Market Size of Asia Pacific Water Meter Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 10.78 Billion |
Market Size (2029) | USD 17.53 Billion |
CAGR (2024 - 2029) | 10.21 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Water Meter Market Analysis
The Asia Pacific Water Meter Market size is estimated at USD 10.78 billion in 2024, and is expected to reach USD 17.53 billion by 2029, growing at a CAGR of 10.21% during the forecast period (2024-2029).
The water demand is increasing across the Asia-Pacific region owing to rapid urbanization and growing construction and manufacturing activities, which, in turn, is driving the need for water meters. Rapid metering development helps water utilities monitor, measure, and analyze their resources more efficiently.
- Asian countries, including Japan, India, and China, heavily invest in smart water meters with the increased foreign investment. Further, the need to ensure accurate water billing and detect leakages to avoid wastage fuels the adoption of smart water meters in the countries. Smart water meters improve billing accuracy and reduce non-revenue water losses.
- According to the National Bureau of Statistics of China, in 2022, 65.22% of the population lived in urban areas in China. Furthermore, China's urbanization rate increased from 63.89% in 2021 to 65.22% in 2022. This, in turn, is expected to create the need for effective water resources management, driving the growth of the given market.
- As the Asia Pacific region is highly populated compared to the European or North American area, the need to effectively manage water as an essential resource is very much required, as several cities have reported water shortages in the past few years. For instance, according to Niti Aayog, the Government of India, the states of Maharashtra, Karnataka, Gujarat, Jharkhand, Rajasthan, Andhra Pradesh, and Tamil Nadu have been facing severe water crises for the last few years.
- Increasing industrial and agricultural activities also support the growth of the studied market as industries, especially manufacturing, consume large amounts of water. For example, according to SK Hynix, a leading manufacturer of semiconductors, the production of semiconductors requires a large amount of water that, left unregulated, can contribute to wastage and pollution. Rapid population growth and climate change create demand for water resource management systems for a sustainable future.
- According to AsiaWater.org, by 2050, 70% of Asia's population will likely reside in urban areas, creating demand for clean water supply. However, the need for a proper regulatory framework, awareness among the consumers, availability of a skilled workforce, and high installation costs are some of the primary factors that can affect the growth of the studied market.
Asia Pacific Water Meter Industry Segmentation
Water meters are increasingly becoming an essential component of the public water supply system as they track how much water is used in commercial and residential buildings connected to a public water delivery system. These devices also enable the facility managers to figure out how much fluid flows through a certain system section. The report offers a comprehensive study-based analysis of the water meter market in the Asia-Pacific region.
The Asia-Pacific water meter market is segmented by type (basic meters, smart meters), application (industry, water utilities), and country (China, India, Japan, South Korea, Indonesia, and the Rest of Asia-Pacific).
The market sizes and forecasts are provided in terms of value in USD for all the above segments.
By Type | |
Basic Meters | |
Smart Meters |
By Application | |
Industrial | |
Water Utilities |
***By Country | |
China | |
India | |
Japan | |
South Korea | |
Indonesia |
Asia Pacific Water Meter Market Size Summary
The Asia Pacific water meter market is poised for significant growth, driven by increasing water demand due to rapid urbanization and industrial activities in the region. The adoption of smart water meters is gaining momentum, particularly in countries like Japan, India, and China, where there is a strong focus on improving water resource management. These smart meters are essential for ensuring accurate billing, detecting leakages, and reducing non-revenue water losses. The region's high population density and past water shortages have underscored the need for effective water management solutions. Additionally, the growth of the ICT sector and the integration of technologies like IoT and AI are creating a favorable environment for the deployment of smart water meters, further propelling market expansion.
The market landscape is moderately competitive, with key players such as Honeywell International Inc., Diehl Stiftung & Co. KG, and Arad Group actively participating in the region's development. Initiatives like Singapore's national water agency's rollout of smart water meters and China's focus on stabilizing water supply through advanced technologies highlight the ongoing efforts to enhance water management infrastructure. Despite challenges such as high installation costs and the need for regulatory frameworks, the market is expected to grow as governments and industries increasingly recognize the importance of sustainable water resource management. The collaboration between technology providers and local authorities, as seen in various projects across the region, is likely to drive innovation and adoption of smart water metering solutions.
Asia Pacific Water Meter Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of the Impact of Key Macroeconomic Trends on the Market
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1.5 Coverage on the use of IoT & CommunicationTechnologies in the Water Meter Market (Nb-IoT, LTE-M, etc.)
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Basic Meters
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2.1.2 Smart Meters
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2.2 By Application
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2.2.1 Industrial
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2.2.2 Water Utilities
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2.3 ***By Country
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 South Korea
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2.3.5 Indonesia
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Asia Pacific Water Meter Market Size FAQs
How big is the Asia Pacific Water Meter Market?
The Asia Pacific Water Meter Market size is expected to reach USD 10.78 billion in 2024 and grow at a CAGR of 10.21% to reach USD 17.53 billion by 2029.
What is the current Asia Pacific Water Meter Market size?
In 2024, the Asia Pacific Water Meter Market size is expected to reach USD 10.78 billion.