The ultrasonic flow meter market is projected to reach USD 2.1 billion by 2024 from an estimated USD 1.5 billion in 2019, at a CAGR of 6.5%. The growth of this market is driven with the increase in imports of crude oil in India, rise in shale gas exploration activities in the US, and increasing green field investments in China.
The clamp-on segment, by implementation, is expected to be the largest market during the forecast period.
The clamp-on segment, by implementation, is estimated to be the largest market during the forecast period. Clamp-on ultrasonic flow meter measures the flow without any interruption in the process and the flow rate under challenging environmental areas like toxic and hazardous conditions inside the pipe, which is expected to drive its demand in the ultrasonic flow meter market which is expected to drive its demand in the ultrasonic flow meter market.
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The transit-time segment is expected to be the fastest growing segment of the ultrasonic flow meter, by measurement technology, during the forecast period.
The transit-time segment is expected to hold the largest market share during the forecast period because of its bi-directional and precise flow measurement advantages. This technology can be utilized for both natural gas and petroleum liquid. This technology comprises 80–85% of the market share globally. Oil & gas and water & wastewater industry demands precise flow measurement technologies in their process, which is driving the transit-time segment. Hybrid is an upcoming technology with the second largest market share in the ultrasonic flow meter market. This technology is the combination of both the transit-time & doppler. This technology is mainly used by the water & wastewater industry.
Report Objectives
- To define, describe, and forecast the market by implementation type, measurement technology, number of paths, end-user, and region
- To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market with respect to individual growth trends, prospects, and contribution of each segment to the market
- To analyze the market opportunities for stakeholders and details of the competitive landscape for market leaders
- To forecast the growth of the market with respect to the regions (Asia Pacific, Europe, North America, South America, and the Middle East & Africa)
- To strategically profile key players and comprehensively analyze their market rankings and core competencies
- To track and analyze the competitive developments such as contracts & agreements, expansions, new product developments, mergers & acquisitions, and partnerships in the market.
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Asia Pacific: The leading market for ultrasonic flow meter.
Asia Pacific is estimated to be the largest growing market for ultrasonic flow meters during the forecast period. The ultrasonic flow meter market has been segmented, by region, into Asia Pacific, Europe, the Middle East & Africa, North America, and South America. The growth of this region is primarily driven by increasing number of investments in the water & wastewater, energy and power, refining, chemicals, and industrial infrastructure activities in the developing economies such as China and India.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the ultrasonic flow meter market. Some of the key players in the ultrasonic flow meter market are Siemens (Germany), Danfoss (Denmark), Fuji Electric (Japan), Badger Meter (US), GE (US), Endress+Hauser (Switzerland), Honeywell (US), and KROHNE (Germany). The leading players are adopting various strategies to increase their shares in the ultrasonic flow meter market.
Key Questions addressed by the report:
- The report identifies and addresses key ultrasonic flow meter market, which would help various stakeholders such as utilities, process industries, power & energy associations, ultrasonic flow meter manufacturers, and dealers and suppliers to review the growth in demand.
- The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
- The report will help key players understand the strategies of their competitors better and make better strategic decisions.
- The report addresses the market share analysis of key players in the ultrasonic flow meter market, with the help of this, companies can enhance their revenues in the respective market.
- The report provides insights about emerging geographies for the market, and hence, the entire market ecosystem can gain a competitive advantage from such insights.
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