Flow Meter Market Size, Share & Trends Report

Flow Meter 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, 2021 - 2028

  • Published Date: Mar, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-2-68038-150-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 100

Report Overview

The global flow meter market size was valued at USD 8.29 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 5.70% from 2021 to 2028. The increasing demand for flow rate measurement in oil and gas management applications across the globe is expected to drive market growth. 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 over the forecast period. The adoption of flow meters would be particularly significant in the oil and gas, and chemical and petroleum refinery sectors owing to the recent detection of shale gas reserves in North America, Europe, and Asia Pacific.

North America flow meters market size, by product, 2016 - 2028 (USD Billion)

The demand for intelligent flow meters is expected to increase over the foreseeable period as the integration of the Internet of Things (IoT) has led to the introduction of smart flow rate measurement solutions. The demand for Coriolis flow meters is estimated to increase on account of its enhanced smart capabilities to measure the flow rate more accurately. The players in the flow meters 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, custody transfer in the oil and gas sector is one of the key applications creating lucrative opportunities for 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 flow meters market over the forecast period. Manufacturers of flow meters are increasingly adopting IoT sensors for smart metering solutions. The advanced approach of IoT enables 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 2021 to 2028. However, the calibration of flow meters is a time-consuming process, which is expected to pose a challenge for market growth.

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

In the wake of the recent COVID-19 outbreak, there has been a significant disturbance in most industries across the globe. Industries such as oil & gas, chemicals, metals & mining, pulp & paper, and food & beverages globally have been adversely impacted in pandemic due to the disruption of the supply chain, closedown of plants, and a subsequent decline in demand for products offered by these industries. Similarly, the outbreak in its initial phase significantly impacted the overall market as these were less adopted by the above-mentioned industries for the short term.

Product Insights

The magnetic flowmeters segment held the largest revenue share of approximately 24% of the total market share in 2020. Magnetic flowmeters have further been classified into wired and wireless magnetic flowmeters. Ultrasonic and Coriolis segments are anticipated to witness a high growth rate exceeding 7.5% from 2021 to 2028. These flowmeters feature the integration of IoT, leading to the smart flow rate measurement solutions.

Differential pressure (DP) and positive displacement (PD) flow meters are conventional products for measuring flow rates. On the other hand, magnetic flow meters are ideal for measurement applications in sectors such as pulp and paper, petrochemicals, food and beverage, and chemicals and petroleum refinement owing to the reliability, accuracy, and cost-effectiveness of these meters. As a result, the magnetic segment is expected to gain a significant market share through 2028. Product innovations such as two-wired and clamp-up flow meters and wireless magnetic meters (also known as magmeters) have created additional opportunities for the adoption of magnetic flow meters. These flow meters are widely used in applications such as power generation, oil and gas, and water and wastewater management.

Application Insights

The oil & gas segment is expected to emerge as the fastest-growing segment, registering a CAGR of 6.62% from 2021 to 2028 owing to the rapid growth of the industry. The development of shale gas reserves is also expected to boost the demand for flow meters in the oil and gas and chemical and petroleum refinement sectors. Flow meters are an effective solution to measure the flow rate of upstream and downstream processes, custody transfer, and liquid hydrocarbons within the oil and gas and chemical industries.

Global flow meters market share, by application, 2020 (%)

Countries in the 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, approximately 34.0 billion gallons of wastewater are processed per day in the U.S. alone, according to the Environmental Protection Agency (EPA). Government investments in wastewater treatment plants are significant in the North American and European regions. As a result, the water and wastewater segment accounted for a share of around 24.0% of the total market and is anticipated to register a CAGR exceeding 6.0% from 2021 to 2028.

Regional Insights

Europe dominated the flow meter market and accounted for over 35% of the global revenue share in 2020, followed by North America. In Europe, the adoption of flow meters is high in the power generation segment, contributing to the regional market growth. The demand for magnetic, ultrasonic, and Coriolis flow meters for oil and gas management is 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, Krohne Messtechnik GmbH, and ABB Ltd. Therefore, Europe accounted for the largest market share in 2020, and this trend is expected to continue through the forecast period.

Some of the prominent market players in North America include General Electric; Emerson Electric Corporation; and Honeywell International Inc.; therefore, the region holds a significant market share in terms of revenue. APAC is anticipated to witness a substantial CAGR exceeding 7.0% from 2021 to 2028. The market in India and China is expected to witness significant growth over the forecast period owing to continuous developments in the water and wastewater management sector.

Key Companies & Market Share Insights

Key industry participants are ABB Ltd., Emerson Electric Corporation, General Electric, Krohne Messtechnik Gmbh, HÖNTZSCH GMBH & CO. KG, Hitachi High-Tech Corporation, and Siemens. A few leading industry participants are based in the Asia Pacific. Players 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 partnerships and collaborations and mergers and acquisitions. For instance, in December 2017, Hitachi High-Tech Corporation entered into a strategic partnership agreement with Flutura Business Solutions Pvt. Ltd. (U.S.), an Industrial IoT company. This collaboration helped the former provide cost-efficient solutions to customers. Additionally, industry players are continually investing in R&D to develop differentiated products and stay ahead of the competition. The report also includes a competitive landscape for a holistic understanding of the rivalry among the industry players. Some prominent players operating in the flow meter market include:

  • ABB Ltd.

  • Emerson Electric Corporation

  • em-tec GmbH

  • Endress+Hausar AG

  • General Electric

  • Hitachi High-Tech Corporation

  • Honeywell International Inc.


  • Krohne Messtechnik Gmbh

  • Siemens

  • Yokogawa Electric Corporation

Flow Meter Market Report Scope

Report Attribute


Market size value in 2021

USD 8.82 billion

Revenue forecast in 2028

USD 12.99 billion

Growth Rate

CAGR of 5.7% from 2021 to 2028

Base year for estimation


Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD Million and CAGR from 2021 to 2028

Report coverage

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

Segments Covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

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

Key companies profiled

Emerson Electric Corporation; General Electric; Krohne Messtechnik GmbH; Hitachi High-Tech Corporation; ABB Ltd.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

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 2016 to 2028. For this study, Grand View Research has segmented the global flow meter market report based on product, application, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Differential Pressure (DP)

    • Positive Displacement (PD)

    • Magnetic

      • Wired

      • Wireless

    • Ultrasonic

    • Coriolis

    • Turbine

    • Vortex

    • Others

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Water & Wastewater

    • Oil & Gas

    • Chemicals

    • Power Generation

    • Pulp & Paper

    • Food & Beverage

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • South America

      • Brazil

    • Middle East & Africa

Frequently Asked Questions About This Report

gvr icn


gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

BBB icon D&B icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.