Water Meter Market - Forecast(2021 - 2026)
The water crisis has been a threat to the world since quite a few decades now. According to WHO and UNICEF, 2.1 billion people lack safe potable water at home, and 4.5 billion people lack safely managed sanitation. In order to alleviate this poignant situation, application of water meter has become imperative in the residential sector to keep track of the quality of water and its usage. Now, this is largely stroking the water meter market size, which already had swelled up to approximately $4 billion to $4.5 billion in 2018 as per the market outlook report by IndustryARC’s analyst. Furthermore, due to the continuously growing need of water metering, the water meter market growth is estimated to be an astonishing 10% to 15% in terms of CAGR during the forecast period of 2019 to 2025.
Water scarcity and drought had become a ubiquitous peril in many parts of Europe during the last decade. Moreover, according to the European Commission, the problem of water was a concert to as much as 500 million European in 2016. Now, this had led to a tectonic shift in the water supply system of the European regions which requires constant measurement of water flow and quality. This created a broad spectrum for water meter market in Europe which had a market share of 18% to 22% in 2018 according to IndustryARC’s market analyst.
Water Meter Market Outlook:
Water meters, generally owned and maintained by a city/rural water association or a private water company, are displacement meters used to measure the flow of water in gallons or cubit ft. in order to improve the water distribution system. Their application is mainly in the residential, commercial, and industrial sector.
“The constantly catapulting need for water management due to the necessity for providing potable water and better sanitizing facilities to the world’s population will be the key factor responsible for the rise in the demand for water meters in the residential sector”; highlights the market analyst in water meter market research report. The residential application CAGR is estimated to be a staggering 15% to 20% through to 2025.
Water Meter Market Growth Drivers:
- The Global Industrial Development –
The United Nations of Industrial Development Organization (UNIDO), the world is in need of industrial development for greater inclusivity and sustainability. Moreover, the UN’s Sustainable Development Goals (SDGs) program envisions to provide more affordable goods to the world’s population through industrial development[3]. This makes for a perpetually escalating production in the existing industries and emergence of new industries in the near future. Now, these industries will have a gamut of operations involving water which will aid to the water meter market growth.
- The Regulations Regarding Wastewater Management –
80% to 90% of wastewater generated in the developing countries is discharged into the surface water bodies without any treatment, according to The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). However, the implementation of stringent environmental laws pertaining to wastewater management is changing the situation. Moreover, wastewater management systems are at apace in developed countries of Europe and North America. Now, these wastewater management systems need water meter to measure the volumetric flow rate, quality, and discharge volume, which is leading to the water meter market growth.
- The Growing Demand in the Commercial Sector –
The commercial corporation and organization bodies are also monitoring the water usage and quality nowadays, and it has become a major water meter marketplace and revenue avenue.
Water Meter Market Challenges:
Even though the demand for water meters is at its pinnacle, vendors are facing challenges in convincing the utilities to incorporate their product, which is becoming a hindrance to their water meter market revenue. However, with the growing need for wastewater management in the industrial sector, utilities will require water meters which will subsequently reduce the challenges faced by vendors.
Water Meter Market Key Players Perspective:
The market leader in water meter market is Sensus (a Xylem brand) which is continuously innovating its strategies to provide advanced water metering technologies.
Honeywell Inc. which is another key player in the water meter market innovated their technology to provide 600,000 polymer-bodied water meters to Vitens in 2017.
Some other key players in the market are Diehl Stiftung & Co. KG, Badger Meter Inc, Arad Group, Roper Industries, Itron, Kamstrup Water Metering, Mueller Water Products, and Zenner.
Water Meter Market Trends:
- In 2016, there were 96 transactions of merger and acquisition involving Water Infrastructure companies.
- In June 2017, Xylem had acquired Sensus for $1.7 billion to position the company in the water meter market.
Water Meter Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the water meter market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of water meter market, and their specific applications in residential, commercial, and industrial sector.
Water Meter Market Report: Industry Coverage
The report analyses the product demands on the bases of type of product – mechanical and smart water meter. The water meter market can be further segmented on the basis of applications as mentioned above.
The water meter market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
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