What Has Been the Growth of the Water Meter Market So Far?
The water meter market has seen considerable growth due to a variety of factors.
• The size of the water meter market has seen substantial expansion in the past few years. Its growth is projected to continue, rising from $5.48 billion in 2024 to $5.75 billion in 2025 with a compound annual growth rate (CAGR) of 5.0%.
Factors contributing to this hike in the previous period include robust economic development in burgeoning markets, an increase in the usage of smart water meters, and favorable government policies.
What are the Forecasted Growth and Key Factors of the Water Meter Market?
The water meter market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions suggest a robust expansion of the water meter market in the coming years, with a projected increase to $7.49 billion by 2029. This evaluates to a compound annual growth rate (CAGR) of 6.8%.
The surge during this prediction period is likely due to escalating urbanization, amplified water consumption, a growing necessity for replacing outdated water meters, and an increase in global population. Furthermore, the period will likely witness an emphasis on the introduction of ultrasonic smart water meters, the establishment of partnerships and collaborations, the installation of wireless water meters, investments in 5g water meters, and strategic mergers and acquisitions for enhancing financial status and product range.
What Are the Critical Driver Fuelling the Water Meter Market's Growth?
The surge in water usage is anticipated to fuel the expansion of the water meter market in the coming years. The rising population necessitates an increased water intake, which is only intensifying by the day. Water use is measured by the volume that is not returned to its original source after consumption. The water meter plays an influential role in water use as it levies charges on the user according to the amount used, plus it enables easy detection of water leakages, leading to less squandering of water. For example, in August 2023, the World Resources Institute, a non-profit organization based in the US, predicted that by 2050, water demand in Sub-Saharan Africa is going to rocket by 163% - a fourfold increase compared to Latin America, the region with the second highest increase, where the anticipation is a 43% growth in water demand. Hence, the rising water consumption will be a strong driver for the expansion of the water meter market.
How Is the Water Meter Market segmented?
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
Subsegments:
1) By Mechanical Water Meter: Woltman Water Meter, Single-Jet Water Meter, Multi-Jet Water Meter, Nutating Disc Water Meter
2) By Smart Water Meter: AMR (Automatic Meter Reading) Water Meter, AMI (Advanced Metering Infrastructure) Water Meter, Smart Ultrasonic Water Meter
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What New Trends Are Influencing the Water Meter Market?
Key players in the water meter market, such as smart water meter manufacturers, are concentrating on the creation of technologically innovative solutions to improve water management efficiency, curb water waste, and encourage sustainable use of resources. Smart water meters are sophisticated digital devices that precisely track and document water consumption in real time. For example, in November 2022, Landis+Gyr, a Swiss company that offers energy management solutions, unveiled its smart water meter at the Enlit Europe event. This latest product is part of their strategy to diversify into water management solutions from energy solutions. It comes with sophisticated IoT and grid-edge intelligence features, that aid water utilities in monitoring consumption, spotting leaks, and promoting water usage efficiency. Furthermore, Landis+Gyr displayed its newest developments in grid-edge and Electric Vehicle (EV) charging solutions, demonstrating their dedication to supplying comprehensive energy and water management systems for contemporary utility infrastructure.
Who Are the Key Players in the Water Meter Market?
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
What Is The Most Dominant Region In The Water Meter Market?
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.
