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Liquid Electronic Flowmeter Market Size, Share Global Analysis Report, 2022 – 2028
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
Industry Insights
[208+ Pages Report] According to the report published by Facts 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 5.20% between 2022 and 2028. The report analyzes the global liquid electronic flowmeter market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the liquid electronic flowmeter market.
Market Overview
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 the industry’s 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.
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.
Key Insights
- As per the analysis shared by our research analyst, the global liquid electronic flowmeter market is estimated to grow annually at a CAGR of around 5.20% over the forecast period (2022-2028).
- In terms of revenue, the global liquid electronic flowmeter market size was valued at around USD 3.4 billion in 2021 and is projected to reach USD 4.85 billion, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on product type segmentation, the integrated type was predicted to show maximum market share in the year 2021
- Based on end-user sector segmentation, the oil industry was the leading revenue-generating industrial vertical in 2021.
- Based on region, Asia-Pacific was the leading revenue generator in 2021.
Covid-19 Impact
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 & 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 and 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.
Growth Drivers
- Advantages related to the use of liquid electronic flowmeter to drive market growth during the forecast period.
Considering the wide range of advantages of liquid electronic flowmeters, their demand is likely to rise in the coming years, at a significant rate. 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 & concentrations. Electronic liquid flowmeters are effective in corrosive environments too. They can be used to measure flow for acids & bases as well as water in various end-user applications. Apart from these, liquid electronic flowmeters are also used to measure explosive liquids, paints, combustible fuels, slurries, & abrasives, among others. Recently, manufacturers have developed various advanced liquid electronic flowmeters, which offer long service life & better accuracy. Also, the energy consumption from these electronic liquid flowmeters is very low.
Restraints
- Availability of mechanical substitutes to restrict 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. As water flows through the metering chamber, it causes a disc to wobble (nutate), turning a spindle, which rotates a magnet. Rotating vane meters, a type of PD meter, are widely used in the petroleum industry and are capable of handling solids-laden crude oils at flow rates as high as 17,500 gallons per minute (GPM). Considering the wide applications of mechanical liquid flowmeters, the demand for global electronic liquid flowmeters market is likely to be hindered, in the coming years.
Opportunities
- Technological advancements in various end-user industries are likely to provide growth opportunities
Currently, various end-user sectors of liquid electronic flowmeters are likely to be technologically advanced such that, flow data from every end of pipes & equipment can be monitored and controlled from one dashboard. These electronic liquid flowmeters can transmit their precisely captured data efficiently to the required locations. In the coming years, every industry is likely to be based on artificial intelligence and advanced software technologies, where these electronic liquid flowmeters will play an important role. Self-cleaning electronic liquid flowmeters will also help the end-user industries to save their time & cost of maintenance.
Challenges
- Technical problems and high-cost factors are expected to challenge market cap growth
Few liquid electromagnetic flow meters can be used only for liquids that have reasonable electrical conductivity. Also, these electronic flow meters need to be calibrated carefully, during the start of the service cycle or after repairing. Apart from these, the cost of electronic liquid flow meters is higher than that of conventional mechanical flow meters. All such factors are likely to act as challenges to the demand for the global liquid electronic flowmeter market. However, these challenges can be overcome, considering the wide advantages of liquid electronic flow meters.
Segmentation Analysis
The global liquid electronic flowmeter market is segmented based on product type, end-user sector, and region.
Based on product type, the global market segments are 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 is segmented into the water supply network, steel industry, oil industry, chemical industry, power sector, food & beverage, pharmaceutical sector, pulp & paper industry, and other end-user sectors. The oil industry accounted for the largest share in the studied market in 2021, considering its wide application in both upstream and downstream oil applications. 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.
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 & 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.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 3.4 Billion |
Projected Market Size in 2028 |
USD 4.85 Billion |
CAGR Growth Rate |
5.20% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
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, Siemens., and others. |
Key Segment |
By Product Type, End-user Sector, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Regional Analysis
- Asia-Pacific is expected to lead the market, owing to the presence of large end-user industries.
The global liquid electronic flowmeter market growth is expected to be driven by Asia-Pacific. The region is home to one of the world’s largest end-user industries of liquid electronic flowmeters, including, downstream oil processing, chemical industry, food & beverage industry, and others. These end-user industries are widely distributed in China, India, and Japan. 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. Moreover, China accounted for around 18.3% of the share in global refinery throughput. In the food & beverage sector, China holds a significant position in the region. For instance, according to 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.
Competitive Analysis
- 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
- Siemens.
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 Regional Segment Analysis
- 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
Table of Content
Industry Major Market Players
- 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
- Siemens.
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