Water Meter Market Summary
According to the new market research report "Global Water Meter Market Report 2024-2030", published by QYResearch, the global Water Meter market size is projected to grow from USD 7.14 billion in 2024 to USD 9.10 billion by 2030, at a CAGR of 4.12% during the forecast period (2024-2030).
- Global Water Meter Market Size (US$ Million), 2019-2030
Above data is based on report from QYResearch: Global Water Meter Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
- Global Water Meter Top 25Players Rankingand Market Share (Ranking is based on the revenue of 2023, continually updated)
Above data is based on report from QYResearch: Global Water Meter Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
This report profiles key players of Water Meter such as Sensus, Badger Meter, Itron, Honeywell, Ningbo Water Meter, Neptune Technology Group, Diehl Stiftung, Kamstrup, Sanchuan Wisdom Technology, Ningbo Donghai Group, Zenner, Mueller Water Products, Hangzhou Seck Intelligent Technology, Suntront Tech, Shenzhen Huaxu Science & Technology Development, Chongqing Intelligence Water Affairs, Meter Instruments, Integrated Electronic Systems Lab, Huizhong Instrumentation, Hunan Changde Water Meter Manufacture, Hangzhou Jingda Electronic., Qundis, Lianyungang Water Meter, B METERS, LianYunGang LianLi Water Meter, etc.
In 2023, the global top five Water Meter players account for 39.30% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Water Meter.
- Water Meter, Global Market Size, Split by Product Segment
Based on or includes research from QYResearch: Global Water Meter Market Report 2024-2030.
In terms of product type, Smart Water Meter is the largest segment, hold a share of 70.60%.
- Water Meter, Global Market Size, Split by Application Segment
Based on or includes research from QYResearch: Global Water Meter Market Report 2024-2030.
In terms of product application, Residential is the largest application, hold a share of 78.32%.
- Water Meter, Global Market Size, Split by Region
Based on or includes research from QYResearch: Global Water Meter Market Report 2024-2030.
Market Drivers:
Saving resources and protecting the environment are my country's basic national policies. Energy conservation and environmental protection will be an important issue that must be paid attention to in future economic development. The country has successively introduced a series of energy-saving measures such as heating metering, tiered water prices, tiered gas prices, and the construction of sewage treatment and water conservancy facilities. Environmental protection policies and industrial policy support will promote the rapid development of smart metering instruments. The sustainable development strategy of water resources has been established in aspects such as the application of measuring instruments, water price and charging reform, and the transformation of water supply pipe network facilities, which has strongly supported the rapid development of the smart water meter industry.
In recent years, the government has attached great importance to the protection and comprehensive utilization of water resources, urban energy conservation and emission reduction, and has continuously strengthened the dispatch management of water supply and use, water price reform, and the promotion of heating system upgrades and billing based on heat, thus promoting the Advanced measurement technology and measuring instrument products have created widespread demand, and the ultrasonic water meter-related market shows good development prospects.
Compared with traditional mechanical meters, smart metering instruments have obvious advantages in metering performance such as metering accuracy, wear resistance, and anti-interference. The maturity of their production technology and large-scale mass production are inseparable from flow measurement technology, sensing and signal acquisition. With the development and progress of many technologies such as technology, material application and structural design technology, the market popularity and penetration of smart instrument products have also continued to increase with the advancement of material technology and industrial technology. At the same time, in recent years, microelectronics technology, signal acquisition and processing technology, remote communication technology, wireless radio frequency technology, low power consumption and weak signal processing technology have developed rapidly. Intelligent metering instruments have great advantages in environmental tolerance, sealing performance, waterproof ability, battery Substantial breakthroughs have been achieved in aspects such as battery life, and it has the possibility to cope with various complex application environments such as exposure, dust, immersion, high and low temperatures, and high humidity. The environmental adaptability and regional applicability of smart instrument products have gradually increased. In addition, through in-depth cooperation with communication Internet access technology, data mining technology, terminal control technology, etc., smart meters have developed from a single measurement and trade settlement operation mode to a systematic and intelligent direction, realizing zonal metering of water supply in pipe networks, and pipe network management. Specific practices and intelligent applications in the fields of smart water and smart cities, such as online pressure monitoring, pipe network water supply, and heat supply balance dispatch, have better adapted to the needs of modern urban development. It can be seen that the continuous progress of industry technology is a key force to promote the overall healthy development of the industry and ensure that the value of the industry chain changes to a higher direction.
The Internet of Things has become one of the strategic commanding heights of a new round of economic and technological development in the world. The development of the Internet of Things has important practical significance for promoting economic development and social progress. The development of the Internet of Things is inseparable from instrumentation. Various types of instrumentation products are an important means of detecting and obtaining external information, and are the most fundamental foundation for the development of the Internet of Things. The application fields of the Internet of Things are very wide, including logistics, environmental monitoring, energy conservation and emission reduction, traffic safety, public safety, urban management, medical and health, etc. There are many application opportunities and occasions. In addition, in recent years, the advocacy of emerging industries such as energy conservation and consumption reduction has also brought new development opportunities to my country's instrumentation industry, such as wind energy, nuclear power and other industries. These have brought more development opportunities to the issuer's industry.
Challenge:
The development time of the smart water meter industry is relatively short, and the industry foundation is relatively weak. Some companies in the industry that focus on independent innovation and have certain competitiveness are limited by their own financial strength and technical strength. They lack exploration of forward-looking theoretical and practical innovations in the industry such as basic fluid flow field research, new polymer material applications, and sensing and measurement principles. and practical conditions. The current basic status of the industry has a certain delayed impact on further breakthroughs in the overall level of the industry.
Since smart water meters and energy-saving intelligent management involve multiple disciplines and technologies such as acoustics, electronics, mechanics, software engineering, and network information technology, and as the market demand for energy measurement and energy saving continues to grow, the frequency of product upgrades is gradually accelerating. , the market has increasingly higher requirements for intelligent and integrated products and services. Technology research and development, production operations, internal management, integrated services and many other aspects have increased the industry's demand for senior compound talents. Although some dominant companies in the industry have increased investment in talent introduction and team training to meet their own development needs to a certain extent, the overall talent pool of the industry still lags behind that of leading international companies. The lack of comprehensive talents and high-end talents in the industry will have a negative impact on the development of the industry.
The number of water companies downstream of the smart water meter industry is large and dispersed, resulting in channel barriers, brand advantages and scale advantages in the industry. With the challenges and squeezes from existing competitors within the industry and new competitors outside the industry, competitive pressure and living environment are becoming increasingly severe.
Smart water meters need to be further upgraded to have the measurement function of comprehensive water parameters in the pipe network, and to provide massive data support for new smart water supply services and water information cloud platforms. This will enable water supply companies to comprehensively and accurately carry out pipe network pressure and water volume control and energy saving and consumption reduction, online water quality monitoring and early warning and alarm at the end of the pipe network, and pipe network leakage status monitoring and accurate positioning as early as possible in the entire space. Much needed new business.
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