewater management applications. Countries such as China, India, and those in Southeast Asia are witnessing rapid urbanization and industrial development, which has triggered the need for adequate power generation, water supply, and wastewater treatment. Therefore, the power generation and water and wastewater segments are anticipated to grow significantly over the forecast period.

Global flow meter market

In North America and Europe, flow meters are expected to be increasingly deployed in the power generation sector owing to presence of a mature and developed industrial sector. Development of shale gas reserves is also expected to boost demand for these meters in oil and gas and chemical and petroleum refinement sectors.

In Middle East and Africa, a mature oil and gas sector is creating lucrative opportunities for flow rate measurement solutions. Flow meters are likely to be particularly deployed for upstream and downstream processes, custody transfer, measurement of flow rate of liquid hydrocarbons, and other refinery applications falling under the oil and gas and chemicals sectors.

Regional Insights

Based on region, the market has been segmented into North America, Asia Pacific (APAC), Europe, MEA, and South America. The North American region is home to developed economies such as U.S. and Canada. Some of the prominent market players, such as General Electric; Emerson Electric Corporation; and Honeywell International Inc., are based in the region. These companies are focusing on strategic expansions via mergers and acquisitions as well as innovative product launches.

In Europe, these meters are particularly adopted for water and wastewater management. Demand for magnetic, ultrasonic, and Coriolis products for water and wastewater management is particularly expected to increase in the 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. As a result, the Europe market accounted for the largest share in 2016 and is expected to grow consistently over the forecast period.

In APAC, demand for flow meters is anticipated to grow remarkably over the forecast period, particularly for water and wastewater management, in line with rapidly growing urbanization. As such, the ultrasonic and Coriolis segments are likely witness significant growth over the forecast period. The market in India is anticipated to escalate significantly over the forecast period owing to need arising from water and wastewater management, on the heels of rapid urbanization in the country.

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.

In MEA, oil and gas and petroleum and chemicals sectors are among leading adopters of flow meters. Stream rate measurement solutions are particularly crucial for the oil and gas sector.

Flow Meter Market Share Insights

Key industry participants include ABB (Asea Brown Boveri) Ltd. (Switzerland), Emerson Electric Co. (U.S.), General Electric (GE) (U.S.), KROHNE Messtechnik (Germany), Höntzsch GmbH (Germany), and Siemens AG (Germany). Industry players are constantly investing in R&D to develop differentiated products and stay ahead of the competition.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 & 2015

Forecast period

2017-2025

Market representation

Revenue in USD Million & CAGR from 2017 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 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 meter market report based on product, application, and region:

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

    • Differential Pressure (DP)

    • Positive Displacement (PD)

    • Magnetic

    • 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

    • The Middle East & Africa

Key questions answered by the report
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