The advent of smart water metres is accelerating the worldwide water metre business. Increased government programmes and supplementary actions by renowned corporations are also encouraging market expansion. For example, as part of the Metering Programme begun by Southern Water in Worthing, England, around 450,000 water metres were installed across the United Kingdom's Kent, Sussex, Hampshire, and Isle of Wight districts. The installation of these water metres was finished late in the afternoon. Rapid urbanisation is another key factor driving the growth of the water metre industry. According to the United Nations, cities house 55 percent of the world's population in 2018, with that percentage expected to climb to 68 percent by 2050. Additionally, increased demand for new water metre replacement is likely to support market growth.
The growing trend of adopting plastic-based water meters and components is expected to uplift growth of the global water meter market. Also, rising awareness regarding water conservation and prevention is expected to positively impact growth of the market.
Because of the high demand for water metres in the region, North America is expected to maintain its dominance in the global water metre market. Furthermore, there is a growing demand for new and sophisticated metres in order to improve efficiency and integrate cutting-edge technologies.
In October 2017, Diehl Stiftung & Co. KG and Abunayyan Holding inked a strategic collaboration agreement for ultrasonic water metre technology.
Water metres are devices that measure how much water is consumed. Water metres simply measure the amount of water consumed by commercial and residential building units that are supplied by a public water supply. They are also used to inspect the water level in underground water supplies for any damage, contamination, or problems that may arise as a result of water usage. There are many different types of water metres, and some of the more technologically advanced water metres use sensors to detect water pressure and flow. A mechanical metre is one of the most affordable and dependable metres on the market. Stainless steel water metres are among the most popular types. Mechanical metres are straightforward to maintain and remain operational. Some of these metres also display flow rates and temperature alerts.
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