Totalizing Fluid Meter and Counting Device Global Market Report 2022

ReportLinker

Major Players of Totalizing Fluid Meters and Counting Devices Market are Honeywell International Inc, Emerson Electric Co., General Electric, Siemens, Emerson Electric Co, ABB Group, Badger Meter Inc.

New York, March 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Totalizing Fluid Meter And Counting Device Global Market Report 2022” – https://www.reportlinker.com/p06247461/?utm_source=GNW
Yokogawa Electric and Badger Meter.

The global market for totalizing fluid meters and counting devices is expected to grow from USD 24.56 billion in 2021 to USD 25.15 billion in 2022 at a compound annual growth rate (CAGR) of 2.4%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to decline to $24.97 billion in 2026 at a CAGR of -0.2%.

The totalizing fluid meters and counting devices market includes sales of totalizing fluid meters and counting devices and related services such as linear, non-linear, mass or volumetric flow measurement of a liquid or fluid. ‘a gas. Totalizing flowmeters and counting devices are instruments used to measure the volume or mass of a gas or liquid.

Some examples of totalizing fluid meters and counting devices are gas consumption meters, water consumption meters, parking meters, taxi meters and gauges for motor vehicles and fare collection equipment.

The main types of totalizing fluid meters and counting devices are differential pressure flow meters, positive displacement flow meters, velocity flow meters, mass flow meters and open channel meters. Volume flow in gases, liquids and steam is measured using a differential pressure flow meter.

They are especially useful in situations involving high pressure, high temperature, or large diameter. The devices are used by various end users such as water and wastewater, refining and petrochemical, oil and gas, chemical, power generation, pulp and paper and metals and mining.

Asia-Pacific was the largest region in the totalizing fluid meters and counting devices market in 2021. North America was the second largest region in the totalizing fluid meters and counting devices market.

Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Growing demand from automobile manufacturers has contributed to the growth of the flow meter and metering device manufacturers market. The growth of emerging markets for car manufacturers has been driven by the growing popularity of public transport and the rapid growth in the number of vehicles.

According to a study in 2019, the total global vehicle fleet stood at 1.432 billion cars and trucks and is expected to reach 2.8 billion vehicles by 2036. Hence, growing demand from automobile manufacturers is expected to drive the market flow meters and counting devices. such as parking meters, taximeters and gauges for motor vehicles and fare collection equipment.

Rising geopolitical tensions and trade protectionism are expected to negatively impact the totalizing fluid meters and counting devices market over the forecast period. The repercussions of geopolitical tensions included sanctions against Russia, trade protectionism and heightened military tensions in the Middle East.

Many countries have imposed trade restrictions, especially on imports, to stimulate local production. For example, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe.

The United States is also putting in place several trade restrictions, particularly with China, to boost its local production. For example, the United States imposed tariffs of 25% on steel and 10% on aluminum, which led to cost inflation for the totalizing fluid meter and counting device.

Continued violence and terrorism in the Middle East and other parts of the world are also expected to negatively impact the market.

Leading companies in the totalizing fluid meter and counting device industry are using smart technology to improve decision-making capabilities and thereby generate profits. Companies in this industry use technology to optimize payment methods, subscription management, optimize the app, and enable end-user companies to analyze usage.

Counting devices such as parking meters have been revolutionized with the advent of smart technologies. Companies such as IPS Group, a US-based company, announced their latest app called Park Smarter.

The app allows drivers to connect directly to a physical parking meter with their smartphone and pay via cashless transactions. Other companies such as ParkiFi are also investing in making parking meters “smarter” through the use of big data and sensors.

In December 2019, Honeywell, a publicly traded conglomerate that manufactures commercial and consumer products, engineering services and aerospace systems, acquired Rebellion Photonics for an undisclosed amount. Rebellion Photonics will join Honeywell’s Safety and Productivity Solutions business, which offers gas detection technologies, equipment, mobility solutions and software.

This acquisition complements Honeywell’s portfolio of process technologies, automation and gas detection systems and accelerates our transformation into an industrial software company. Rebellion Photonics, a US-based company, is involved in manufacturing monitoring solutions for the oil, gas, petrochemical and power industries.

The countries covered in the Totalizing Fluid Meters and Counting Devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia , South Korea, the United Kingdom and the United States.

Read the full report: https://www.reportlinker.com/p06247461/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________

CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001

About Warren Dockery

Check Also

Liquid Hand Soap Market Growing Popularity and Emerging Trends to 2027 – SMU Daily Mustang

the global liquid hand soap market the size is estimated at 2.71 billion USD in …