Water Meter Market Expected to Reach $29,159.4 Million by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Water Meter Market By Product Type, Distribution Channel, and End User: global opportunity analysis and industry forecast, 2021–2030,” The global water meter market size was valued at $19,700.0 million in 2020, and is projected to reach $29,159.4 million by 2030, registering a CAGR of 4.1% from 2021 to 2030.

Water meters are devices that track volume and usage of water used in various household, commercial, and industrial settings. Smart metering solutions, on the other hand, are expansions of traditional meters that use meters or modules with communication capabilities (either one-way or two-way) built in or connected to the meter.

Major companies in the water meter market are implementing strategic moves such as acquisition, collaboration, and partnerships to expand and strengthen their position in water meter 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.

Several new and advanced sensors water meters 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 water meters. For instance, in January 2021, Analytical Technology, Inc. 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, owing to lockdowns imposed in countries such as China, the U.S., and India, owing to coronavirus issue, numerous manufacturers in the global water meter market had to halt their business production. This disruption has a direct impact on sales of water meters. However, it is expected that reopening of production facilities and introduction of coronavirus vaccines will lead to reopening of water meter firms.

Key companies profiled in the Water meter market report include Apator SA, Arad Group, Badger Meter, Inc., Elster Group GmbH, Gioanola S.R.L., Kamstrup A/S, Maddalena Spa, Master Meter, Inc., Mueller Systems, LLC., and Sensus (Xylem Inc.).

 Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging water meter market trends and dynamics. 
• Depending on product type, the standard water meter has dominated the water meter market, in terms of revenue in 2020.
• By distribution channel type, the offline segment has registered highest revenue in 2020.
• The Asia-Pacific region is projected to register highest growth rate in the coming years.
• The key players within the water meter market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the water meter industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the water meter market. 
• In-depth water meter market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.