Water Meter Market

Global Water Meter Market Size & Growth (2023 - 2028)

Water meters are devices used for helping consumers to understand the extent of water consumption. It is also made the method of billing way easier by analyzing the number of water consumption. The importance and use of water meters are increasing within the recent years' thanks to depletion of water resources because of the increasing awareness for installing water meters, the global water meters market is estimated to grow and reach a worth of about USD 6 billion by the end of 2025 at a CAGR of 4.8%.

Recent Developments

• McWane India recently launched a replacement product called Aquamesh that used IoT enables technology to watch, measure and control the utilization of water.
• In the Smart India Hackathon held in 2019, a bunch of scholars made a meter that uses conversion technology to make power from the vibration of water flowing.
• Recently, Xylem Inc. acquired Sensus USA Inc. making it one in every of the key market players within the smart meter market.
• Southwest water just confirmed its merger during which the institutional investors have acquired the corporate.

Impact of COVID-19

The COVID-19 pandemic has affected markets all around the world. Although, most of the markets have experienced a sharp decline in growth rate, the water meters market is estimated to fall in growth by about 3%. Since in most of the countries installing water meters is not an option but a legal obligation, the market is expected to bounce back to recovery very soon. Moreover, the increased use of water for sanitation purposes has forced the government and the people themselves to watch over their water consumption through water meters. However, in many countries, the imposed quarantines by the government have led to breaking vendor-supply chains which have led to losses to many companies in this market. In places where the water meters are supplied mainly by small businesses, the situation can prove to be fatal for the market since it can take years to build back the vendor supply chain and the lost businesses.

In some parts of the world like North America, new types of water meters have recently been created which rely more on software rather than hardware. These water meters are equipped to reduce contact with the hardware and are even more efficient since they require less maintenance. Overall, even though COVID 19 has negatively affected the market, it is predicted that the market would not fall more than 3% in value and soon bounce back with even better products to its booming growth rate again.

Market Growth

Earlier, with no or some water meters, it became difficult to trace and analyse the water consumption and even the billing was a tedious process. Often, people ended up paying far more than the value similar to their water consumption. Especially in places with water scarcity, people often ended up consuming more water than the local water resources can renew. After the introduction of water meters, it's been extensively employed in the commercial, domestic likewise as industrial domains because of its extensive usage, with North America as a serious shareholder.

Drivers

The increasing demand for water meters is attributed to the governments all round the world trying to decrease water consumption because of factors like faster urbanisation, increment etc. From a financial point of view, leaks in pumps or water pipes can cause huge wastage of water and also an enormous bill. Water meters help to spot the leaks so they'll be fixed at the earliest. But being employed by households to manage their water billing expenses, water meters also are widely demanded in commercial areas like hospitals, restaurants etc. and industries especially those which are employed in manufacturing. Moreover, in light of the continuing pandemic, water consumption because of sanitation is at its highest and it's become even more important to observe over water consumption.

Restraints
Currently, the technology development and adoption of advanced technologies, like IoT and analytics, within the water sector is lagging in comparison to other utilities like electricity and gas. Moreover, systems of water meters in many countries are running out-dated infrastructure, and technologies that utilities depend on managing water are very old, which has resulted in increased non-revenue water while there's rising awareness and demand for water meters, the technology aspects haven’t held to the demand obviously.

WATER METER MARKET REPORT COVERAGE:

Water Meter Market Segmentation

Water Meter Market By Structure Type:

 the market of water meters is split into Multi-jet, Rotary piston, Woltman, ultrasonic and electromagnetic. Electromagnetic is the most popularly used type compared to others.

Water Meter Market By Application:

 the global water meter market is split into domestic, commercial and industrial. The domestic use of water meters has been on the lead since 2018 and it's predicted that this pattern will still repeat because of the growing awareness for water meters amongst households.

Regional Analysis
In terms of geography, the global water meters market is segmented into North America, Asia Pacific, Europe, South America, and Middle East and Africa. Of these, the Asian Pacific countries are predicted to guide the worldwide market throughout the foreseen period of 2020 to 2025. Due to the improving infrastructure within the region and a powerful presence of several meter manufacturers, Asia Pacific regional market is expected to stay at the forefront.

Leading Company
Sensus is the largest manufacturer of water meters, with the sales market share of 8.00% in 2015.

Key Players
The main players within the market are -:

• Diehl Stiftung & Co. KG
• Azbil Kimmon Co., Ltd.
• Badger Meter, Inc.
• Elster Group GmbH
• Neptune Technology Group Inc.
• G. Gioanola S.R.L.
• Aichi Tokei Denki Co., Ltd
• Apator SA
• Arad Group
• Fedrel Meter
• B Meter
• Itron Inc.
• Master Meter, Inc.
• Maddalena Spa
• Kamstrup A/S
• Sensus (Xylem Inc.)
• ZENNER International GmbH & Co. KG
• Mueller Systems LLC
• Plata Meter Co., Ltd