Water Meter Market – Global Industry Analysis, Key Trends, and Forecast (2023-2029)

Water Meter Market size was valued at US$ 20.96 Bn. in 2022 and the total revenue is expected to grow at 4.20 % through 2023 to 2029, reaching nearly US$ 27.96 Bn.
Water Meter Market Overview:
A water meter is a device that measures the flow of water through a pipe system or another outlet. On public land, water meters are installed in a box that is installed underground or above ground. They usually have meter reading technology that is automated. Water utilities have expressed a strong desire to implement water meters, which have evolved over time to assist consumers and service providers in understanding the amount of water consumed. Because of the accuracy of this equipment, billing processes have been simplified, and utilities have been able to assess water consumption and waste. Several types of water meters have gained market share in the global market over the years as a result of their relevance in conserving water, energy, and lowering water bill expenditures.To know about the Research Methodology :- Request Free Sample Report
Water Meter Market Dynamics:
Due to increased water demand, the water meter market is expected to rise at a quick rate over the forecast period. The need for water grows in tandem with the world's population. The amount of water utilized that is not recycled to the source is referred to as water absorption. Water meters influence water use since they charge customers dependent on how often water they utilize. They also make finding leaks in water pipelines easier, resulting in less wasted water. As per the Nature partner publication, by 2050, worldwide water consumption is anticipated to increase by 20-30%, implying that people are exploiting groundwater despite realizing when it would run out. As a result, rising water usage will propel the market for water meters forward.

Companies are launching IoT-enabled water meters, which is a crucial trend that is gaining traction in the water meter industry. The Internet of Things (IoT) is a network of interconnected things that communicate via the internet and gather and transmit data over a wireless network without the intervention of a human. IoT-enabled water meter lets the customer know the exact amount of water consumed and creates two-way communication between the provider and the consumer to access data.

It also assists in saving and decreasing energy, anticipating the water demand, and locating leaks. Exozen and WAVIoT, for example, are start-ups that deploy IoT-based smart water meters. WEGoT, an Indian smart water Metre Company, and Kerlink, a French IoT solution provider, announced cooperation in June 2022 to introduce a LoRaWAN-based water meter in India. This water meter will assist utility companies in collecting data more efficiently and streamlining processes to reduce expenses. Through a variety of APIs, the device inputs can be integrated with third-party billing and ERP systems. The technology ensures that every drop of water consumed is accounted for; allowing utility providers to better serve their customers and improve the quality of their services.

Badger Meter Inc., a US-based maker of metering equipment that uses flow data acquisition and control technology, paid $44 million in January 2022 to buy Analytical Technology Inc. Badger Meter Inc. will be able to provide industrial users and municipal water utilities with a powerful, extensive, and adaptable water quality monitoring solution as a result of the acquisition. Analytical Technology Inc. is a firm established in the United States that specializes in the development and sale of electrochemical and optical detectors for water quality monitoring.

However, as the industrial sector's need for wastewater disposal grows, companies will improve water meters, reducing the obstacles faced by suppliers.
Water Meter Market Segment Analysis:
The global Water Meter Market is segmented by Product Type, Component and Application.

Based on the Product Type, the global Water Meter market is sub-segmented into Mechanical Water Meter and Smart Water Meter. The Mechanical Water Meter segment held the largest market share of xx% in 2022. A mechanical water meter measures the speed at which water flows through a pipe, causing a piston or turbine to rotate. For billing purposes, this device keeps track of the amount of water utilised in the domestic hook-up. However, the smart water meter is expected to grow at the highest CAGR of 10.3% in the global water meter market during the forecast period. The wireless communication of a smart water meter with a wide area network allows for remote location monitoring and leak detection, resulting in reduced water waste. Water meters are used in a variety of settings, including residential, commercial, and industrial.

Based on the Applications, the global Water Meter market is sub-segmented into Residential, Commercial, and Industrial. The Residential segment led the Water Meter market with a market share of around xx% in 2022 and it is expected to grow at a higher CAGR of xx% in the global water meter market during the forecast period. As per multiple research, around 20% of multiple tenants use approximately 80% of the water; additionally, gallons of water are wasted due to leaks and wastage. Residential water metering has been shown to reduce water consumption by 20-40% in a number of developing nations. This is because apartment tenants are billed for their average usage, so they are more aware of their utilization.
Water Meter Market Regional Insights:
The Asia Pacific held the largest market share of xx% in 2022. The Asia Pacific regional market is likely to remain at the forefront due to growing infrastructure and a significant emergence of different water meter manufacturers. In Asia, the water meter market is still in its early stages, with a highly fragmented market. Water meter market giants from Japan and Europe have already started to capitalize on the Southeast Asian meter business, which is still mostly undeveloped. North America held the 2nd largest market share of xx% in 2022. The increase in the need for perfect water utilisation, appropriate water consumption due to water emergencies, and lower demand for non-revenue water is driving the growth of the Water Meter market in this area.

The objective of the report is to present a comprehensive analysis of the global Water Meter Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the global Water Meter Market dynamic, structure by analyzing the market segments and project the global Water Meter Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Water Meter Market make the report investor’s guide.
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Water Meter Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 20.96 Bn.


Forecast Period 2023 to 2029 CAGR:
4.20%
Market Size in 2029:
US $ 27.96 Bn.


 Segments Covered:
by Product Type
Mechanical Water Meter
Smart Water Meter


by Component
Meters and Accessories
Communication
IT Solutions


by Applications
Building & Construction
Residential
Commercial
Industrial



Water Meter Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Water Meter Market, Key Players are
1. Diehl Stiftung & Co. KG
2.Azbil Kimmon Co., Ltd.
3. Badger Meter, Inc.
4. Elster Group GmbH
5. Neptune Technology Group Inc.
6. G. Gioanola S.R.L.
7. Aichi Tokei Denki Co., Ltd
8. Apator SA
9. Arad Group
10. Fedrel Meter
11. B Meter
12. Itron Inc.
13. Master Meter, Inc.
14. Maddalena Spa
15. Kamstrup A/S
16. Sensus (Xylem Inc.)
17. ZENNER International GmbH & Co. KG
18. Mueller Systems, LLC.
19. Plata Meter Co., Ltd
20. NINGBO WATER METER CO.,LTD.
21. Jiaxing Eastron Electronic Instruments Co., Ltd.

Frequently Asked Questions:

1. Which region has the largest share in Global Water Meter Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Water Meter Market?
Ans: The Global Water Meter Market is growing at a CAGR of 4.2 % during forecasting period 2023-2029.

3. What is scope of the Global Water Meter market report?
Ans: Global Water Meter Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global market?
Ans: The important key players in the Global  Market are – Diehl Stiftung & Co. KG, Azbil Kimmon Co., Ltd., Badger Meter, Inc., Elster Group GmbH, Neptune Technology Group Inc., G. Gioanola S.R.L., Aichi Tokei Denki Co., Ltd, Apator SA, Arad Group, Fedrel Meter, B Meter, Itron Inc., Master Meter, Inc., Maddalena Spa, Kamstrup A/S, Sensus (Xylem Inc.), ZENNER International GmbH & Co. KG, Mueller Systems, LLC., Plata Meter Co., Ltd, NINGBO WATER METER CO.,LTD., Jiaxing Eastron Electronic Instruments Co., and Ltd.

5. What is the study period of this market?
Ans: The Global Market is studied from 2022 to 2029.