NEW YORK, Nov. 24, 2022 /PRNewswire/ -- According to Technavio, the global flow meter market size is projected to grow by USD 3.09 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 6.4% during the forecast period. Moreover, the growth momentum will accelerate. Europe held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 29%.
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Global Flow Meter Market - Parent Market Analysis
Technavio categorizes the global flow meter market as a part of the electronic equipment and instruments, which covers manufacturers of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, and industrial electronics products, as well as electronic manufacturing services. The global electronic equipment and instruments market is expected to grow at a moderate pace. Technavio calculates the global electronic equipment and instruments market size by considering the revenue generated from sales of the associated information communication and technology and electronics products, equipment, and components.
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Global Flow Meter Market - Five Forces
The global flow meter market is fragmented, and the five forces analysis covers–
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Global Flow Meter Market – Customer Landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on the penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Flow Meter Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type, end-user, and region.
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The industrial segment will grow at the highest rate during the forecast period. The demand for flow meters is high from the industrial segment, and it will continue to hold a major share of the market during the forecast period. This is primarily due to the planned investments by prominent companies in major economies of APAC and the Middle East. The industrial segment includes water and wastewater, oil and gas, chemical, power generation, food and beverage, paper and printing, and others.
Geography Overview
By geography, the global flow meter market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global flow meter market.
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Europe held 29% of the global flow meter market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. Russia, Germany, Italy, France, and the UK, which are highly industrialized, will be the major contributing countries. Other European countries, such as Austria, Switzerland, and the Netherlands, are hubs for oil and gas, and chemical manufacturing segments. Moreover, the International Energy Agency (IEA) estimates that Europe's liquefied natural gas (LNG) imports will increase by over 60 billion cubic meters (bcm) by the end of 2022. This trend will necessitate adequate transportation facilities for natural gas, which, in turn, will fuel the demand for flow meters in the oil and gas industry in Europe during the forecast period.
Global Flow Meter Market – Market Dynamics
Key factors driving market growth
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The increasing applications of flow meters are driving the global flow meter market growth.
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Flow meters are used for educational purposes in science and engineering programs.
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Flow meters are also used in housing projects to track the amount of water used.
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In addition, liquid flow meters can provide accurate results regardless of outdoor temperature, pressure, and weather conditions.
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Flow meters also help control the velocity of fluids and reduce water wastage by detecting leakages in pipes.
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The above benefits associated with flow meters will boost the global flow meter market during the forecast period.
Recent trends influencing the market
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The gradual recovery in upstream activities is a key trend in the market.
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In the upstream sector, a flow meter measures each fluid as it leaves the separator and analyzes the content and the flow of oil, water, and gas on a real-time basis. Hence, the use of flow meters enables operators to improve the analysis of the contents of a reservoir.
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In addition, onshore rig utilization has grown considerably in many countries over the past year, which is driving the demand for flow meters from the upstream oil and gas sector.
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Thus, the growth of upstream oil and gas activities and new E&P activities will have a significant impact on the demand for flow meters across the oil and gas value chain during the forecast period.
Major challenges hindering the market growth
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Fluctuations in the prices of crude oil are challenging the global flow meter market growth.
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Fluctuations in the demand and supply of oil and gas can increase or decrease the price. The downturn in global oil prices in 2020 had a significant effect on vendors that offer flow meters to the upstream and midstream phases of the oil and gas industry.
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Such factors may hinder the growth of the global market during the forecast period.
Drivers, Trends, and Challenges are the factors of market dynamics, which state about consequences and sustainability of the businesses. Find some insights from a free sample report!
What are the key data covered in this flow meter market report?
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CAGR of the market during the forecast period
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Detailed information on factors that will drive the growth of the flow meters market between 2023 and 2027
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Precise estimation of the size of the flow meters market and its contribution to the parent market
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Accurate predictions about upcoming trends and changes in consumer behavior
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Growth of the flow meters market across APAC, North America, Europe, Middle East and Africa, and South America
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Thorough analysis of the market's competitive landscape and detailed information about vendors
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Comprehensive analysis of factors that will challenge the growth of flow meters market vendors
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Flow Meter Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2022 |
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Historic Period |
2017 -2021 |
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Forecast period |
2023 -2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.4% |
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Market growth 2023-2027 |
USD 3.09 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.36 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 29% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Leading Vendors, Market Positioning of Vendors |
ABB Ltd., Apator SA, Azbil Corp., Badger Meter Inc., Electronet Equipments Pvt. Ltd., Emerson Electric Co., Endress Hauser Group Services AG, Forbes Marshall Pvt. Ltd, General Electric Co., KROHNE Messtechnik GmbH, Landis+Gyr AG, Max Machinery Inc., Omega Engineering Inc., Osaki Electric Co. Ltd., SICK AG, Toshiba Corp., Yokogawa Electric Corp., Honeywell International Inc., Schneider Electric SE, and Siemens AG |
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Market Dynamics |
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of Contents:
1 Executive Summary
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1.1 Market overview
2 Market Landscape
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2.1 Market ecosystem
3 Market Sizing
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3.1 Market definition
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3.3 Market size 2022
4 Five Forces Analysis
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4.1 Five forces summary
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4.6 Threat of rivalry
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4.7 Market condition
5 Market Segmentation by End-user
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5.1 Market segments
6 Market Segmentation by Type
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6.1 Market segments
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6.2 Comparison by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
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9.1 Market drivers
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9.2 Market challenges
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9.4 Market trends
10 Vendor Landscape
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10.1 Overview
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10.2 Vendor landscape
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10.4 Industry risks
11 Vendor Analysis
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11.1 Vendors covered
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11.3 ABB Ltd.
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11.4 Apator SA
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11.10 Landis Gyr AG
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11.11 Max Machinery Inc.
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11.15 SICK AG
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11.16 Siemens AG
12 Appendix
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12.1 Scope of the report
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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