Ultrasonic Flow Meters Market Size, Share, Cost Structure Analysis and Forecast 2021
The Ultrasonic Flow Meters market report global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer.
An ultrasonic flow meter is a type of flow meter that measures the velocity of a fluid with ultrasound to calculate volume flow. Using ultrasonic transducers the flow meter can measure the avarage velocity along the path of an emitted beam of ultrasound by averaging the difference in measured transit time between the pulses of ultrasound propagating into and against the direction of the flow or by measuring the frequency shift from the Doppler Effect.
Ultrasonic flow meters are affected by the acoustic properties of the fluid and can be impacted by temperature, density, viscosity and suspended particulates depending on the exact flow meter. They vary greatly in purchase price but are often inexpensive to use and maintain because they do not use moving parts unlike mechanical flow meters.
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Ultrasonic flow meters are gaining wider prominence in hydrocarbon industry applications. Benefits offered by ultrasonic flowmeters such as accuracy and obstruction-free measurement are the major factors fueling demand for this product. The oil & gas industry has been one of the major contributors to the market size of ultrasonic flowmeters. Ultrasonic flowmeters are becoming increasingly popular in the upstream oil & gas market size and this sector has emerged as a growth area for the technology.
However, in the short-term the slowdown in the oil & gas industry is inhibiting the market size. Oil & gas companies are reducing staff and canceling or delaying projects. The slowdown in the industry has significantly influenced the 2015 flowmeter shipments. Due to the ongoing slowdown, the global demand for ultrasonic flowmeters is expected to remain sluggish in the near coming years.
The global ultrasonic flow meters market size is segmented on the basis of product types, application and geography. On the basis of product types, the global ultrasonic flow meters market size is segmented into inline ultrasonic, flare gas meters, differential pressure, clamp-on ultrasonic, positive displacement, turbine, vortex, coriolis, magnetic, and so on.
On the basis of application, the global ultrasonic flow meters market size is segmented into water & waste water, oil & gas, refining & petrochemicals, power generation, pulp & paper, metals & mining, food & beverages, pharmaceuticals, chemicals and so on. The segment “water & wastewater” accounts for the largest share of the flow meter market. Flow meter is used in water flow monitoring, detection of leakage, water consumption among other applications. Water is used in industrial, household and communal applications.
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Without flow meter, the measurements and monitoring is not possible which has resulted in increased use of flow meters. Moreover, water is an important constituent of various industrial operations such as in chemical, oil & gas, food & beverages, automotive, manufacturing industries including iron & steel. These industries need to monitor the flow rate and water use in their respective processes, which involves the use of flow meters. This has led to an increased use of flow meters in various segments of the market.
On the basis of geography, the global ultrasonic flow meters market size is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific dominated the global flow meter market in 2015. The demand for flow meter in the Asia Pacific region is mainly driven by the rising demand for high quality and reliable measurement tools from end-use industries which is increasing the demand for flow meters.
Asia Pacific is estimated to be the fastest growing market for flow meter. This high growth is because of the increased demand from the oil & gas and water treatment applications in the region. Moreover, the growing industrial development, water recycling facilities, growing concern in industries with regard to maintaining accuracy in flow rate, volume and quantity of chemicals, liquids, gases and various fluids in their operations and processes is increasing the demand for flow meters in the region.
The key players of global ultrasonic flow meters market are KROHNE Messtechnik, Siemens, ENDRESS HAUSER, Greyline Instruments, Bronkhorst, Mass Flow, YOKOGAWA, NIVUS, Isoil, FUJI ELECTRIC, ABB Ltd., Siemens AG, Badger Meter Inc., Endress + Hauser AG, Azbil Corporation, Krohne Messtechnik GmbH and Schneider Electric.
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