Ultrasonic Flow Meter Market worth USD 876.9 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Ultrasonic Flow Meter Market by Transducer Type (Spool Piece, Inline, Clamp-on, and Others), by Technology (Transit-Time, Doppler, and Hybrid), by End-User (Water & Wastewater Management, Oil & Gas, Chemical, Power Generation, Pharmaceuticals, Aerospace, and Others), by Region – Global Share and Forecast to 2027". The global ultrasonic flow meter market size is expected to grow from USD 650.7 million in 2020 to USD 876.9 million by 2027, at a CAGR of 5.1% during the forecast period. Ultrasonic flowmeters provide various advantages over other flowmeters, which drive their adoption in various end-use industries. They are non-invasive and non-destructive, which makes them ideal for applications with limited installation space. Clamp-on ultrasonic flowmeters, for instance, are used to measure flowrate at multiple points without drilling a pipe. Clamping requires less time for installation and less maintenance. As ultrasonic transducers are placed on the outside, they do not directly contact the fluid. This prevents clogging of transducers, often encountered in wastewater or process industries. In addition, they have high accuracy. Ultrasonic flowmeters provide an accuracy of 0.5%, which is critical in various industries such as chemical, oil & gas, power generation, and pharmaceuticals. As ultrasonic flowmeters are available in both Doppler and transit-time, users can always choose the right type of ultrasonic flowmeters that suit their needs.

Global Ultrasonic Flow Meter Market Segmentation

The ultrasonic flow meter market has been segmented into the transducer type, technology, end-users, and region.

• By Transducer Type (Spool Piece, Inline, Clamp-on, and Others)
• By Technology (Transit-Time, Doppler, and Hybrid)
• By End-User (Water & Wastewater Management, Oil & Gas, Chemical, Power Generation, Pharmaceuticals, Aerospace, and Others)
• By Region (US, Mexico, Canada, Germany, France, UK, Italy, Spain, China, India, South Korea, Japan, Southeast Asia, Australia, Saudi Arabia, Peru, South Africa, Qatar, UK, Nigeria, Israel, Brazil, Argentina)

Transit-time is estimated to hold the largest market share during the forecast period, by technology

On the basis of technology, the global ultrasonic flowmeter market is categorized into Transit-time, doppler, and hybrid. The transit-time segment was the highest contributor of 81.5% to the global ultrasonic flow meter market in 2020. It is expected to register a significant CAGR from 2021 to 2027. Transit time ultrasonic flow meters measure the difference taken by the transmitted ultrasonic beam to reach the second transducer. In a typical transit-time ultrasonic flowmeter, transducers function as alternative transmitting and receiving ends of sound energy and measure the transit time that the sound takes to travel between two transducers.

Developments in sensor technology used in ultrasonic flowmeters are expected to benefit this segment during the forecast period. Ultrasonic flowmeters with anti-bubble management are one such trend. Fuji Electric has a wide range of such transit time ultrasonic flowmeters with an anti-bubble measurement (ABM) system. The 32 bits microprocessor-based electronics allow high accuracy (±1%), a response time of 1 second or less, very good immunity to air bubbles (ABM system), and fluid pressure and temperature change. Thus, an increase in the accuracy of fluid measurement is expected to boost demand for transit time ultrasonic flowmeters.

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The Asia Pacific accounts for the largest market share in the ultrasonic flow meter market 2020

Based on the regions, the global ultrasonic flow meter market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific accounted for the highest market share of 41.8% in the global ultrasonic flow meter market and was anticipated to maintain its dominance throughout the forecast period. The Asia-Pacific ultrasonic flowmeter market is studied across China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. Industrialization in various Asian countries is presently driving the ultrasonic flowmeter market.

In Asia-Pacific, countries such as China, India, Japan, Indonesia, and Vietnam are expected to offer lucrative opportunities for the ultrasonic flowmeters market, owing to high industrial activities and rapid infrastructural expansion. In the oil & gas industry, there is still a high potential for oil & gas exploration, which would increase downstream oil & gas activities. For instance, in India, there has been a surge in auctioning of exploration blocks in Rajasthan wherein major oil & gas operators such as Vedanta, ONGC, and BPCL have secured oil exploration licenses. Further, ONGC has resumed its seismic survey in its Andaman offshore blocks in October 2020 and plans to intensify the exploration efforts in the coming days. Once the seismic survey is done, the next step is oil & gas exploration activity. Exploratory activities in India and China are expected to increase the production of oil refineries, thus augmenting demand for ultrasonic flowmeters during the forecast period.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the ultrasonic flow meter market. The global ultrasonic flowmeter market is highly fragmented with players such as Baker Hughes Company, Emerson Electric Co., Badger Meter Inc., Faure Herman, Fuji Electric Co. Ltd., Endress+Hauser AG, Honeywell International Inc., Krohne, Siemens AG, and Spectris PLC.

Browse complete report: https://www.marketstatsville.com/ultrasonic-flow-meter-market

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