US Water Meter Market Size (2024 - 2029)

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 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.