Ultrasonic Flowmeter Market Size Boosting The Growth Worldwide | Baker Hughes Company, Endress+Hauser AG, Faure Herman

The global ultrasonic flowmeter market was valued at $650.7 million in 2020, and is projected to reach $959.8 million by 2028, growing at a CAGR of 5.1% from 2021 to 2028. Ultrasonic flowmeters use ultrasonic technology to measure flow rate of fluids such as liquids and gases. They are fundamentally based on Doppler and transit-time technology that transmit and receive sound waves to determine the velocity of a fluid flowing in a pipe. Velocity of a fluid is interpreted to calculate the flow rate of the liquid.

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Compared to other types of flowmeters, ultrasonic flowmeters offer various advantages. Primarily, it is a non-invasive type of flow measurement system, transducers do not come in direct contact with the process fluid and does not obstruct flow of the fluid, and are hence ideal for measuring corrosive and abrasive chemicals. Ultrasonic flowmeters are available in mounting types as well as portable flowmeters.

Demand for ultrasonic flowmeters in the oil & gas industry for custody transfer application is the major driver for the global ultrasonic flowmeter market. A high degree of accuracy is imperative to establish quantity of a product that has been transported. Even smallest amount of measurement error can be costly for receivers. Ultrasonic flowmeters are available for custody transfer applications for as accurate as 0.1%. Thus, accurate metering provided by ultrasonic technology has led to commercial confidence and helped reduce custody transfer disputes, hence is massively adopted in the oil & gas operations. In addition, demand for non-invasive measuring systems in wastewater management, power generation, and chemical industries has also increased adoption of ultrasonic flowmeters. However, high initial cost of ultrasonic flowmeters over other types of flow measurement systems is expected to hamper growth of the global ultrasonic flowmeter market during the forecast period. For instance, in custody transfer applications, turbine flowmeters can also be used. Electromagnetic flowmeters are preferred for measuring electrically conductive fluids.

Product development and product launches are expected to offer fresh opportunities for growth of the ultrasonic flowmeter market. Developments could be done in the components of flowmeters or software to increase their reliability. Newer ultrasonic flowmeters are designed to deliver more accuracy and provide operational flexibility. In 2020, Emerson released Daniel T-200, a titanium-housed transducer for its gas ultrasonic flow meter product line. It was made by using metal 3D printing to improve acoustic performance of ultrasonic flowmeters in custody transfer applications. In addition, the transducer improved reliability, uptime, and safety.

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Launching new products is a key developmental strategy adopted by profiled players in the ultrasonic flowmeter market. Krohne, Emerson, and Siemens are some of the manufacturers that released new models of ultrasonic flowmeters to increase their net sales as well as strengthen their presence in the market. Newer ultrasonic flowmeters are designed to deliver more accuracy and provide operational flexibility.

The global ultrasonic flowmeter market is segmented on the basis of transducer type, technology, end-user industry, and region. On the basis of transducer type, the global ultrasonic flowmeter market is segmented into spool piece, inline, clamp-on, and others. By technology, it is segmented into transit-time, Doppler, and hybrid. By end-user industry, it includes water and wastewater management, oil and gas, chemical, power generation, pharmaceuticals, aerospace, and others. Region wise, the global ultrasonic flowmeter market is studied across North America, Europe, Asia-Pacific, and LAMEA.

1.1. Key benefits for stakeholders
- Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current trends and future estimations of the market from 2020 to 2028 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.

Key players in the global ultrasonic flowmeter market are:
1. Badger Meter Inc.
2. Baker Hughes Company
3. Emerson Electric Co.
4. Endress+Hauser AG
5. Faure Herman
6. Fuji Electric Co. Ltd.
7. Honeywell International Inc.
8. Krohne
9. Siemens AG
10. Spectris PLC

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1.2. KEY MARKET SEGMENTS
- By Transducer Type
- Spool piece
- Inline
- Clamp-on
- Others

- By Technology
- Transit-time
- Doppler
- Hybrid

- By End-Use Industry
- Water and Wastewater management
- Oil and Gas
- Chemical
- Power generation
- Pharmaceuticals
- Aerospace
- Others

- By Region
- North America
o U.S.
o Canada
o Mexico
- Europe
o Germany
o France
o Italy
o Spain
o UK
o Rest of Europe
- Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Rest of Asia-Pacific
- LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA

Table of Content:

Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix

Reasons to Purchase this Report:
● Analyzing the outlook of the market with the current tendencies and SWOT analysis.
● Market dynamics scenario, alongside with increase possibilities of the market in the years to come.
● Market segmentation evaluation which include qualitative and quantitative lookup incorporating the have an effect on of monetary and non-economic aspects.
● Regional and use degree evaluation integrating the demand and grant forces that are influencing the boom of the market.
● Market fee (USD Million) and extent (Units Million) facts for every phase and sub-segment
● Competitive panorama involving the market share of principal players, alongside with the new initiatives and techniques adopted by means of gamers in the previous years.
● Comprehensive organization profiles masking the product offerings, key economic information, latest developments, SWOT analysis, and techniques employed through the predominant market players.

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