United States (US) Water Meter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)

United States (US) Water Meter Market is segmented by type of meter (basic meters and communicating smart meters).

Market Snapshot

United States Water Meter Market Overview
Study Period: 2020-2027
Base Year: 2021
CAGR: 4.6 %

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Market Overview

The United States (U.S.) water meter market is estimated to register a CAGR of 4.6% from 2022 to 2027. The market covers the range of meters available in the U.S., according to the type of building or accommodation, complying with the laws set by the government. Various measures are taken to manage water efficiently, and water meters play a vital role.

  • The U.S. government and its governing bodies ensure sustainable water use throughout the country. The government mentions the guidelines for water meter installation and the choice of water meters for the space and utility. For instance, according to the policy stated by the U.S. Department of Energy (DOE), by 1st October 2022, all federal buildings should be metered to reduce the cost of water and the purposes of efficient use. It directed the federal agencies to meter the buildings for water as per the Energy Act of 2020, codified in 42 U.S.C. 8253(e).
  • Such measures beginning from the federal facilities, extend to residential complexes too. According to the Environmental Protection Agency in the U.S., more than 300 gallons of water per day is used by an average American family at home, out of which 70% account for indoor usage. Such growing usage requires intelligent and efficient monitoring of water that could at least keep the government informed about the water consumption and, at most, manage the users efficiently.
  • This need for intelligent water management gave rise to smart water meters that monitor and regulate water usage through intelligent functions. The increase in smart city projects and the growing popularity of the Internet of Things (IoT) contributed to making people for intelligent water management, which deploys intelligent sensors and updates the real-time data remotely. The utility water meters in a building are unnecessary for all regions. Still, having at least one master utility water meter for a building with multiple units is mandatory. The Texas law gave each user the option of having either one utility meter or submeters to monitor individual water consumption.
  • New-age technologies centered on preserving water plays a vital role in determining a brand's focus in the market. The smart leak detection features help estimate a potential water loss situation much before the damage to the pipeline infrastructure of a building is done, and the water is lost. Similarly, mobile meters, with IoT connectivity, offering Automatic Meter Reading (AMR) and Advanced Meter Infrastructure (AMI) are the future of the industry in the region, owing to the growing popularity of the concepts of IoT sensor-based devices.
  • The COVID-19 pandemic changed user behavior across the country. The work-from-home policies adopted by the companies shifted the water usage to residential areas more than the commercial complexes and buildings. Using a smart meter also helped calculate the real-time consumption to reallocate the water to the required locations accordingly, to keep the population satisfied amidst the situation. The requirement in chief areas like hospitals was also met through active observation and allocation for consumption. This highlighted the practical and environmental benefits of regular and smart water meters.

Scope of the Report

Water meters help determine water usage for personal and commercial purposes. The meter gives water usage in different units and is used for further analysis, be it the usage caps or expenses per use. United States (US) Water Meter Market is segmented by type of meter (basic meters and communicating smart meters). The report also highlights the share of AMR and AMI-based Smart Water installation in the US, with significant projections and installation, and IoT and communication technologies in the water meter market (including Nb-IoT, LTE-M, etc.)

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Key Market Trends

Emphasis on Water Preservation to Drive the Market

  • Water Conservation is the need of the hour on the entire planet. The rampant population growth and various industries using water to meet the rising demand for products contribute to the increasing demand for water, leading to scarcity in various urban areas. The United States is no different, facing similar problems with the growing demand for water in different regions. According to worldbank.org, the urban population will account for 83% of the total population in 2020. This signifies the scope for improving the various modern systems and infrastructure supplying water to the urban population.
  • As per U.S. EPA (Environmental Protection Agency), the average family in the country wastes 380 gallons of water per week. Companies are offering leak detection through ultrasonic sensors for leak and consumption monitoring. Innovative solutions leveraging sensor integration are also introduced.
  • Various measures are taken to check water consumption by the U.S. government bodies. For instance, the EPA decreased its water intensity by 34.5% in the fiscal year 2021 compared to 2007. The body also has 27 signed water management plans that promise the best management policies in 30 facilities. Metering the water has been one of the suggestions made by the organization for checking water consumption and managing its use. Similarly, the water meters help manage water consumption by cooling towers for industrial or commercial use. The use of water meters will ensure the facilities dissipate a specific amount of water, promoting the use of meters and conserving water.
  • Adopting green building programs for new constructions promotes the use of smart water metering solutions. The government has also increased emphasis on green building concepts. For instance, the U.S. Green Building Council indicates points in the LEED Rating System, setting the baseline for indoor water consumption and similar goals, including 15.1 gallons for a clothes washer, 0.7 gallons for dishwasher, 6.15 minutes of fixture usage for shower (per compartment), etc., targeting a net reduction in water consumption by 10%
  • Such goals can be achieved through the latest advancements in water metering solutions that provide real-time water consumption, helping track the usage accordingly. The increase in smart cities and green building concepts will invite innovative water meter applications to tackle water scarcity and the increasing prices of potable water.
United States Water Meter Market Share

Growing Adoption of IoT and Connected Device in the US Will Drive the Market

  • The increasing adoption of smart devices demands data to act upon the water consumption, owing to the availability of smart water meters in the market. The country is looking forward to smart homes, appliances, and other connected options leveraging 5G network connectivity. The growing adoption of smart electric meters is one such indicator of the increasing awareness among the masses for conserving energy and resources and opting for economical metering solutions of energy resources.
  • Companies are offering a connected live feed of water consumption, one of the key features of modern-day IoT-powered and connected devices. For instance, [email protected] smart app by Diehl Metering offers statistical metrics on a smartphone app leveraging smart sensors and fixed-line networks, providing real-time data and alarm-based leak detection in their water meter solutions. This helps in predicting and fixing water leakage, contributing to water preservation.
  • The emergence of connected and smart building concepts will engage smart m=water meter solutions for individual space units to monitor water usage actively. According to the GSMA Intelligence, The forecast of new Internet of Things (IoT) connections in North America between 2018 and 2025 accounted for 1.4 billion connections by smart building segments. Such prospects promise growth in the demand for smart water meters and other connected appliances.
  • Constant innovations under the connected devices umbrella promote water metering adoption in the United States. For instance, StreamLabs Smart Home Water Monitor leak Detector is one such device. It offers leak detection using ultrasonic technology, with Wi-Fi compatibility, which sends real-time smartphone alerts. The system is compatible with smart home software, including voice assistants like Alexa and Google Assistant, and is battery operated. The introduction of more such devices and active adoption by the citizens will help the water metering and smart water metering market grow.
United States Water Meter Market Analysis

Competitive Landscape

The United States water meter market is highly competitive, with a limited number of players offering products in the market landscape. The companies provide utility and smart water meters, complying with the norms and regulations set by the U.S. government. The units of measurement and the functions comply with the laws approved under the certifications established by the government to maintain uniformity in operation.

  • March 2022 - Itron announced a contract with Consolidated Utility District (CUD) to deploy Temetra, the company's mobile meter data collection solution, along with its fixed network solution, upgrading the Advanced Meter Infrastructure (AMI), and providing capabilities, including active water leak detection, and consumer portals. The partnership will benefit more than 160,000 CUD customers across Rutherford County in central Tennessee, as CUD is equipped to improve customer service and operational efficiency.

Recent Development

  • May 2022 - Badger Meter announced their ModMAG M2000 Electromagnetic flow meter offered by the company with BACnet MS/TO Communication protocol. The meter also completed the BACnet Testing Laboratories (BTL) certification post rigorous testing. The certification assures smooth integration with the building management system (BMS), the first full-bore inline electromagnetic meter to achieve the BTL certification.
  • April 2022 - Itron introduces Partner Solution Marketplace, the company's online platform accommodating solutions from third parties, and Itron itself for its customers and prospects to improve their infrastructure and serve their customers better. Customers from various industries could better choose solutions for managing energy and other resources like water, appliances, solar generation, and electric vehicle charging. The platform will benefit the business with smart city and other management solutions.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumption And Market Defination

    2. 1.2 Scope of the study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Assessment of the Impact of Covid-19 on the Market

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power Of Suppliers

      2. 4.3.2 Bargaining Power Of Buyers

      3. 4.3.3 Threat Of New Entrants

      4. 4.3.4 Threat Of Substitutes

      5. 4.3.5 Intensity Of Competitive Rivalry

    4. 4.4 Industry Value Chain Analysis

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Supportive state regulations & growing awareness on the wastage of water due to lack of accountability

      2. 5.1.2 Supportive state regulations & growing awareness on the wastage of water due to lack of accountability

    2. 5.2 Market Challenges/Restraints

      1. 5.2.1 Costs involved with installation by utility providers & integration challenges

    3. 5.3 Assessment of the impact of COVID-19 (Key themes covered in the study include

    4. 5.4 Coverage on the share of AMR & AMI-based Smart Water installation in the US

    5. 5.5 Major projections & installation in the US

    6. 5.6 Coverage on the use of IoT & CommunicationTechnologies in the Water Meter Market (Nb-IoT, LTE-M, etc.)

  6. 6. MARKET SEGMENTATION - BY TYPE OF METER

    1. 6.1 Basic Meters

    2. 6.2 Communicating Smart Meters

  7. 7. COMPETITIVE INTELLIGENCE - KEY VENDOR PROFILES

    1. 7.1 Itron Inc.

    2. 7.2 Kamstrup A/S

    3. 7.3 Honeywell International Inc.

    4. 7.4 Badger Meter, Inc.

    5. 7.5 Diehl Stiftung & Co. KG

    6. 7.6 Sensus(Xylem)

    7. 7.7 AxiomaMetering

  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET FUTURE OUTLOOK

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Frequently Asked Questions

The United States (US) Water Meter Market market is studied from 2020 - 2027.

The United States (US) Water Meter Market is growing at a CAGR of 4.6% over the next 5 years.

Itron Inc., Kamstrup A/S, Honeywell International Inc., Badger Meter, Inc., Diehl Stiftung & Co. KG are the major companies operating in United States (US) Water Meter Market.

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