Growing Awareness about Depleting Water Sources Promotes Use of Water Meters Worldwide: TMR

ALBANY, N.Y., Oct. 12, 2020 /PRNewswire/ -- In recent years, there is growing inclination among water utilities toward the use of water meters. Key reason behind growing popularity of water meters is their ability to offer a wide range ofadvantages.Water meters help service providers as well as consumers know the amount of water consumed. The ability of these devices to offer precise readings makes the billing techniques easy. At the same time, these devices help in analyzing water wastage and water consumption.

Analysts at TMR highlight that due to all abovementioned advantages, the global water meter market is foreseen to expand at 4.7% CAGR during the forecast period of 2019 to 2027. This aside, growing focus of market players to incorporate advanced technologies in their productsis likely to further fuel market growth.

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Key Findings of Water Meter Market Report

• The global water meter market is foreseen to grow at 4.7% CAGR during 2019–2027.
• The market is estimated to gather the valuation of approximatelyUS$6.1 Bn by 2027 end.
• The total valuation of water meter market was around US$4.0 Bn in 2018.
• Of the various applications, the residential segment accounted for major share of market in 2018.
• The abovementioned segment is estimated to maintain its leading water meter market position during assessment period.
• On regional front, Asia Pacific is projected to offer lucrative avenues for market growth during assessment period.
• The water meter market experiences a fragmented nature of competitive landscape.

Explore 187 pages of top-notch research, incisive insights, and detailed country-level projections on Water Meter Market (Type - Rotary Piston, Single Jet, Multi Jet, Woltman, Combination, Electromagnetic, and Ultrasonic; Application - Residential, Commercial, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/water-meter-market.html

Water Meter Market: Key Driving Factors and Promising Avenues

• In recent years, major government bodies are focused on dealing with the burning issue of depleting water resources across the globe. As a result, they are growing awareness about the importance of using water vigilantly and reducing water wastage. Similarly, they are encouraging for the installation of water meters to keep the tap on water consumption and wastage. This factor is generating tremendous sales opportunities in the global water meter market.
• Many consumers in all worldwide locations are inclined toward the use of water meters due to ability of these devices to assist in analyzing water bills. This step is helping consumers in achieving reduced use of resources and energy. Thus, the manufacturers in the water meter market are gathering prominent demand avenues from all across the globe.

Analyze global water meter market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Water Meter Market: Competitive Assessment

• With presence of considerable number of active players, the competition in the global water meter market is moderately intense.
• Industry leaders are using various strategies to maintain their key position in the market for water meter. One of the important strategies utilized by market vendors is to incorporate advanced technologies in their products.
• Several players are concentrating on the launch of smart water meters. This strategy is helping players boost their sales number.
• This aside, several enterprises in the global water meter market are strengthening their production capabilities. To achieve this aim, they are launching new production facilities. In addition to this, the increased number of mergers, collaborations, partnerships, and regional expansions depict that the global water meter market will develop at rapid pace during 2019 to 2017.
• The list of important companies working in the water meter market includes Azbil Kimmon Co., Ltd., Diehl Stiftung& Co. KG, Elster Group GmbH, Badger Meter, Inc., G. Gioanola S.R.L., Neptune Technology Group Inc., Apator SA, Aichi Tokei Denki Co., Ltd, Fedrel Meter, Arad Group, Itron Inc., and B Meter.

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The water meter market can be segmented as follows:

Global Water Meter Market, by Type

• Rotary Piston
• Conventional
• Smart
• Single Jet
• Conventional
• Smart
• Multi Jet
• Conventional
• Smart
• Woltman
• Conventional
• Smart
• Combination
• Conventional
• Smart
• Electromagnetic
• Conventional
• Smart
• Ultrasonic
• Conventional
• Smart

Global Water Meter Market, by Application

• Residential
• Commercial
• Industrial

Global Water Meter Market, by Region

• North America
• U.S.
• Canada
• Rest of North America
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Indonesia
• Rest of Asia Pacific
• Middle East and Africa (MEA)
• U.A.E.
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America

Explore Transparency Market Research's award-winning coverage of the Global Electronics & Semiconductors Industry:

Smart Water Meter Market – The global smart water meter market is expected to reach 81.52 million units, in terms of volume, by 2026. The market is projected to expand at a CAGR of 13.42% from 2018 to 2026. According to the report, the global market is expected to continue to be influenced by a range of factors in the near future, such as rising penetration of smart water meters, growing popularity of IoT networks, rising development of the smart city infrastructure, and increasing water scarcity issues across the globe.

Magnetometer Market – the global magnetometer market is estimated to expand at a CAGR of ~ 6% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in its report on the global magnetometer market.

A magnetometer is a device used to measure the direction and strength of the magnetic field at a particular location. Magnetometers are employed across several sectors such as energy, healthcare, aerospace & defense, consumer electronics, surveys, and industrial.

Mass Spectrometer Market – Growth in the pharmaceutical and life science markets, rise in demand for clinical analysis, increase in mergers and acquisitions, and increase in food and beverage testing has increased the penetration and growth of the mass spectrometer market globally. The market in North America is expanding at a significant CAGR of more than 8% on the backdrop of numerous technological innovations in advanced laboratory equipment.

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