The Business Research Company’s report on the Water Meter Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the water meter market?
The increasing water consumption is expected to propel the growth of the water meter market in the forecast period. With the rise in population, water consumption is increasing day by day. Water consumption is defined as the amount of water that is not returned to the source after usage. Water meter affects the consumption of water as it charges the user as per the volume of water used and also provides easier detection of leakage in the water pipe which helps in less wastage of water. For instance, in August 2023, according to the World Resources Institute, a US-based Non-profit organization, by 2050, water demand in Sub-Saharan Africa is projected to surge by 163%—four times the rate of increase in Latin America, the second-highest region, where water demand is expected to rise by 43%. Therefore, increasing water consumption will drive the growth of the water meters market.
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How has the water meter market size evolved, and what are the latest forecasts for its expansion?
The water meter market size has grown strongly in recent years. It will grow from $5.48 billion in 2024 to $5.75 billion in 2025 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rising deployment of smart water meters, and supportive government initiatives.
The water meter market size is expected to see strong growth in the next few years. It will grow to $7.49 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising urbanization, increasing water usage, growing demand for replacement of old water meters, and rise in global population. Major trends in the forecast period include focus on launching ultrasonic smart water meters, partnerships and collaborations, installing wireless water meters, investing in 5g water meters, and mergers and acquisitions to improve their financial strength and product portfolio.
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Which major companies dominate the water meter market?
Major companies operating in the water meter market include Badger Meter Inc, Ningbo Water Meter Co Ltd, Roper Technologies Inc, Aichi Tokei Denki Co, Xylem Inc, Itron Inc, Diehl Stiftung & Co. KG, Mueller water products inc, Arad Group, Azbil Kimmon Co Ltd, Diehl Metering, Peltek, Apator, Schneider Electric, Siemens, Honeywell Elster, Aclara Technologies, Landis+Gyr, Sensus, Kamstrup, Jiangxi Sanchuan, Chongqing Smart Water Meter Group Co. Ltd, Hebei Yuanjiang Meters Co. Ltd, Ressam Hardware International Limited, Ningbo LongKang Intelligent Instrument Co. Ltd, Kaifeng flowmeter Instrument Co. Ltd, Tangshan Huizhong Instrumentation Co. Ltd, Hangzhou Powerkey Industries And Trade Co. Ltd, Landustrie Sneek BV, Royal Eijkelkamp, Delta-T Devices Ltd, iSAtech Wate, ZENNER International GmbH & Co, Sontex SA, B Meters Metering Solutions, Neptune Technology Group Inc, Agua y Saneamientos Argentinos, Star Measure, Accell Solutions – Unidade Americana, Bin Moosa & Daly Limited, Kamstrup Middle East FZC, DMC International, Alderley FZE, Halawa Tax Meter, Newterra Ltd, Spire Metering Technology, Idrica, Water Utility Solutions, Deelin Projects, Precision Meters (Pty) Ltd, Indecx Instrumentation, Flotron, Free Rain, Dayliff water meter, Danco
What trends will shape the future of the water heaters market?
Major companies operating in the water meter market are focusing on developing technologically innovative solutions, such as smart water meters, to enhance water management efficiency, reduce water wastage, and support sustainable resource use. A smart water meter refers to an advanced digital device that accurately measures and records water usage in real time. For instance, in November 2022, Landis+Gyr, a Switzerland-based provider of energy management solutions, announced the launch of its smart water meter at the Enlit Europe event. This new smart meter is part of their effort to expand beyond energy into water management solutions. It features advanced IoT capabilities and grid-edge intelligence, allowing water utilities to monitor consumption, detect leaks, and improve water conservation. Additionally, Landis+Gyr showcased their latest innovations in grid-edge and electric vehicle (EV) charging solutions, reinforcing their commitment to providing integrated energy and water management systems for the modern utility infrastructure.
Which region dominates the water meter market, and what factors contribute to its leadership?
Asia-Pacific was the largest region in the water meter market in 2024. The regions covered in the water meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the water meter market segmented, and which segment holds the largest share?
The water meter market covered in this report is segmented –
1) By Product Type: Mechanical Water Meter, Smart Water Meter
2) By Application: Residential, Commercial, Industrial
Subsegments:
1) By Mechanical Water Meter: Woltman Water Meter, Single-Jet Water Meter, Multi-Jet Water Meter, Nutating Disc Water Meter
2) By Smart Water Meter: AMR (Automatic Meter Reading) Water Meter, AMI (Advanced Metering Infrastructure) Water Meter, Smart Ultrasonic Water Meter
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How is the water meter market defined?
A water meter is a device that provides a measurement of water flowing through a pipe system or other outlet. Water meters are placed in a box, which is fitted underground or over the ground on public land. They generally feature automated meter reading technology.
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