Global Liquid Electronic Flowmeter Market Share Is Expected To Grow At A CAGR Of 5.20% By 2028

06-Oct-2022 | Facts and Factors

According to Facts and Factors, the global liquid electronic flowmeter market size was worth around USD 3.4 billion in 2021 and is predicted to grow to around USD 4.85 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.2% between 2022 and 2028.

Liquid flow measurement is a vital requirement in many industrial processes. The capacity to take precise flow measurements is crucial in some processes and can be the key responsible factor for profitability. In other situations, taking measures incorrectly or failing to do so can have negative (or even disastrous) effects. By monitoring the liquid's velocity or the change in kinetic energy, the flow rate is inferentially calculated for the majority of liquid flow measurement systems.

Browse the full “Liquid Electronic Flowmeter Market Size, Share, Growth Analysis Report By Product Type (Integrated Type, Split Type, & Plug-in Type), By End-user Sector (Water Supply Network, Steel Industry, Oil Industry, Chemical Industry, Power Sector, Food & Beverage, Pharmaceutical Sector, Pulp & Paper Industry, and Other End-user Sectors), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/liquid-electronic-flowmeter-market

The electronic liquid flow meter is a device, which is used to measure the mass, volumetric, nonlinear, and linear flow rate of a liquid. It can be used to measure the flow rates of various liquids such as water, acids, bases, petroleum products, and others. There are various types of electronic liquid flowmeters, which are used as per the application areas and liquid employed there.

The demand for liquid electronic flowmeters declined in 2020, considering the rise of COVID-19 cases, during the government-announced lockdowns. During the pandemic, various industries have temporarily stopped their expansion and investment plans. Such factors have decreased the demand for the studied market, as liquid electronic flowmeters are widely used in industries, such as oil, pulp & paper, and others. However, the demand from the pharmaceutical segment increased during the pandemic. Furthermore, considering the post-pandemic scenario, in 2021, the demand has augmented sharply to fill the backlogs of expansion plans from different end-user industries.

The global liquid electronic flowmeter market growth is expected to be driven by the advantages related to using liquid electronic flowmeters and growing demand from rising end-user sectors. Liquid electronic flowmeters are required for measuring the displacement or bulk movement of liquids in wide ranges of applications. These types of flowmeters are highly effective in measuring flows for liquids of various types and concentrations. Electronic liquid flowmeters are effective in corrosive environments too. Recently, manufacturers have developed various advanced liquid electronic flowmeters, which offer long service life and better accuracy. Also, the energy consumption from these electronic liquid flowmeters is very low.

The availability of mechanical substitutes may restrict global market expansion. Various industries are already using mechanical substitutes of liquid electronic flowmeters for measuring the flow. There are various types of mechanical flow meters, which are available for various liquids. Some of them are positive displacement flow meters, piston meters, gear & lobe meters, helix meters, and others. Among these, liquid positive displacement (PD) meters are most used, which are used as residential water meters, across various parts of the globe.

The global liquid electronic flowmeter market is segmented based on product type, end-user sector, and region.

Based on product type, the global market is segmented into integrated type, split type, and plug-in type. Currently, the global market is dominated by integrated types, as these types of flowmeters provide real-time flow information from various industrial pipes and equipment.

Based on the end-user sector, the global market segments are the water supply network, steel industry, oil industry, chemical industry, power sector, food & beverage, pharmaceutical sector, pulp & paper industry, and other end-user sectors. Currently, the global market is dominated by the oil industry, however, there is a significant increase in the demand for liquid electronic flowmeters from the food & beverage and pharmaceutical sectors. According to the BP Statistical Review of World Energy 2022, in 2021, global refinery throughput accounted for 79,229 thousand barrels per day, witnessing a growth rate of 4.8%, compared to 75,591 thousand barrels per day in 2020. Meanwhile, the rising demand for crude oil pipelines is also supporting the demand for liquid electronic flowmeters in the oil industry. For instance, according to the Global Energy Monitor, as of June 2022, the length of the operating pipeline, across the globe, accounted for 290,394.0 kilometers (km). Moreover, around 24,166.0 km is in development, which is likely to come on stream in the coming years. All such factors are favoring the growth of liquid electronic flowmeters in the global oil industry.

The global liquid electronic flowmeter market is anticipated to be dominated by Asia-Pacific led by China, India, and Japan. One of the major reasons for growth in the region includes the huge presence of large end-user industries such as petroleum refining, food & beverage, and pharmaceutical, among others. According to the BP Statistical Review of World Energy 2022, in 2021, refinery throughput in China accounted for 14,461 thousand barrels per day, witnessing a growth rate of 4.6%, compared to 13,824 thousand barrels per day in 2020. Also, in the food industry, as per the Ministry of Industry and Information Technology, the key beverage producers’ output grew by 12% year on year in 2021 to over 183 million tons. Meanwhile, according to the National Bureau of Statistics of China, the total profits of the food industry in China accounted for CNY 618.71 billion in 2021, compared to CNY 620.66 billion in 2020. In India, as per the Indian Brand Equity Foundation (IBEF), the Indian drug & pharmaceuticals sector was valued at USD 24.60 billion in FY 2021-22, compared to USD 24.44 billion in FY 2020-21. All such factors are likely to significantly impact the demand for liquid electronic flowmeters in the region.

North America is also expected to generate significant revenues owing to the increasing demand oil industry. Specifically, the United States comprises the largest oil pipeline network across the globe. According to the Global Energy Monitor, as of June 2022, North America accounts for 126,096.0 kilometers (km) of the operating oil pipeline, around 43% of the global oil pipeline length.

Report Scope

The global liquid electronic flowmeter market is dominated by players like ABB, Aquametro Oil & Marine AG, Badger Meter, Inc., Bronkhorst, Endress+Hauser Group Services AG, Daviteq Technologies Inc, Dwyer Instruments LTD, FLOW-TRONIC S.A./N.V., Fuji Electric Co., Ltd., Hermann Sewerin GmbH, ISOIL Industria Spa, KROHNE Messtechnik GmbH, Malema Engineering Corporation, and Siemens.

Recent Developments:

• In December 2021, Dwyer Instruments announced the acquisition of Universal Flow Monitors, Inc., a leader in the design, development, and manufacture of flow meters and controls in industrial applications.
• In March 2021, Daviteq launched a smart vortex electronic flow meter SVF128 series to replace Compaflow. The flowmeters can be used to measure the flow of liquid in different end-user industries.

The global liquid electronic flowmeter market is segmented as follows:

By Product Type

• Integrated Type
• Split Type
• Plug-in Type 

By End-user Sector

• Water Supply Network
• Steel Industry
• Oil Industry
• Chemical Industry
• Power Sector
• Food & Beverage
• Pharmaceutical Sector
• Pulp & Paper Industry
• Other End-user Sectors

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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