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Ultrasonic Flow Meter Market Projected to Reach $2.1 billion by 2024 | Leading key players are Siemens, Danfoss, Honeywell, Badger Meter

10-16-2020 01:36 PM CET | Energy & Environment

Press release from: MarketsandMarkets

Ultrasonic Flow Meter Market Projected to Reach $2.1 billion

According to the new market research "Ultrasonic Flow Meter Market by Implementation Type (Clamp-On and Inline), Measurement Technology, Number of Paths (1 Path Transit-Time, 2 Path Transit-Time, and 3 and Above Path Transit-Time), End-User, Region - Global Forecast to 2024" 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.

Browse 70 market data Tables and 34 Figures spread through 135 Pages and in-depth TOC on "Ultrasonic Flow Meter Market - Global Forecast to 2024"

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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.

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This research report categorizes the market based on implementation type, measurement technology, number of paths, end-user, and region
On the basis of implementation type, the market has been segmented as follows:

Clamp-on
Inline
Others (wall-mounted & hand-held)

On the basis of measurement technology, the market has been segmented as follows:

Transit-time
Doppler
Hybrid

On the basis of number of paths, the market has been segmented as follows:

1 path transit-time
2 path transit-time
3 and above path transit-time

On the basis of end-user, the market has been segmented as follows:

Oil & gas
Power Generation
Water & wastewater
chemical, food & beverage, pharmaceuticals, and paper & pulp industries)

On the basis of region, the market has been segmented as follows:<

Asia Pacific
Europe
North America
South America
Middle East & Africa

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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.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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