Flow meters: Key market research findings
- Americas dominate the market geographically
- Residential segment is the dominant shareholder in the market
- Key vendors – Elster, GE, Itron, Emerson, and ABB
Technavio’s market research analysts predict the global flow meter market to grow at a CAGR of more than 11% between 2016 and 2020. The adoption of sustainable water management systems by various countries is spurring an increase in the demand for smart meters, and subsequently boosting growth in the flow meter market. During 2015, the Americas dominated the flow meter market across the globe by accounting for a market share of around 53%. Factors such as the demand for water management systems and residential gas distribution networks are expected to reflect positively on growth in the flow meter market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the flow meter segments based on end-users.
“Recently, there has been an upsurge in the emergence of technologically advanced flow meters such as sonar meters, ultrasonic meters, and optical flow meters in the market. Optical flow meters involve the integration of optical laser technology to assess and measure the speed of particles that get mixed with natural and industrial gases while flowing through a flare pipe. The expansion of pipeline networks across nations is expected to augment the demand for optical flow meters over the next four years,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
By 2020, the residential segment is expected to occupy almost 54% of the overall market space to become the dominant shareholder in the global flow meter market. In the residential sector, flow meters are used to measure the consumption of natural gas and water. Flow meters are increasingly used to keep an account of the domestic water consumption supplied by the utility service provider in the residential sector. Initiatives taken by various countries to expand their domestic gas supply networks is expected to fuel growth in the global flow meter market for the residential sector in the coming years.
The key vendors in the global flow meter market include Elster, GE, Itron, Emerson, and ABB. This market is fragmented with the dominance of the major international players. Being capital-intensive, the market poses a stiff challenge to the local players who find difficult to compete with the international vendors in terms of quality, features, functionalities, and services. Competition in the market is expected to intensify during the forecast period with the introduction of innovative products with new features and technologies. Vendors operating in the market experience maximum demand from the residential sector followed by the industrial and commercial sectors.
A more detailed analysis is available in the Technavio report, Global Flow meter Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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