Flow Meter Market to Surpass US$ 11.0 Billion at a CAGR of 6.2% by 2028

Published February 25, 2023

According to the latest report by IMARC Group, “Flow Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global flow meter market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Flow Meter Market

A flow meter, also known as a flow gauge, refers to a device for monitoring and controlling of systems. It is widely available as positive displacement, thermal, Coriolis, electromagnetic, ultrasonic, turbine, vortex shedding, and differential pressure. It is utilized to measure the nonlinear, linear, mass or volumetric flow rate of a gas or a liquid. As it has low maintenance costs, the flow meter is employed in the oil and gas, chemicals, power generation, pulp and paper, metals and mining, pharmaceuticals, and food and beverage (F&B) industries across the globe.

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Flow Meter Market Trends and Drivers:

At present, the increasing demand for flow rate measurement in oil and gas applications around the world represents one of the key factors strengthening the market growth. In addition, the rising utilization of flow meters to treat wastewater is offering a positive market outlook. Apart from this, technological advancements in the flow meter, such as wireless monitoring and control, advanced sensors, and digital readouts, are propelling the growth of the market. Additionally, the increasing integration of the internet of things (IoT) in smart metering solutions, is offering lucrative growth opportunities to industry investors. Furthermore, key players are introducing a versatile ultrasonic flow energy meter for non-invasive and ultrasonic transit time measurement, which is supporting the growth of the market.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product Type:

  • Analog Flow Meter
  • Smart Flow Meter

Breakup by Application:

  • Residential
  • Industrial
  • Commercial

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • ABB Group
  • Emerson Electric Co.
  • Siemens AG
  • Schneider Electric SE
  • Saison Information Systems Co., Ltd.

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