Ultrasonic Flow Meter Market Overview
An ultrasonic flow meter, also known as non-intrusive doppler flow meter, is used to measure the velocity of fluids flowing in a pipe. Ultrasonic flow meter uses sound wave as a medium to measure the velocity of the fluid. However, ultrasonic flow meter can’t be used to measure of drinking water or distilled water as ultrasonic flow meter requires bubbles or particulates in the flow. Ultrasonic flow meter is used in many industries such as oil & gas, water and wastewater, power generation, food and other industries.
Market Size & Forecast
Global ultrasonic market is anticipated to grow at a remarkable compound annual growth rate (CAGR) of 7.1% over the forecast period 2017-2024. Further, global ultrasonic flow meter market stood at valuation of around USD 6.2 Billion by the end of 2016 and is expected to reach at a valuation of around USD 8.8 Billion by the end of year 2024.
In terms of region, global ultrasonic flow meter market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Europe accounted for the largest market in ultrasonic flow meter and is estimated to capture 30% share of the overall global ultrasonic flow meter market share in 2016. Furthermore, Asia Pacific region is projected to grow at modest compound annual growth rate (CAGR) of 5.6% over the forecast period. Development of new oil & gas industries and increasing demand for power and industrialization in developing economies of Asia Pacific region are some major of the factors which have propelled the demand for ultrasonic flow meter in this region.
Middle East & Africa region is anticipated to witness a remarkable growth in near future owing to development of new oil & gas refineries in is expected to impel the demand for ultrasonic flow meter in this region. CLICK TO DOWNLOAD SAMPLE REPORT
Market Segmentation
Our-in depth analysis of the global ultrasonic flow meter market includes the following segments:
By Product
- Wall Mount Ultrasonic Flow Meter
- Handheld Ultrasonic Flow Meter
- In-Line Ultrasonic Flow Meter
- Ultrasonic Doppler Flow Meter
- Clamp-On Ultrasonic Flow Meter
- Portable Ultrasonic Flow Meter
By Number of Paths
- 3-Path Transit time
- 4- Path Transit time
- 5- Path Transit time
- 6 or More Path Transit Time
By Application
- Oil & Gas
- Water & Wastewater
- Power Generation
- Chemical
- Food & Beverage
- Pharmaceutical
- Metals and Mining
- Pulp & Paper
By Region
Global ultrasonic flow meter market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers & Challenges
Development of innovative ultrasonic flow meters is a key reason which is driving the growth of global ultrasonic flow meter market. Additionally, the manufacturers of ultrasonic flow meter are developing advanced ultrasonic flow meter such as hybrid ultrasonic flow meters, portable ultrasonic flow meter and other such products. Further, this development of advanced ultrasonic technologies is expected to foster the growth of global ultrasonic flow meter market in near future.
Developing countries such as India, China, Brazil and Russia are witnessing rapid developments such as urbanization, industrialization and power sector. Such developments include the development of new oil & gas refineries, chemical industries and power generation are anticipated to increase the demand for ultrasonic flow meter in near future. Furthermore, development of new water & wastewater industries is expected to fuel the demand for ultrasonic flow meter. This rising demand of ultrasonic flow meter in water and wastewater industries can be attributed to need of ultrasonic flow meter to determine the characteristics of water flowing through the pipelines of water & wastewater industries.
However, availability of alternative technologies in flow meter sector and rising adoption of modern flow meters over traditional flow meters is expected to hamper the growth of global ultrasonic flow meter market in near future.
Top Featured Companies Dominating the Market
- Asea Brown Boveri Ltd.
- Company Overview
- Key Product Offering
- Business Strategy
- SWOT Analysis
- Financials
- Badger Meter Inc.
- Emerson Electric Co.
- Emerson Process Management
- Faure Herman SA
- General Electric
- Hach/Marsh McBirney Inc.
- Honeywell International Inc.
- Index Corporation
- Invensys Process Systems
- Rockwell Automation Inc.
- Siemens AG
- Teledyne Isco Inc.
- Yamatake Co.
- Yokogawa Electric Co.
