The Rise In Initiatives To Build Safe Water Management Infrastructure Has Positively Impacted The Demand For Flow Meters

FMI projects that the flow meters market size could reach a valuation of US$ 8.1B by 2023. The demand for high-performance flow meters is expected to increase given a recovery in key industries and their reliance on these devices. Therefore, looking forward to the future, the market revenue is estimated to surpass US$ 13.2B by 2033, exhibiting a CAGR of 5.0%.

Flow measurement infrastructure has a vital role in measuring the water that flows through wastewater treatment systems. Key industries including water & wastewater, oil & gas, chemical, power generation, and pulp & paper have a huge demand for flow meters. The usage of flow meters in these industries for wastewater treatment has contributed significantly to the market growth.

The rise in initiatives to build safe water management infrastructure has positively impacted the demand for flow meters. Accurate measurement and monitoring of water and wastewater flows are critical for effective treatment and management. This, in turn, is leading to an increase in demand for flow meters for water and wastewater treatment plants.

Flow meters are highly preferred in process industries. Governments in various regions are making the use of flow meters mandatory given their benefits. Many organizations are focused on reducing the total cost of ownership of flow meters. This is driving the demand for flow meters that require less maintenance and have a long lifespan.

A significant contributor has been the rise in industrial output and the requirement for energy. The requirement for energy-efficient flow meters is also driving the market. Energy-efficient flow meters can help reduce energy consumption and costs. This can help reduce the overall carbon footprint of an organization.

The challenge of managing the operational processes of smart systems could limit market expansion. This challenge is related to labor skills and expertise. The market is currently constrained in its ability to manufacture flow meters on a personalized basis. Another factor that could impede growth is the high initial costs associated with advanced flow meter products.

The working range and construction material affect flow meters' price. Among other materials, flow meters are constructed of metal, plastics, and alloys. The flow meter cost has increased even more. Original equipment manufacturers (OEMs) are having a hard time getting high-quality raw materials. Suppliers are imposing supply timelines given the fluctuating pricing of these components.

Key trends in this market include the growing adoption of digital flow meters and the increasing use of ultrasonic flow meters. These flow meters offer high accuracy and reliability in flow measurement. Another significant development in the market is the growing adoption of digital flow meters.

The demand for intelligent flow meters is expected to thrive given the integration of the Internet of Things. This has led to the introduction of smart measurement solutions. The demand for the Coriolis flowmeter is also projected to grow because of its advanced smart capabilities that enable more precise rate measurement.

The increasing adoption of smart flow meters and the development of new technologies are expected to create new opportunities for market players. Process automation is also a recent trend in the peak flow meters market. This is driven by the need for accurate flow-measuring tools to support efficient manufacturing processes. Therefore, an increase in industrial production worldwide is projected to open up market opportunities.

Flow Meters Take the Center Stage in Industrial Operations across the United States
The United States has a well-established flow meters industry given its significant industrial activities. The growing demand for reliable flow measurement devices and increasing investment in infrastructure development are the key drivers for the United States flow meters market growth.

The government is investing in infrastructure development projects which are likely to drive the demand for flow meters. For instance, the United States Environmental Protection Agency has set regulations for the measurement and monitoring of wastewater. The agency supports local wastewater treatment facilities and participates in pollution control initiatives. These initiatives aim to safeguard watersheds and drinking water sources. Additionally, the agency implements federal safe drinking water regulations.

Key players are investing in research and development to launch innovative products and gain a competitive edge in the market. For instance, Badger Meter introduced the Dynasonics TFX-5000 in September 2019. It is a flexible ultrasonic flow and energy meter. The device is made for non-invasive, ultrasonic transit time measurement. This technology is recognized to be perfect for oil & gas, HVAC, and water and wastewater treatment applications.

Government Initiatives Boost Flow Meter Adoption in the United Kingdom
The United Kingdom flow meters market expansion is attributed to the increasing demand for accurate and reliable flow measurement devices in various industries. The increasing adoption of automation in various industries in the country has led to the demand for flow meters. The government has introduced several initiatives that meanderingly encourage the adoption of flow meters in various industries. For instance,

The government announced in May 2022 its Water Industry National Environment Programme (WINEP). It is likely to increase the adoption of flow meters in the water and wastewater treatment industries to monitor water usage.

Multiple suppliers and producers of the flow rate measuring goods and services are based in the United Kingdom. Sentronics, a sensor company located in the United Kingdom, announced in June 2022 that it has partnered with testing system provider Horiba, the United Kingdom.

The partnership aims to introduce their next-generation ultrasonic fuel flow meter called Horiba RealFlow. Powered by Sentronics, the new flow meter is designed for the automotive sector.

Flow Meter Usage is on the Rise in Water Management Systems in China
China flow meters market growth is primarily driven by the increasing adoption of advanced technologies in manufacturing and processing industries. The government has been taking several initiatives to conserve water and improve water quality. To encourage the use of flow meters across different industries, the government has been launching several programs.

State Council released the "Water Pollution Prevention and Control Action Plan" (often referred to as the "Water Ten Plan") in April 2015. The strategy outlines how to improve management and guarantee the security of the water environment. This is likely to increase the adoption of flow meters in the water & wastewater industry.

Companies in China have been focusing on product innovation to strengthen their market position. In March 2023, a manufacturer in China, ATO Flow Meter introduced two new devices into the company's inventory. The devices are a magnetic flow meter and an ultrasonic flow meter. The new devices provide dependable technology for measuring liquids, gases, or steam in various industries. The devices also enable customers to get customized solutions that meet their specific needs.

Flow Meter Applications Proliferate in Japan and South Korea across Diverse Industries
Key drivers of Japan’s flow meters market include increasing government initiatives for water resource management and the growing demand for flow meters in the automotive industry. Flow meters are widely used in Japan’s automotive industry for measuring fuel consumption and optimizing engine performance. The growing demand for fuel-efficient vehicles is expected to drive the demand for flow meters in the automotive industry across the country.

Rising demand for oil and gas is expected to drive South Korea’s flow meters market growth. Demand for flow meters in water and wastewater treatment plants is increasing given the increasing population and urbanization. The implementation of strict environmental regulations by the government is also anticipated to boost the demand during the forecast period.

The Water and Wastewater Industry Emerges as the Dominant Force in the Market
The water and wastewater industry segment dominates the global market for several reasons. The water and wastewater industry is a significant consumer of flow meters. This is because accurate measurement and monitoring of water and wastewater flow rates is critical.

Given the rising demand from the water sectors in North America and Europe, the leading end-use industry for flow meters is expected to be water & wastewater. Strict laws imposed by governments in these regions facilitate the necessity for the clean discharge of effluents from manufacturing facilities. They aim to support sustainability and zero carbon emission aims.

Multinational corporations are investing heavily in foreign manufacturing facilities in various nations. These facilities must treat their effluents before releasing them due to the strict regulations imposed by several nations.

Flow meters have wide-ranging applications within the water and wastewater industry. The extensive use of flow meters creates a substantial market for these devices. It also drives innovation in the industry to create specialized flow meter solutions tailored to specific applications and requirements.

These insights are based on a report on flow meters market by Future Market Insights