Water Meter Market Trends, Outlook, Demand, Insights, Overview: 2024-2033

Global water meter market size is expected to reach $7.16 Bn by 2028 at a rate of 6.5%, segmented as by product type, mechanical water meter, smart water meter

Jul 12, 2024 - 12:19

Water Meter Market Trends, Outlook, Demand, Insights, Overview: 2024-2033

Overview and Scope

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.

Sizing and Forecast

The water meter market size has grown strongly in recent years. It will grow from $5.27 billion in 2023 to $5.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rising deployment of smart water meters, and supportive government initiatives. .

The water meter market size is expected to see strong growth in the next few years. It will grow to $7.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising urbanization, increasing water usage, growing demand for replacement of old water meters, and rise in global population. Major trends in the forecast period include focus on launching ultrasonic smart water meters, partnerships and collaborations, installing wireless water meters, investing in 5g water meters, and mergers and acquisitions to improve their financial strength and product portfolio..

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Segmentation & Regional Insights

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

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.

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Major Driver Impacting Market Growth

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. According to the Nature Partner journal, the global water demand is expected to increase to 20-30% more by the year 2050, which means that people are consuming groundwater without even knowing when it will run out. Therefore, increasing water consumption will drive the growth of the water meters market.

Key Industry Players

Major companies operating in the water meter market report are 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

The water meter market report table of contents includes: