The Worldwide Water Meter Industry is Expected to Reach $25+ Billion by 2027
DUBLIN, Jan. 7, 2022 /PRNewswire/ -- The "Global Water Meter Market By Product (Standard Water Meter and Smart Water Meter), By Distribution Channel (Offline and Online), By End User (Residential, Commercial, and Industrial), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Water Meter Market size is expected to reach $25,368.6 million by 2027, rising at a market growth of 4.2% CAGR during the forecast period.
A device that helps to monitor the volume and amount of water utilized in numerous commercial, residential, and industrial environments is called water meter. In addition, smart metering solutions refer to the new and expanded version of conventional meters, which utilize meters or modules with communication capabilities integrated into or connected to the meter.
The water meter works when water flows into a building, it enters via water lateral and afterward flows through the meter. This flow of water that enters the building is then calculated by the water meter. The flowing water passes through the meter rotates a built-in device. Every complete spin of this device calculates a certain amount of water; wherein the amount is immediately shown on the display panel of the water meter in cubic meters. Thus, when water flows via the water meter, manually rotating the device is the only way to calculate the amount of water.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted different aspects of the business world. Owing to the imposed lockdown across different nations, the COVID-19 pandemic has impeded the production of several items of the water meter market. Companies operating in the water meter market can suffer a complete lockdown only to a limited extent, and afterward, they are expected to modify their investment plans.
Along with that, companies are now majorly investing in creating a better and safer work environment to avoid the situation of the low workforce and hence, low production. Many governments are also putting more effort to stabilizing the economic condition and supporting companies in uplifting their businesses, which is expected to support the market players and further fuel the growth of the market.
Market Growth Factors:
Increasing initiative to promote sustainable use of water
There are several initiatives taken by organizations and government authorities to encourage people to save water and promote sustainable usage of water. As many countries are facing problems regarding the supply and demand for water, governments are promoting the efficient usage of water to cut down the excess demand for water. The growing population across the world has surged energy demand, and thus, new industries & workplaces have emerged.
Accurate billing process with more economic benefits
Since water meters help in recording the accurate record of the consumed water in a facility, it provides more accuracy for the billing authorities to look at the water records and generate a correct bill for the customers. The availability of smart water meters provides an efficient solution for water usage in a residential or commercial building, which is also feasible for water utilities and the customers. As a result, these smart meters are witnessing more demand from both residential and commercial sectors.
Marketing Restraining Factor:
Absence of proper knowledge regarding the benefits of the water meter
Water meters offer many benefits; however, the dearth of awareness among end-users is expected to restrict its demand in the market. In addition, a major part of the global population is still unaware of the presence of such devices that can help in reducing water wastage and offer precise billing for their consumed water. At present, there is a restricted growth of water meters across various developed and developing regions owing to the lack of awareness.
Product Type Outlook
On the basis of product type, the water meter market is classified into Standard Water Meter and Smart Water Meter. Among these, the standard water meter acquired the highest revenue share in the market in 2020. Standard water meters are conventional meters that measure the volume of water passed through it.
Distribution Channel Outlook
Based on the distribution channel, the water meter market is bifurcated into online and offline channels. In 2020, the offline segment dominated the water meter market with the largest revenue share. Offline distribution channels include conventional brick and mortar shops like retail stores, specialty stores and others. There are many end-users who prefer offline channels as they offer them firsthand experience and demo of their required products.
Regional Outlook
Region-wise, the water meter market is analyzed across North America, Europe, Asia Pacific, and LAMEA. Among these regions, the Europe is anticipated to witness the highest CAGR over the forecast period.
Cardinal Matrix - Water Meter Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Honeywell International, Inc. is the forerunner in the Water Meter Market. Companies such as Neptune Technology Group Inc., Badger Meter, Inc., Apator SA are some of the key innovators in Water Meter Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Diehl Stiftung & Co. KG, Azbil Corporation, Badger Meter, Inc., Honeywell International, Inc. (Elster Group GmbH), Neptune Technology Group Inc. (Roper Technologies, Inc.), G. GIOANOLA Srl, Aichi Tokei Denki Co., Ltd., Apator SA, Arad Group, and Itron Inc.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, Jun - 2021, Jun) Leading Players
Chapter 4. Global Water Meter Market by Product Type
4.1 Global Standard Water Meter Water Meter Market by Region
4.2 Global Smart Water Meter Water Meter Market by Region
Chapter 5. Global Water Meter Market by Distribution Channel
5.1 Global Offline Water Meter Market by Region
5.2 Global Online Water Meter Market by Region
Chapter 6. Global Water Meter Market by End User
6.1 Global Residential Water Meter Market by Region
6.2 Global Commercial Water Meter Market by Region
6.3 Global Industrial Water Meter Market by Region
Chapter 7. Global Water Meter Market by Region
Chapter 8. Company Profiles
8.1 Neptune Technology Group, Inc. (Roper Technologies)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.2 Itron, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Agreements and Collaborations:
8.2.5.2 Product Launches and Product Expansions:
8.3 Apator S.A.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.4 Diehl Stiftung & Co. KG
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Research & Development Expense
8.4.4 Recent strategies and developments:
8.5 Badger Meter, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Acquisition and Mergers:
8.5.5.2 Product Launches and Product Expansions:
8.6 Arad Group
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.7 Azbil Corporation
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expense
8.8 Honeywell International, Inc. (Elster Group GmbH)
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional & Segmental Analysis
8.8.4 Research & Development Expenses
8.8.5 Recent strategies and developments:
8.8.5.1 Partnerships, Collaborations, and Agreements:
8.8.6 SWOT Analysis
8.9 G. GIOANOLA Srl
8.9.1 Company Overview
8.1 Aichi Tokei Denki Co., Ltd.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Product Launches and Product Expansions:
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