Flow Meters Market Size, Share & Trends Analysis Report By Product, By Application (Water & Wastewater, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Food & Beverage), By Region, and Segment Forecasts, 2020 - 2027

Published: Feb, 2020 | Pages: 100 | Publisher: Grand View Research
Industry: Electronics | Report Format: Electronic (PDF)

The global flow meter market size is estimated to reach USD 12.3 billion by 2027, registering a CAGR of 5.8% over the forecast period, according to a new report by Grand View Research, Inc. The penetration of IoT has helped the evolution of smart flow rate measurement solutions, leading to an increased demand for intelligent flow meters. The adoption of flow meters is expected to increase as rapid urbanization triggers the need for better water and wastewater management.

The market has been segmented on the basis of product, application, and region. Based on product, the market has been classified into Differential Pressure (DP), Pressure Displacement (PD), magnetic, ultrasonic, Coriolis, turbine, vortex, and others (variable area, multiphase, thermal, and others). The magnetic segment accounted for the largest share of the global flow meters market in 2019. However, the ultrasonic and Coriolis segments are expected to grow at the highest rate over the forecast period owing to the advancements in technology that have made ultrasonic and Coriolis flow meters more reliable and accurate than their counterparts.

Coriolis meters enhance the reliability, accuracy, and efficiency of liquid flow rate measurement. Furthermore, the integration of IoT in flow rate measurement solutions has helped transform Coriolis meters into intelligent flow meters. Hence, the adoption of these meters is expected to grow significantly over the forecast period. Extensive adoption of Coriolis flow meters by the oil & gas, chemical, and refinery sectors is projected to drive the growth of the overall product segment over the forecast period.

Based on application, the flow meters market has been segmented into oil and gas, power generation, water and wastewater management, chemical, pulp and paper, food and beverage, and other application sectors. The water and wastewater segment is expected to witness robust growth over the forecast period owing to rapid urbanization in various parts of the world, particularly in Asia Pacific, South America, and Africa. These regions have aggressively started to adopt efficient solutions for the treatment, control, monitoring, and regulation of water supplies and management of wastewater, thereby driving the demand for flow rate measurement solutions and instruments.

On the basis of region, the market has been segmented into North America, Asia Pacific (APAC), Europe, South America, and Middle East and Africa (MEA). Europe dominated the global market in 2019 as the region is home to several manufacturers and product innovators of flow rate measurement solutions and services, including flow meters. However, APAC is expected to witness the highest growth rate over the forecast period owing to the rapid urbanization underway in APAC countries, which would subsequently trigger the need for adequate power generation and efficient water and wastewater management. The market in India is likely to witness a significant boost over the forecast period on account of the growing need for expanding fuel refining capacity in the country.

With emerging economies in Asia Pacific such as China, India, and other Southeast Asian nations witnessing rapid industrialization, regional manufacturers and providers of flow rate measurement solutions are forming collaborations and partnerships with global players to cash in on opportunities prevailing in the regional as well as global markets. Regional players are also improving their customer engagement activities and enhancing their portfolio of products and services.

General Electric (U.S.), ABB Ltd. (Switzerland), Emerson Electric Co. (U.S.), Yokogawa Electric Corporation (Japan), and Hitachi Ltd. (Japan) are some of the major providers and vendors of flow rate measurement solutions. Market players are constantly emphasizing on product innovation and enhancing their products and solutions. With the lucrative opportunities the oil and gas, petroleum, chemicals, and water and wastewater management sectors offer, manufacturers focus on meeting the various requirements of these sectors in particular.

Apart from the analysis of the global market for flow meters, the report analyzes the facts and key industry trends prevailing in custody transfer application, which is one of the prominent applications of flow meters in the oil and gas sector. The report also highlights how the unstable dynamics of the oil and gas sector would affect the adoption of flow meters worldwide.

Strategic profiling of the prominent industry participants across the globe highlights various aspects of these players such as company overview; financial performance; product categorization with their features, applications, and types; and strategic and recent developments, which have been covered in the research report. Moreover, the report offers an extensive list of other industry players operating in the market, value chain analysis, as well as product mapping of prominent vendors and manufacturers of flow meters. Overall, the study offers in-depth analysis, insights, and a holistic view of the entire market.

Further key findings from the report suggest:

• Water and wastewater is likely to dominate the application segment through the forecast period owing to the increasing initiatives taken by several governments for water and wastewater management

• Businesses in Middle Eastern countries such as Iran, Iraq, and Syria are highly vulnerable to political instability. Businesses in other Middle Eastern countries such as UAE, Saudi Arabia, Oman, and Qatar focus on expanding their presence by establishing friendly relations with eminent manufacturers in Western countries

• One of the key factors supporting the product demand over the forecast period is the integration of IoT in flow meters, which has led to the introduction of smart flow rate measurement solutions

• Custody transfer application in the oil and gas sector is one of the key applications creating lucrative opportunities for ultrasonic and Coriolis flow meters

• Asia Pacific is expected to grow at the fastest rate over the forecast period owing to substantial demand and adoption of flow meters in various application sectors, particularly in China, India, and Southeast Asian countries

• Flow meter market key participants are ABB (Asea Brown Boveri) Ltd., Emerson Electric Co., General Electric (GE), KROHNE Messtechnik, Hontzsch GmbH, Siemens AG, Hitachi, Ltd., and Yokogawa Electric Corporation

 Table of Contents

Chapter 1 Methodology and Scope
                    1.1 Market Segmentation
                    1.2 Report Scope and Assumptions
                    1.3 Research Methodology
                    1.4 List of Data Sources

Chapter 2 Executive Summary
                    2.1 Summary
                         2.1.1 Key Industry Trends
                         2.1.2 Custody Transfer
                    2.2 Recovery of Oil & Gas Sector and Flow Meters Market Trends
                    2.3 History and Evolution of Flow Meters
                    2.4 Installation Procedures and Standardization Norms of Flow Meters in Different Application Sectors
                         2.4.1 Installation
                         2.4.2 Standards
                    2.5 Flow Meters Market - Industry Outlook
                    2.6 Flow Meters Market - Segmental Outlook

Chapter 3 Market Variables, Trends & Scope
                    3.1 Flow Meters Market Dynamics
                         3.1.1 Market Driver Analysis
                              3.1.1.1 Growing penetration of advanced flow meters in the oil & gas sector and water & wastewater management
                              3.1.1.2 Growing adoption of smart and intelligent flow meters in high-end application sectors
                              3.1.1.3 Penetration of IoT in flow rate measurement solutions
                         3.1.2 Market restraint analysis
                              3.1.2.1 High initial investment associated with smart flow rate measurement solutions
                         3.1.3 Market Opportunity analysis
                              3.1.3.1 Increasing adoption of flow rate measurement solutions across process automation applications in Asia Pacific region
                         3.1.4 Market Challenge analysis
                              3.1.4.1 Technological advancement leading to the evolution of alternative solutions to flow meters
                    3.2 Penetration and Growth Prospect Mapping
                    3.3 Flow Meters Market - Key Company Analysis, 2019
                    3.4 List of Industry Player involved in Flow Meters Market
                    3.5 Flow Meters - Value Chain Analysis
                    3.6 Flow Meters Market Analysis - Porter's
                    3.7 Flow Meters Market Analysis - PEST

Chapter 4 Product Estimates & Trend Analysis
                    4.1 Flow Meters Market: Product Movement Analysis
                         4.1.1 Differential Pressure
                         4.1.2 Positive Displacement
                         4.1.3 Magnetic
                              4.1.3.1 Wired Magnetic Flow Meter
                              4.1.3.2 Wireless Magnetic Flow Meter
                         4.1.4 Ultrasonic
                         4.1.5 Coriolis
                         4.1.6 Turbine
                         4.1.7 Vortex
                         4.1.8 Others

Chapter 5 Application Estimates & Trend Analysis
                    5.1 Flow Meters Market: Application Movement Analysis
                         5.1.1 Water & Wastewater
                         5.1.2 Oil & Gas
                         5.1.3 Chemicals
                         5.1.4 Power Generation
                         5.1.5 Pulp & Paper
                         5.1.6 Food & Beverage
                         5.1.7 Others

Chapter 6 Regional Estimates & Trend Analysis
                    6.1 Flow Meters Market Share By Region, 2019 & 2027
                    6.2 North America
                         6.2.1 U.S.
                         6.2.2 Canada
                         6.2.3 Mexico
                    6.3 Europe
                         6.3.1 U.K.
                         6.3.2 Germany
                         6.3.3 France
                    6.4 Asia Pacific
                         6.4.1 China
                         6.4.2 Japan
                         6.4.3 India
                    6.5 South America
                         6.5.1 Brazil
                    6.6 Middle East and Africa (MEA)

Chapter 7 Competitive Landscape
                    7.1 ABB
                         7.1.1 Company Overview
                         7.1.2 Financial Performance
                         7.1.3 Product Benchmarking
                         7.1.4 Recent Developments
                    7.2 Emerson Electric Co.
                         7.2.1 Company Overview
                         7.2.2 Financial Performance
                         7.2.3 Product Benchmarking
                         7.2.4 Recent Developments
                    7.3 em-tec GmbH
                         7.3.1 Company Overview
                         7.3.2 Product Benchmarking
                    7.4 Endress+Hauser Management AG
                         7.4.1 Company Overview
                         7.4.2 Financial Performance
                         7.4.3 Product Benchmarking
                         7.4.4 Recent Developments
                    7.5 General Electric
                         7.5.1 Company Overview
                         7.5.2 Financial Performance
                         7.5.3 Product Benchmarking
                         7.5.4 Recent Developments
                    7.6 Hitachi, Ltd.
                         7.6.1 Company Overview
                         7.6.2 Financial Performance
                         7.6.3 Product Benchmarking
                         7.6.4 Recent Developments
                    7.7 Honeywell International, Inc.
                         7.7.1 Company Overview
                         7.7.2 Financial Performance
                         7.7.3 Product Benchmarking
                    7.8 Hontzsch GmbH
                         7.8.1 Company Overview
                         7.8.2 Product Benchmarking
                    7.9 KROHNE Messtechnik GmbH
                         7.9.1 Company Overview
                         7.9.2 Financial Performance
                         7.9.3 Product Benchmarking
                         7.9.4 Recent Developments
                    7.10 Siemens
                         7.10.1 Company Overview
                         7.10.2 Financial Performance
                         7.10.3 Product Benchmarking
                         7.10.4 Recent Developments
                    7.11 VSE Volumentechnik GmbH
                         7.11.1 Company Overview
                         7.11.2 Product Benchmarking
                    7.12 Yokogawa Electric Corporation
                         7.12.1 Company Overview
                         7.12.2 Financial Performance
                         7.12.3 Product Benchmarking
                         7.12.4 Recent Developments

List of Tables

Table 1 Flow meters market, 2016 - 2027 (USD Million)
Table 2 Flow meters market by region, 2016 - 2027 (USD Million)
Table 3 Flow meters market by product, 2016 - 2027 (USD Million)
Table 4 Flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 5 Flow meters market by application, 2016 - 2027 (USD Million)
Table 6 Flow meters market - Key market driver impact
Table 7 Flow meters market - Key market restraint impact
Table 8 Flow meters market - Key market opportunity impact
Table 9 Flow meters market - Key market challenge impact
Table 10 Key company analysis
Table 11 Product mapping
Table 12 List of other key flow meter manufacturers/vendors
Table 13 List of other flow meter industry participants
Table 14 List of suppliers of flow meter measurement solutions
Table 15 Differential pressure market by region, 2016 - 2027 (USD Million)
Table 16 Positive displacement market by region, 2016 - 2027 (USD Million)
Table 17 Magnetic market by region, 2016 - 2027 (USD Million)
Table 18 Wired magnetic market by region, 2016 - 2027 (USD Million)
Table 19 Wireless magnetic market by region, 2016 - 2027 (USD Million)
Table 20 Ultrasonic market by region, 2016 - 2027 (USD Million)
Table 21 Coriolis market by region, 2016 - 2027 (USD Million)
Table 22 Turbine market by region, 2016 - 2027 (USD Million)
Table 23 Vortex market by region, 2016 - 2027 (USD Million)
Table 24 Others market by region, 2016 - 2027 (USD Million)
Table 25 Global water & wastewater market by region, 2016 - 2027 (USD Million)
Table 26 Global oil & gas market by region, 2016 - 2027 (USD Million)
Table 27 Global chemicals market by region, 2016 - 2027 (USD Million)
Table 28 Global power generation market by region, 2016 - 2027 (USD Million)
Table 29 Global pulp & paper market by region, 2016 - 2027 (USD Million)
Table 30 Global food & beverage market by region, 2016 - 2027 (USD Million)
Table 31 Global other applications market by region, 2016 - 2027 (USD Million)
Table 32 North America flow meters market by product, 2016 - 2027 (USD Million)
Table 33 North America flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 34 North America flow meters market by application, 2016 - 2027 (USD Million)
Table 35 U.S. flow meters market by product, 2016 - 2027 (USD Million)
Table 36 U.S. flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 37 U.S. flow meters market by application, 2016 - 2027 (USD Million)
Table 38 Canada flow meters market by product, 2016 - 2027 (USD Million)
Table 39 Canada flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 40 Canada flow meters market by application, 2016 - 2027 (USD Million)
Table 41 Mexico flow meters market by product, 2016 - 2027 (USD Million)
Table 42 Mexico flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 43 Mexico flow meters market by application, 2016 - 2027 (USD Million)
Table 44 Europe flow meters market by product, 2016 - 2027 (USD Million)
Table 45 Europe flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 46 Europe flow meters market by application, 2016 - 2027 (USD Million)
Table 47 U.K. flow meters market by product, 2016 - 2027 (USD Million)
Table 48 U.K. flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 49 U.K. flow meters market by application, 2016 - 2027 (USD Million)
Table 50 Germany flow meters market by product, 2016 - 2027 (USD Million)
Table 51 Germany flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 52 Germany flow meters market by application, 2016 - 2027 (USD Million)
Table 53 France flow meters market by product, 2016 - 2027 (USD Million)
Table 54 France flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 55 France flow meters market by application, 2016 - 2027 (USD Million)
Table 56 Asia Pacific flow meters market by product, 2016 - 2027 (USD Million)
Table 57 Asia Pacific flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 58 Asia Pacific flow meters market by application, 2016 - 2027 (USD Million)
Table 59 China flow meters market by product, 2016 - 2027 (USD Million)
Table 60 China flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 61 China flow meters market by application, 2016 - 2027 (USD Million)
Table 62 Japan flow meters market by product, 2016 - 2027 (USD Million)
Table 63 Japan flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 64 Japan flow meters market by application, 2016 - 2027 (USD Million)
Table 65 India flow meters market by product, 2016 - 2027 (USD Million)
Table 66 India flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 67 India flow meters market by application, 2016 - 2027 (USD Million)
Table 68 South America flow meters market by product, 2016 - 2027 (USD Million)
Table 69 South America flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 70 South America flow meters market by application, 2016 - 2027 (USD Million)
Table 71 Brazil flow meters market by product, 2016 - 2027 (USD Million)
Table 72 Brazil flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 73 Brazil flow meters market by application, 2016 - 2027 (USD Million)
Table 74 MEA flow meters market by product, 2016 - 2027 (USD Million)
Table 75 MEA flow meters market by transmission method, 2016 - 2027 (USD Million)
Table 76 MEA flow meters market by application, 2016 - 2027 (USD Million)

List of Figures

Fig. 1 Flow Meters Market Segmentation
Fig. 2 Flow Meters Market Report Scope
Fig. 3 Flow Meters - Industry Snapshot & Key Buying Criteria, 2016 - 2027
Fig. 1 Flow Meters Market Analysis - Market Dynamics
Fig. 2 Flow Meters Market Size and Growth Prospects 2016 - 2027 (Revenue in USD Million)
Fig. 3 Flow Meters Market - Value Chain Analysis
Fig. 4 Flow Meters Market Analysis - Porter's
Fig. 5 Flow Meters Market Analysis - PEST
Fig. 6 Flow Meters Market - Product Movement Analysis
Fig. 7 Flow Meters Market - Application Movement Analysis
Fig. 8 Regional Marketplace: Key Takeaways
Fig. 9 Flow Meters Market - Regional Movement Analysis