Global Flowmeters Market 2023-2030

Global Flowmeters Market 2023-2030

Global Flowmeters Market Size, Share & Trends Analysis Report by Flow Product (Differential Pressure (DP), Positive Displacement (PD), Magnetic, Ultrasonic, Turbine, and Others), and by Application (Water & Wastewater, Oil & Gas, Chemicals, Power Generation, Food & Beverage, and Others), Forecast Period (2023-2030)

The global flowmeters market is anticipated to grow at a CAGR of 9.1% during the forecast period (2023-2030). Flowmeters are used to measure the mass flow rate or the volumetric flow rate of a fluid in many types of applications. The growing adoption of energy measurement flowmeters coupled with the improving precision temperature sensors is the key factor supporting the growth of the market globally. Market players provide one communication output for multiple meters and reduce the number of connections, daisy chains, and network setup configurations. The market players are also focusing on introducing multiple flowmeter solutions that further bolster the market growth. For instance, in March 2023, ONICON Inc. Launched the System-1000 Flow and energy measurement system, A revolutionary new platform for HVAC instrumentation. One of the key features of the System-1000 is its multiple flow meter options. Designed for networking, up to eight flow meters can be connected to the unit.

Segmental Outlook

The global flowmeters market is segmented on the flow products and applications. Based on the flow product, the market is sub-segmented into differential pressure (DP), positive displacement (PD), magnetic (wired, wireless), ultrasonic, turbine, and others (vortex, Coriolis). Further, based on application, the market is sub-segmented into water & and wastewater, oil & gas, chemicals, power generation, food & beverages, and others (pulp & and paper). Among the application, the water & and wastewater sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of magnetic and ultrasonic flow meters forwastewater treatment.

The Ultrasonic Sub-Segment is Anticipated to Hold a Considerable Share of the Global Flowmeters Market

Among the flow products, the ultrasonic sub-segment is expected to hold a considerable share of the global flowmeters market. The segmental growth is attributed to the growing influence of ultrasonic clamp-on sensor that offers measurement accuracy of up to 1% and hardly any drift at zero flow, with its next-generation flow meter market players improving the clamp-to-clamp repeatability by adjusting the measurement channel architecture. For instance, in May 2022, SONOTEC GmbH launched a new generation of its high-accuracy clamp-on flow meter SONOFLOW CO.55. SONOTEC enhanced its SONOFLOW® CO.55 non-contact flow meter to increase the efficiency throughout PAT-related upstream and downstream processes in biotechnology applications.

Regional Outlook

The global flowmeters market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the increase in demand from water industries to clean effluents from production plants.

The North American region is Expected to Grow at a Significant CAGR in the Global Flowmeters Market

Among all regions, the North American region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to advancements in technologies such as wireless monitoring and control, advanced sensors, and digital readouts. Manufacturers of the product are increasingly adopting the Internet of Things (IoT) sensors for smart metering solutions. The advanced approach of IoT enables automatic meter reading, which collects data automatically and remotely.

Traditional peak flow meters are widely used to measure peak expiratory flow rate (PEF), a key indicator of lung function in asthma patients. For instance, in April 2023, Tenovi launched a cellular FDA-Cleared remote peak flow meter for advanced remote physiological monitoring of asthmatic patients. When combined with Tenovi's Cellular Gateway, the device allows patients with asthma to transmit peak expiratory flow rate (PEF) and 1-second forced expiratory volume (FEV1) readings instantly to clinicians.

Market Players Outlook

The major companies serving the flowmeters market include ABB, Emerson Electric Co., General Electric, Honeywell International Inc., PARKER HANNIFIN CORP., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2022, Sentronics announced a partnership with testing system supplier Horiba UK and launched its next-generation ultrasonic fuel flow meter, dubbed the Horiba RealFlow Powered by Sentronics, for the automotive industry.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global flowmeters market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.