Increasing demand in oil
& gas and water & wastewater industries to drive growth of global
ultrasonic flow meters market through 2024
According to TechSci Research report, “Global Ultrasonic Flow Meters Market By Product Type, By No. of Paths, By Sales Channel, By End User Industry, By Region, Competition, Forecast & Opportunities, 2024”, the global ultrasonic flow meters market is expected to grow at a CAGR of around 7% during the forecast period. The ultrasonic flow meters are witnessing adoption on account of their accuracy, low maintenance and reliability. Moreover, the rising number of refineries catalysed by increasing energy demand is further driving the demand for ultrasonic flow meters. However, high initial costs of ultrasonic flow meters and inaccurate measurements in the Vertically Downward Flow Line, are likely to hamper the global ultrasonic flow meters market during the forecast period.
The global ultrasonic flow meters
market is segmented based on product type, no. of paths, sales channel, end
user industry, region and company. Based on end user industry, the market can
be fragmented into Oil & Gas, Water & Wastewater, Power Generation and Others.
The Oil & Gas segment is projected to register the highest CAGR during the
forecast period owing to the precise accuracy flow measurement requirement in
custody transfer applications.
Asea Brown Boveri Ltd., Rockwell Automation Inc., Honeywell International Inc., Emerson Electric Co., Yokogawa Electric Co., Teledyne Isco Inc., Badger Meter Inc., Index Corporation, Emerson Process Management, Invensys Process Systems and others are some of the leading players operating in global ultrasonic flow meters market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in June 2018, Badger Meter launched the E-Series Ultrasonic meters. The meters are ideal for measuring cold water in commercial & industrial applications. The new meters are available in 3-inch and 4-inch sizes.
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expected to be the fastest growing market during the forecast period, owing to
the rising demand for high quality and reliable tools from wide range of
industries along with increasing demand from the oil & gas and water
treatment applications. Moreover, growing industrial development, rising number
of water recycling facilities and processes are further anticipated to drive
the demand for ultrasonic flow meters market in the region.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global management
“Global Ultrasonic Flow Meters Market By Product Type, By No. of Paths, By Sales Channel, By End User Industry, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global ultrasonic flow meters market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global ultrasonic flow meters market.