Global flow meter market poised for growth, expected to reach $14.2 billion by 2032 with ABB, Emerson Electric, Siemens, Schneider Electric and Saison Information Systems leading

Dublin, June 04, 2024 (GLOBE NEWSWIRE) — The “Global Flow Meter Market Report by Product Type, Application and Region 2024-2032” report has been added to ResearchAndMarkets.com’s The offer of

The global flowmeter market is reported to have reached a size of US$ 8.7 billion in 2023 and is projected to expand to US$ 14.2 billion by 2032, progressing at a CAGR of 5.59% during the period 2023-2032.

Market growth is mainly fueled by increasing demand for wastewater management systems, increased safety regulations in the oil and gas industry, advancements in infrastructure development, and widespread adoption of automation in manufacturing sectors.

Industry trends show a significant increase in digital transformation initiatives that incorporate data analytics on flow meters, transforming these tools into intelligent systems essential for optimizing operations, improving predictive maintenance and efficiently managing resources. Likewise, significant infrastructure development activities are underway globally, requiring reliable and efficient flow management solutions provided by these devices.

Product and Application Insights

The market is segmented based on product type, including analog and smart flow meters – with analog flow meters currently holding the largest share due to their effectiveness and reliability. However, smart flow meters are rapidly gaining ground, being valued for their real-time data analysis, energy efficiency and reduced need for manual intervention.

Regional Market Performance

A comprehensive market analysis shows that the Asia Pacific region tops the global market, attributed to rapid industrialization, population growth and extensive infrastructure investment. Global market dynamics are further influenced by the residential sector’s push for water conservation and the widespread adoption of smart metering solutions for leakage and waste management.

Competitive landscape and key developments

Major industry players are intensively engaged in R&D to increase accuracy and functionality, with strategic partnerships playing a key role in expanding their global reach. Recent market developments underscore the trajectory of innovation, as illustrated by ABB Limited’s investment in WindESCo and Emerson Electric Co., introducing a new AI-based software solution to accelerate plant modernization.

Market Perspective

As the global economy continues to evolve and prioritize efficient resource management, the flow meter market is expected to experience robust growth. With increasing global energy demand and a focus on environmental sustainability, the market outlook remains positive, supported by technological advances and an increased awareness of resource conservation.

Industry analysts confidently predict that this momentum in the flowmeter market will continue, with companies investing in both technology and compliance capabilities to meet stringent regulations and operational requirements in various sectors. The comprehensive insights provided indicate key developments and trajectories driving market growth from 2024 to 2032.

Main attributes:

Featured companies

• ABB Group
• Emerson Electric Co.
• Siemens AG
• Schneider Electric SE
• Saison Information Systems Co. Ltd.

For more information about this report, visit https://www.researchandmarkets.com/r/poy5da

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