Piping System Monitoring Needs Propel Flow Indicators Market To US$1.05B By 2034

The flow indicator market is expected to be valued at US$ 742.9M in 2024. In 2023, the market valuation was valued at US$ 714.2M. The market is projected to progress at a CAGR of 4.3% over the forecast period from 2024 to 2034. By 2034, the market value is forecasted to have reached US$ 1.05B.

Piping systems are essential for many industries and are used in buildings and farms. With the help of flow indicators, leakage in piping systems is being controlled by end users.

People are conscious of the severe effects of pipe leakages, whether liquid or gaseous. Flow indicators are thus a measure that industrialists are willing to take. Further, flow indicators also help companies follow strict guidelines regarding wastewater disposal.

Flow indicators are limited in ability by nature. Alternatives like flow meters offer more capabilities, like measuring the flow speed. The limited capabilities of flow indicators constrain the growth of the market. However, flow indicators are also cheaper than available alternatives, driving their market demand.

"Manufacturers in the industry are catering to the needs of various piping systems in various industries. Manufacturers are introducing products like customized flow and flow indicators that can withstand high pressure due to the rigid material. Thus, the introduction of innovative products is propelling growth in the market", says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Key Takeaways from the Flow Indicator Market

• The flow indicator market will be valued at US$ 742.9M in 2024.
• Flow sight indicator is dominant in the product type segment. For 2024, the market share by product type for flow sight indicator is pegged at 32.0%.
• Flow indicators are predominantly used in the power industry. For 2024, the demand for flow indicators in the power industry is expected to hold 19.0% of the market share.
• The market in India is expected to grow at a CAGR of 5.0% over the forecast period.
• The market in China is expected to record a CAGR of 4.8% through 2034.
• The United States and the United Kingdom markets are set to have similar growth rates of 3.9% over the projected period.

Competition Analysis of the Flow Indicator Market
Market players are aware of the diverse needs of end-users. Thus, the prevailing trend among market players is to develop innovative products that help expand the scope of the consumer base. Marketing is also a common strategy to spread the benefits of flow indicators. Some notable companies in the market are Papailias Incorporated, Dover Corporation, KENCO International, Inc., and Kadant Inc.

Recent Developments

• In July 2023, FarmHQ's platform for managing irrigation equipment got an update in flow monitoring.
• In April 2023, PSG's new line of flow monitoring products targeted at the pharmaceutical industry was released.
• In August 2022, Siemens introduced the Ultrasonic FX U 200, which monitors various liquids.

These insights are based on a report on the Flow Indicators Market by Nikhil Kaitwade, Principal Consultant, Future Market Insights