US Water Meter Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 4.58 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Water Meter Market Analysis
The US Water Meter Market size in terms of shipment volume is expected to grow from 23.96 Million units in 2024 to 29.97 Million units by 2029, at a CAGR of 4.58% during the forecast period (2024-2029).
- Water meters are primarily used to measure the volume of water flowing through a pipe. This could either be the main water supply pipe of a building, facility, or an entire facility, or a sub-zone, like a refrigeration process unit in an industrial space. Water meters usually measure this volume in gallons or cubic feet. Over the years, water meter technology has evolved significantly from basic mechanical meters to electromagnetic, ultrasonic, and the most advanced smart meters.
- The adoption of water meters has several advantages, as it helps the user understand their bills and consumption patterns. By analyzing the meter data, they can also determine how much water was consumed over a period by keeping a simple log. Modern smart meters enable users to determine the amount of water used during an event, such as facility cleaning, and detect water flowing that they do not intend to use, such as water theft and leakage.
- The United States is among the key markets for water meters as the country has a high rate of urbanization and is among the leading spenders on water supply infrastructure. Furthermore, the high penetration of advanced technologies among businesses and consumers makes the country a lucrative smart water meter market landscape. According to the American Society of Civil Engineers, the country's drinking water infrastructure system comprises underground pipes stretching over 2.2 million miles, delivering safe, reliable water to millions of inhabitants.
- Recent years have witnessed significant growth in public and private investments aimed at modernizing the country's water supply infrastructure and promoting water conservation, which is among the major factors driving the growth of the market studied. For instance, in May 2024, The Bloomington and Normal Water Reclamation District in central Illinois was granted a USD 39 million loan by the US Environmental Protection Agency (EPA) through the Water Infrastructure Finance and Innovation Act (WIFIA). This loan plays a crucial role in funding the district's Wastewater System Modernization and Rehabilitation Program, which aims to ensure public health and environmental safety while also promoting economic development.
- The rate of urbanization in the United States is among the highest in the world. According to the data provided by the University of Michigan, currently, about 83% of the US population lives in urban areas, which is anticipated to grow beyond 89% by 2050. As water is a crucial requirement for the survival of the population, the growing urban population is also anticipated to drive the demand for water and supply infrastructure, which in turn will create opportunities in the market studied.
- However, factors such as a higher installation and maintenance cost of water meters, especially smart water meters, along with integration challenges in remote areas and within old infrastructures, continue to remain key challenging factors for the growth of the market studied.
- Furthermore, the economic condition of a country significantly affects the infrastructure development of a region, which is expected to impact the growth of the market under study. In the United States, a considerable amount of funding for water supply infrastructure development is sourced from the public sector. Consequently, variations in economic growth could constrain the government's ability to invest in new projects or technologies, leading to an unfavorable environment for the market's expansion.
US Water Meter Market Trends
Fast-Paced Development of Water Infrastructure to Drive Market Growth
- Over the years, the United States has been among the leading spenders on adopting advanced technologies. This trend is also visible in water management, as the country has been among the early adopters of water metering solutions and has also been among the leading countries in terms of the adoption of smart meters.
- In recent years, the country's investment in water supply infrastructure has grown significantly. For instance, according to the data provided by the US Census Bureau and St. Louis Fed, in 2023, construction spending on water infrastructure in the United States reached over USD 27 billion. This category covers the construction, repair, and maintenance of all the infrastructure used to move and treat water. With the demand for water increasing across residential and commercial verticals, the value is anticipated to grow further.
- Several new water supply and water management projects have been assigned by the US government and individual states, which is also creating a favorable outlook for the growth of the market studied. For instance, in May 2024, the government announced an investment of USD 320 million for tribal domestic water infrastructure. The government aims to fund projects for tribal households or communities that do not have reliable access to clean drinking water and other domestic water supplies.
- In February 2024, as part of the Investing in America tour, the government announced that almost USD 6 billion would be invested to improve water and wastewater infrastructure. The Infrastructure Act will invest over USD 50 billion in upgrading America's water infrastructure, making it the largest clean water investment in US history.
- Apart from the growing investments in water infrastructure, the country is also witnessing rapid growth in the development of supporting infrastructure. For instance, recent years have witnessed notable growth in the expansion of the LoRaWAN network across states like Phoenix, Atlanta, Austin, Miami, Charlotte, and Portland, providing vendors offering solutions such as smart meters with the required infrastructure to wirelessly and economically connect a variety of IoT sensors to the cloud without having to build communications infrastructure.
- The adoption of cloud services in the utilities sector has also increased significantly. According to Amazon Web Services (AWS), in the past two years, industry leaders such as Xylem, Neptune, Innovyze, and Badger have developed innovative solutions using cloud technology like AWS and delivering software-as-a-service (SAAS) solutions. Such trends are anticipated to continue to support the growth of the market studied during the forecast period.
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Smart Water Meters to Hold Major Market Share
- Smart metering technology is fast becoming an essential component of advanced metering infrastructure owing to its capability to measure and record data on various parameters, including water usage, accurately and in real time. Unlike traditional water meters, smart meters provide automated readings that are transmitted to utility companies through advanced communication networks for billing and analysis purposes.
- The United States is anticipated to remain an important market for smart water meters owing to its higher penetration of advanced tech solutions, factors such as growing consumer awareness, and a supportive government outlook. In recent years, the US government has taken several initiatives to promote water conservation across different sectors.
- The smart meter segment’s growth is also supported by the availability of a strong communication network required to support smart water metering infrastructure. For instance, Ethernet Ltd, a provider of low-power wide area networks, has its LoRaWAN network in the United States, covering around 550 cities.
- The United States is also among the major countries in terms of adoption of 5G services. According to the Ericsson Mobility Report, by 2028, North America is expected to have over 405 million 5G subscriptions. For instance, AT&T, one of the leading cellular service providers in the United States, offers 5G services that cover over 285 million people nationwide. With the footprint and adoption of 5G anticipated to grow significantly during the forecast period, it is anticipated to bring more opportunities in the segment by facilitating a faster and latency-free network.
- The growing number of smart metering projects being announced across different states is also driving the demand for smart water meters in the United States. For instance, in September 2023, the installation of 140,000 smart water meters for business and residential customers was announced by the Sewerage and Water Board of New Orleans. These advanced meters will enhance the accuracy of metering and billing processes while also enabling the Board to detect leaks more effectively through frequent meter readings.
- Similarly, in June 2023, Newport News Waterworks, Virginia, announced the completion of the milestone of installing more than 104,000 AMI meters, which got the company to about the 80% mark.
US Water Meter Industry Overview
The US water meter market is fragmented, with major players like Zenner USA Inc., Sensus USA Inc. (Xylem Inc.), Badger Meter Inc., Honeywell International Inc., and Carlon Meter Inc. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantages.
- April 2024: The US Army Corps of Engineers and Ascension Parish announced a groundbreaking ceremony to celebrate the start of the Ascension Parish Water Meter Replacement Project. The project will replace over two thousand water meters across the city of Donaldsonville, Louisiana. A USD 4.5 million construction contract was awarded to remove and replace existing manually read water meters with remotely read water meters. A vital step to improve water infrastructure for citizens and businesses is the Ascension Parish Water Meter Replacement Project. This initiative will facilitate the process of reading water meters by replacing more than 2000 manually read water meters with remotely read meter technology to increase accuracy and ensure greater efficiency.
- January 2024: Badger Meter completed the acquisition of specific remote water monitoring hardware and software from Trimble. This includes the Telog brand of RTUs (remote telemetry units) and Trimble Unity Remote Monitoring software. This acquisition enhances Badger Meter's offerings with real-time monitoring solutions designed for distributed data collection in various sectors such as water, wastewater, stormwater, and environmental water monitoring.
US Water Meter Market Leaders
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Zenner USA, Inc.
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Sensus USA Inc. (Xylem Inc.)
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Badger Meter, Inc.
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Honeywell International Inc.
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Carlon Meter Inc.
*Disclaimer: Major Players sorted in no particular order
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US Water Meter Market News
- November 2023: TWW declared the commencement of a USD 20-million initiative aimed at replacing 63,034 water meters within its five-municipality network. With the implementation of the new two-way communicating water meters, also known as smart meters, TWW meter readers will have the capability to remotely access and read these meters. This advancement will significantly reduce the number of estimated water bills.
- September 2023: Honeywell revealed that quantum computing hardware encryption keys are incorporated into smart utility meters to safeguard end-user data from growing cyber risks. To enhance reliability and confidence in the digitalized energy industry, the organization will utilize Quantinuum's Quantum Origin technology. The upgraded security utility meter sets a new standard in data breach protection by guaranteeing the upkeep of natural gas, water, and electricity infrastructures for both residential and commercial use.
US Water Meter Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute Products
- 4.2.5 Degree of Competition
- 4.3 Industry Value Chain Analysis
- 4.4 Impact of COVID-19 Aftereffects and Other Macroeconomic Factors on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Supportive State Regulations and Growing Awareness of the Wastage of Water
- 5.1.2 Fast-Paced Development of Water Infrastructure
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5.2 Market Challenges
- 5.2.1 Costs Involved with Installation by Utility Providers and Security and Integration Challenges
6. MARKET SEGMENTATION
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6.1 By Type
- 6.1.1 Smart Water Meter
- 6.1.2 Basic Water Meter
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles*
- 7.1.1 Zenner USA Inc.
- 7.1.2 Sensus USA Inc.
- 7.1.3 Badger Meter Inc.
- 7.1.4 Honeywell International Inc.
- 7.1.5 Carlon Meter Inc.
- 7.1.6 Master Meter Inc.
- 7.1.7 Metron-Farnier Inc.
- 7.1.8 Muller Systems LLC
- 7.1.9 Neptune Technology Group Inc.
- 7.1.10 Kamstrup Water Metering LLC (Kamstrup A/S)
- 7.1.11 DIEHL Metering LLC USA (DIEHL Stiftung & Co. KG)
8. FUTURE OUTLOOK OF THE MARKET
** Subject To Availablity**Subject to Availability
US Water Meter Industry Segmentation
Water meters are devices used to measure the quantity/volume of water passing through a supply pipeline/outlet. This may include the primary water supply pipeline for an entire facility or a sub-zone, like a refrigeration/boiler process. Measurements can be made in units, including cubic feet or gallons.
The US water meter market is segmented by type of meter (smart water meter and basic water meter). The market sizes and forecasts are provided in terms of volume (Units) for the above segment.
| By Type | Smart Water Meter |
| Basic Water Meter |
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US Water Meter Market Research FAQs
How big is the US Water Meter Market?
The US Water Meter Market size is expected to reach 23.96 million units in 2024 and grow at a CAGR of 4.58% to reach 29.97 million units by 2029.
What is the current US Water Meter Market size?
In 2024, the US Water Meter Market size is expected to reach 23.96 million units.
Who are the key players in US Water Meter Market?
Zenner USA, Inc., Sensus USA Inc. (Xylem Inc.), Badger Meter, Inc., Honeywell International Inc. and Carlon Meter Inc. are the major companies operating in the US Water Meter Market.
What years does this US Water Meter Market cover, and what was the market size in 2023?
In 2023, the US Water Meter Market size was estimated at 22.86 million units. The report covers the US Water Meter Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the US Water Meter Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Water Meter Industry Report
Statistics for the 2023 US Water Meter market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Water Meter analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
US Water Meter Market Report Snapshots
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