Intelligent Flow Meter Market with COVID-19 Impact by Type (Magnetic, Coriolis, Ultrasonic, Vortex, Multiphase, Thermal, Turbine, Variable Area, & Differential Pressure), Offering, Communication Protocol, Industry, and Region - Global Forecast to 2025
“The intelligent flow meter market is projected to grow at a significant rate from 2020 to 2025.”
The global intelligent flow meter market size was valued at USD 2.5 billion in 2020 and is projected to reach USD 3.1 billion by 2025; it is expected to grow at a CAGR of 4.4% from 2020 to 2025. The growth of the intelligent flow meter market is driven mainly by the benefits of accuracy, stability, and reliability provided by intelligent flow meters, high demand for these flow meters in chemicals and water & wastewater industries, and rising investments in industrial infrastructure activities.
COVID-19 has emerged as a global pandemic that has spread over 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the intelligent flow meter market.
“PROFIBUS is expected to hold the largest share during the forecast period.”
PROFIBUS is expected to account for the largest share of the overall intelligent flow meter market during the forecast period. PROFIBUS possesses the ability to seamlessly set up communication between process instrumentation systems such as intelligent flow meters and control stations monitoring the flow level and rates. PROFIBUS is safe and reliable communication technology and has advanced diagnostic and networking capabilities. Hence, it is beneficial for major industries such as chemicals, food & beverages, water & wastewater, oil & gas, and pharmaceuticals.
“Water & wastewater industry is expected to grow at the highest CAGR during the forecast period.”
The intelligent flow meter market for the water & wastewater industry is expected to grow at the highest CAGR during the forecast period. The major reasons behind the growth of this market include the increasing need for accurate water flow measurement to avoid wastage and favorable government regulations on the installation of intelligent flow meters for the safe discharge of wastewater and proper distribution of water.
“APAC is projected to grow at the highest CAGR during the forecast period.”
APAC is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to a number of factors such as the rising demand for efficient and accurate measurement devices, increasing industrial infrastructural activities, and high demand for intelligent flow meters in chemicals and water & wastewater industries. The presence of prominent players in the intelligent flow meter market such as Yokogawa Electric (Japan), Azbil (Japan), and Fuji Electric (Japan) support the growth of the market in the region to a large extent.
Break-up of the profiles of primary participants:
By Company Type – Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
By Designation – C-level Executives – 45%, Directors – 35%, and Others – 20%
By Region – North America - 35%, Europe – 30%, APAC – 25%, and RoW – 10%
Major players in the intelligent flow meter market include ABB (Switzerland), Emerson Electric (US), Siemens (Germany), Endress+Houser (Switzerland), Honeywell International (US), Yokogawa Electric (Japan), Baker Hughes (US), and Azbil (Japan).
The intelligent flow meter market has been segmented into type, offering, communication protocol, industry, and region. The intelligent flow meter market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Reasons to buy the report:
Illustrative segmentation, analysis, and forecast of the market based on type, offering, communication protocol, industry, and region have been conducted to give an overall view of the intelligent flow meter market.
A value chain analysis has been performed to provide in-depth insights into the intelligent flow meter market ecosystem.
The key drivers, restraints, opportunities, and challenges pertaining to the intelligent flow meter market have been detailed in this report.
Detailed information regarding the COVID-19 impact and related updates on the intelligent flow meter market has been provided in the report.
The report includes a detailed competitive landscape of the market, along with key players, as well as in-depth analysis of their revenues and market share.
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