This report describes and explains the water meter market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global water meter market reached a value of nearly $14.04 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4% since 2018. The market is expected to grow from $14.04 billion in 2023 to $18.97 billion in 2028 at a rate of 6.2%. The market is then expected to grow at a CAGR of 6.9% from 2028 and reach $26.46 billion in 2033.
Growth in the historic period resulted from the increasing smart city projects, rapid urbanization, investments in water infrastructure and increasing industrialization. Factors that negatively affected growth in the historic period was cost of installing and maintaining smart meters.
Going forward, growing demand for replacement of old water meters, increasing water consumption, increasing water scarcity and supportive government initiatives will drive the growth. Factor that could hinder the growth of the water meter market in the future include supply chain disruptions.
The water meter market is segmented by product type into mechanical water meter and smart water meter. The mechanical water meter market was the largest segment of the water meter market segmented by product type, accounting for 73.3% or $10.29 billion of the total in 2023. Going forward, the smart water meter segment is expected to be the fastest growing segment in the water meter market segmented by product type, at a CAGR of 8.4% during 2023-2028.
The water meter market is segmented by application into residential, commercial and industrial. The residential market was the largest segment of the water meter market segmented by application, accounting for 75.2% or $10.56 billion of the total in 2023. Going forward, the industrial segment is expected to be the fastest growing segment in the water meter market segmented by application, at a CAGR of 6.5% during 2023-2028.
Asia-Pacific was the largest region in the water meter market, accounting for 33.7% or $4.72 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the water meter market will be Asia-Pacific and Western Europe where growth will be at CAGRs of 6.7% and 6.3% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 6% and 5.6% respectively.
The global water meter market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.23% of the total market in 2023. Badger Meter, Inc. was the largest competitor with a 4.01% share of the market, followed by Mueller Water Products Inc with 3.65%, Xylem Inc. with 3.20%, Kamstrup A/S with 2.61%, Ningbo Water Meter Co Ltd with 1.62%, Aichi Tokei Denki Co with 1.54%, Diehl Stiftung & Co. KG with 1.52%, Landis+Gyr with 1.47%, Roper Technologies, Inc. with 1.33% and Itron Inc. with 1.30%.
The top opportunities in the water meter market segmented by product type will arise in the mechanical water meter segment, which will gain $3.07 billion of global annual sales by 2028. The top opportunities in the water meter market segmented by application will arise in the residential segment, which will gain $3.76 billion of global annual sales by 2028. The water meter market size will gain the most in the USA at $1.34 billion.
Market-trend-based strategies for the water meter market include integration of IoT for enhanced water usage monitoring, development of wireless water meter solutions to enhance efficiency, launch of prepaid water meters for enhanced financial transparency and development of ultrasonic smart water meters to accurately measure water flow and consumption.
Player-adopted strategies in the water meter market include focus on enhancing its business operations through securing regulatory certifications, strengthening business operations by launching new programs through strategic partnerships, enhancing product reliability and user experience by introducing innovative products, leveraging advanced technology to provide innovative solutions that integrate seamlessly into existing infrastructure and enhancing its business operations through new product solutions.
To take advantage of the opportunities, the analyst recommends the water meter companies to focus on integrating IoT for enhanced water metering, focus on wireless technology for streamlined installation, focus on launching prepaid water meters, focus on integrating smart technology, focus on the fastest-growing smart water meter segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on targeted outreach and engagement, focus on leveraging industry partnerships and focus on targeting industrial end-users.
The global water meter market reached a value of nearly $14.04 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4% since 2018. The market is expected to grow from $14.04 billion in 2023 to $18.97 billion in 2028 at a rate of 6.2%. The market is then expected to grow at a CAGR of 6.9% from 2028 and reach $26.46 billion in 2033.
Growth in the historic period resulted from the increasing smart city projects, rapid urbanization, investments in water infrastructure and increasing industrialization. Factors that negatively affected growth in the historic period was cost of installing and maintaining smart meters.
Going forward, growing demand for replacement of old water meters, increasing water consumption, increasing water scarcity and supportive government initiatives will drive the growth. Factor that could hinder the growth of the water meter market in the future include supply chain disruptions.
The water meter market is segmented by product type into mechanical water meter and smart water meter. The mechanical water meter market was the largest segment of the water meter market segmented by product type, accounting for 73.3% or $10.29 billion of the total in 2023. Going forward, the smart water meter segment is expected to be the fastest growing segment in the water meter market segmented by product type, at a CAGR of 8.4% during 2023-2028.
The water meter market is segmented by application into residential, commercial and industrial. The residential market was the largest segment of the water meter market segmented by application, accounting for 75.2% or $10.56 billion of the total in 2023. Going forward, the industrial segment is expected to be the fastest growing segment in the water meter market segmented by application, at a CAGR of 6.5% during 2023-2028.
Asia-Pacific was the largest region in the water meter market, accounting for 33.7% or $4.72 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the water meter market will be Asia-Pacific and Western Europe where growth will be at CAGRs of 6.7% and 6.3% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 6% and 5.6% respectively.
The global water meter market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.23% of the total market in 2023. Badger Meter, Inc. was the largest competitor with a 4.01% share of the market, followed by Mueller Water Products Inc with 3.65%, Xylem Inc. with 3.20%, Kamstrup A/S with 2.61%, Ningbo Water Meter Co Ltd with 1.62%, Aichi Tokei Denki Co with 1.54%, Diehl Stiftung & Co. KG with 1.52%, Landis+Gyr with 1.47%, Roper Technologies, Inc. with 1.33% and Itron Inc. with 1.30%.
The top opportunities in the water meter market segmented by product type will arise in the mechanical water meter segment, which will gain $3.07 billion of global annual sales by 2028. The top opportunities in the water meter market segmented by application will arise in the residential segment, which will gain $3.76 billion of global annual sales by 2028. The water meter market size will gain the most in the USA at $1.34 billion.
Market-trend-based strategies for the water meter market include integration of IoT for enhanced water usage monitoring, development of wireless water meter solutions to enhance efficiency, launch of prepaid water meters for enhanced financial transparency and development of ultrasonic smart water meters to accurately measure water flow and consumption.
Player-adopted strategies in the water meter market include focus on enhancing its business operations through securing regulatory certifications, strengthening business operations by launching new programs through strategic partnerships, enhancing product reliability and user experience by introducing innovative products, leveraging advanced technology to provide innovative solutions that integrate seamlessly into existing infrastructure and enhancing its business operations through new product solutions.
To take advantage of the opportunities, the analyst recommends the water meter companies to focus on integrating IoT for enhanced water metering, focus on wireless technology for streamlined installation, focus on launching prepaid water meters, focus on integrating smart technology, focus on the fastest-growing smart water meter segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on targeted outreach and engagement, focus on leveraging industry partnerships and focus on targeting industrial end-users.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Water Meter Market - Macro-Economic Scenario
9 Global Market Size and Growth
10 Global Water Meter Market Segmentation
11 Water Meter Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Water Meter Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Water Meter Global Market Opportunities And Strategies To 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global water meter market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for water meter? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The water meter market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider water meter market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product type and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the water meter market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product type and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for water meter providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Product Type: Mechanical Water Meter; Smart Water Meter2) By Application: Residential; Commercial; Industrial
Key Companies Mentioned: Badger Meter, Inc.; Mueller Water Products Inc; Xylem Inc.; Kamstrup A/S; Ningbo Water Meter Co Ltd
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; water meter indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Badger Meter, Inc.
- Mueller Water Products Inc
- Xylem Inc.
- Kamstrup A/S
- Ningbo Water Meter Co Ltd.
- Aichi Tokei Denki Co
- Diehl Stiftung & Co. KG
- Landis+Gyr
- Roper Technologies, Inc.
- Itron Inc.
- Unabiz pte ltd.
- Shenzhen Kaifa Technology Co., Ltd
- Cranberry Analytics Private Limited.
- ABB India
- Hangzhou Laison Technology co. ltd.
- Peltek
- Apator
- Schneider Electric
- Siemens
- Honeywell Elster
- Aclara Technologies
- Arad Group
- Sensus
- Jiangxi Sanchuan
- Severn Trent plc.
- Telefonica Tech
- Veolia Water
- E. ON
- EQT AB
- Landustrie Sneek BV
- Royal Eijkelkamp
- Delta-T Devices Ltd.
- Aerzener Maschinenfabrik
- Fecosan S. QED Environmental Systems
- iSAtech Wate
- ZENNER International GmbH & Co
- Vestra
- Sontex SA
- B Meters Metering Solutions
- Mueller Water Products
- Neptune Technology Group Inc.
- Master Meter, Inc.
- Metron-Farnier LLC
- Trilliant Trenton Water Works (TWW)
- Agua y Saneamientos Argentinos
- Star Measure
- Accell Solutions - Unidade Americana
- Romy Water Group
- Hydrometer Brazil
- Hidrocontrol S.A.
- Maderas Hnos. Ltda.
- Sabesp
- Isotron Chile S.A.
- Bin Moosa & Daly Limited
- Kamstrup Middle East FZC
- DMC International
- Alderley FZE
- Halawa Tax Meter
- Newterra, Ltd.
- Spire Metering Technology
- Idrica
- Munters
- Esli Water Treatment Company
- Iran Water Meter Co.
- Saudi Meters Company
- TAQA
- Water Utility Solutions
- Deelin Projects
- Precision Meters (Pty) Ltd.
- Willz Plumbing
- JCP Plumbing
- Indecx Instrumentation
- Flotron
- Free Rain
- Dayliff water meter
- Maji Milele
- Danco
- Guyana Water Inc.
- Lesira-Teq
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 238 |
| Published | September 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 14 Billion |
| Forecasted Market Value ( USD | $ 26.5 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 79 |
