FLOW METER MARKET ANALYSIS

Flow Meter MarketSize and Trends

The global flow meter market is valued at US$ 7.83 Billion in 2022, exhibiting a Compound Annual Growth Rate (CAGR) of 3.7% from 2023 to 2030.

Flow meters or flow sensors are electronic devices that primarily measure or regulate the flow rate of liquids and gases within pipes and tubes. HVAC systems, medical devices, chemical factories, and septic systems all make use of them frequently. Leaks, obstructions, pipe bursts, and changes in liquid concentration caused by pollution or contamination are the primary things these meters can detect.

In most cases, the flow sensors and devices are connected to the gauges in order to provide their measurements However, they can also be connected to digital interfaces and computers. Contact flow meters and non-contact flow meters are two distinct categories of flow meters. When the liquid or gas being monitored—typically a food product—would otherwise be contaminated or physically altered by coming into contact with the moving parts, non-contact flow meters are used.

The global flow meter market is expected to grow, owing to the increasing adoption of Internet of Things (IoT) based sensors for smart flow meter solutions. Advancements in technologies such as digital readouts, advanced sensors, wireless monitoring, and control are also driving the market growth. Advanced IoT enables automatic readings and collects data automatically and remotely. Technological advancements in products, increasing urbanization, growing population, and rising disposable income are some of the factors that are expected to propel the market growth during the forecast period. However, the calibration of i flow meters is a time-consuming process that is expected to hinder the market growth in the near future. 

Global Flow Meter Market - Trends

Major trends in flow meter technology include digital signals for flow meters, multiple measurement formats, online diagnosis and troubleshooting, remote calibration and configuration, and smart sensors with online alerts. The technological advancements via robust research and development have also enabled the industry to develop appropriate solutions to complex operational problems. Automated cleaning is also one of the revolutionary trends observed in the market. This trend is advantageous for industries such as water and wastewater management.