According to the new market research report "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 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 key factors fueling the growth of this market include 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 the growing use of intelligent flow meters for diagnostic information along with measurement data.
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The ultrasonic flow meter segment is expected to grow at the highest CAGR in the forecast period.
Ultrasonic flow meters (UFM) are the most widely used non-contact type flow meters for measuring pipe flow. These flow meters are preferred for their advantages, such as high resolutions with less noise interference on the output. This category of smart flow meters can measure the custody transfer of natural gas. This feature has benefited the UFM in gaining a huge demand over the years. These meters are widely used in the chemicals industry because of their non-invasive nature.
The water & Wastewater Industry is expected to grow at the highest CAGR in the forecast period.
The water & wastewater industry is one of the fastest-growing industries in the intelligent flow meter market. The accuracy of intelligent flow meters varies with industry, and the water & wastewater industry requires maximum accuracy to avoid water wastage. Major intelligent flow meter types such as magnetic, ultrasonic, coriolis, vortex, thermal, and turbine are widely used in this industry for accurate water flow measurement for the safe disposal of wastewater and the provision of clean water. Magnetic flowmeters are ideal for water & wastewater systems where a low-pressure drop and low maintenance are required. Therefore, magnetic flow meters are the major choice in the water & wastewater industry.
APAC is projected to be the largest market for an intelligent flow meters from 2020 to 2025.
APAC is expected to lead the intelligent flow meter market by contributing the largest share in 2019. 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), supports the growth of the market in the region to a large extent.
The key players operating 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) among others.
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