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The Global Water Meter Market, By Type (Rotary Piston, Single Jet, Multi Jet, Woltman, Combination, Electromagnetic, Ultrasonic), By Application(Residential, Commercial and Industrial),and by Region (North America, Latin America, Europe, APAC and MEA) - Global Forecast to 2027”, is expected to be valued at US$ 6,234.0 million by 2027, exhibiting a CAGR of 5.0 % during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.

Overview

Water meter is a device utilized to measure the volume of water used in residential and commercial buildings. Water meters come in different sizes and shapes depending upon the amount of water passing through the pipe. Smart water meters are the advanced water meters with communication capabilities where they can send readings directly to the supplier. Smart water reduces the requirement of manual meter reading and then sending the reading to the supplier for billing purposes. A smart water meter consists of radiofrequency module (RF), antenna, battery, and other components. These components together form a communication system that helps to deliver the information to suppliers. Smart water meter has additional components that are not found in a standard meter.

The global water meter market was valued for US$ 4093.3 Mn in 2019 is expected to exhibit a CAGR of 5.0% during the forecast period.

Market Driver

Growing awareness among consumers toward water conservation and prevention is expected to drive growth of the global water meter market during the forecast period

Water is the most essential resources for survival of human race and hence awareness regarding conservation of water is extremely important. According to UN-Water, the United Nations inter-agency coordination mechanism for all freshwater-related issues, including sanitation, by 2025 around 1.8 billion people around the world will be living in regions with absolute water scarcity and approximately two-thirds of the global population is expected to be under stress conditions. Moreover, according to the United Nations Water World Development Report, in 2015, that by 2050 there will be an increase of around 20% in the number of lakes affected by algal blooms. In order to avoid these situations, numerous programs have been undertaken at global level such as the UN’s Water for Life Decade 2005-2015 and the United Nations Educational, Scientific and Cultural Organization’s (UNESCO) World Water Assessment Programme (WWAP). Water meters play a major role in these programs on the global level, which in turn, boost awareness among consumers. Hence, these factors are expected to boost the global water meter market growth during the forecast period.

Market Opportunity

Rapid digitalization of the water industry operation is expected to present major growth opportunities

Various emerging economies have started the overhaul of the water industry with incorporation of digital readings and smart meters. For instance, in 2014, the City of Wheaton, Illinois, U.S. commenced a water meter replacement program, which was expected to complete in 2019. Under this program, most of the 16,500 water meters installed in the city would be replaced with advanced meters with wireless connectivity. Moreover, increasing integration of advanced technology such as wireless communication, Internet of Things (IoT), and more has enhanced the efficacy of water distribution establishments. Market players can offer innovative water meters and provide advanced technologies as a service and capitalize on the untapped market potential.  

Market Restraints

High initial investments and long cost-recovery period are expected to hamper the global water meter market growth over the forecast period

Installation of water meters, especially smart water meters require high initial investment. In fact, its cost-recovery period is too long, which in turn, hinders their adoption, especially in emerging economies. Moreover, integration of advanced technologies in smart water meter such as Internet of Things (IoT) and geographic information systems (GIS) result in additional cost. Besides, automated reporting of data requires technologies such as power line communication (PLC), broadband, wireless radio frequency, and cellular transmission, which would increase the overall cost by a large margin. Hence, these factors are expected to hinder the global water meter market growth during the forecast period.

Market Trends

  1. Europe Trends

Cellular connectivity

In Europe, Sierra Wireless provides cellular communication services for smart metering services. It involves 4G LTE with low latency and integrated IP infrastructure. The company also projects development of low power and low range cost-effective solutions that can help the development of LTE-M (LTE for M2M). The company has its local office at Hampshire, U.K.

Growing implementation of plastic or polymer/composites

Zenner, a German manufacturer has been using plastic for its water meters for many years. The company uses polymer for manufacturing its water meters as it provides low weight, low starting flow and reliable measurement characteristics. Furthermore, this material can work with highly aggressive water qualities or dezincification effects. MTKD-L-M and MTKD-L-N, MNK-L-RP and MNK-L-RP-N and MNK-L and MNK-L-N are a few of the water meters produced by Zenner in a plastic body.

  1. Asia Pacific Trends

Metering-as-a-service

Ericsson offers smart metering technology services with a combination of communication network services and advanced technologies for enhanced operational efficiency and improved customer value. Furthermore, the company provides smart metering-as-a-services either on site or from its meter operation center based on versatile platform. Ericsson has offices in more than 10 countries within the Asia Pacific region.

Increasing adoption of plastic

Ningbo Water Meter Co. Ltd., a China-based manufacturer of water meters, has manufacturing facilities located within the country to enhance the production base. Ningbo manufactures single jet, multi jet, and rotary piston water meters with plastic body or operating parts.

Regulations

Asia Pacific

  • According to the NSW Interim Water Meter Standards for Closed Conduit Metering, Australia, each meter should be designed and manufactured such that the maximum error does not exceed (±2.5%). Also, wherever practical, a meter should not be installed in close proximity to a pump. A meter must be re-calibrated if its metrological performance has been affected by maintenance of the meter.
  • According to The New Zealand Water Measurement Code of Practice, the meter chosen must also meet the following standards:
    • ISO4064-1:2005 (Measurement of water flow in fully charged closed conduits -- Meters for cold potable water and hot water) and/or
    • ISO4064-1999 class B (Test methods for parameters such as vibration, impact and damp and dry heat) and/or
    • OIML R49.1:2006 pattern approved

According to the Fluid Control Research Institute (FCRI) of India, all water meters within its jurisdiction must comply with the model approval program (MAP). Validity of MAP is 3 years (for meters up to 50mm) and 5 years (for meters greater than 50mm).

Competitive Section

Key players operating in the global water mater market are Diehl Stiftung & Co. KG, Jiaxing Eastron Electronic Instruments Co., Ltd, Azbil Kimmon Co., Ltd., NINGBO WATER METER CO., LTD., Badger Meter, Inc., Elster Group GmbH, Plata Meter Co., Ltd, Master Meter, Inc., Mueller Systems, LLC, Neptune Technology Group Inc., ZENNER International GmbH & Co. KG, Gioanola S.R.L., Sensus (Xylem Inc.), Aichi Tokei Denki Co., Ltd, Kamstrup A/S, Apator SA, Maddalena Spa, Arad Group, Fedrel Meter, and Itron Inc.

Key Developments

  1. Key players in the market are focused on contracts and agreements, in order to gain competitive edge in the market. For instance, in July 2017, Mueller Systems, LLC entered into agreement with Landis+Gyr, to integrate Landis+Gyr’s latest RF Mesh IP communications technology in Muller Systems advanced water AMI module.
  2. Major market players are involved in product launches, in order to enhance the product portfolio. For instance, in June 2018, Itron Inc. introduced ultrasonic Intelis water meter.

Segmentation

Market Taxonomy:

  1. By Type
  • Rotary Piston
  • Single Jet
  • Multi Jet
  • Woltman
  • Combination
  • Electromagnetic
  • Ultrasonic
  1. By Application
  • Residential
  • Commercial
  • Industrial
  1. By Region
  • North America
  • Latin America
  • Europe
  • APAC
  • Middle East and Africa
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