Flow Meters Market Size Is Projected To Reach USD 11.7 Billion By 2030, Growing At A CAGR Of 6%: Straits Research

The global flow meters market size was worth USD 6875 million in 2021 and is estimated to reach an expected value of USD 11,700 million by 2030 at a CAGR of 6% during the forecast period (2022–2030). Asia-Pacific is the fastest-growing flow meters market. The Asia-Pacific flow meters market is predicted to be worth USD 27,793 million by 2030, increasing at a 4% CAGR

New York, NY (GLOBE NEWSWIRE) - Due to their innumerable features, flow meters are expeditiously being used in coal-fired, fuel oil and natural gas, geothermal, hydroelectric, and nuclear power plants. The use of flow meters has increased as laws regulating the control of toxic gas emissions from power plants have become more stringent.

Flow meters are in high demand for monitoring and measuring the flow of steam, gas, water, chemicals, and mineral oil, among other things. These meters deliver much accuracy in terms of optimal and cost-effective quantity during flow measurement. In terms of processing control, they are advantageous.

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Rise in Applications in Oil & Gas Industry to Drive the Global Flow Meters Market
The oil and gas category includes offshore and onshore oil and gas exploration, production, and refining facilities, refineries, pipelines, petrochemical units, gas pipelines, and storage terminals. In both the upstream and downstream sections of the oil and gas industry, preventive coatings are utilized to transport oil and gas to refineries. This industry uses anti-corrosion, heat-resistant, abrasion-resistant, fire-resistant, and other types of protective coatings.

The industry has been looking for ways to cut costs. This, combined with the need to adhere to strict environmental regulations, has led to a willingness for a long-lasting barrier layer that effectively preserves assets.

Moreover, major contributors to the oil and gas industry's growth include the United States, Saudi Arabia, Russia, China, and Canada, among others.

Technological Advancements to Generate New Opportunities for the Global Flow Meters Market
In terms of digital transformation, the sensors in the equipment have also seen rapid advancements. Several major market players are investing heavily in research and development. These operations are also anticipated to assist them in developing products that meet the needs of various industrial facilities and end-useapplications.

Significant developments in flow meter technology include digital signals for flow meters, multiple measurement formats, online diagnosis and troubleshooting, remote calibration and configuration, and smart sensors with online warnings.

Because of scientific advances made possible by solid r and d, the industry has also been capable of creating adequate solutions to complex operating problems. One of the issues that the flow meter operations have to interact with on a regular basis is cleanliness. The emergence of automated cleaning is one of the market's breakthrough trends. This trend is especially advantageous to market segments such as water and wastewater management.

Furthermore, the advent of computer processing has had a positive impact on the way these flow meters function. The access to low-cost memory chips that can sequence data at high speeds and handle large amounts of data could be beneficial in a market like this. With the increased use of software programs, precise measurements and the factors controlling a wider range of gases and liquids are expected.

Report Scope

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Impact of COVID-19
The recent COVID-19 pandemic accelerated industrial automation implementation, leading to more product announcements and advancements in 2020.

On the company's COVID-19 vaccine line, flow meters have seen a spike in sales for measuring purified water. They were utilized to calibrate flow measurement instruments on other production skids, such as tanks, pumps, and other machinery. In addition to measuring dynamic flow, many flow meters were utilized to double-check the precision of weighing scale measurements.

The Covid-19 pandemic has impacted flow meter manufacturers' supply chains from a manufacturing standpoint. While the sector remained vital, various vendors experienced difficulties obtaining flow meter components.

Sierra Instruments, a US-based manufacturer of flow meters and controllers, recently confirmed in January 2021 that the company would remain open during the pandemic. However, the Covid-19 virus infected many of its suppliers and employees. The company is operating at a lower capacity than usual, and standard lead times are becoming difficult to maintain. These factors also have an influence on the earnings of vendors in the market.

Regional Insights
The flow meters market is segmented into four regions: North America, Europe, Asia-Pacific, and Middle East & Africa.

Over the forecast period, the North American flow meters market is projected to expand significantly. The United States is the region's major contributor to growth. As for the advanced oil and gas, chemicals, and power generation industries, the North American region is expected to maintain a huge market share. The renewable energy generation sector in North America is anticipated to continue investing heavily in new projects. The hydropower sector is expected to grow from 101 GW to around 150 GW by 2050, pertaining to the US Department of Energy (DOE).

Asia-Pacific is the fastest-growing flow meters market. The Asia-Pacific flow meters market is predicted to be worth USD 27,793 million by 2030, increasing at a 4% CAGR. Most Asian vendors use cost-cutting as a competitive advantage, which means they frequently sacrifice high quality. The region's prominence in global sensor production benefits them in the market under investigation.

Panasonic introduced its new Ultrasonic Gas Flow Sensor in January 2020, adding emerging innovations to its vast specialty sensor product portfolio. This new sensor is a tiny, dual-function ultrasonic gas flow sensor that can quantify gas flow and density at flow rates varying from 1 to 25 liters per minute. It was previously only available as a Panasonic direct technology product.

Key Highlights

• The flow meters market was valued at USD 6876 million in 2021 and is anticipated to generate USD 11,702 million by 2030. The market is expected to register growth at a CAGR of 6% during the assessment period.
• By technology, the market is classified into coriolis, electromagnetic, differential pressure, ultrasonic, and others. The coriolis segment is anticipated to generate USD 4,088 million by 2030 at a CAGR of 7%.
• On the basis of end use, the flow meters market is classified into oil and gas, water and wastewater, chemical and petrochemical, food & beverage, power generation, pulp and paper, and other end-user industries. The chemicals and petrochemicals end-user segment was the highest contributor to the market, and is estimated to reach USD 3,123 million by 2030, at a CAGR of 7% during the forecast period.

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Key Players of the Flow Meters Market are

• Yokogawa Electric Corporation
• ABB Ltd, Siemens AG
• Bronkhorst High-Tech BV
• Honeywell International Inc.
• SICK AG
• Omega Engineering Inc. (Spectris PLC)
• Christian Bürkert GmbH & Co. KG
• TSI Incorporated
• Keyence Corporation
• Emerson Electric Co.
• Sensirion AG
• Azbil Corporation
• Endress+Hauser AG
• KROHNE Messtechnik Gm​

Global Flow Meters Market: Segmentation

By Technology

• Coriolis
• Electromagnetic
• Differential Pressure
• Ultrasonic
• Others

By End-User

• Oil and Gas
• Water and Wastewater
• Chemical and Petrochemical
• Food & Beverage
• Power Generation
• Pulp and Paper General Industry
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Middle East & Africa

TABLE OF CONTENT

1 Introduction

1.1 Market Definition

1.2 Market Scope

2 Research Methodology

2.1 Primary Research

2.2 Research Methodology

2.3 Assumptions & Exclusions

2.4 Secondary Data Sources

3 Executive Summary

4 Market Overview

4.1 Report Segmentation & Scope

4.2 Value Chain Analysis: Flow Meters Market

4.2.1 Vendor Matrix

4.3 Key Market Trends

4.3.1 Drivers

4.3.2 Restraints

4.3.3 Opportunities

4.4 Porter’s Five Forces Analysis

4.4.1 Bargaining Power of Suppliers

4.4.2 Bargaining Power of Buyers

4.4.3 Threat of Substitution

4.4.4 Threat of New Entrants

4.4.5 Competitive Rivalry

4.5 Environment & Regulatory Landscape

4.6 Forecast Factors & Relevance of Impact

4.7 Macro-Economic & Geopolitical Scenario

4.8 Parent Market Overview

4.9 Technology Landscape

4.10 Market Share Analysis

4.11 Potential Venture Analysis

4.12 Regional Price Trends

4.13 Raw Material Trends

4.14 Cost Structure Analysis

4.14.1 Labor Cost

4.14.2 Consumables

4.14.3 Maintenance Cost

4.15 Covid-19 Impact Analysis:

4.15.1 Pre and Post Covid-19 Market Scenario Analysis

4.15.2 Market Recovery Timeline and Challenge

4.15.3 Measures Taken by Top Players

4.15.4 Quarterly Market Revenue and Growth Forecast till 2021

4.15.4.1 North America

4.15.4.2 Europe

4.15.4.3 Asia-Pacific

4.15.4.4 Central and South America and the Caribbean

4.15.4.5 The Middle East and Africa

5 Technology Overview

5.1 Introduction

5.1.1 Market Size & Forecast (Value & Volume)

5.2 Coriolis

5.2.1 Market Size & Forecast (Value & Volume)

5.3 Electromagnetic

5.3.1 Market Size & Forecast (Value & Volume)

5.4 Differential Pressure

5.4.1 Market Size & Forecast (Value & Volume)

5.5 Ultrasonic

5.5.1 Market Size & Forecast (Value & Volume)

5.6 Others

5.6.1 Market Size & Forecast (Value & Volume)

6 End User Overview

6.1 Introduction

6.1.1 Market Size & Forecast (Value & Volume)

6.2 Oil and Gas

6.2.1 Market Size & Forecast (Value & Volume)

6.3 Water and Wastewater

6.3.1 Market Size & Forecast (Value & Volume)

6.4 Chemical and Petrochemical

6.4.1 Market Size & Forecast (Value & Volume)

6.5 Food & Beverage

6.5.1 Market Size & Forecast (Value & Volume)

6.6 Power Generation

6.6.1 Market Size & Forecast (Value & Volume)

6.7 Pulp and Paper General Industry

6.7.1 Market Size & Forecast (Value & Volume)

6.8 Others

6.8.1 Market Size & Forecast (Value & Volume)

7 Regional Overview

7.1 Introduction

7.1.1 Market Size & Forecast (Value & Volume)

7.2 North America

7.2.1 Economic Overview

7.2.2 Market Scenario

7.2.3 U.S.

7.2.4 Canada

7.2.5 Mexico

7.3 Central and South America and the Caribbean

7.3.1 Economic Overview

7.3.2 Market Scenario

7.3.3 Brazil

7.3.4 Argentina

7.3.5 Colombia

7.3.6 Rest of Central and South America and the Caribbean

7.4 Europe

7.4.1 Economic Overview

7.4.2 Market Scenario

7.4.3 Germany

7.4.4 France

7.4.5 The U.K.

7.4.6 Italy

7.4.7 The Rest Of Europe

7.5 Asia-Pacific (APAC)

7.5.1 Economic Overview

7.5.2 Market Scenario

7.5.3 China

7.5.4 Japan

7.5.5 India

7.5.6 Australia

7.5.7 South Korea

7.5.8 Rest Of APAC

7.6 Middle East

7.6.1 Economic Overview

7.6.2 Market Scenario

7.6.3 South Arabia

7.6.4 The UAE

7.6.5 Qatar

7.6.6 Oman

7.6.7 Turkey

7.6.8 The Rest Of the Middle East

7.7 Africa

7.7.1 Economic Overview

7.7.2 Market Scenario

7.7.3 Nigeria

7.7.4 South Africa

7.7.5 The Rest Of Africa

8 Competitive Landscape — Manufacturers & Suppliers

8.1 Competition Dashboard

8.2 Industry Structure

8.3 Yokogawa Electric Corporation

8.3.1 Business Overview

8.3.2 Financial Performance

8.3.3 Recent Developments

8.3.4 Portfolio

8.4 ABB Ltd

8.5 Siemens AG

8.6 Bronkhorst High-Tech BV

8.7 Honeywell International Inc.

8.8 SICK AG

8.9 Omega Engineering Inc. (Spectris PLC)

8.10 Christian Bürkert GmbH & Co. KG

8.11 TSI Incorporated

8.12 Keyence Corporation

8.13 Emerson Electric Co.

8.14 Sensirion AG

8.15 Azbil Corporation

8.16 Endress+Hauser AG

8.17 KROHNE Messtechnik Gm

9 Conclusion & Recommendation

10 Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/flow-meters-market/toc

Market News

In August 2020, AW-Lake introduced a new series of Clamp-On Ultrasonic Flow Meters that can be fastened on the outside of vertical or horizontal pipes ranging in size from ½” through 48”. These Clamp-On Ultrasonic Flow Meters are suitable for a wide spectrum of metal and plastic pipe materials, as well as challenging liquids like chemicals, viscous liquids, and abrasives that would impact standard flow metres. They are housed in a water- and dust-tight NEMA 4X polycarbonate enclosure.

News Media
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