Ultrasonic Flow Meter Market Study Reveals Growth Factors and Competitive Outlook for Future
- Upgradation and Modernization of Refineries to Propel Demand for Ultrasonic Flow Meters
In oil refineries, ultrasonic flow meters are widely used, particularly in crude oil metering. During its motion from extraction to manufacturing plant, the need to measure crude oil at different stages drives demand for ultrasonic flow meters. In addition, current oil refineries are progressively focused on upgrading and upgrading refineries, resulting in increasing demand for ultrasonic flow meters. Developing countries around the world are increasingly investing in refinery growth. For example, EIL, BPCL, HPCL and IOC have announced the development of India's largest refinery on the west coast costing $30 billion. Rising capability of refineries is probable to increase demand for ultrasonic flow meters in developing nations.
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Availability of Broad Range of Flow Meters to Impact Ultrasonic Flow Meter Market
The accessibility of a broad spectrum of flow meters used across different sectors is one of the main variables affecting the development of the ultrasonic flow meter industry. In addition, companies in different sectors using traditional flow meters avoid taking the potential danger and switching to the recent flow meter technology. This approach of producers restricts ultrasonic flow meter acceptance and development. In the ultrasonic flow meter industry, however, companies are focused on demonstrating the advantages of using ultrasonic flow meters across sectors.
Factors Restraining the Market Growth:
- High cost of installation
The initial high costs of installation of ultra flow meter are expected to hinder the growth of the market during the forecast period. Furthermore, the lower adoption rate as compared to traditional meters is expected to pose challenges for the market.
Market Segmentation 2019-2029:
The Ultrasonic Flow Meter Market is segmented on Implementation Type, Measurement Technology, Number of Paths, End user, and Regional basis.
- Clamp on
- Transit time
Number of Paths
- 1 Path Transit-Time
- 2 Path Transit-Time
- 3 and Above Path Transit-Time
- Oil and Gas
- Power Generation
- Water and Wastewater
Focused regional forecasts and analysis explore the future opportunities:
- North America
- Global ultrasonic flow meter competitive environment is expected to be moderate over the period ranging 2019 - 2029 by virtue of limited manufacturers operating in this industry
- The market competition is expected to be on the basis of new product development and product pricing.
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Major Market Players:
ELIS PLZEN a. s., Honeywell International Inc., Schneider Electric., Cameron Measurement Systems, Emerson Daniel, Endress+Hauser Management AG, KROHNE Group, Siemens AG, Titan Enterprises Ltd.
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