The global water meter shipment size stood at 122.56 million units in the previous year and is projected to reach 164.32 million, growing at a CAGR of 4.88% during the forecast period.
Water meter refers to devices used to measure the flow and volume of water used across various end-use cases, including residential, commercial, industrial, etc. Over the years, the water meter technology has evolved significantly. The most common types of water meters in use include velocity, displacement, and electromagnetic or ultrasonic water meters.
The Water Meter Market is highly fragmented, with the presence of major players like Badger Meter Inc., Diehl Metering GMBH (Diehl Stiftung & Co. KG), Bm Water Meters, Ningbo Water Meter (Group) Co. Ltd, and Honeywell International Inc. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
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