Venturi Tubes Market Expected to Reach $1.6 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Venturi Tubes Market," The venturi tubes market was valued at $716.70 million in 2020, and is estimated to reach $1.6 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032. 

A venturi tube consists of a gradual constriction in a pipe, usually in the form of a tapered section. As the fluid flows through this tapered section, its velocity increases while the pressure decreases. The change in pressure helps in identifying the flow rate as per the Bernoulli's principle .

Major companies in the venturi tubes industry are implementing strategic moves such as acquisition, collaboration, and partnerships to expand and strengthen their position in venturi tubes market. For instance, in June 2020, a strategic partnership between Kamstrup and The Avance Metering in smart and reliable technology solutions for utilities was announced. Mutual clientele will benefit from the collaboration as they put important data from Kamstrup metering solutions to work. Customers may enrich their data for strategic goals, such as facilitating a smooth transfer from old to new intelligent metering generations, owing to strategic product fit between the two organizations.

Rise in global urbanization and increase in population has led to rise in demand for food & beverage products such as meat, sugar, and dairy. Processing of products such as sugar, dairy, and meat requires a large amount of water. Furthermore, increase in demand for food products also boosts the agricultural sector, which is another water intensive industry. Rise in purchasing power of people has also increased demand for products such as paper, clothes, fuel, and electricity. According to the U.S. Department of Energy, 1.5 barrels of water is required to refine 1 barrel of crude oil in a typical refinery. Paper, paint, and breweries are examples of some more water intensive industries. Vast use of water in various industries creates a demand for venturi tubes to record usage of water. Venturi tubes also help government authorities to charge industries according to their use of water. Hence, growth of industries has positively influenced the venturi tubes market growth.

In recent years, popularity of smart venturi tubes has significantly increased. Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI) are two major technologies used in venturi tubes. AMR enables remote data transmission and AMI has the capability to transfer data to collection and management centers through communication networks. Such venturi tubes reduce the requirement for manual water reading, thereby lowering operating costs of the utility.  Furthermore, electronic, and ultrasonic venturi tubes significantly increase the accuracy of venturi tubes readings. Many players in the industry are focusing on adoption of smart venturi tubes. For instance, SA Water, which is an entity owned by the Government of South Australia that has significantly increased the use of smart venturi tubes. Furthermore, advancements in Machine to Machine (M2M) communication is expected to boost the use of smart venturi tubes. Thus, rise in accuracy and reduction in operating cost provided by smart meters is anticipated to provide significant growth opportunities for growth of the venturi tubes market in the coming years.

Several new and advanced sensors venturi tubes are being utilized to detect toxic gases, which are used in water treatment and other such applications. In addition, key players are expanding their product portfolio by acquiring other companies to increase manufacturing of such advanced venturi tubes. For instance, in January 2021, Analytical Technology, Inc. having significant venturi tubes market share was acquired by Badger Meter, Inc. ATi specializes in design, production, and sales of electrochemical and optical sensors-based water quality equipment. Its method is also utilized to identify harmful gases used in water treatment and other applications, in addition to water quality metrics.

However, accordin due to current recession and past major impact of COVID-19 in several countries, there is a disruption in manufacturing and production activities. This disruption has a direct impact on sales of venturi tubes. However, it is expected that reopening of production facilities and introduction of coronavirus vaccines will lead to reopening of venturi tubes firms. In addition, water is an essential commodity for domestic as well as many industrial users. Large number of end users is the major reason for development of an extensive water supply network. Installation of venturi tubes in such large water supply networks require high initial cost. Furthermore, water supply networks consist of a large number of underground components and installation of venturi tubes also require alterations to the existing components of water supply networks. These factors further increase the total cost of venturi tubes. Furthermore, maintenance and replacement cost of venturi tubes is also a restraint for growth of the venturi tubes market in developing countries. Thus, high cost associated with installation of venturi tubes is a major restraint for growth of market and affects expansion of venturi tubes market size.

The venturi tubes market has observed significant growth in the past few years, owing to rise in water demand and need for efficient water management. In addition, increase in global population has significantly increased demand of water for domestic as well as industrial use. Similarly, commercial organizations are monitoring water usage and water quality. Hence such factors are expected to provide lucrative growth during the venturi tubes market forecast period.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging venturi tubes market trends and dynamics.
• In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2032.
• Extensive analysis of the venturi tubes market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
• The venturi tubes market analysis from 2020 to 2032 is included in the report.
• The key market players within  venturi tubes market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the  venturi tubes industry.