Global Water Meters Market, By Product Type (Standard Water Meter, Smart Water Meter), Distribution Channel (Online, Offline), End user (Residential, Commercial, Industrial) - Industry Trends and Forecast to 2030.
Water Meters Market Analysis and Size
Water metering is a process that is used for measuring water where water meters are incorporated. Water meters assist in tracking the amount of water used in residential and commercial buildings. These devices are connected to a public water delivery system. These machines are available in various shapes and sizes, and are differentiated by end-user type, accuracy requirements, flow measuring technique and needed flow rates.
The global water meters market was valued at USD 21.41 million in 2022 and is expected to reach USD 30.86 million by 2030, registering a CAGR of 4.5% during the forecast period of 2023-2030. “Offline” accounts for the largest distribution channel segment in the respective market owing to the high preference for offline channels among end users. 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.
Water Meters Market Scope and 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 (Customisable to 2015-2020)
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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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Product Type (Standard Water Meter, Smart Water Meter), Distribution Channel (Online, Offline), End user (Residential, Commercial, Industrial)
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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 Middle East and Africa
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Market Players Covered
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General Electric (U.S.), ABB (Switzerland), Itron (U.S.), Schneider Electric (France), IBM Corporation (U.S.), SENSUS USA INC (U.S.), Elster Group SE (Germany), Siemens (Germany), Global Water Management, LLC (U.S.), Neptune Technology Group (U.S.), Radius Synergies International Pvt Ltd (India), Trimble Water (India), TaKaDu (Israel), SenzIoT (Canada), SUEZ (France), Oracle Corporation (U.S.), and i2O Water Ltd. (U.K.).
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Market Opportunities
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Market Definition
A water meter refers to a device that assists in the measurement of water flowing through a pipe system. These devices are placed in a box that is fitted over the ground or underground on public land. Water meters usually offer automated meter reading technology.
Global Water Meters Market Dynamics
Drivers
- Water Consumption
The surge in the water consumption across the globe acts as one of the major factors driving the growth of water meters market. The consumption of water in rising day-by-day, as in the amount of water that is not returned to the source after usage. Water meters are highly beneficial in the consumption of water because these devices charge user as per the volume of water used.
- IoT-Enable Water Meters
The launch of IoT-enable water meters by the companies accelerate the market growth. The internet is connected devices to collect and transfer the data over a wireless network with no requirement of human being. IoT-enabled water meter is used for knowing exact amount of water used and create two-way communication.
- Need to Manage COSTS
The rise in adoption of water meters among companies for the purpose of efficiently collecting data and streamlining operations to decline overall costs further influence the market. The device inputs is helpful in integrating with third-party billing and ERP systems via APIs.
Additionally, surge in investments, rapid urbanization and increase in demand to detect of leakage in the water pipe to reduce wastage of water positively affect the global water meters market.
Opportunity
- Growing digitalization in water industry
In recent years, the water industry has experienced a significant transformation with the advent of digitalization. The integration of digital technologies and data-driven solutions has revolutionized the way water industry operations are managed. This growing digitalization in the water industry has paved the way for increased efficiency, sustainability, and informed decision-making. From smart water meters to Internet of Things (IoT) sensors and advanced data analytics, these digital innovations have reshaped the landscape of water management.
Restraint/Challenge
- High Investment Involved
However, high initial investments and long payback period are expected to obstruct market growth. While the integration of digital technologies and data-driven solutions has revolutionized water industry operations, it is important to acknowledge the challenges that come with it. One such challenge is the high initial investments required and the long payback period associated with implementing digital solutions in the water sector. provided by digitalization make it a worthwhile investment for water industry stakeholders.
Recent Development
- In January 2021, Badger Meter Inc., US-based manufacturer of metering products, acquired Analytical Technology Inc for a deal amount of USD 44 million. The acquisition offers Badger Meter Inc. a robust, comprehensive, and scalable water quality monitoring that delivers real-time data on demand to municipal water utilities and industrial users
Global Water Meters Market Scope
The global water meters market is segmented on the basis of product type, distribution channel and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Standard Water Meter
- Smart Water Meter
Distribution Channel
- Online
- Offline
End User
- Residential
- Commercial
- Industrial
Global Water Meters Market Regional Analysis/Insights
The global water meters market is analysed and market size insights and trends are provided by country, product type, distribution channel and end user as referenced above.
The countries covered in the global water meters 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 the Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the water meters market because of the government initiatives for reduction in non revenue water, and demand for accurate meter reading within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 because of the rapid industrial development in the region.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Water Meters Market Share Analysis
The global water meters market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global water meters market.
Some of the major players operating in the global water meters market are:
- General Electric (U.S.)
- ABB (Switzerland)
- Itron (U.S.)
- Schneider Electric (France)
- IBM Corporation (U.S.)
- SENSUS USA INC (U.S.)
- Elster Group SE (Germany)
- Siemens (Germany)
- Global Water Management, LLC (U.S.)
- Neptune Technology Group (U.S.)
- Radius Synergies International Pvt Ltd (India)
- Trimble Water (India)
- TaKaDu (Israel)
- SenzIoT (Canada)
- SUEZ (France)
- Oracle Corporation (U.S.)
- i2O Water Ltd. (U.K.)
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