The global ultrasonic flowmeter market reached a value of US$ 1.3 Billion in 2019. An ultrasonic flowmeter is a device that is used to measure the quantity of a liquid or gas that is moving through a pipe. The device measures the fluid velocity which further calculates the motion of gas or any liquid flowing. The velocity of the material flowing is measured with the help of ultrasonic transducers. Along with liquid, one can also measure the velocity of molten sulphur, chemicals, cryogenic liquids and even gases. This device generally works on three different principles namely transit time difference, doppler effect principle, and open channel principle. Ultrasonic flowmeters are mainly used in industries like wastewater, chemical, food and beverages, mining, metals, pharmaceuticals, power generation, paper and pulp industry, etc.
The accuracy of the ultrasonic flowmeters in taking measurements and calculating the velocity of the fluids is a key factor that is driving its demand. The high efficiency and accuracy of ultrasonic flowmeters can be attributed to the fact that they do not suffer mechanical wear and tear, do not cause a drop in the pressure of the fluid flowing through the pipe, and can be used for bidirectional measurements as well. Ultrasonic flowmeters are playing a major role in making bidirectional measurements that can be done with clamp-on flowmeters. Another major factor that is driving the demand of ultrasonic flowmeters is their non-invasive nature. These flowmeters do not require to come in contact with the fluid or involve cutting of the pipe in order to take the measurements. They are highly accurate, reliable and require low-maintenance. Moreover, the rising number of refineries catalyzed by increasing energy demand is also driving the demand of ultrasonic flow meters. Looking forward, the market value is projected to reach US$ 2.1 Billion by 2025, expanding at a CAGR of 8.4% during 2020-2025.
This report provides a deep insight into the global ultrasonic flowmeter market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the ultrasonic flowmeter industry in any manner.
Key Questions Answered in This Report:
The global ultrasonic flowmeter market was worth around US$ 1.3 Billion in 2019.
According to the estimates by IMARC Group, the global ultrasonic flowmeter market will exhibit strong growth during the next five years.
Leading manufacturers are incorporating advanced technologies to enhance ultrasonic flowmeter performance and measurement in continuous industrial processes, which is acting as one of the significant trends in the market.
The escalating energy demand is resulting in the rising number of refineries around the world, which, in turn, is bolstering the market growth.
The market has been negatively impacted due to the spread of the coronavirus disease (COVID-19) and consequent lockdowns imposed by governments of several countries that have led to the closure of various industrial units and disrupted supply chains.
Based on the product type, the market has been divided into spool piece, insertion, clamp-on and others.
On the basis of the number of paths, the market has been classified into 3-path, 4-path, 5-path, and 6 or more path transit time.
The market has been analyzed on the basis of the technology type into transit time - single/dual path, transit time - multipath, doppler and hybrid.
On the basis of the distribution channel, the market has been categorized into direct sales, independent representatives, distributors and online.
Based on the application, the market has been segregated into natural gas, non-petroleum liquid, petroleum liquid and others.
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa.
Leading industry players are Asea Brown Boveri Ltd., Badger Meter Inc., Emerson Process Management, (Emerson Electric Co.), Faure Herman SA, General Electric Company, Hach (Danaher Corporation), Honeywell International Inc., Index Corporation, Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, Teledyne Isco Inc., Yamatake Co. and Yokogawa Electric Co.
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