July 11, 2018
WELLESLEY, Mass., July 11, 2018–Growing numbers of vehicles, increased access to piped gas and the growing popularity of public transport are all helping to drive growth in the flow meter and counting devices market, according to a report by BCC Research.
The industry is expected to see a compound annual growth rate (CAGR) of 4.3% through 2022, when it could be worth $63 billion, according to the report Flow Meter and Counting Devices: Global Markets to 2022.
Major players in the market mentioned in this report include ABB Group, General Electric, Honeywell International, Itron and Landis+Gyr, among others.
“The global flow meter and counting devices market has significant growth potential for speed indicators and gas and liquid flow meters,” the report notes. “Rapid growth in the number of vehicles in emerging markets, increased access to piped gas, growing popularity of public transportation and increasing health consciousness among millennia is driving the demand for flow meter and counting devices market.”
Market Limited in Part by a Decline in the Number of Gas Stations
Profitability issues and land constraints are conspiring to reduce the number of gas stations in major metropolitan areas, and that in turn is limiting demand for flow meters and counting devices. Major American cities such as Boston, Washington, D.C. and San Francisco in particular have seen this decline, and nationwide in the U.S. the number of gas stations decreased by about 3,000, to 150,000, in 2017
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Flow Meter and Counting Devices Manufacturing: Global Markets to 2022( IAS133A )
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