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Global flowmeter market to reach $8.72bn by 2021, driven by Middle East and Asia

The global market for flowmeters is estimated to reach $8.72 billion (€7.94bn) by 2021, registering a compound annual growth rate of 6.4% between 2016 and 2021.

The market for flowmeters is largely driven by the rising demand for accurate measuring instruments from water and wastewater, and oil and gas industries.

There is an increased demand for reliable flowmeters, which is driving the market of ultrasonic and Coriolis flow meters.

Applications for flowmeters in the oil and gas industry include custody transfer measurement, mass flow measurement of crude oil, fluid loss and leak detection, process gas flow, hydraulic fluid flow sensing, and others.

The rising demand for flowmeters in the Middle East and Africa and Asia-Pacific are expected to boost the growth of the flowmeters market in the oil and gas industry.

The rising demand for smart flowmeters is driving the growth of the market in Asia-Pacific.

The market in the region is driven by the increased demand from China and India, with China as the largest market in the region.

Oil and gas, pharmaceutical, and food and beverage industries are gaining momentum in the region, which is estimated to drive the market for flowmeters.





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