The global water meter market size was around $4.5 billion as of the end of 2018, according to a newly compiled business intelligence study from IndustryARC. The research report has projected the demand in the global water meter market to grow at a profitable CAGR of 15% during the forecast period 2019-2025. The report is titled: “ — Water Meter Market: By Type (Mechanical, Smart); By Application (Residential, Commercial, Industrial) & By Region (Europe, Asia-Pacific, North America, RoW) - Forecast (2019-2025).” This report covers water meter market Size by Product and applications, water meter market share by top 5 companies and also the market share by start-ups during the forecast period.
The analyst of the report notes the demand for accurate billing with the detection of theft, reduction and saving on overall water consumption, ability to remote cut off the supply in case of exceeded consumption, smart functionality, and need for tamper-proof meters as some of the factors poised to drive the water meter market.
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Water Meter Market Segment Analysis:
Residential application is holding major share among other applications in the water meter market and is projected to grow at a brilliant CAGR of 15% - 20% from 2019 to 2025. Next generation smart water metering deals with the residential water meter. It uses the latest ultrasonic technology to obtain significant data in less time coupled with enhanced operations.
On the basis of geographical analysis, Europe is the leading region holding a share of around 18% - 22% in the global water meter market.
Water Meter Market Product Analysis:
Water is an essential element associated with everyone in the world on a daily basis. Nowadays it has become compulsory to save and preserve energy resources for future generations. So it is everyone’s responsibility to safeguard the water by sustainable management that is through measuring the consumption of water. Water meter is an effective way to regulate the world’s water challenges.
Water meter is used to measure the usage of water, in terms of gallons. It is majorly used to measure the water use at residential and commercial buildings when supplied from a public water supply system. Metering plays a vital role in a water distribution system to evaluate the performance of the network. These meters provide real-time information to the water company’s regarding the leaks and irregularities involved at an early stage so that consumption data is accessible to consumers and enables to regulate their consumption. Displacement meters are highly recommended to measure higher liquid viscosities with more accuracy and in case of repeatable functionality as well.
Water Meter Market – Latest Developments:
Xylem Inc. (Sensus), Honeywell Inc., Diehl Stiftung& Co. KG, Badger Meter Inc, Arad Group, Roper Industries, Itron, Kamstrup Water Metering, Mueller Water Products, Zenner International GmbH & Co KG are some of the key players holding the major share in the water meter market.
Sensus is a solely owned subsidiary of Xylem Inc., which offers advanced metering technologies to municipalities and utilities. Xylem Inc. is a water technology company and provides technology solutions to resolve the current water challenges. In June 2018, Sensus USA, Inc. announced to invest an amount of $4 million to expand its operations in Durham of North Carolina (N.C.). This expansion witness a strong business climate through the support from The North Carolina Department of Commerce and the Economic Development Partnership of N.C. (EDPNC). State’s Economic Investment Committee approved Job Development Investment Grant (JDIG) as a part of this expansion and also estimated it to grow the state economy $1.02 billion over the period of 12 years from the grant.
In November 2018, Diehl Stiftung& Co. KG expanded its presence in the global water meter market with new plant construction in Saudi Arabia. It involves the manufacturing of smart metering using German technology. This made Diehl Metering and Abunayyan Holding partnership stronger ever before. Nearly one million HYDRUS ultrasonic water meters are installed in 20 fixed networks in this region to enable the control of water networks. The increasing use of water meters by utilities as they are helpful in resolving environmental and technical challenges allied in the water system and provide accurate results.
Arda Group introduced the next generation of ultrasonic water meters namely Octave and Sonata. They are empowered with wireless operations and long life batteries. In addition to this these products are more compatible with advanced metering infrastructures and meter data management solutions.
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