Flow Meters Market Size, Trends & Growth (2022- 2027)

Flow Meters Market size was around USD 9.25 billion by revenue, at the end of 2021 and is anticipated to grow at a CAGR of 8.45%

HYDERABAD, TELANGANA, INDIA, August 25, 2022 /EINPresswire.com/ -- Flow Meters Market size was around USD 9.25 billion by revenue, at the end of 2021 and is anticipated to grow at a CAGR of 8.45% to reach USD 11.91 billion by 2026.

The Flow meter is used to measure the volume or mass of a gas or liquid. Flow meters have many types such as flow indicators, flow gauges, flow rate sensors, and the liquid meter they are depending on the particular industry. They have key factors for determining the right flow meter for a particular application such as flow profile, flow range, fluid characteristics, and the need for accurate measurements.

Drivers:

Flow meters are rising the demand for textile production, and the municipal sector and the surge in oil & gas extraction are leading to huge wastewater generation, these are major factors driving the market. Smart flow meters bring high accuracy to gas, fluid, liquid, and gas control activities. This device provides real-time evaluation data as well as continuous feedback, boosts efficiency, lowers costs, and diagnostics alternatives are the factors driving the market growth.

Increasing use in oil & gas and water & wastewater industries.

Oil & Gas and Water & Wastewater industries are the major end-use industries of flow meters that are driving the market. Control, reliability, higher accuracy, and performance, these facilities are demand in flow meters. Water & Wastewater is a higher use of flow meters.

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Restraints:

The flow meters market restraint the high cost of flow measurements infrastructure and raw materials price fluctuations. Maintenance of flow meters needs intricate technical knowledge and incurs a high cost.

Segmentation Analysis:

Flow Meters Market - By Type:

• Differential Pressure
• Positive Displacement
• Magnetic
• Ultrasonic
• Coriolis
• Turbine
• Vortex

Based on the type: The Coriolis segment was recorded as the largest market share in the flow meter market in 2022 and it is anticipated to grow significantly during the forecast period. The Coriolis is used in Coriolis flow meters and Coriolis is a measuring principle. The Coriolis Effect is the subtle correction to the path of moving objects to compensate for the rotation of the earth.

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Flow Meters Market - By End-Use Industry:

• Water & Wastewater
• Oil & Gas
• Chemicals
• Power Generation
• Pulp & Paper
• Food & Beverages

Based on the end use industry: The Oil & Gas segment held the largest share in the flow meters market in 2022 and it is anticipated to grow significantly during the forecast period. The segment is increasing the number of transportation anticipated to boost the demand for oil & gas resources shortly and fuelling the growth of flow meters in the oil & gas industry to drive the market growth.

Regional Analysis:

North America
Europe
Asia Pacific
Latin America
Middle east and Africa

The Asia Pacific is the largest growing region in the flow meters market and is expected to grow significantly during the forecast period. The Asia Pacific is the high availability of the countries such as China, Japan, India, Indonesia, and South Korea. The reason for this dominance of the region is the growth of the popularity of flow meters and are increasing the need for metering water consumption, dosing of water treatment, and leakage reduction. water & wastewater, oil & gas, metals & mining, power generation, chemicals, and other industries are factors that are expected to drive the market growth of the flow meters market in the region. China is the largest market supporting the growth of the flow meters market. There has been a rapid growth in the flow meters, driving the region’s market growth.

North America is expected to be growing lucratively in the flow meters market.

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Latest Industry Developments:

In January 2021, Badger Meter, Inc. signed an agreement to acquire Analytical Technology, Inc., a privately held provider of water quality monitoring systems. The company was founded in 1992, headquartered in Pennsylvania, US, and is specialized in the design, manufacture, and distribution of water quality instruments based on electrochemical and optical sensors. This expansion can enhance the product portfolio of Badger Meter, Inc. in the water and wastewater industry.

March 2021 - KROHNE launched the AF-E 400 ultra-compact electromagnetic flowmeter for utility and industrial automation applications to fit in applications with constrained installation space, such as welding equipment cooling lines, bending machines, and robots.

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