Flow Meters Market Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2028

Market Overview:
The global Flow Meters Market was valued at USD 6.88 Billion in 2021 and is expected to reach USD 10.64 Billion by the year 2028, at a CAGR of 6.43%.

A flow meter or a flow sensor is a type of flow instrument that is primarily used to indicate the flow rate of liquid, gas, or vapor moving through a pipe. It measures linear, non-linear, mass, or volumetric flow rates. Depending on the nature of the application there are different types of flow meters that can be utilized. There are many types of flowmeters. Each type measures the flow rate of a fluid in a different way. The main types of flowmeters are differential pressure flowmeters, velocity flowmeters, positive displacement flowmeters, mass flowmeters, and open-channel flowmeters. Technological advancements such as digital readouts, wireless monitoring and control, and digital readouts are expected to drive the growth of the market.

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Market Dynamics:

Driver:
In industries, such as oil, gas, and chemical the need for flow meters is increased. Flow meters are being used in wastewater treatment by quantifying the flow of water. Moreover, the increased focus on water and wastewater treatment around the world is driving the growth of the market. Increasing urbanization across developing countries in the Asia Pacific increases the need for adequate water and wastewater management and power generation.

Opportunities:
In the upcoming years, much new manufacturing is excepted to come so the demand for flow meters is excepted to increase. The industry participants address the demand in increasing economies. The key market players are incorporating strategies, like extension and joint venture, to raise their production capacities, improve their competitiveness, and for better penetration in developing regions. New product innovations such as clamp-up and two-wired products and wireless magnetic meters are created more opportunities for flow meters.

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Market Segmentation
Segmentation Insights
Based on Technology, the Coriolis segment accounted for the largest market share, of 31.47%, in 2020. The Ultrasonic segment is expected to witness the highest CAGR over the forecast period.

Based on the End-User Industry, the Chemicals and Petrochemicals segment accounted for the largest market share, of 27.28%, in 2020. Moreover, the food and beverage segment is expected to witness the highest CAGR over the forecast period.

By Technology
• Coriolis
• Electromagnetic
• Differential Pressure
• Ultrasonic
• Others

By End-User
• Oil & Gas
• Water & Wastewater
• Chemical & Petrochemical
• Food & Beverage
• Power Generation
• Pulp & Paper
• Other

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Regional Insights
The North American region accounted for a share of 32.78% of the market studied in 2020. The Asia-Pacific region is expected to witness the fastest growth, recording the highest CAGR over the forecast period. The United States is one of the prominent regulated nations after European countries. The oil and gas, water and wastewater, and renewable energy industries are the key consumers for the flowmeter market.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in Flow Meters market are :
• ABB Ltd
• Siemens AG
• Bronkhorst High-Tech BV
• Honeywell International Inc.
• Emerson Electric Co.
• SICK AG
• Omega Engineering Inc. (Spectris PLC)
• Christian Bürkert GmbH & Co. KG
• TSI Incorporated
• Keyence Corporation
• Sensirion AG
• Azbil Corporation
• Endress+Hauser AG
• KROHNE Messtechnik GmbH and Other major Players.

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Key Industry Developments
In August 2020, AW-Lake launched the latest series of Clamp-On Ultrasonic Flow Meters that can be secured on the outside of vertical or horizontal pipes ranging in size from ½" through 48". Housed in a water- and dust-tight NEMA 4X polycarbonate inclusion, these Clamp-On Ultrasonic Flow Meters are well suited with an extensive range of metal and plastic pipe materials and difficult liquids like chemicals, viscous liquids, and abrasives that would damage the standard flow meters.

In July 2020, KROHNE, a producer and solutions provider in the industrial process instrumentation, declared its DK32 variable area flowmeter which was made accessible with an electrical signal output. This latest version of the DK32/ESK3x with 4-20mA/HART 7 communication can be utilized for various applications such as continuous monitoring, logging, or control of low flow applications with liquids and gases.

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