DUBLIN–(BUSINESS WIRE)–The “Water Meter Global Market Report 2021: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com’s offering.
The global water meter market is expected to grow from $4.22 billion in 2020 to $4.65 billion in 2021 at a compound annual growth rate (CAGR) of 10.2%. The market is expected to reach $5.53 billion in 2025 at a CAGR of 4.4%.
The growth is mainly due to the increase in water consumption, growing need for water management, global industrial development, supportive government regulations, need for improvement in water utility usage and efficiency, and increasing demand to reduce non-revenue water losses.
Major players in the water meter market are Aclara Technologies LLC, Badger Meter Inc, Diehl Stiftung GmbH & Co. KG, Honeywell International Inc., Itron Inc., Kamstrup AS, Landis+Gyr Corporation, Zenner International GmbH & Co. KG, Arad Group, BMETER, Datamatics Global Services Limited, Elster Group GmbH, Maddalena Spa, Mueller Water Products, Roper Industries, Sanchuan Wisdom Technology Co. Ltd., Neptune Technology Group, and Aquiba Pty Ltd.
The water meter market consists of sales of water meters by entities (organizations, sole traders, and partnerships) that manufacture water meters. 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.
The main types of water meters are mechanical water meters and smart water meters. A mechanical water meter performs flow measurement by measuring the speed of water flowing through the pipe that causes a piston or turbine to rotate. This device records the amount of water being used in the domestic connection for billing purposes. Smart water meter wirelessly communicates with a wide area network, enabling remote location monitoring and leak detection, which results in minimal water wastage. Water meters are applied to residential, commercial, and industrial.
The launch of IoT-enable water meters by the companies is a key trend gaining popularity in the water meter market. The Internet of Things (IoT) is a system of interrelated objects which are connected via the internet and collect and transfer the data over a wireless network without the need of another human. IoT-enabled water meter allows the user to know the exact of water used and creates two-way communication between the provider and the user to share information. It also helps in saving and reducing energy, forecasting the water demand, and identifying leaks.
The increasing water consumption is expected to propel the growth of the water meter market in the forecast period. With the rise in population water consumption is increasing day-by-day. Water consumption is defined as the amount of water that is not returned to the source after usage. Water meter affects the consumption of water as it charges the user as per the volume of water used and also provides easier detection of leakage in the water pipe which helps in less wastage of water. Therefore, increasing water consumption will drive the growth of water meters market.
Key Topics Covered:
1. Executive Summary
2. Water Meter Market Characteristics
3. Water Meter Market Trends and Strategies
4. Impact Of COVID-19 On Water Meter
5. Water Meter Market Size and Growth
5.1. Global Water Meter Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Water Meter Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Water Meter Market Segmentation
6.1. Global Water Meter Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Mechanical Water Meter Smart Water Meter 6.2. Global Water Meter Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Residential Commercial Industrial 7. Water Meter Market Regional and Country Analysis
7.1. Global Water Meter Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Water Meter Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
Aclara Technologies LLC Badger Meter Inc. Diehl Stiftung GmbH & Co. KG Honeywell International Inc. Itron Inc. Kamstrup AS Landis+Gyr Corporation Zenner International GmbH & Co. KG Arad Group BMETER Datamatics Global Services Limited Elster Group GmbH Maddalena Spa Mueller Water Products Roper Industries Sanchuan Wisdom Technology Co. Ltd. Neptune Technology Group Aquiba Pty Ltd For more information about this report visit https://www.researchandmarkets.com/r/2i5db0