Water Meter Market - Forecast (2021 - 2026)

The water crisis has been a threat to the world since quite a few decades now. According to WHO and UNICEF, 2.1 billion people lack safe potable water at home, and 4.5 billion people lack safely managed sanitation[1].  In order to alleviate this poignant situation, application of water meter has become imperative in the residential sector to keep track of the quality of water and its usage. Now, this is largely stroking the water meter market size, which already had swelled up to approximately $4 billion to $4.5 billion in 2018 as per the market outlook report by IndustryARC’s analyst. Furthermore, due to the continuously growing need of water metering, the water meter market growth is estimated to be an astonishing 10% to 15% in terms of CAGR during the forecast period of 2019 to 2025. 

Water scarcity and drought had become a ubiquitous peril in many parts of Europe during the last decade. Moreover, according to the European Commission, the problem of water was a concert to as much as 500 million European in 2016[2].  Now, this had led to a tectonic shift in the water supply system of the European regions which requires constant measurement of water flow and quality. This created a broad spectrum for water meter market in Europe which had a market share of 18% to 22% in 2018 according to IndustryARC’s market analyst. 

Water Meter Market Outlook:

Water meters, generally owned and maintained by a city/rural water association or a private water company, are displacement meters used to measure the flow of water in gallons or cubit ft. in order to improve the water distribution system. Their application is mainly in the residential, commercial, and industrial sector. 

“The constantly catapulting need for water management due to the necessity for providing potable water and better sanitizing facilities to the world’s population will be the key factor responsible for the rise in the demand for water meters in the residential sector”; highlights the market analyst in water meter market research report. The residential application CAGR is estimated to be a staggering 15% to 20% through to 2025.


Water Meter Market Growth Drivers:

The Global Industrial Development –
The United Nations of Industrial Development Organization (UNIDO), the world is in need of industrial development for greater inclusivity and sustainability. Moreover, the UN’s Sustainable Development Goals (SDGs) program envisions to provide more affordable goods to the world’s population through industrial development[3]. This makes for a perpetually escalating production in the existing industries and emergence of new industries in the near future. Now, these industries will have a gamut of operations involving water which will aid to the water meter market growth.  

  • The Regulations Regarding Wastewater Management –

80% to 90% of wastewater generated in the developing countries is discharged into the surface water bodies without any treatment, according to The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). However, the implementation of stringent environmental laws pertaining to wastewater management is changing the situation. Moreover, wastewater management systems are at apace in developed countries of Europe and North America. Now, these wastewater management systems need water meter to measure the volumetric flow rate, quality, and discharge volume, which is leading to the water meter market growth. 

The Growing Demand in the Commercial Sector –
The commercial corporation and organization bodies are also monitoring the water usage and quality nowadays, and it has become a major water meter marketplace and revenue avenue. 

Water Meter Market Challenges:

Even though the demand for water meters is at its pinnacle, vendors are facing challenges in convincing the utilities to incorporate their product, which is becoming a hindrance to their water meter market revenue. However, with the growing need for wastewater management in the industrial sector, utilities will require water meters which will subsequently reduce the challenges faced by vendors. 


Water Meter Market Key Players Perspective: 

The market leader in water meter market is Sensus (a Xylem brand) which is continuously innovating its strategies to provide advanced water metering technologies. 
Honeywell Inc. which is another key player in the water meter market innovated their technology to provide 600,000 polymer-bodied water meters to Vitens in 2017. 

Some other key players in the market are Diehl Stiftung & Co. KG, Badger Meter Inc, Arad Group, Roper Industries, Itron, Kamstrup Water Metering, Mueller Water Products, and Zenner. 

"We also publish more than 100 reports every month in “Automation and Instrumentation”, Go through the Domain if there are any other areas for which you would like to get a market research study."


Location: United States

Comments

Post a Comment

Popular posts from this blog

Animal Nutrition Market - Forecast (2021 - 2026)

Animal Nutrition Market Overview: As per the Food and Agriculture Organization of the United Nations, the global population will reach the 9 billion mark by 2050, constructing food challenges. Owing to the depletion of arable land as a result of industrialization, food security is a major objective and livestock products are among the prime means to meet such objectives. Economic development has induced pressure on the livestock sector for more efficient production with limited resources; it also supports the income and food security of almost 1.3 billion people. Thus, animal farming sector is capitalizing upon food security concerns, accounting for nearly 40% of the global agricultural production value. Animal nutrition is a necessity with increasing uptake, for the mandatory affluence of global livestock sector and primarily for the rampant production of protein-enriched commodities such as meat, eggs, and milk to feed the majority of the non-vegetarian population globally. Apart...
Read more
Stevia Rebaudiana Market Overview: Stevia Rebaudiana are leaves containing sweetening compounds and are also called as sweet leaves and candy leaves. Stevia Rebaudiana is not chemically processed and also have various advantages. These does not contain any carbohydrates and calories, this being the important reason on the increased usage of stevia. The market for Stevia was valued at $476.46 million in 2017 and is estimated to reach by $781.61 million in 2023 with a projected CAGR of 8.6%. China has been the largest producer of stevia followed by the U.S. In terms of consumption, APAC is the largest consumer of stevia followed by the North American region. Stevia Rebaudiana Market Outlook: Stevia Rebaudiana has two sweetening agents namely stevioside and rebaudioside. Rebaudioside is the major ingredient that is responsible for the major sweetness. Rebaudiana is more expensive due to its further processing and filtration. Stevia leaves can be directly added to the beverages or could b...
Read more

Snack Pellets Market - Forecast (2021 - 2026)

Snack Pellets Market Overview: As per the statistics provided by “Trading Economics” the disposable personal income in the United States averaged $5,287.79 billion from 1959 until 2019 . The rise in disposable income is the main factor which is gravitating people towards preferring snack products over traditional meals. Hectic life, busy schedules, and extended professional timings are giving rise to undefined food habits and the traditional way of cooking and eating meals has been subsiding. In the busy professional and personal life, people have started opting for snack pellets, as it saves time and also relieves them from stress and boredom. Additionally, increasing food cravings among people, wide varieties of snacks in terms of shape, color, and flavor, and high availability of raw materials are fuelling the growth of snack pellets market. The global snack pellets market had a market size of $6.4 billion in 2018 and it is expected to grow at a CAGR of 5.80% during 2019-2025. ...
Read more