Ultrasonic Flow Meter - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Ultrasonic Flow Meter Market is accounted for $1.17 billion in 2017 and is expected to reach $2.57 billion by 2026 growing at a CAGR of 9.1% during the forecast period. Some of the key factors influencing the market growth include need for accurate measurement, growing demand in oil & gas and water & wastewater industries and growing demand from the custody transfer applications. However, high initial cost of ultrasonic flow meters is restricting the market growth.
The ultrasonic flow meter is used to measure the fluid velocity which will calculate the motion of the gas or any liquid flowing. The flow meter measures the average velocity with the help of ultrasonic transducers. These ultrasonic flow meters are affected by the temperature, density, viscosity of the fluid.
Amongst implementation type, the spool piece ultrasonic flowmeter segment accounted for the major shares of this market. These flow meters are made of carbon steel, alloy steel, and stainless steel and incorporate highly-efficient transmitters that provide intelligent diagnostics. Additionally, to monitor the flow of high viscosity liquids, these devices are also geared with special transducer designs and sophisticated software.
By Geography, Asia Pacific has significant market share during the forecast period. The construction of new power plants using natural gas and the replacement of old power plants in countries such as India, Australia, and China will help in increasing the demand for ultrasonic flow meters in this region due to the significant changes in the power sector and environmental concerns.
Some of the key players in global ultrasonic flow meter market are Siemens, Fuji Electric, General Electric, Honeywell, Emerson, Honeywell International Inc., Rockwell Automation Inc., Teledyne Isco Inc., Badger Meter Inc., Index Corporation, Katronic, CMC Technologies, Invensys Process Systems, Yokogawa Electric Co., Asea Brown Boveri Ltd., Yamatake Co. and Faure Herman SA.
Measurement Technologies Covered:
• Transit Time - Multipath
• Transit Time - Single/Dual Path
Implementation Types Covered:
• Spool Peice
• Other Implementation Types
Customer Types Covered:
• Systems Integrators
• Original Equipment Manufacturers (OEMs)
Number of Paths Covered:
• 6 or More Path Transit Time
• 5- Path Transit Time
• 4- Path Transit Time
• 3- Path Transit Time
• 2-Path Transit Time
• 1-Path Transit Time
Distribution Channels Covered:
• Independent Representatives
• Direct Sales
• Petroleum Liquid
• Natural Gas
• Non-Petroleum Liquid
• Other Applications
End Users Covered:
• Power Generation
• Oil & Gas
• Water & Wastewater
• Pulp & Paper
• Refining & Petrochemicals
• Metals and Mining
• Food & Beverages
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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