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Global Water Meter Market: Urgent Need to Conserve Water Urges Consumers to Measure its Usage

Global Water Meter Market: Snapshot

Water utilities have shown keen interest in adopting water meters as these devices have evolved over the years to help consumers and service providers to understand the amount of water consumption. The accuracy of this equipment has simplified billing methods and allowed utilities to analyze water consumption and its wastage. Over the years, several types of water meters have gained a market share in the global market owing to their importance in conserving water, energy, and reducing the expenditure on water bills. Citing these reasons, the research report states that the global water meter market will be worth US$5.2 bn by the end of 2024 as compared to US$3.5 bn in 2015. The market promises to expand at a CAGR of 4.5% between 2016 and 2024.

The obvious fact about depleting water resources have raised concerns about measures to reduce water consumption and wastage across the globe. Governments are thus taking initiatives for the same through raising awareness and installing water meters to analyze the required amount of water for various purposes, its wastage if any, and methods of preserve it. Several consumers across the globe are also opting for water meters as they help in optimizing the bill, thereby saving energy and resources. The seamless integration of advanced technologies has led to the introduction of smart water meters, which has increased the uptake of these products over the past few years.

 
Global Water Meter Market: Segmentation

The report segments the global water meter market on the basis of type into rotary piston, single jet, multi jet, woltman, combination, electromagnetic and ultrasonic. By application, the market has been classified into residential, commercial and industrial segments. Thus, the report provides in-depth cross-segment analysis of the water meter market and classifies it into various levels, thereby providing valuable insights at the macro as well as micro levels.

The report also highlights the competitive landscape of the water meter market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive water meter market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the water meter market’s growth.

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Asia Pacific Remains on Top with Ongoing Infrastructural Changes

In terms of geography, the global water meter market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of these, Asia Pacific is expected to lead the global market throughout 2016 and 2024. The improving infrastructure in the region and a strong presence of several water meter manufacturers are expected to keep Asia Pacific regional market at the forefront.

The research report points out that the important players operating in the global water meter market are  Diehl Stiftung & Co. KG, Azbil Kimmon Co., Ltd., Badger Meter, Inc., Elster Group GmbH, Neptune Technology Group Inc., G. Gioanola S.R.L., Aichi Tokei Denki Co., Ltd, Apator SA, Arad Group, Fedrel Meter, B Meter, Itron Inc., Master Meter, Inc., Maddalena Spa, Kamstrup A/S, Sensus (Xylem Inc.), ZENNER International GmbH & Co. KG, Mueller Systems, LLC., Plata Meter Co., Ltd, NINGBO WATER METER CO.,LTD. and Jiaxing Eastron Electronic Instruments Co., Ltd. The competitive landscape in the global water meter market is quite fragmented due to presence of several players. The lack of product differentiation has further intensified the competition. To gain an edge, players are expected to focus on the integration of advanced technologies in their upcoming products, states the exhaustive report.
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