Venturi Tubes Market Research: 2032
The Global Venturi Tubes Market was valued at $716.7 million in 2020, and is projected to reach $1.6 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032.
A venturi tube is a device with a convergent inlet connected to a cylindrical throat. The cylindrical throat is connected to a conical expanding section called the divergent exit. The principle of the method of measurement is based on the installation of a venturi tube into a pipeline in which a fluid is running full. A static pressure difference exists between the upstream section and the throat section of the venturi tubes. Whenever, the device is geometrically similar to one on which direct calibration has been made, the conditions of use being the same, the flowrate is determined from the measured value of this pressure difference and a knowledge of the fluid conditions.
Venturi is suitable for measuring liquids, gases, or steam flow, as it offers no sharp edge protrusions into the flowing stream, and hence useful in accurate flow measurement of any fluid containing suspended solids. This feature can be used as an alternative for flow nozzle, thus increasing the demand for the market. Easy installation and cost efficiency causes an upward trend in the growth of the venturi tubes industry.
In addition, the venturi tube industry is operating in its growth phase and it is expected to explore significant growth opportunities during the forecast period. The use of the venturi tube is highly favorable in the process industries. Also, the government from various geographies is making the use of venturi tubes mandatory due to various advantages associated with them. Water and wastewater, oil & gas, chemical, power generation, and pulp & paper are some of the major end-users. Therefore, factors such as increase in number of initiatives to build safe water management infrastructure, rise in industrial output, and surge in energy needs majorly boost the demand for venturi tubes which is further helping in expansion of venturi tubes market size.
By Product Type:
In 2022, the traditional segment held the highest market share in 2022, accounting for more than two-thirds of the venturi tubes market revenue, and is estimated to maintain its leadership status throughout the forecast period. Standard venturi tubes are economical and easy to interpret. In addition, increase in need for efficient use of water management is expected to positively influence use of standard venturi tubes in developing regions, owing to its low initial costs. However, smart segment is expected to grow at a highest CAGR owing to growth in need for efficient water management has increased the demand for smart venturi tubes from private as well as public utility providers. Smart venturi tubes can be equipped with automatic meter reading technology (AMR), which is capable of providing accurate metering data for analysis purposes. This eliminates the requirement for physically recording meter readings, thereby reducing the operating cost of utilities.
Increase in demand from the municipal sector, rise in textile production, and surge in oil & gas extraction activities are leading to huge wastewater generation across the globe. Venturi tubes are increasingly used in these industries to treat wastewater thereby significantly contributing to the overall market growth. On the other hand, process automation is one of the recent venturi tube market trends observed due to the need of mass manufacturing. This creates a need for accurate flow measuring tools to undertake efficient manufacturing processes; making venturi tubes an ideal tool. Therefore, increase in industrial production across the globe is expected to drive the venturi tubes market growth.
In each end use industry, the use of venturi tube is specified due to which there is a need of different venturi tube in each industry. Currently, the market is lacking in the customized manufacturing of venturi tube which restrains the growth of global venturi tube market. Nevertheless, the venturi tubes market is likely to be developed by technological development in the key regions like North America and Asia-Pacific.
By Distribution Channel:
The offline segment held the highest market share in 2022, accounting for lesser than three-fifths of the venturi tubes market, and is estimated to maintain its leadership status throughout the forecast period. Rise in population and rapid industrialization have significantly increased water demand throughout the globe. As sources of fresh water are limited, rise in demand has created a need for efficient water management. Thus, increase in awareness about efficient water management has led to rise in use of venturi tubes as they play a crucial role in reducing end user wastage of water.
Furthermore, rapid urbanization has significantly increased domestic demand for water in major cities, thereby creating water stress. Hence, to meet increasing domestic water demand and reduce wastage of water, many local authorities are focusing on installation of venturi tubes. For instance, in India, the Municipal Corporation of Greater Mumbai is expected to significantly increase the number of venturi tubes in the coming years and also the venturi tubes manufacturers who possess certificate of performance, life cycle and endurance issued by Fluid Control research Institute, India. Thus, increase in involvement of local authorities is positively influencing the offline market.
However, the online segment is expected to grow at a highest CAGR owing to forecast period Increase in cost of water and rise in awareness regarding efficient use of water has led to rise in use of venturi tubes. Growth in internet penetration has significantly increased the number of e-commerce platforms. Thus, more and more companies are now offering their venturi tubes through online distribution channels. Rise in number of residential and commercial end users has further led to rise in demand for venturi tubes.
Furthermore, the ease of buying venturi tubes of various brands from a single platform and benefits such as fast delivery and discount on bulk orders has increased popularity of online platforms for distribution of venturi tubes. Amazon.com, Inc., Moglix.com, and IndiaMART are some of the major online distributors of venturi tubes. Extensive use of venturi tubes in developed countries and its increasing adoption in emerging countries is expected to fuel demand for venturi tubes in the coming years.
Furthermore, increase in popularity of online distribution platforms throughout the globe is expected to boost the online venturi tubes distribution market. Moreover, Smart venturi tubes or IoT meters offer higher accuracy in data. It provides accurate readings for fluids, gas, or any liquid that flows through it. These devices are efficient in providing accurate real-time data for evaluation. They are also capable of providing feedback as well as alternative measures to be taken in real-time. This helps in lowering costs that are incurred due to damages of any sort.
These meters can be installed in all weather conditions and require low maintenance owing to that. They are less likely to be affected by viscosity, temperature, and concentration. The rise in IoT-based devices due to urbanization and electrification activities acts as a driving factor for smart venturi tubes market. Smart venturi tubes have been around in the industry for several decades.
However, with increasing technological advancements and automation in several industries, there has been an increase in the technologies for smart venturi tubes as well. For improving accuracy, even a small change in configuration or model increases the cost of the product. This technological advancement leads to increased costs per unit. This raises overall product cost which discourages market growth for the smart venturi tubes market.
By End User Industry:
The oil & gas segment accounted for the largest share in 2022, contributing nearly two fifths of the Venturi tubes market revenue, and is projected to maintain its lead position during the forecast period. Venturi tubes provide precise and accurate measurements of fluid flow rates. In industries like oil and gas where accurate flow measurements are crucial for various operations and billing purposes, Venturi tubes are preferred due to their reliability. In addition, venturi tubes are versatile and can handle various types of fluids, including corrosive or abrasive substances often found in the oil and gas industry. Their design also makes them less prone to wear and tear, enhancing their reliability over time.
However, the water & wastewater segment is expected to grow at a highest CAGR during the forecast period. Precise measurement of water flow rates is crucial in water treatment plants and wastewater management facilities. Venturi tubes provide accurate flow measurement even with varying flow rates, making them valuable for monitoring and controlling water movement in these systems. Increase in industrial automation has led to an increase in flow measurement equipment. This also leads to improvement in technology and innovative product offerings. The same goes for electromagnetic venturi tubes. Since they offer higher accuracy in data with every development, they are expected to be improved more and more with every technological change. Thus, this offers a wide opportunity for smart venturi tubes market.
Segmental Overview
The venturi tubes market is segmented on the basis of product type, fluid type, distribution channel and region. By product type, the market is divided into standard and smart. By end user industry, the market is divided categorized into water & wastewater, chemical, oil & gas and others. By distribution channel, it is divided into online, and offline. Region wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2022, accounting for the highest share of the venturi tubes market in 2022, and LAMEA is anticipated to grow at the highest CAGR during the market forecast period.
By Region:
Asia-Pacific held the highest market share in terms of revenue in 2022, accounting to nearly half of the global Venturi tubes market revenue The manufacturing sector in countries such as India and China has witnessed substantial growth in the past few decades, owing to availability of workforce and low-cost manufacturing. Furthermore, Asia consists of China and India, which are two most populated countries in the world. Thus, high population and rapid growth of industries has increased demand of water for both domestic and industrial purposes. This has increased use of venturi tubes for efficient water management.
Furthermore, agriculture is a major industry in many countries of the region. Countries such as China, India, Bangladesh, Thailand, Vietnam, Indonesia, and Japan are leading producers of water intensive crops such as rice, this has increased use of venturi tubes by local authorities to monitor use of water for agriculture purposes. However, LAMEA is expected to grow at a highest CAGR as Latin America is a highly urbanized region and has a population of more than 400 million people. Agriculture is a major industry in Latin America, owing to availability of fertile land.
According to the Food and Agriculture Organization of the United States, water extraction in Latin America has rapidly increased in past few years and agricultural activities use as much as 70% of water in Latin America. Hence, to cope with the increasing demand of water governments in major Latin American countries such as Brazil and Chile are focusing of efficient water management, which is expected to boost use of venturi tubes. Middle East is emerging as a major tourist destination, thereby creating a demand for hospitality buildings such as hotel and resort. Furthermore, the Middle East experiences low rainfall making efficient water management a necessity. These factors are expected to boost usee and promotes growth during venturi tubes market forecast period in the Middle East.
Competition Analysis
Competitive analysis and profiles of the major players having significant venturi tubes market share are ADVANCED TECHNOCRACY, ABB, SIEMENS AG, Emerson Electric Co, Honeywell International Inc., Yokogawa Electric Corporation, Omega Engineering, Inc., Badger Meter, Inc., Fuji Electric Co., Ltd. and PARKER HANNIFIN CORP. Major players have adopted product launch, collaboration, and acquisition as key developmental strategies to improve the product portfolio of the venturi tubes market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the venturi tubes market analysis from 2020 to 2032 to identify the prevailing venturi tubes market opportunity.
- The market research is offered along with information related to key drivers, restraints, and venturi tubes market opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the venturi tubes market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global venturi tubes market trends, key players, market segments, application areas, and market growth strategies.
Venturi Tubes Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 1.6 billion |
 Growth Rate | CAGR of 6.5% |
 Forecast period | 2020 - 2032 |
 Report Pages | 188 |
 By Product Type |
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 By Distribution Channel |
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 By End User Industry |
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 By Region |
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 Key Market Players | Badger Meter, Inc., Yokogawa Electric Corporation, Omega Engineering, Inc., ADVANCED TECHNOCRACY, ABB, PARKER HANNIFIN CORP, SIEMENS AG, Honeywell International Inc., Emerson Electric Co., Fuji Electric Co., Ltd. |
Analyst Review
The water utilities have shown a strong desire to implement venturi tubes, which have evolved through time to assist consumers and service providers in understanding the quantity of water consumed. Precision of this technology, billing processes have been simplified and utilities have been able to assess water use and waste. Several types of venturi tubes have acquired a good market share in the global market over the years as a result of their relevance in conserving water, energy, and lowering water bill expenditures.
Governments are thus taking steps to address the issue by increasing awareness and installing venturi tubes to determine the quantity of water necessary for various applications as well as any waste and preservation strategies. Venturi tubes are also being used by a growing number of users throughout the world since they assist to optimize bills and save energy and resources. Smart venturi tubes were introduced as a result of the seamless integration of new technology, which has enhanced the penetration of these products in recent years.
Key factors driving the growth of the Venturi tubes market include an increase in consumption of consumer electronics and electrical devices, growth in focus on product customizations for the automotive products, and growth of the renewable energy industry.
The latest version of the Venturi tubes market report can be obtained on demand from the website.
The Venturi tubes market size was valued at $716.7 million in 2020.
The Venturi tubes market size is estimated to reach $1.6 billion by 2032, exhibiting a CAGR of 6.5% from 2023 to 2032.
The forecast period considered for the Venturi tubes market is 2023 to 2032, wherein, 2022 is the base year, 2023 is the estimated year, and 2032 is the forecast year. The market is also analysed historically between 2020 to 2021.
Oil & gas industries is the largest market for Venturi tubes market.
Key companies profiled in the Venturi tubes market report include ADVANCED TECHNOCRACY, ABB, SIEMENS AG, Emerson Electric Co, Honeywell International Inc., Yokogawa Electric Corporation, Omega Engineering, Inc., Badger Meter, Inc., Fuji Electric Co., Ltd. and PARKER HANNIFIN CORP.
The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of sales), various strategies, and recent developments.
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