Global Water Meter Market Size 2024, Forecast To 2033
11 Mar, 2024
The water meter market has shown strong growth, increasing from $5.27 billion in 2023 to $5.57 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.8% during the historic period. This growth is attributed to strong economic growth in emerging markets, the rising deployment of smart water meters, and supportive government initiatives. Looking ahead to 2028, the market is expected to experience strong growth, reaching $7.16 billion at a CAGR of 6.5%. The projected growth is linked to rising urbanization, increasing water usage, growing demand for the replacement of old water meters, and the rise in the global population. Key trends in the forecast period include a focus on launching ultrasonic smart water meters, partnerships and collaborations, the installation of wireless water meters, investment in 5G water meters, and mergers and acquisitions to improve financial strength and product portfolios.
Global Water Meter Market Key Driver
The water meter market is poised for growth due to the escalating global water consumption. The surge in population contributes to an increase in water consumption, defined as the amount of water not returned to the source after usage. Water meters play a crucial role in managing water consumption by charging users based on the volume of water used and facilitating the detection of pipe leakages, reducing water wastage. A report from the Nature Partner journal indicates a projected increase of 20-30% in global water demand by 2050. This heightened water consumption is expected to drive the growth of the water meters market, with market size values for 2023, 2024, and 2028 integral to comprehending this growth outlook.
Get A Free Sample Of The Global Water Meter Market ReportGlobal Water Meter Market Segments
The water meter market covered in this report is segmented –
1) By Product Type: Mechanical Water Meter, Smart Water Meter
2) By Application: Residential, Commercial, Industrial
By Geography:The regions covered in the water meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the water meter market in 2023. The regions covered in the water meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Water Meter Industry Players
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, Aerzener Maschinenfabrik, Fecosan S. QED Environmental Systems, 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, Munters, Esli Water Treatment Company, Water Utility Solutions, Deelin Projects, Precision Meters (Pty) Ltd, Willz Plumbing, JCP Plumbing, Indecx Instrumentation, Flotron, Free Rain, Dayliff water meter, Maji Milele, Danco
Get The Full Global Water Meter Market Report
Water Meter Market Overview
A water meter is a device that provides a measurement of water flowing through a pipe system or other outlet. Water meters are placed in a box, which is fitted underground or over the ground on public land. They generally feature automated meter reading technology.
Water Meter Global Market Report 2023 provides data on the global water meter market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The water meter market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.