Totalizing Fluid Meter And Counting Device Global Market Report 2024

The totalizing fluid meter and counting device market size has grown steadily in recent years. It will grow from $29.13 billion in 2023 to $30.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth experienced during the historical period can be credited to several factors, including industrialization, effective utility and resource management, advancements in metering technology, adherence to regulatory standards, and the implementation of automation and process control systems.

The totalizing fluid meter and counting device market size is expected to see steady growth in the next few years. It will grow to $36.81 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The anticipated growth in the forecast period can be ascribed to a focus on energy and resource efficiency, the adoption of smart metering and Internet of Things (IoT) technologies, enhanced environmental monitoring, regulatory compliance, and reporting requirements, as well as the integration of renewable energy sources. Notable trends expected in the forecast period encompass the widespread adoption of smart metering solutions, the utilization of data analytics and visualization tools, the implementation of non-invasive metering techniques, the development of compact and modular designs, and a shift towards environmentally-friendly materials.

The growth of flow meter and counting device manufacturers is significantly influenced by the increasing demand from automotive manufacturing companies. This boost in demand is a result of the growing popularity of public transportation and the rapid expansion of the automotive industry. For example, in 2021, Statistics Canada reported a 6.5% increase in new car registrations, totaling 1.6 million new cars registered, compared to the previous year. This surge in automotive manufacturing is expected to drive the market for flow meters and counting devices, including parking meters, taxi meters, motor vehicle gauges, and fare collection equipment.

The primary categories of totalizing fluid meters and counting devices encompass differential pressure flow meters, positive displacement flow meters, velocity flow meters, mass flow meters, and open channel meters. Differential pressure flow meters are employed to quantify the volume of gases, liquids, and steam, with a particular focus on applications with high pressure, high temperature, or significant pipe diameters. These devices find practical use across a wide range of industries and sectors, including water and wastewater management, refining and petrochemicals, oil and gas exploration, chemical production, power generation, pulp and paper manufacturing, and metals and mining operations.

The totalizing fluid meter and counting device market research report is one of a series of new reports that provides totalizing fluid meter and counting device market statistics, including totalizing fluid meter and counting device industry global market size, regional shares, competitors with a totalizing fluid meter and counting device market share, detailed totalizing fluid meter and counting device market segments, market trends and opportunities, and any further data you may need to thrive in the totalizing fluid meter and counting device industry. This totalizing fluid meter and counting device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The expansion of the oil and gas industry is anticipated to fuel the growth of the totalizing fluid meter and counting device market. The oil and gas industry, a global sector encompassing exploration, extraction, production, refining, and distribution of petroleum and natural gas products, relies heavily on accurate fluid flow measurement. This is crucial for purposes such as monitoring well production rates, managing pipeline transportation, and refining processes. For example, in September 2023, a UK government report revealed a substantial increase in the country's oil and gas output, generating $1.47 billion in the tax year 2021-2022, up from $0.32 billion the previous year. This growth in the oil and gas sector is expected to drive the market for flow meters and counting devices.

The totalizing fluid meter and counting device market may face challenges due to rising geopolitical tensions and trade protectionism. These issues have led to sanctions on countries, trade restrictions, and heightened military tensions in various regions. Many countries are imposing trade restrictions to promote local production. For example, Brexit has led to increased trade restrictions between the UK and other European countries, while the US has implemented trade restrictions, particularly with China. Notably, the US imposed tariffs on steel and aluminum, resulting in cost inflation for totalizing fluid meters and counting devices. Ongoing global violence and terrorism are also expected to negatively impact the market.

Major companies in the totalizing fluid meter and counting device market are adopting smart technology to enhance decision-making and drive profits. Technology is being used to optimize payment methods, subscription management, enforcement, and data analysis for end-user companies. Counting devices like parking meters are being transformed with the integration of smart technologies. Companies such as IPS Group have introduced innovations like the Park Smarter app, allowing drivers to connect directly to parking meters using smartphones for cashless transactions. Other companies like ParkiFi are utilizing big data and sensors to make parking meters more intelligent.

Major companies operating in the totalizing fluid meter and counting device market are investing in cutting-edge technologies. An example is the Telraam S2, a specially designed device developed in the EU and designed in Belgium. This device addresses the demand for cost-effective gadgets capable of tracking street mobility more comprehensively than traditional counting methods. It employs artificial intelligence (AI) to facilitate highly accurate and focused citizen science data collection, simplifying device installation and connection.

In September 2022, the Netherlands-based Muon Group, specializing in electroforming, chemical etching, and laser material processing, was acquired by IDEX Corporation for an undisclosed amount. This strategic acquisition allows IDEX Corporation, a US-based company producing positive displacement flow meters, to leverage Muon Group's precision tech manufacturing expertise for enhanced engineered solutions in critical applications.

Major companies operating in the totalizing fluid meter and counting device market include Honeywell International Inc., Emerson Electric Co., General Electric, Siemens, ABB Group, Badger Meter Inc., Yokogawa Electric, Endress+Hauser AG, Krohne Messtechnik GmbH, Azbil Corporation, Schneider Electric SE, KROHNE Inc., Itron Inc., Elster Group GmbH, Landis+Gyr AG, Diehl Metering GmbH, Iskraemeco d.d., Apator S.A., Zenner International GmbH & Co. KG, Sappel, Pietro Fiorentini S.p.A., Kamstrup A/S, Itron SAS, Maddalena S.p.A., Sensus USA Inc., Arad Group, Qianwei Kromschroder Meters (Sichuan) Co. Ltd., Ningbo Water Meter Co. Ltd., Shenzhen Huaxuanyu Technology Co. Ltd., Master Meter Inc.

Asia-Pacific was the largest region in the totalizing fluid meter and counting device market in 2023. North America was the second-largest region in the totalizing fluid meter and counting device market. The regions covered in the totalizing fluid meter and counting device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the totalizing fluid meter and counting device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The totalizing fluid meter and counting device market consist of sales of gas consumption meters, water consumption meters, parking meters, taxi meters, gauges for motor vehicles and equipment for collecting fare, and other totalizing fluid meter and counting devices. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.