Flow Meter Global Market Report 2023

Jul 21, 2023

Major players in the flow meter market are Endress+Hausar AG, Honeywell International Inc., Krohne Messtechnik Gmbh, Siemens AG, Yokogawa Electric Corporation, ABB Ltd., Emerson Electric Co., Azbil Corporation, em-tec GmbH, General Electric, Hitachi High-Tech Corporation, HÖNTZSCH GMBH & CO.

New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Flow Meter Global Market Report 2023" - https://www.reportlinker.com/p06466551/?utm_source=GNW KG, Bronkhorst High-Tech BV, Sick AG, Omega Engineering Inc., Christian Bürkert GmbH & Co. KG, TSI Inc, Keyence Corporation, Sensirion AG, Badger Meter, Inc, and Schneider Electric.The global flow meter market is expected to grow from $8.23 billion in 2022 to $8.69 billion in 2023 at a compound annual growth rate (CAGR) of 5.59%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The flow meter market is expected to reach $11.12 billion in 2027 at a CAGR of 6.35%.The flow meter market consists of sales of flow sensors, transmitters, controllers and indicators.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.A flow meter refers to a device used to measure the flow rate or quantity of a liquid, gas, or vapor that passes through it. Flow meters are critical tools for controlling and monitoring the flow of fluids in industrial and commercial applications, as they allow operators to adjust flow rates to optimize performance, reduce waste, and ensure safety.North America was the largest region in the flow meter market in 2022.Europe and Asia-Pacific are expected to be the fastest-growing regions in the forecast period.The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of flow meters are differential pressure, positive displacement, ultrasonic (spool pieces, clamp-on, insertion), turbine, magnetic (in-line, insertion, low flow), coriolis, vortex, and other types.Differential pressure (DP) flow meters measure fluid flow rate by creating a pressure drop across a constriction in the flow path and are used in industrial processes and HVAC systems to monitor flow rates.They are powered by electricity, solar energy, and batteries and are available in a variety of pipe sizes, including 2 inches, 4 inches, 6 inches, and more than 6 inches, and are used by various end-use industries, such as water and wastewater, refining and petrochemicals, oil and gas, chemicals, power generation, pulp and paper, food and beverage, pharmaceuticals, metals and mining, and other end users.Growing oil and gas and wastewater industries are expected to propel the growth of the flow meter market.The oil and gas industry extracts, refines, and distributes oil and natural gas.In contrast, the wastewater industry treats and manages wastewater before it is discharged back into the environment to remove pollutants.Flow meters are widely used in both the oil and gas and wastewater industries to measure and monitor fluid flow rates in crude oil, natural gas, and other wastewater fluids in treatment plants and other facilities.For instance, in 2022, According to the report published by the US Energy Information Administration (EIA), a US-based statistical agency, US gross withdrawals of oil and natural gas both rose, with oil production hitting 11.6 million barrels per day and natural gas production reaching 118.7 billion cubic feet per day in December 2021. Therefore, the growing oil & gas and wastewater industries is driving the growth of the flow meter market going forward.Technological advancement is a key trend gaining popularity in the flow meter market.Major companies operating in the flow meter market are focused on developing innovative solutions to strengthen their position in the market.For instance, in May 2022, SONOTEC, a Germany-based technology company specializing in ultrasonic testing solutions, including flow meters, launched SONOFLOW CO.55, a high-accuracy clamp-on flow meter that uses ultrasonic technology to measure flow rates, and its clamp-on design enables easy installation and maintenance without requiring any interruptions to the flow system, eliminating any risk of contamination. These reusable, non-invasive sensors are suitable for implementation in both single-use and hybrid environments within the bioprocessing industry.In December 2021, Dwyer Instruments, a US-based manufacturing company providing sensors and instrumentation solutions, acquired Universal Flow Monitors, Inc. for an undisclosed amount. Through this acquisition, Dwyer Instruments enhanced its market share in a specialized industrial sector by expanding its product line to include a range of UFM products that are essential for industrial operations and cater to the needs of its customers in various markets. Universal Flow Monitors, Inc. is a US-based manufacturer of flow meters and controllers for fluids and gases in automation, robotics, and other process automation applications.The countries covered in the flow meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The flow meter market research report is one of a series of new reports that provides flow meter market statistics, including global market size, regional shares, competitors with a flow meter market share, detailed flow meter market segments, market trends and opportunities, and any further data you may need to thrive in the flow meter industry. This flow meter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06466551/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________