By 2033, the global flow metres market revenue is projected to increase to US$ 13.2 billion from US$ 8.1 billion. According to Future Market Insights, the market will register a CAGR of 5.0% between 2023 and 2033.

Numerous industries, including the oil and gas, water and wastewater, chemical, and pharmaceutical sectors, among others, use flow metres. The rising demand from these industries is anticipated to fuel the market expansion. The best tool for precise flow calibration equipment needed in industrial activities is a flow metre. Market expansion is anticipated to be supported by rising industrial production.

The oil and gas industry anticipates a rise in flow metre demand as a result of the development of shale gas reserves. Flow metres may be keep an eye on the sector's liquid hydrocarbons as well as the speed of operations both upstream and downstream.

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Maintaining industrial processes at a high standard requires accurate monitoring of liquid and gas flow rates.

Industrial control loops often adjust incoming liquid or gas flow rates, making precise flow rate monitoring essential. Flow meters are crucial instruments for measuring the mass flow rates of liquids, gases, or mixtures of both. The type of flow meter selected depends on the level of precision required and the intended industry use. Due to the benefits they offer, flow meters have been made mandatory by governments all over the world.

In the upcoming years, many intelligent systems are anticipated to be in demand. The advantages of flow meters in process industries are anticipated to be further enhanced by these systems.

The demand for flow meters in the water and wastewater sector is anticipated to be driven by the need for effective water management and conservation. In this industry, the implementation of flow meters aids in the precise measurement and oversight of water usage, hence decreasing wastage.

Magnetic and ultrasonic flow meters are two typical non-invasive flow monitoring methods. They are preferred since they do not cause disruptions. They also require little to no maintenance. This trend is expected to drive the demand for non-invasive flow meters.

Given the different technological developments, the market is anticipated to expand throughout the forecast period. Technology breakthroughs are occurring in several fields, including wireless monitoring and control, advanced sensors, and digital readouts.

Manufacturers are increasingly adopting Internet of Things sensors for smart metering solutions. The cutting-edge IoT method enables remote, automated data collection through automatic meter reading. The incorporation of these technological advancements in products is expected to lead to significant market expansion.

Key Takeaways:

  • The flow meters market in the United States is expected to upsurge at 3.9% CAGR during the forecast period.
  • The market in China is expected to thrive considerably, registering a CAGR of 5.9% from 2023 to 2033.
  • With a CAGR of 4.5% over the forecast period, the market in Japan is predicted to develop notably.
  • The market in South Korea is predicted to expand significantly between 2023 and 2033, reaching a CAGR of 5.4%.
  • The flow meters industry in the United Kingdom is anticipated to rise significantly, exhibiting a CAGR of 4.2% through 2033.

Competitive Landscape:

Several key players in the flow meters market are making significant investments in research and development to create new and inventive goods. Through partnerships and acquisitions, they are also broadening their product offerings. The purpose of these products is to meet the evolving demands of the end user. Companies are also adopting advanced technologies to improve the efficiency and accuracy of their flow metering solutions.

Recent Developments:   

  • In June 2020, ABB launched the Sensyflow FMT700-P Compact, which is a thermal mass flow meter. It is specifically designed for testing hydrogen fuel cells, as well as various components such as turbochargers, throttle valves, air filters, and intake fans.
  • Siemens Digital Industries presented the SITRANS FS230 clamp-on ultrasonic flow meter in February 2020. This flow meter has advanced capabilities for measuring gas flow. It can handle various types of gas and fluid flow applications, including natural, specialized, and system gases.

Key Segments Profiled:

By Type:

  • Differential Pressure
  • Positive Displacement
  • Ultrasonic
  • Turbine
  • Magnetic
  • Coriolis
  • Vortex
  • Others

By End-use Industry:

  • Water & Wastewater
  • Refining & Petrochemical
  • Oil & Gas
  • Chemical
  • Power Generation
  • Pulp & Paper
  • Food & Beverage
  • Pharmaceutical
  • Metals & Mining
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and Africa(MEA)