Intelligent Flow Meters Market Size & Growth Analysis to 2030

The global intelligent flow meters market size is anticipated to register a significant CAGR of around 5% during the forecast period 2021 to 2027. The increasing investment in industrial infrastructure and the growing water & wastewater industry are some of the major factors to drive the market growth. Furthermore, the increasing demand for the product due to its benefits such as stability, accuracy, and reliability is further anticipated to fuel the market over the forecast period. Moreover, the rising inclination towards real-time data analysis and preventive maintenance is expected to add some new opportunities to the market.

Market Drivers:

Need for Accurate Flow Measurement: Accurate flow measurement is essential in various industries such as oil and gas, water and wastewater, chemicals, pharmaceuticals, and food and beverages. Intelligent flow meters offer advanced measurement techniques, such as ultrasonic, electromagnetic, and thermal mass flow, which provide accurate and reliable flow measurement. The increasing demand for precise flow measurement in industrial processes drives the adoption of intelligent flow meters.

Regulatory Compliance: Industries are subject to stringent regulatory standards and guidelines that require accurate measurement and monitoring of fluid flows. Intelligent flow meters help meet regulatory compliance requirements by providing accurate and traceable flow data. Compliance with regulations related to environmental protection, safety, and quality control drives the demand for intelligent flow meters.

Process Optimization and Efficiency: Industries strive to optimize their processes and enhance operational efficiency. Intelligent flow meters provide real-time data on flow rates, pressure, temperature, and other parameters, enabling process optimization and control. By monitoring and analyzing flow data, industries can identify inefficiencies, reduce energy consumption, optimize resource utilization, and improve overall process efficiency.

Increasing Industrial Automation: The trend of industrial automation and digitization drives the demand for intelligent flow meters. These meters can be integrated into process control systems and networks, enabling remote monitoring, data logging, and control of fluid flows. Intelligent flow meters play a crucial role in industrial automation by providing accurate and timely flow data for decision-making and process optimization.

Growing Demand for IoT and IIoT Solutions: The adoption of Internet of Things (IoT) and Industrial Internet of Things (IIoT) solutions is increasing across industries. Intelligent flow meters with IoT capabilities can connect to cloud platforms, enabling real-time monitoring, predictive maintenance, and remote access to flow data. The integration of intelligent flow meters into IoT and IIoT ecosystems enhances connectivity, data analysis, and decision-making capabilities, driving their demand.

Advancements in Sensor Technology: Continuous advancements in sensor technology contribute to the growth of the intelligent flow meters market. Sensors such as ultrasonic, electromagnetic, and thermal sensors have improved in terms of accuracy, sensitivity, and reliability. These advancements enable intelligent flow meters to provide precise and consistent flow measurement in various operating conditions.

Focus on Energy Management and Conservation: Energy management and conservation have become critical concerns for industries. Intelligent flow meters help monitor and optimize fluid flows, leading to energy savings and reduced operational costs. By accurately measuring flow rates and identifying energy-intensive processes, intelligent flow meters enable industries to implement energy-efficient strategies and reduce their carbon footprint.

Growing Water and Wastewater Treatment Sector: The water and wastewater treatment sector requires accurate flow measurement for efficient water management, process control, and regulatory compliance. Intelligent flow meters play a vital role in water distribution networks, wastewater treatment plants, and industrial water systems. The increasing demand for water and wastewater treatment solutions drives the adoption of intelligent flow meters in this sector.

Increasing Demand in Oil and Gas Industry: The oil and gas industry requires accurate flow measurement in various applications such as well testing, custody transfer, pipeline monitoring, and refining processes. Intelligent flow meters offer high accuracy, reliability, and robustness in demanding oil and gas environments. The ongoing exploration and production activities, along with the need for efficient flow measurement in the oil and gas sector, contribute to the growth of the intelligent flow meters market.

Focus on Preventive Maintenance and Asset Management: Intelligent flow meters often come with advanced diagnostic and predictive maintenance capabilities. These meters can monitor flow conditions, detect anomalies, and provide early warnings for potential issues. By enabling preventive maintenance and efficient asset management, intelligent flow meters help industries reduce downtime, enhance equipment lifespan, and optimize maintenance costs.

Market Snapshot:

Market Insights:

The global intelligent flow meters market is bifurcated into type, communication protocol, application, and geography. On the basis of type, the market is segmented into coriolis, magnetic, ultrasonic, multiphase, and others. The magnetic segment dominated the global market in 2020 and accounted to hold the largest revenue share of over one-fourth of the market by the end of the analysis period. The widespread use of the magnetic flow meter in the water and wastewater industry is one of the key factor to drive the market growth. Furthermore, the increasing demand for the product in various industries such as food & beverage, chemical, mining, paper & pulp, and others is expected to fuel the segment growth over the forecast period.

On the basis of application, the market is segmented into oil and gas, pharmaceuticals, water and wastewater, and others. The water & wastewater segment is expected to hold the largest revenue share of the market by the end of the analysis period. The strong investment in the water and wastewater industry across the globe is a major factor to drive the segment growth. As per the latest information share by Environmental Protection Agency (EPA), household leaks could waste nearly 1 trillion gallons of water nationwide annually. This is equivalent to the annual household water use of more than 11 million households.

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The intelligent flow meters comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The intelligent flow meters market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Type:

• Coriolis
• Magnetic
• Ultrasonic
• Multiphase
• Vortex
• Variable area
• Differential pressure
• Thermal
• Turbine

By Communication Protocol:

• Profibus
• Modbus
• Hart
• Others

By Application:

• Oil and Gas
• Pharmaceuticals
• Water and Wastewater
• Paper and Pulp
• Power Generation
• Food & Beverages
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, the intelligent flow meters market report comprises dedicated sections centering on the regional market revenue and trends. The intelligent flow meters market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The intelligent flow meters market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Intelligent flow meters market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Competitive Assessment

Some of the major market players operating in the global intelligent flow meters market are ABB Ltd., Honeywell International Inc., Omega Engineering Inc., and Emerson Electric Corporation. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• ABB Ltd.
• Honeywell International Inc.
• Omega Engineering Inc.
• Emerson Electric Corporation
• KROHNE Messtechnik GmbH
• Teledyne Isco Inc.
• Sierra Instruments, Inc.
• Fuji Electric
• General Electric Company
• Azbil Corporation

Key Questions Answered by Intelligent Flow Meters Market Report

• Global intelligent flow meters market forecasts from 2021-2027
• Regional intelligent flow meters market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Intelligent flowmeters submarket forecasts from 2021-2027 covering the market by type, by communication protocol, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about intelligent flow meters market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level intelligent flow meters markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the intelligent flow meters market