The flow indicator market’s size for 2024 is predicted to be USD 742.9 million. In 2023, the market’s size was USD 714.2 million. The market is expected to grow at a CAGR of 4.3% over the forecast period. By 2034, the market is expected to reach USD 1,058.1 million.
| Attributes | Details |
|---|---|
| Flow Indicator Market Value for 2024 | USD 742.9 million |
| Projected Market Value for 2034 | USD 1,058.1 million |
| Value-based CAGR of Market for 2024 to 2034 | 4.3% |
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The flow indicator market was valued at USD 620.0 million in 2019. Over the historical period from 2019 to 2023, the market grew at a CAGR of 3.6%.
Sales of flow indicators continued to rise during the historical period. However, the pandemic resulted in several industrial units shutting down. Due to the pandemic, the rate of new industrial units opening slowed down, resulting in fewer piping systems being installed. By the end of the historical period in 2023, the value of the market reached USD 714.2 million.
| Market Valuation (2019) | USD 620.0 million |
|---|---|
| Historical CAGR (2019 to 2023) | 3.6% |
| Historical Market Valuation (2023) | USD 714.2 million |
Long-term Analysis of the Flow Indicator Market
For 2024, the value of the flow indicator market is estimated to be USD 742.9 million. During the period from 2024 to 2034, the market is expected to progress at a CAGR of 4.3%.
Compared to the historical period, the progress of the market is expected to be faster over the forecast period. With rising industrial production, post-pandemic, the number of piping systems being installed is also rising. A rise in the number of piping systems is conducive to the growth of the flow indicator market, which is expected to drive the market during the forecast period.
Several people are becoming conscious of the need for proper flow of liquids and gases in pipes. They are also concerned about the leakage from pipes disrupting normal flow in industries and buildings. There is also a growing consciousness of the severe effects of leaking gases and liquids in the surroundings, for example, contamination of water bodies or the release of harmful gases into the atmosphere. Thus, there is an increasing acceptance of the use of flow indicators to regulate pipe systems. The market is projected to reach USD 1,058.1 million by the end of the forecast period.
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The demand for flow sight indicators is rising and is estimated to hold a share of 32.0% of the market by product type.
The flow sight indicators not only indicate the flow rate of liquids and gases but also provide a visual component. In addition to answering the question of flow happening, the color of the water can also be checked for contamination. Thus, flow sight indicators are witnessing an increasing adoption in industries.
| Attributes | Details |
|---|---|
| Top Product Type | Flow Sight Indicator |
| Market Share in 2024 | 32.0% |
The power industry widely utilizes flow indicators. In 2024, the power industry is expected to hold 19.0% of the market share by the end-use industry.
Industrial power units feature an intricate series of pipes through which water flows. To make sure of the flow of water through the maze of pipes, flow indicators are being rapidly accepted into the power industry.
| Attributes | Details |
|---|---|
| Top End-use Industry | Power Industry |
| Market Share in 2024 | 19.0% |
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The Asia Pacific region is experiencing an increasing need for flow indicators. The rise of industries in the region is helpful to the growth of the market. The rapidly increasing population of the region is also in constant need of power, and thus, the power industry is expanding, paving the way for growth.
Europe is another region that represents an opportunity for market growth. Rapid technological development in the region is aiding the adoption of technologies like flow indicators to be accepted into European factories.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 3.9% |
| Australia | 4.0% |
| United Kingdom | 3.9% |
| India | 5.0% |
| China | 4.8% |
India is one of the most promising countries in the market. The CAGR for the market in India is expected to be 5.0% from 2024 to 2034.
In India, government initiatives promote small and medium-scale industrial production. As the requirement of small and medium-scale production is not large, manufacturers are adjusting to requirements. Thus, sales of small-sized flow indicators are increasing in India.
The CAGR for the market in China is pegged at 4.8% over the forecast period.
Chinese manufacturers are striving to meet the increasing need for flow indicators in Chinese industries. Thus, new product launches are common in China. The rising focus on innovation in China is stimulating the demand for flow indicators.
The CAGR for the market in Australia is predicted to be 4.0% over the forecast period. Australia is seeing increased production, import, and consumption of gas. The demand for flow indicators is increasing in the natural gas industry due to rising sustainability concerns. Flow indicators are used to monitor the extensive piping systems involved in the gas industry.
The United Kingdom is one of the leading countries in Europe with potential for market growth. Over the forecast period, the CAGR for the United Kingdom market is predicted to be 3.9%.
The United Kingdom is home to a number of companies with storied histories in making flow indicators. Brands like Rhodes and Arkon have earned the trust of industrialists.
In the United States, industry players prefer flow indicators that have been customized to specific needs. There is a drive to maximize the efficiency of flow indicators due to ongoing trend of customized products in the market. The CAGR for the United States market is projected to be 3.9% over the forecast period.
Market players are intensely focused on innovations that account for the varying needs of a diverse range of industries. Market players are paying attention to customization and the increasing pressure-handling capabilities of flow indicators.
Companies are focusing on advertising to differentiate their products from other products like flow meters. They are also focusing on innovations and are adopting strategies to remain competitive in the market.
Recent Developments in the Flow Indicator Market
The size of the flow indicator market is estimated to be USD 742.9 million in 2024.
Sight flow indicator is the leading product type in the flow indicator market, with an expected market share of 32.0% in 2024.
The power industry drives the demand for flow indicators, with a projected market share of 19.0% in 2024.
The flow indicator market size is expected to be USD 1,058.10 million by 2034.
The flow indicator market is predicted to progress at a CAGR of 5.0% from 2024 to 2034 in India.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type 5.1. Sight Flow Indicators 5.2. High Pressure Sight Flow Indicators 5.3. Paddle Wheel Flow Indicators 5.4. Rotameter Flow Indicators 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Channel 6.1. OEM 6.2. Aftermarket 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 7.1. Oil and Gas 7.2. Food Processing 7.3. Chemical Manufacturing 7.4. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. ABB Ltd. 18.2. Emerson Electric Corporation 18.3. em-tec GmbH 18.4. Endress+Hausar AG 18.5. General Electric 18.6. Hitachi High-Tech Corporation 18.7. Honeywell International Inc. 18.8. HÖNTZSCH GMBH & CO. KG 18.9. Krohne Messtechnik Gmbh 18.10. Siemens 18.11. Yokogawa Electric Corporation 19. Assumptions & Acronyms Used 20. Research Methodology
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Flow Indicator Market
