8 February 2019: Water
Meter Market is estimated to grow at a CAGR of 6.4% over the
forecast period as the scope and its applications are rising enormously across
the globe. Water Meters are termed as devices that measure the amount of water
supplied. They measure the volume of water in cubic meters used by commercial
and residential buildings, which are supplied with water by a public water
supply system. It may be used at water source to regulate flow via a distinct
portion of the system. Velocity meters and positive displacement meters are the
major types of water system.
Government initiative for rising awareness among consumers
regarding advantage of installing water meters and analyzing the required
amount of water, saving energy and resources, and growing demand from customers
are documented as major factors estimated to enhance the growth in the years to
come. However, the presence of alternatives may restrain overall market growth
in the years to come. Water Meter Market is segmented based on type, application,
and region.
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Ultrasonic, rotary piston, electromagnetic, single jet,
combination, multi jet, and woltman are the types that could be explored in the
forecast period. The market may be categorized based on applications like
industrial, residential, commercial, and others. The residential sector
accounted for the significant market share of Water Meter and is estimated to
continue its dominance in the years to come. However, commercial and industrial
sector are estimated to grow at the fastest pace in the years to come.
Globally, Asia Pacific accounted for the substantial market
share of Water Meter and is estimated to lead the overall market in future. The
reason behind the overall market growth could be presence of key manufacturers
in the region and developing infrastructure in this region. The developing
countries like India and China are the major consumers of Water Meter in this
region.
North America and Europe are also estimated to have a
positive influence on the future growth. North America is the second largest
region with significant market share. The United States is the major consumer
of Water Meter in this region. However, Europe is estimated to grow at fastest
pace with the highest CAGR in the foremost period.
The key players of Water Meter Market are Jiaxing Eastron
Electronic Instruments Co., Ltd., Diehl Stiftung & Co. KG, NINGBO WATER
METER CO., LTD., Azbil Kimmon Co., Ltd., Plata Meter Co., Ltd, Badger Meter,
Inc., B Meter, Itron Inc., Elster Group GmbH, Gioanola S.R.L., Mueller Systems,
and Aichi Tokei Denki Co., Ltd. These players are concentrating on inorganic
growth to sustain themselves amongst fierce competition.
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