Venturi Tubes Market to Reach $1.6 Billion, Globally, by 2032 at 6.5% CAGR: Allied Market Research

The rise in demand for water across the globe along with technological advancements in venturi tubes drive the growth of the venturi tubes market.

PORTLAND, Ore., Nov. 30, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Venturi Tubes Market by Product Type (Traditional and Smart), Distribution Channel (Online and Offline), and End User Industry (Oil And Gas, Chemical, Water And Wastewater, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global venturi tubes market was valued at $716.7 million in 2020 and is projected to reach $1,549.7 million by 2032, registering a CAGR of 6.5% from 2023 to 2032.

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Prime determinants of growth

Growth in concern toward efficient water management and rise in industrial sectors drive the growth of the venturi tubes market. However, high cost associated with venturi tubes restricts the market growth. On the contrary, growth in technological advancements is expected to present new opportunities in the coming years.

Report coverage & details:

The Traditional segment to maintain its leadership status throughout the forecast period

Based on product type, 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. Furthermore, a wide range of standard venturi tubes is available in the market, which increases its applicability. For instance, single and multi-jet venturi tubes are types of inferential meters that are suitable for use in residential buildings, commercial buildings, and small industries. Intellimeter Canada Inc. and Hebei Shanghong Venturi Tubes Technology Co., Ltd. are renowned providers of standard venturi tubes. Increase in the need for efficient use of water management is expected to positively influence the use of standard venturi tubes in developing regions, owing to its low initial costs. However, the smart segment is expected to grow at the highest CAGR owing to growth in the need for efficient water management, which 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 transferring metering data to central databases for billing and analysis purposes. This eliminates the requirement for physically recording meter readings, thereby reducing the operating cost of utilities. Furthermore, the ultrasonic and electromagnetic technologies of volume measurement are more accurate, less sensitive to flow variations, and suitable for use in areas with high water-suspended particles.

The offline segment to maintain its leadership status throughout the forecast period

Based on distribution channel, the offline segment held the highest market share in 2022, accounting for more 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, the rise in demand has created a need for efficient water management. Thus, increase in awareness about efficient water management has led to rise in the 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 the wastage of water, many local authorities are focusing on the 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 tube manufacturers that possess certificate of performance, life cycle, and endurance issued by Fluid Control Research Institute, India. Thus, increase in the involvement of local authorities is positively influencing the offline market.  However, the online segment is expected to grow at the highest CAGR during the forecast period due to increase in the cost of water and rise in awareness regarding the efficient use of water. Growth in internet penetration has significantly increased the number of e-commerce platforms. Thus, more companies are now offering their venturi tubes through online distribution channels. Rise in the 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 have increased the popularity of online platforms for the distribution of venturi tubes. Amazon.com, Inc., Moglix.com, and India MART are some of the major online distributors of venturi tubes. The extensive use of venturi tubes in developed countries and increase in its adoption in emerging countries is expected to fuel the demand for venturi tubes in the coming years. Furthermore, increase in the popularity of online distribution platforms throughout the globe is expected to boost the online venturi tube distribution market.

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The Oil & Gas segment to maintain its lead position during the forecast period

Based on 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 such as 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 the 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. 

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for 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 the two most populated countries in the world. Thus, high population and rapid growth of industries have increased the demand for water for both domestic and industrial purposes. This has increased the 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 the use of water for agricultural purposes. However, LAMEA is expected to grow at the 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 the availability of fertile land. According to the Food and Agriculture Organization of the U.S., water extraction in Latin America has rapidly increased in the past few years and agricultural activities use as much as 70% water in Latin America. Hence, to cope with the increasing demand for water, governments in major Latin American countries such as Brazil and Chile are focusing on efficient water management, which is expected to boost the use of venturi tubes. The Middle East is emerging as a major tourist destination, thereby creating a demand for hospitality buildings such as hotels and resorts. Furthermore, the Middle East experiences low rainfall making efficient water management a necessity. These factors are expected to boost the use of venturi tubes in the Middle East.

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Leading Market Players: -

• ADVANCED TECHNOCRACY
• ABB
• SIEMENS AG
• Emerson Electric Co.
• Honeywell International Inc.
• Yokogawa Electric Corporation
• Omega Engineering, Inc.
• Badger Meter, Inc.
• Fuji Electric Co., Ltd.
• PARKER HANNIFIN CORP.

The report provides a detailed analysis of the key players in the venturi tubes market. These players have adopted different strategies such as new product launches, expansion, and acquisitions, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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