Increasing investments in refining, chemicals, and energy & power, rising industrial infrastructure activities, growing pharmaceutical industry, rapid urbanization coupled with rising need for adequate water and wastewater management to drive global flow meter market through 2025
According to TechSci Research report, “Global Flow Meter Market By Type , By End- Use, By Region, Competition, Forecast & Opportunities, 2025”, the global flow meter market was valued at $ 7.7 billion in 2019 and is expected to witness a decline in 2020 on account of COVID-19 pandemic. With manufacturing sector having temporarily stopped operations across the globe, the COVID-19 outbreak is expected to significantly impact the global flow meter market, which is anticipated to decline by over 25% in 2020. Nevertheless, the global flow meter market is expected to recover from 2021 onwards and witness consistent growth until 2025. Huge investments in refining, chemicals, energy & power industries, growing industrial infrastructure activities and rapid urbanization will significantly contribute to enhance the demand for flow meters across the globe.
The global flow meter market can be segmented based on type, end-use and region. In terms of type, the market can be categorized into Magnetic, Coriolis, Ultrasonic, Differential Pressure, Positive Displacement, Turbine, and Vortex. The Ultrasonic flow meter segments is the fastest-growing segment of the flow meters market on account of their low maintenance and reliability. These meters are accurate and can be used for custody transfer of petroleum and natural gas.
Browse 118 market data Figures spread through160 Pages and an in-depth TOC on“Global Flow Meter Market “
ABB Limited, Emerson Electric Company, Siemens AG, Honeywell International Inc, General Electric Company, Schneider Electric, Badger Meter Inc., Azbil Corporation, Endress + Hauser, and Yokogama Electric Corporation are among the leading players operating in the global flow meter market. Companies operating in the market are using organic strategies such as product launches, as well as mergers and collaborations for increasing value generation, cost efficiency and market share. In September 2019, Badger Inc. introduced Dynasonics® TFX-5000, a versatile Ultrasonic & Energy meter for use in wastewater treatment & oil and gas applications. In July 2019, Emerson acquired software and automation business of Zedi to expand its product portfolio to oil and gas industry.
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“Asia-Pacific was the largest market for flow meter in 2019, and the same trend is anticipated to continue over the next five years as well, due to surging demand from growing economies, especially China and India. Rapid urbanization across developing countries in APAC drives the need for proper water and wastewater management as well as power generation. As a result, demand for flow meters in water and wastewater application is expected to remain high in the region until 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm
“Global Flow Meter Market By Type , By End- Use, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global flow meter market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global flow meter Market.
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