Water Meter Market Report 2025

The water meter market size has grown strongly in recent years. It will grow from $5.48 billion in 2024 to $5.75 billion in 2025 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rising deployment of smart water meters, and supportive government initiatives.

The water meter market size is expected to see strong growth in the next few years. It will grow to $7.49 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising urbanization, increasing water usage, growing demand for replacement of old water meters, and rise in global population. Major trends in the forecast period include focus on launching ultrasonic smart water meters, partnerships and collaborations, installing wireless water meters, investing in 5g water meters, and mergers and acquisitions to improve their financial strength and product portfolio.

The growing demand for water is anticipated to drive the expansion of the water meter market in the upcoming period. As the population increases, daily water consumption is also rising. Water consumption refers to the volume of water that is not returned to its source after use. Water meters influence this consumption by charging users based on the amount of water utilized and enabling easier detection of leaks in pipes, which reduces water wastage. For example, a report from the World Resources Institute, a US-based non-profit organization, stated in August 2023 that by 2050, water demand in Sub-Saharan Africa is expected to surge by 163% - four times the rate of growth in Latin America, where water demand is projected to rise by 43%. Therefore, increasing water consumption will drive the growth of the water meters market.

The increasing demand for the replacement of outdated water meters is poised to drive the water meter market in the coming years. The existing metering infrastructure often falls short in meeting current requirements, necessitating the replacement of outdated meters with more advanced counterparts. This transition aims to enhance operational efficiency and incorporate cutting-edge technologies. For instance, the City of Richland Hills in Texas, USA, has initiated a water meter replacement project, scheduled to install residential and commercial water meters equipped with an automatic (smart) meter reading system. The project is set to commence in March 2023 and conclude by August 2023. Similarly, in January 2023, Kingsport, a city in Tennessee, USA, announced the initiation of the next phase of water meter replacement projects, intending to replace 10,000 water meters over the next six months. The city envisions completing the replacement of all outdated meters within the next few years. Hence, the growing demand for replacing outdated water meters is expected to drive the expansion of the water meter market.

Major companies in the water meter market are concentrating on developing technologically innovative solutions, such as large-scale smart water meter pilots, to improve water management efficiency. A smart water meter pilot is a trial project aimed at testing and showcasing the capabilities of smart water metering technologies within a specific geographic area or community. For example, in August 2023, Water Corporation, a principal water supplier in Australia, launched a smart water meter pilot program covering 50,000 homes in Western Australia. This initiative is designed to use advanced measuring technology to provide real-time data on water consumption and quickly identify leaks. The smart water meters aim to help residents manage their water usage more effectively and support regional water conservation efforts. The pilot program is expected to enhance operational efficiency for Water Corporation while encouraging sustainable water management practices in the community.

Key companies in the water meter market are prioritizing the development of technologically advanced solutions, such as smart water meters, to improve water management efficiency, minimize wastage, and promote sustainable resource use. A smart water meter is an advanced digital device that accurately measures and records water usage in real time. For example, in November 2022, Landis+Gyr, a Switzerland-based provider of energy management solutions, unveiled its smart water meter at the Enlit Europe event. This smart meter is part of their strategy to expand from energy into water management solutions. It includes advanced IoT capabilities and grid-edge intelligence, enabling water utilities to monitor consumption, identify leaks, and enhance water conservation efforts. Additionally, Landis+Gyr presented their latest innovations in grid-edge and electric vehicle (EV) charging solutions, highlighting their commitment to integrated energy and water management systems for modern utility infrastructure.

In January 2024, Xylem Inc., a US-based water technology company, acquired Evoqua Water Technologies for around $7.5 billion. This strategic acquisition aims to enhance Xylem's portfolio by incorporating Evoqua's advanced water treatment solutions and technologies. The merger will enable Xylem to offer a broader range of sustainable water management services to customers in various sectors, including municipal, industrial, and commercial. Evoqua Water Technologies is a US-based company that provides a variety of flow meters, ranging from non-electrical float-style water meters to flow sensors for inline water meters.

Major companies operating in the water meter market include Badger Meter Inc, Ningbo Water Meter Co Ltd, Roper Technologies Inc, Aichi Tokei Denki Co, Xylem Inc, Itron Inc, Diehl Stiftung & Co. KG, Mueller water products inc, Arad Group, Azbil Kimmon Co Ltd, Diehl Metering, Peltek, Apator, Schneider Electric, Siemens, Honeywell Elster, Aclara Technologies, Landis+Gyr, Sensus, Kamstrup, Jiangxi Sanchuan, Chongqing Smart Water Meter Group Co. Ltd, Hebei Yuanjiang Meters Co. Ltd, Ressam Hardware International Limited, Ningbo LongKang Intelligent Instrument Co. Ltd, Kaifeng flowmeter Instrument Co. Ltd, Tangshan Huizhong Instrumentation Co. Ltd, Hangzhou Powerkey Industries And Trade Co. Ltd, Landustrie Sneek BV, Royal Eijkelkamp, Delta-T Devices Ltd, iSAtech Wate, ZENNER International GmbH & Co, Sontex SA, B Meters Metering Solutions, Neptune Technology Group Inc, Agua y Saneamientos Argentinos, Star Measure, Accell Solutions - Unidade Americana, Bin Moosa & Daly Limited, Kamstrup Middle East FZC, DMC International, Alderley FZE, Halawa Tax Meter, Newterra Ltd, Spire Metering Technology, Idrica, Water Utility Solutions, Deelin Projects, Precision Meters (Pty) Ltd, Indecx Instrumentation, Flotron, Free Rain, Dayliff water meter, Danco.

Asia-Pacific was the largest region in the water meter market in 2024. The regions covered in the water meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the water meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

A water meter is a device that measures the flow of water in a pipe system or outlet, often installed in an underground or above-ground box on public property. These meters typically include automated meter reading technology for efficient monitoring.

Water meters can be categorized into mechanical water meters and smart water meters. Mechanical water meters measure water flow by detecting the movement of water that drives a piston or turbine. They record water usage in domestic connections for billing purposes. On the other hand, smart water meters utilize wireless communication with a network, allowing remote monitoring and leak detection to minimize water wastage. Smart meters come in various types such as ultrasonic, electromagnetic, and mechanical meters, catering to residential, commercial, and industrial applications.

The water meter market research report is one of a series of new reports that provides water meter market statistics, including water meter industry global market size, regional shares, competitors with a water meter market share, detailed water meter market segments, market trends and opportunities, and any further data you may need to thrive in the water meter industry. This water meter 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 water meter market consists of sales of water flow meter, residential water meter, automated water meter control system, water current meter, water activity meter 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.

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