1 Global Steam Flow Meters Market Size (Revenue) and CAGR (2024-2033)
Global Steam Flow Meters market generated revenue of USD 582.99 Million in 2024 with a CAGR of 5.53% during 2024 to 2033.
The current situation of the Steam Flow Meters market, as of 2024, shows a steady growth trend. The market value has reached 582.99 M USD, indicating a consistent demand for steam flow meters across various industries. This growth can be attributed to several factors, including the increasing need for accurate and efficient flow measurement in industrial processes, the adoption of smart and advanced metering technologies, and the expansion of industries such as chemical, oil & gas, pharmaceutical, and power, which are major consumers of steam flow meters.
The market is also influenced by the ongoing trend of digitalization and automation in industrial settings, which drives the demand for high-tech and reliable steam flow meters. Additionally, the market is expected to continue growing due to the increasing focus on energy efficiency and process optimization, as steam flow meters play a crucial role in monitoring and controlling steam usage in various applications.
However, the market also faces challenges such as the lack of skilled technicians to operate and maintain the meters, and fluctuations in oil and natural gas prices, which can impact investment in related infrastructure projects. Despite these challenges, the market outlook remains positive, with a forecasted CAGR of 5.53% from 2024 to 2033, suggesting a healthy growth trajectory for the steam flow meters industry.
Figure Global Steam Flow Meters Market Size (M USD) Outlook (2024-2033)
2 Steam Flow Meters Market Trends Analysis
Table Market Trends of Steam Flow Meters
Market Trends | Description |
Increased competition | The competition among vendors will increase during the forecast period. Vendors will compete to deliver competitive advantages in the market on the basis of pricing, user-friendly interfaces, value-added benefits, and service portfolios. During the forecast period, we expect this competition to intensify with a decrease in demand. |
Continuous innovation | Technological innovations have an important role in driving the growth of the market. To sustain in the competitive market, vendors should develop new ideas and technologies and stay up-to-date with the advanced technologies. |
3 Global Steam Flow Meters Market by Type in 2024
In 2024, the Steam Flow Meters market was diverse, encompassing several product types, each with distinct definitions and market dynamics.
Orifice Plate Flowmeters are traditional devices that measure flow by creating a pressure drop across an orifice plate. They are reliable and widely used in various industries due to their simplicity and accuracy. In 2024, this type held a significant market share, valued at 140.90 M USD, and accounted for approximately 24.17% of the total market. Their market share was the largest among all types, reflecting their enduring popularity and extensive application base.
Variable Area Flowmeters operate on the principle of a float rising in a tapered tube as the flow increases. These meters are known for their linear response and wide flow range. In 2024, they had a market value of 70.32 M USD, representing about 12.06% of the market. While not the largest, they maintained a steady presence in the market.
Spring Loaded Variable Area Flowmeters are an advanced version of variable area flowmeters, using a spring to balance the force on the float. This design allows for more precise measurements and is less affected by gravity. In 2024, they had a market value of 39.93 M USD, or 6.85% of the total market. Their growth rate was notable, indicating a rising demand for more sophisticated measurement solutions.
Direct In-Line Variable Area (TVA) Flowmeters are designed for direct insertion into the flow stream, offering a compact and efficient solution. They had a market value of 54.03 M USD in 2024, accounting for 9.27% of the market. Their growth rate was also significant, suggesting an increasing preference for in-line measurement technologies.
Ultrasonic Flowmeters use ultrasonic waves to measure the velocity of the fluid flow. They are highly accurate and can handle a wide range of flow rates. In 2024, they had a market value of 88.75 M USD, or 15.22% of the market. Ultrasonic flowmeters were among the fastest-growing types, driven by their advanced technology and minimal maintenance requirements.
Vortex Shedding Flowmeters measure flow by detecting the frequency of vortices shed from a bluff body. They are robust and suitable for a variety of fluids. In 2024, they had a market value of 137.30 M USD, or 23.55% of the market. They had a slightly lower growth rate compared to ultrasonic flowmeters but remained a strong contender in the market.
Among these product types, Orifice Plate Flowmeters had the largest market share in 2024, while Ultrasonic Flowmeters were noted for their fastest growth rate, highlighting the market’s trend towards adopting more advanced and accurate measurement technologies.
Table Global Steam Flow Meters Market Size and Share by Type in 2024
Type of Steam Flow Meters | Market Size (M USD) | Market Share (%) |
|---|---|---|
Orifice Plate Flowmeters | 140.90 | 24.17 |
Variable Area Flowmeters | 70.32 | 12.06 |
Spring Loaded Variable Area Flowmeters | 39.93 | 6.85 |
Direct In-Line Variable Area (TVA) Flowmeters | 54.03 | 9.27 |
Ultrasonic Flowmeters | 88.75 | 15.22 |
Vortex Shedding Flowmeters | 137.30 | 23.55 |
Others | 51.76 | 8.88 |
Total | 582.99 | 100.00 |
4 Global Steam Flow Meters Market by Application in 2024
The applications of Steam Flow Meters span across multiple industries, each with unique requirements and market sizes.
Chemical Industry is a major consumer of steam flow meters, using them for process control and quality assurance. In 2024, the chemical application had a market value of 163.08 M USD, or 27.97% of the total market. The chemical industry’s large-scale operations and strict regulatory requirements drive the demand for precise and reliable flow measurement, making it the largest application segment.
Oil & Gas Industry utilizes steam flow meters for monitoring and optimizing production processes. In 2024, this application had a market value of 135.44 M USD, or 23.23% of the market. The oil & gas industry’s focus on efficiency and safety, coupled with the need for accurate flow data, contributes to its significant market share.
Pharmaceutical Industry relies on steam flow meters for sterilization and production processes. In 2024, the pharmaceutical application had a market value of 117.39 M USD, or 20.14% of the market. The industry’s stringent quality standards and the critical nature of steam flow in pharmaceutical processes ensure a steady demand for high-quality meters.
Power Industry uses steam flow meters for energy management and process control in power plants. In 2024, the power application had a market value of 72.48 M USD, or 12.43% of the market. The power industry’s drive towards efficiency and sustainability supports the demand for advanced flow measurement solutions.
Among these applications, the Chemical Industry had the largest market share in 2024, driven by its extensive use of steam flow meters in various processes. The Pharmaceutical Industry showed the fastest growth rate, highlighting the increasing importance of precise flow measurement in pharmaceutical manufacturing and the growing demand for high-quality, compliant measurement solutions.
Table Global Steam Flow Meters Market Size and Share by Application in 2024
Application | Market Size (M USD) | Market Share (%) |
|---|---|---|
Chemical | 163.08 | 27.97 |
Oil & Gas | 135.44 | 23.23 |
Pharmaceutical | 117.39 | 20.14 |
Power | 72.48 | 12.43 |
Others | 94.60 | 16.23 |
Total | 582.99 | 100.00 |
5 Global Steam Flow Meters Market by Region in 2024
In 2024, the global Steam Flow Meters market was segmented across several key regions, each contributing uniquely to the overall market dynamics. The market sizes and shares by major region in 2024 were as follows:
North America had a market value of 199.19 M USD, accounting for 34.17% of the total market. The region’s robust industrial base, particularly in the United States, and a strong focus on technological advancements and regulatory compliance, contributed to its significant market share. The market in North America was characterized by a stable growth trajectory, driven by continuous investments in infrastructure and process optimization across various industries.
Europe held a market value of 212.76 M USD, representing 36.49% of the global market. Europe’s market was influenced by its diverse industrial landscape, ranging from chemical and pharmaceutical to power and oil & gas sectors. The region’s emphasis on precision engineering and high-quality manufacturing standards positioned it as a leading market for steam flow meters. Despite economic fluctuations, Europe maintained a steady demand for advanced measurement technologies, reflecting its commitment to industrial efficiency and environmental sustainability.
Asia Pacific was valued at 141.86 M USD, with a market share of 24.33%. The region’s rapid industrialization, especially in countries like China and India, fueled the growth of the steam flow meters market. The Asia Pacific region was the fastest-growing market, driven by the expansion of manufacturing industries, increased urbanization, and growing energy demands. The region’s market was characterized by a high potential for technological adoption and a rising need for efficient resource management.
South America had a market value of 17.60 M USD, or 3.02% of the global market. The region’s market was influenced by its developing industrial sectors and the need for infrastructure development. South America showed a moderate growth rate, with Brazil being a significant contributor to the market dynamics in the region.
Middle East and Africa had a market value of 11.62 M USD, accounting for 1.99% of the market. The region’s market was driven by the oil & gas industry and the growing demand for efficient energy management. Despite geopolitical challenges, the region showed a steady demand for steam flow meters, particularly in the Middle East, where investments in infrastructure and energy projects continued to grow.
Among these regions, Europe was identified as the biggest regional market by revenue in 2024, with a market value of 212.76 M USD. The Asia Pacific region was noted for its fastest growth rate, driven by rapid industrialization and increasing demand for efficient and accurate flow measurement solutions.
Table Global Steam Flow Meters Market Size, Region Wise in 2024
Region | Market Size (M USD) | Market Share (%) |
|---|---|---|
North America | 199.19 | 34.17 |
Europe | 212.76 | 36.49 |
Asia Pacific | 141.82 | 24.33 |
South America | 17.60 | 3.02 |
Middle East and Africa | 11.62 | 1.99 |
Total | 582.99 | 100.00 |
Figure Global Steam Flow Meters Market Revenue Share by Region in 2024
6 Global Steam Flow Meters Market Top 3 Players
Company Introduction and Business Overview: Rosemount, a subsidiary of Emerson Electric Co., is a global leader in the design and manufacture of a wide range of measurement and analytical instruments. Established in 1956, the company is headquartered in St. Louis, Missouri, USA. Rosemount offers innovative solutions for customers in industrial, commercial, and residential markets, focusing on automation and control technologies to enhance efficiency and safety.
Products Offered: Rosemount’s product portfolio includes a variety of steam flow meters, such as the Rosemount 8800 MultiVariable Vortex Flow Meter. This advanced meter combines temperature and flow devices into a single, highly accurate instrument, eliminating the need for multiple separate devices. It provides temperature and pressure compensation, enabling compensated mass flow and corrected volume measurements in steam and liquid applications.
Revenue in 2020: In 2020, Rosemount reported a revenue of 78.35 M USD, maintaining its position as a leading player in the steam flow meters market. The company’s strong R&D capabilities and commitment to innovation have allowed it to offer products that meet the evolving needs of its customers, contributing to its robust financial performance.
Company Introduction and Business Overview: ABB is a pioneering technology leader that writes the future of industrial digitalization. With a history dating back to 1873, ABB has a presence in over 100 countries and employs around 147,000 people. The company offers a wide range of products, solutions, and services across various industries, including power, industrial automation, robotics, and electrification products.
Products Offered: ABB’s steam flow meters include the FSV450 VortexMaster, which represents the next level in vortex technology. This smart, intelligent flowmeter is designed for high-end flow applications and uses a two-wire transmitter with leading-edge DSP technology. It is ideal for direct mass flow or standard flow measurements of gases and liquids, as well as direct mass and energy flow on saturated and superheated steam.
Revenue in 2020: ABB’s revenue in the steam flow meters segment for 2024 was 75.65 M USD. The company’s extensive global reach and diverse product portfolio have enabled it to maintain a strong market position, leveraging its technological expertise to deliver innovative solutions to its customers.
Company Introduction and Business Overview: Endress+Hauser is a global leader in measurement and automation technology for process and laboratory applications. Founded in 1953, the company is headquartered in Reinach, Switzerland. Endress+Hauser provides a comprehensive range of sensors, instruments, systems, and services for level, flow, pressure, and temperature measurement, as well as analytics and data acquisition.
Products Offered: Among its product offerings, Endress+Hauser’s Prowirl F series stands out as a versatile flowmeter with detection of wet steam conditions and best-in-class accuracy. The Prowirl F 200, with its genuine loop-powered technology, enables cost-effective and seamless integration into existing infrastructures. It offers high operational safety in hazardous areas and ensures process safety at all times with its Heartbeat Technology.
Revenue in 2020: In 2020, Endress+Hauser achieved a revenue of 65.05 M USD in the steam flow meters market. The company’s focus on innovation and customer-centric solutions has allowed it to maintain a strong market presence, providing reliable and accurate measurement instruments to a wide range of industries.
Table Global Steam Flow Meters Revenue Share of Top3 Players in 2020
Company | 2020 |
Rosemount (Emerson) | 16.90% |
ABB | 16.31% |
Endress+Hauser | 14.03% |