Flow Meters Market by Product (Differential Pressure (DP), Positive Displacement (PD), Magnetic, Coriolis, Ultrasonic, Turbine, Vortex, and Other Products); By Application (Water & Wastewater, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Food & Beverage, and Other Applications); By Geography (North America, Asia-Pacific, Europe, South America, and RoW), Industry Trends, Estimation & Forecast, 2018 – 2026

Market Overview

A flow meter is a device used to measure linear, non-linear, mass or volumetric flow rate of a liquid or a gas. Flow meters are mentioned to by several names, such as flow indicator, flow gauge, flow rate sensor, and liquid meter, among others depending on the particular industry. However, they all measure flow. Flowmeters consist of two primary devices, transducer, and transmitter. The transducer detects the fluid that passes through the primary device. The transmitter creates a usable flow signal from the raw transducer signal. These components are often combined so that the actual flowmeters may be one or more physical devices. Improving the accuracy, precision, and resolution of fluid measurement are the greatest benefits of the best flow meters.

Market Dynamics

Growing applications of flow meters in the oil & gas and water & wastewater industries primarily drives the growth of the global flowmeters market. Therefore manufacturers are extensively developing advanced flow meters to satisfy the demand of oil & gas, water & wastewater, and other end-user industries. For instance, KROHNE Messtechnik GmbH, developed magnetic resonance multiphase flow meters for the advanced multiphase measurement in the upstream oil and gas industry and a series of OPTIFLUX and WATERFLUX electromagnetic flowmeters for advanced water and wastewater applications. Another major factor facilitating the market growth of the flowmeter market is on-going production of digital flowmeters with enhanced accuracy and response rate along with latest communication protocols and self-diagnostic features for industries such as oil gas, water & wastewater, and mining industries. However, high initial costs associated with these devices, and unskilled labors to understand the operational processes of smart flow meters are the major factors limiting the growth of the global flow meters market. Moreover, rising penetration of IoT to intensify the need for smart flow rate management solutions. The deployment of IoT has eased the working nature of flow meters with more accuracy and less time required. Features such as reducing the requirements for server applications, saving on the development of analytical software, rapid functionality build-up for special requests, and new connectivity opportunities has surged the demand for IoT solutions in the flow meter technology.

Market Segmentation

The global technical textiles market is classified based on product, application, and geography. The product segment is segmented into the differential pressure (DP), positive displacement (PD), ultrasonic, magnetic, turbine, coriolis, vortex, and other products. The Coriolis sub-segment is expected to attain the fastest growth in the overall product segment. The Coriolis flowmeters are highly efficient to enhance reliability, and accuracy of liquid flow measurement. Moreover, widespread adoption in the chemicals, oil & gas, and refinery sectors has driven the demand for Coriolis flowmeters. The application segment is further classified on the basis of water & wastewater, chemicals, oil & gas, power generation, food & beverage, pulp & paper, and other applications. The water & wastewater sub-segment is expected to achieve the fastest CAGR throughout the forecast period owing to rapid industrialization and urbanization, particularly in regions such as APAC, Africa, and South America. These regions aggressively implement efficient solutions for the treatment, monitoring, control, and regulation of water supplies and management of wastewater, thereby boosting the demand for flowmeters solutions. In addition, the oil & gas segment is also witnessing a high growth as the flowmeters are largely used flow measurement of crude oil, and custody transfer among others that offers huge growth opportunities. Furthermore, geographical coverage has been offered for each of the major regions, including North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific holds the significant market potential market share and generated the highest revenues is the global flowmeters market. The market for APAC region is growing owing to the expansion of water infrastructure to support industry and residential development, and rapid growth of industrial as well as residential infrastructures. Moreover, developing nations such as China and India are making investments in energy and power, water & wastewater, refining, chemicals, and industrial infrastructure activities, thus encouraging the demand for flow meters. Key Market Players and Competitive Analysis The research report also helps to recognize the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. Few of the include ABB Ltd., Emerson Electric Co., Endress+Hauser Management AG, General Electric, Hitachi ltd., Honeywell International Inc., Höntzsch GmbH, KROHNE Messtechnik GmbH, Siemens AG, and Yokogawa Electric Corporation among others Prominent players are adopting product launch, partnerships/collaborations, agreements, investments, and acquisitions as their marketing strategies to sustain in the intense competition and improve their product portfolio. For instance, on April 04, 2019, Endress+Hauser Management AG introduced the Proline 300/500 flowmeter designed for the IIoT. The new Proline 300/500 line of measurement instruments signifies industry-optimized flow measurement technology with an extended field of application and enhanced performance. With Wi-Fi ability and additional retrievable instrument and process diagnostic parameters, the measurement point is equipped for the future, providing a high degree of process and product safety. Other valuable features in the series include HistoROM data management and Heartbeat Technology. Furthermore, on April 27, 2017, Yokogawa Electric Corporation launched the ADMAG Total Insight (TI) series, a new portfolio of electromagnetic Flowmeters. The ADMAG TI series comprises of the ADMAG AXW and ADMAG AXG the electromagnetic flowmeters. The ADMAG AXG is complete reshape of the ADMAG AXF and will accommodate bore diameters from 2.5 mm up to 500 mm, while the revamped ADMAG AXW will accommodate bore diameters ranging from 25 mm to 1800 mm.

Scope of the Global Flow Meters Market

By Product

• Differential Pressure (DP)
• Positive Displacement (PD)
• Ultrasonic
• Magnetic
• Turbine
• Coriolis
• Vortex
• Other Products

By Application

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

By Geography

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Korea
  • Rest of APAC
• Rest of the World
  • South America
  • Middle East
  • Africa