Flow Meters Market Size, Share, and Trends

Flow Meters Market (By Product: Positive Displacement (PD), Differential Pressure (DP), Vortex, Ultrasonic, Magnetic, Turbine, Coriolis, and Others; By Application: Oil & Gas, Water & Wastewater, Power Generation, Chemicals, Food & Beverage, Pulp & Paper, and Others) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2024 - 2032

  • Last Updated : February 2024
  • Report Code : 1069
  • Category : Semiconductor and Electronic

The global flow meters market was valued at USD 10.28 billion in 2023 and is expected to reach USD 21.78 billion by 2032 and is poised to grow at a compound annual growth rate (CAGR) of 8.7% during the forecast period 2024 to 2032.

Flow Meters Market Size 2024 to 2032

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Key Takeaways

  • Europe dominated the global market with the highest market share of 32.21% in 2023.
  • Asia-Pacific is expected to expand at the largest CAGR of 9.1% between 2024 and 2032.
  • By Product, the differential pressure (DP) segment held the largest market share of 28.34% in 2023.
  • By Application, the power generation segment dominated the global risk analytics market in 2023.
  • By Application, the oil & gas segment is projected to expand at the fastest CAGR of 9.2% in the projected period.

Flow Meters Market in the Europe 2024-2032

The Europe flow meters market size was valued at USD 3.31 billion in 2023 and is estimated to reach around USD 7.19 billion by 2032, growing at a CAGR of 9% from 2024 to 2032.

Europe Flow Meters Market Size 2024 To 2032

In 2023, Europe dominated the global flow meters market in terms of revenue and followed by the North America. Rising adoption of flow meters in the power generation sector contribute prominently towards the growth of the region. Further, the region is a hub of large number of flow meter manufacturers that include KROHNE Messtechnik, Diehl Metering Germany, Endress+Hausar AG, and ABB. As a result, the region expected to maintain its dominance also during the forecast period.

However, the Asia Pacific encountered as the most lucrative region with a growth rate of around 9.1% during the analysis period. This is mainly due to continuous development in the water and waste water management industry.

Flow Meters Market Share, By Region, 2023 (%)

Growth Factors

Increasing demand for flow measurement devices in the oil & gas application expected to propel the overall market growth in the coming years. The adoption of flow measurement technologies in other sectors as well predicted to gain traction such as power generation, water and wastewater, and pulp and paper over the analysis period. Recently, shale gas reserves were detected in North America, Asia Pacific, and Europe that has significantly spurred the demand of flow meters in chemical & petroleum refinery, and oil & gas sectors.

Integration of Internet of Things (IoT), advanced sensors, digital readouts, and wireless monitoring & control in flow meters have enabled smart metering solutions and anticipated to flourish the market growth over the coming years. Adoption of IoT in flow meters has facilitated automatic meter reading that remotely and automatically collects the data required.

On the other hand, calibration of flow meters consumer large amount time that expected to hinder the growth of the market. Presently, market is trending towards the adoption of speedy and automatic solutions that save time and effort both, thus time consuming solutions in flow meters predicted to restrict its growth.

Flow Meters Market Scope

Report Highlights Details
Growth Rate from 2024 to 2032 CAGR of 8.7%
Market Size in 2023 USD 10.28 Billion
Market Size by 2032 USD 21.78 Billion
Largest Market Europe
Fastest Growing Market Asia Pacific
Base Year 2023
Forecast Period 2024 to 2032
Segments Covered Product, Application, Region
Companies Mentioned Emerson Electric Co., ABB Ltd., em-tec GmbH, General Electric, Endress+Hauser Management AG, Hitachi, Ltd., Höntzsch GmbH, Honeywell International, Inc., KROHNE Messtechnik GmbH, VSE Volumentechnik GmbH, Siemens

 

Product Insights

The differential pressure segment held the dominating share of the flow meters market in 2023. Differential pressure flow meters are versatile and can be used in a wide range of applications across different industries, including oil and gas, water and wastewater, chemicals, pharmaceuticals, and more. This versatility contributes to their widespread adoption. These flow meters offer a wide measurement range, allowing them to accurately measure flow rates across various flow velocities and fluid viscosities. This makes them suitable for both low-flow and high-flow applications.

Flow Meters Market Share, By Product, 2023 (%)

Differential pressure flow meters have been used for decades and have a long track record of reliability and accuracy. This proven technology instills confidence in users, making them a preferred choice for critical applications where accuracy is paramount.

Application Insights

The power generation segment led the flow meters market in 2023, the segment is observed to witness significant growth during the forecast period. Power generation facilities, including coal, natural gas, nuclear, and renewable energy plants, require precise monitoring of fluid flow rates to ensure optimal operation and efficiency. Flow meters are essential instruments for measuring the flow of water, steam, fuel, and other fluids within power generation systems. Power generation facilities are subject to stringent regulatory requirements and environmental standards. Flow meters help ensure compliance with regulations by accurately monitoring fluid flow rates, emissions, and pollutant levels, enabling operators to maintain environmental compliance and avoid costly penalties.

Flow Meters Market Share, By Application, 2023 (%)

Key Companies & Market Share Insights

Major industry players in the global flow meters market are significantly focusing on the inorganic growth strategies such as merger & acquisition, geographic expansion, and others. In addition, they also invest notably in the research & development of the new and advanced products & solutions to maintain their competitive edge in the global market. Further, rising adoption of intelligent flow meters in the chemicals, petroleum, oil & gas, and water & wastewater management industries offer manufacturers prominent opportunity to grab significant customers by catering their requirement.

Major market players competing in this sector are as follows:

  • Emerson Electric Co.
  • ABB Ltd.
  • em-tec GmbH
  • General Electric
  • Endress+Hauser Management AG
  • Hitachi, Ltd.
  • Höntzsch GmbH
  • Honeywell International, Inc.
  • KROHNE Messtechnik GmbH
  • VSE Volumentechnik GmbH
  • Siemens
  • Yokogawa Electric Corporation

Segments Covered in the Report

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2021 to 2032. This report contains market breakdown and its revenue estimation by classifying it on the basis of product, application, and region:

By Product

  • Positive Displacement (PD)
  • Differential Pressure (DP)
  • Vortex
  • Ultrasonic
  • Magnetic
    • Wireless
    • Wired
  • Turbine
  • Coriolis
  • Others

By Application

  • Oil & Gas
  • Water & Wastewater
  • Power Generation
  • Chemicals
  • Food & Beverage
  • Pulp & Paper
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Frequently Asked Questions

The global flow meters market size was valued at USD 10.28 billion in 2023 and expected to be worth around USD 21.78 billion by 2032.

The global flow meters market is expected to grow at a compound annual growth rate (CAGR) 8.7% during the forecast period 2024 to 2032.

Increasing demand for flow measurement devices in the oil & gas application expected to propel the overall market growth in the coming years.

The differential pressure (DP) segment captured a value share of approximately 28.34% in the year 2023.

Some of the key players operating in the flow meters market are Emerson Electric Co., ABB Ltd., em-tec GmbH, General Electric, Endress+Hauser Management AG, Hitachi, Ltd., Höntzsch GmbH, Honeywell International, Inc., KROHNE Messtechnik GmbH, VSE Volumentechnik GmbH, Siemens, and Yokogawa Electric Corporation among others.

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Flow Meters Market, By Product

7.1. Flow Meters Market, by Product Type, 2024-2032
7.1.1. Positive Displacement (PD)
7.1.1.1. Market Revenue and Forecast (2021-2032)
7.1.2. Differential Pressure (DP)
7.1.2.1. Market Revenue and Forecast (2021-2032)
7.1.3. Vortex
7.1.3.1. Market Revenue and Forecast (2021-2032)
7.1.4. Ultrasonic
7.1.4.1. Market Revenue and Forecast (2021-2032)
7.1.5. Magnetic (Wireless, Wired)
7.1.5.1. Market Revenue and Forecast (2021-2032)
7.1.6. Turbine
7.1.6.1. Market Revenue and Forecast (2021-2032)
7.1.7. Coriolis
7.1.7.1. Market Revenue and Forecast (2021-2032)
7.1.8. Others
7.1.8.1. Market Revenue and Forecast (2021-2032)

Chapter 8. Global Flow Meters Market, By Application

8.1. Flow Meters Market, by Application, 2024-2032
8.1.1. Oil & Gas
8.1.1.1. Market Revenue and Forecast (2021-2032)
8.1.2. Water & Wastewater
8.1.2.1. Market Revenue and Forecast (2021-2032)
8.1.3. Power Generation
8.1.3.1. Market Revenue and Forecast (2021-2032)
8.1.4. Chemicals
8.1.4.1. Market Revenue and Forecast (2021-2032)
8.1.5. Food & Beverage
8.1.5.1. Market Revenue and Forecast (2021-2032)
8.1.6. Pulp & Paper
8.1.6.1. Market Revenue and Forecast (2021-2032)
8.1.7. Others
8.1.7.1. Market Revenue and Forecast (2021-2032)

Chapter 9. Global Flow Meters Market, Regional Estimates and Trend Forecast

9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2021-2032)
9.1.2. Market Revenue and Forecast, by Application (2021-2032)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.1.3.2. Market Revenue and Forecast, by Application (2021-2032)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.1.4.2. Market Revenue and Forecast, by Application (2021-2032)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.2. Market Revenue and Forecast, by Application (2021-2032)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.3.2. Market Revenue and Forecast, by Application (2021-2032)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.4.2. Market Revenue and Forecast, by Application (2021-2032)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.5.2. Market Revenue and Forecast, by Application (2021-2032)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.6.2. Market Revenue and Forecast, by Application (2021-2032)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.2. Market Revenue and Forecast, by Application (2021-2032)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.3.2. Market Revenue and Forecast, by Application (2021-2032)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.4.2. Market Revenue and Forecast, by Application (2021-2032)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.5.2. Market Revenue and Forecast, by Application (2021-2032)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.6.2. Market Revenue and Forecast, by Application (2021-2032)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.2. Market Revenue and Forecast, by Application (2021-2032)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.3.2. Market Revenue and Forecast, by Application (2021-2032)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.4.2. Market Revenue and Forecast, by Application (2021-2032)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.5.2. Market Revenue and Forecast, by Application (2021-2032)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.6.2. Market Revenue and Forecast, by Application (2021-2032)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2021-2032)
9.5.2. Market Revenue and Forecast, by Application (2021-2032)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.5.3.2. Market Revenue and Forecast, by Application (2021-2032)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.5.4.2. Market Revenue and Forecast, by Application (2021-2032)

Chapter 10. Company Profiles

10.1. Emerson Electric Co.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. ABB Ltd.
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. em-tec GmbH
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. General Electric
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Endress+Hauser Management AG
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Hitachi, Ltd.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Höntzsch GmbH
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Honeywell International, Inc.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. KROHNE Messtechnik GmbH
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. VSE Volumentechnik GmbH
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
10.11. Siemens
10.11.1. Company Overview
10.11.2. Product Offerings
10.11.3. Financial Performance
10.11.4. Recent Initiatives
10.12. Yokogawa Electric Corporation
10.12.1. Company Overview
10.12.2. Product Offerings
10.12.3. Financial Performance
10.12.4. Recent Initiatives

Chapter 11. Research Methodology

11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions

Chapter 12. Appendix

 

12.1. About Us
12.2. Glossary of Terms

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