A flowmeter is crucial in various industries for measuring the rate of fluid or gas flow in a system. It ensures precise monitoring and control of processes, optimizing efficiency and resource utilization. By providing real-time data on flow rates, flowmeters contribute to accurate billing, quality control, and troubleshooting of systems. They play a pivotal role in industries such as manufacturing, oil and gas, healthcare, and water management, helping operators make informed decisions and maintain operational integrity.
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Data Bridge Market Research analyses that the Global Flowmeters Market was at USD 10,124.34 million in 2022, and is expected to reach USD 16,723.15 million by 2030, registering a CAGR of 4.50% during the forecast period of 2023-2030. The integration of smart flowmeters, digital flow sensors, and wireless communication technologies in flow measurement devices represents a significant opportunity driver for the flowmeters market. These ongoing technological advancements enhance performance, offer sophisticated solutions, and attract industries seeking integrated and efficient flow measurement systems, fostering market growth.
Key Findings of the Study
Increasing demand for precise flow rate measurement is expected to drive the market's growth rate
The growth of the flowmeters market is propelled by a surging demand for precise flow rate measurement, particularly in oil and gas management globally. Industries such as power generation, pulp and paper, and water and wastewater management are adopting advanced measurement technologies, recognizing the critical role of accurate flow measurements for operational efficiency and compliance with regulations. The emphasis on resource optimization, adherence to environmental standards, and the diverse applications of flowmeters in various sectors contribute to the market's expansion. As industries prioritize efficiency, the demand for flow rate measurement tools continues to rise, driving the growth of the flowmeter market worldwide.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Positive Displacement, Differential Pressure, Vortex, Magnetic, Coriolis, Thermal, Ultrasonic, Turbine, Paddle Wheel and Others), Product Type (Analog, Digital), Transmission Method (Wired, Wireless), Measured Medium (Liquid, Gases, Steam), End user (Food and Beverages, Pharmaceutical and Biotechnology, Cosmetics, Water and Wastewater, Pulp and Paper, Metals and Mining, Power/Energy, Oil and Gas, Chemicals, Petrochemical and Refining, Textiles, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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ABB (Switzerland), Emerson Electric Co. (U.S.), Azbil Corporation (Japan), Baker Hughes Company (U.S.), Schneider Electric (France), Yokogawa Electric Corporation (Japan), Badger Meter, Inc (U.S.), PARKER HANNIFIN CORP (U.S.), Sensirion AG (Switzerland), Siemens (Germany), SICK AG (Germany), Honeywell International Inc (U.S.), KROHNE Messtechnik GmbH (U.K.), Equflow (Netherlands), Flow Meter Group (Netherlands), Landis+Gyr. (Switzerland), Endress+Hauser Management AG (Switzerland), THERMAL INSTRUMENTS CO. (U.S.), KEYENCE CORPORATION (Japan), ifm electronic gmbh (Germany), Sierra Instruments Inc (U.S.), TSI,McCrometer, Inc. (U.S.), Katronic Technologies Ltd. (U.K.), Max Machinery, Inc. (U.S.), and Seametrics (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The global flowmeters market is segmented on the basis of type, product type, transmission method, measured medium, and end-user.
- On the basis of type, the global flowmeters market is segmented into positive displacement, differential pressure, vortex, magnetic, coriolis, thermal, ultrasonic, turbine, paddle wheel, and others
- On the basis of product type, the global flowmeters market is segmented into analog, and digital
- On the basis of transmission method, the global flowmeters market is segmented into wired, and wireless
- On the basis of measure medium, the global flowmeters market is segmented into liquid, gases, and steam
- On the basis of end-user, the global flowmeters market is segmented into food and beverages, pharmaceutical and biotechnology, cosmetics, water and wastewater, pulp and paper, metals and mining, power/energy, oil and gas, chemicals, petrochemical and refining, textiles, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major global flowmeters market players in global flowmeters market are ABB (Switzerland), Emerson Electric Co. (U.S.), Azbil Corporation (Japan), Baker Hughes Company (U.S.), Schneider Electric (France)
Market Developments
- In September 2023, Yokogawa launched The OpreX CA Series, a new Magnetic Flowmeter product. This latest addition to their product line is designed to measure the flow of conductive fluids without requiring physical contact with the fluid. The new product aims to enhance operational efficiency and maintainability by providing accurate and reliable data on fluid flow processes
- In September 2022, Yokogawa entered the scene with the unveiling of the OpreX CA Series Magnetic Flowmeter. This cutting-edge product represents a leap forward in measuring the flow of conductive fluids, offering enhanced operational efficiency and ease of maintenance. What sets this series apart is its capability to measure flow from a safe distance, providing an added layer of safety in various industrial applications. The OpreX CA Series Magnetic Flowmeter is positioned as a valuable addition to industrial and utility service operations, showcasing Yokogawa's dedication to delivering advanced solutions that address the evolving needs of the industry
- In January 2022, Badger Meter, Inc. signed an agreement to acquire Analytical Technology, Inc., a privately held provider of water quality monitoring systems. Analytical Technology, Inc. specializes in the design, manufacture, and distribution of water quality instruments based on optical and electrochemical sensors
- In December 2021, ABB made waves in the industry with the introduction of the AquaMaster4 Mobile Comms flowmeter, marking a significant leap forward in flow measurement technology. This groundbreaking electromagnetic flowmeter stands out as the first of its kind to offer bidirectional connectivity, making it a revolutionary tool for intelligent water loss management. Its compatibility with 4G-LTE and NB-IoT networks sets it apart from competitors, enabling unprecedented connectivity and data transfer capabilities. Notably, the AquaMaster4 Mobile Comms flowmeter can identify leaks at a remarkable speed, ten times faster than existing industry standards, showcasing ABB's commitment to innovation and efficiency in the field of flow measurement
- In April 2021, Krohne Messtechnik GmbH made its mark in the field of industrial automation with the introduction of an electromagnetic flow meter tailored for compact spaces. Specifically engineered to fit seamlessly into tight spaces such as cooling systems, bending machines, robots, and chemical dosing skids, this flow meter offers a solution for industries where space optimization is critical. Krohne's commitment to addressing the unique challenges of industrial automation is evident in the design and functionality of this electromagnetic flow meter, contributing to greater flexibility and efficiency in various automated processes
Regional Analysis
Geographically, the countries covered in the global flowmeters market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in the global flowmeters market during the forecast period 2023 - 2030
North America dominates the global flowmeters market, primarily driven by its dominant adoption of these systems in the power generation sector. The region's emphasis on efficient and reliable power generation, coupled with continuous technological advancements, has propelled the widespread use of sophisticated flowmeters. Stringent environmental and safety regulations in North America contribute to the demand for accurate flow rate measurements, as flowmeters assist power plants in meeting compliance standards.
Asia-Pacific is estimated to be the fastest-growing region in the global flowmeters market for the forecast period 2023 - 2030
Asia-Pacific emerged as the fastest-growing contributor to the global flowmeters market from 2023 to 2030, primarily driven by dynamic developments in the water and wastewater management sector. Rapid urbanization and infrastructure projects in the region necessitate precise flow rate measurements, and positioning flowmeters as integral components in water treatment plants and distribution networks.
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