Intelligent Flow Meters Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Valve Type (Linear Valve (Globe Valves, Pinch Valves, Others), Rotary Valves (Ball Valves, Plug Valves, Butterfly Valves), By Technology (Intelligent Ultrasonic Flowmeters, Intelligent Vortex Flowmeters, Intelligent Electromagnetic Flowmeters, Others), By Industry Vertical (Chemicals, Oil And Gas, Pharmaceuticals, Water And Wastewater, Paper And Pulp, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Sep 2023
- Report Code : KSI061610192
- Pages : 138
The intelligent flow meters market was valued at US$1.748 billion in 2021 and is expected to grow at a CAGR of 5.62% over the forecast period to be worth US$2.562 billion by 2028.
The intelligent flow meter refers to devices that are designed to measure the rate of fluid flow in a system, such as a pipeline or a tank. Unlike traditional flow meters, intelligent flow meters are equipped with advanced sensing and communication capabilities that provide real-time data on fluid flow rates and other parameters, such as temperature and pressure. Intelligent flow meters are widely used in various industries, including oil and gas, water and wastewater, chemicals, pharmaceuticals, and food and beverage. They play a critical role in ensuring industrial processes' safe and efficient operation by enabling operators to monitor fluid flow rates and detect any abnormalities or deviations from expected values. Some of the key trends in the market include the development of wireless and non-invasive flow measurement technologies, the integration of AI and machine learning algorithms for predictive maintenance and performance optimization, and the increasing use of cloud-based platforms for remote monitoring and data analysis.
In recent years, the intelligent flow meter market has experienced significant growth, driven by the increasing demand for accurate and reliable flow measurement solutions, the growing adoption of industrial automation and control systems, and the emergence of new technologies such as the Internet of Things (IoT) and artificial intelligence (AI).
The intelligent flow meters market is driven by growing water conservation and hydropower industry demand.
Intelligent flow meters provide accurate and reliable measurements of fluid flow rates and other parameters, which is essential for water conservation and hydropower generation. By accurately measuring flow rates, operators can ensure that water is used efficiently and effectively, reducing waste and conserving resources. The importance of safety and environmental sustainability is driving the adoption of intelligent flow meters in the water conservation and hydropower industries. By providing real-time data on flow rates and other parameters, these devices can help operators identify potential hazards and prevent accidents while enabling more efficient use of resources and reducing waste. According to the United Nations, water scarcity affects more than 40% of the global population, which is expected to rise due to climate change, population growth, and urbanization. This has led to an increasing focus on water conservation efforts worldwide, which in turn is driving the adoption of intelligent flow meters and other technologies that can support efficient and sustainable water management.
Additionally, as hydropower generation continues to grow, there will be an increased demand for flow meters to measure water flow in various parts of the hydropower generation process. This could lead to increased demand for intelligent flow meters, which are designed to provide more accurate and reliable measurements. With the rise of hydropower generation, there may be a greater emphasis on using newer and more advanced technologies to optimize the generation process. This could lead to greater adoption of intelligent flow meters, which can provide more advanced data and insights than traditional flow meters.
- In December 2021, ABB announced the launch of the AquaMaster4 Mobile Comms flowmeter. It is a wireless solution for continuous flow measurement and logging of accurate data critical for water management. With superior connectivity on 4G-LTE and NB-IoT networks, it enables 60% lower power consumption and identifies leaks ten times faster than the market standard.
- In August 2022, the Indian government announced financial support of US$400K to M/s Kritsnam Technologies to develop smart water management technologies. As a result, the company created a product called the "Dhaara Smart Flowmeter," which is an all-in-one system that utilizes two-beam ultrasonic flowmeters to monitor water distribution in real-time for various applications such as drinking water supply, industrial water usage, groundwater extraction, and precision irrigation.
Based on industry verticals, the intelligent flow meters market is expected to witness positive growth in the oil and gas segment.
The need for intelligent flow meters in the oil and gas sector is increasing due to the requirement for precise and consistent flow rate measurement and better efficiency. Furthermore, strict environmental emission restrictions and the need for cost-effective solutions contribute to the growth of the intelligent flow meter market in the oil and gas industry. Further, according to the report by Pietro Fiorentini, the oil and gas sector continues to evolve with new research and development initiatives being undertaken worldwide. For example, the ongoing installation of an oil well in the Persian Gulf will likely have a substantial influence on the sector. This project entails extracting oil and gas resources in the region using innovative drilling techniques and equipment.
North America accounted for a major share of the global intelligent flow meters market, especially in the United States.
The intelligent flow meters market has been segmented by geography into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The rise in infrastructure development projects and expenditure by developed countries in North America, such as the US and Canada, is a significant factor driving the growth of the North American intelligent flow meters market. In addition, the region is witnessing a high installation of intelligent flow markets due to the need for precise fluid calibration across many industries, including wastewater treatment and chemical sectors. Simultaneously the advancements in computer and other IT technologies are driving the adoption of intelligent flow meters in North America.
The need for precise liquid or fluid flow tracking in water treatment facilities, power plants, and refineries is increasing the demand for intelligent fluid flow meters across different industrial sectors, including petroleum, chemical, and wastewater management factories in the country. In addition, intelligent flow meters can provide data in real-time to make informed decisions concerning the recalibration of a process or initiation of a specific maintenance procedure, increasing its demand in the US market.
Intelligent Flow Meters Market Scope:
|Market Size Value in 2021||US$1.748 billion|
|Market Size Value in 2028||US$2.562 billion|
|Growth Rate||CAGR of 5.62% from 2023 to 2028|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Valve Type, Technology, Industry Vertical, and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Emerson Electric Co., Endress+Hauser Group Services AG, CIMTEC Automation LLC (General Electric), KROHNE Messtechnik GmbH, Yokogawa Electric Corporation, ABB, Azbil Corporation, Brooks Instrument, Sierra Instruments, Inc., Siemens AG|
|Customization Scope||Free report customization with purchase|
Key Market Segments
- BY VALVE TYPE
- Linear valve
- Globe valves
- Pinch valves
- Rotary Valves
- Ball valves
- Plug valves
- Butterfly valves
- Linear valve
- BY TECHNOLOGY
- Intelligent Ultrasonic Flowmeters
- Intelligent Vortex Flowmeters
- Intelligent Electromagnetic Flowmeters
- BY INDUSTRY VERTICAL
- Oil and Gas
- Water and Wastewater
- Paper and Pulp
- BY GEOGRAPHY
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. INTELLIGENT FLOW METERS MARKET ANALYSIS, BY VALVE TYPE
5.2. Linear valve
5.2.1. Globe valves
5.2.2. Pinch valves
5.3. Rotary Valves
5.3.1. Ball valves
5.3.2. Plug valves
5.3.3. Butterfly valves
6. INTELLIGENT FLOW METERS MARKET ANALYSIS, BY TECHNOLOGY
6.2. Intelligent Ultrasonic Flowmeters
6.3. Intelligent Vortex Flowmeters
6.4. Intelligent Electromagnetic Flowmeters
7. INTELLIGENT FLOW METERS MARKET ANALYSIS, BY INDUSTRY VERTICAL
7.3. Oil and Gas
7.5. Water and Wastewater
7.6. Paper and Pulp
8. INTELLIGENT FLOW METERS MARKET ANALYSIS, BY GEOGRAPHY
8.2. North America
8.2.1. North America intelligent flow meter Market, By Valve Type, 2021 to 2028
8.2.2. North America intelligent flow meter Market, By Technology, 2021 to 2028
8.2.3. North America intelligent flow meter Market, By Industry Vertical, 2021 to 2028
8.2.4. By country
8.3. South America
8.3.1. South America intelligent flow meter Market, By Valve Type, 2021 to 2028
8.3.2. South America intelligent flow meter Market, By Technology, 2021 to 2028
8.3.3. South America intelligent flow meter Market, By Industry Vertical, 2021 to 2028
8.3.4. By Country
8.4.1. Europe intelligent flow meter Market, By Valve Type, 2021 to 2028
8.4.2. Europe intelligent flow meter Market, By Technology, 2021 to 2028
8.4.3. Europe intelligent flow meter Market, By Industry Vertical, 2021 to 2028
8.4.4. By Country
18.104.22.168. United Kingdom
8.5. Middle East and Africa
8.5.1. Middle East and Africa intelligent flow meter Market, By Valve Type, 2021 to 2028
8.5.2. Middle East and Africa intelligent flow meter Market, By Technology, 2021 to 2028
8.5.3. Middle East and Africa intelligent flow meter Market, By Industry Vertical, 2021 to 2028
8.5.4. By Country
22.214.171.124. Saudi Arabia
8.6. Asia Pacific
8.6.1. Asia Pacific intelligent flow meter Market, By Valve Type, 2021 to 2028
8.6.2. Asia Pacific intelligent flow meter Market, By Technology, 2021 to 2028
8.6.3. Asia Pacific intelligent flow meter Market, By Industry Vertical, 2021 to 2028
8.6.4. By Country
126.96.36.199. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Emerson Electric Co.
10.2. Endress+Hauser Group Services AG
10.3. CIMTEC Automation LLC (General Electric)
10.4. KROHNE Messtechnik GmbH
10.5. Yokogawa Electric Corporation
10.7. Azbil Corporation
10.8. Brooks Instrument
10.9. Sierra Instruments, Inc.
10.10. Siemens AG
Emerson Electric Co.
Endress+Hauser Group Services AG
CIMTEC Automation LLC (General Electric)
KROHNE Messtechnik GmbH
Yokogawa Electric Corporation
Sierra Instruments, Inc.
|Report Name||Published Month||Get Sample PDF|
|Smart Sensors Market Size, Share & Growth: Report, 2021-2026||Dec 2021|
|Ultrasonic Sensors Market Size & Share: Industry Report, 2023-2028||May 2023|
|Electromagnetic Flow Meter Market Size & Share: Report, 2021-2026||Nov 2021|
|Flow Battery Market Size & Share: Industry Report, 2021-2026||May 2021|
|Mass Flow Controller Market Trends | Share & Growth | 2021 - 2026||Oct 2021|