"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.
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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.
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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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.
Ultrasonic Flow Market:WiseGuyReports.com adds “Global Ultrasonic Flow Market Size, Status and Forecast 2020-2025” reports to its database.Executive SummaryThe Global Ultrasonic Flow Meter Market was valued at USD 1338.5 million in the year 2019.
The rise in the transmission & distribution of oil & gas by the growing number of new facilities has fueled the growth of flow control systems.
Manufacturers are focusing on innovating flow meter applications in food & beverage, and pulp & paper industries.
However, the center of focus is growing number of gas exploration projects around the world.Demand for ultrasonic flow meter is expected to rise during the forecast period, as it is a cost-effective technology and owing to its usage in various applications specific industries such as oil & gas and power sectors.
Moreover, recent development of multi-path meters and rising demand for flow meters for custody transfer applications are key factors fueling the global ultrasonic flow meter market.Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5287077-global-ultrasonic-flow-meter-market-analysis-by-measurementHowever, world trade is expected to fall by between 13% and 32% in 2020 as the COVID 19 pandemic disrupts normal economic activity and life around the globe.
Regional outbreak, weaker global demand, financial market volatility and lower oil prices will undermine consumption, investment and exports and hampering many industries including the ultrasonic flow meter market, at least in the year 2020.The United States market is anticipated to be propelled by escalating production and manufacturing activities witnessed by major industries followed by growing dominance of leading domestic market players like Badger Meter, Cameron International, Emerson, GE, Sierra Instruments and among others.Scope of the Report• The report analyses the Ultrasonic Flow Meter Market by end Users (Water & Waste Water, Oil & Gas, Chemical, Power, Others).• The report assesses the Ultrasonic Flow Meter market by measurement Technology (Transit-Time, Doppler, Hybrid).• The Global Ultrasonic Flow Meter Market has been analysed By Region (Americas, Europe, Asia Pacific, MEA) and By Country (United States, Canada, Mexico, Brazil, Germany, France, U.K, China, Japan, India).• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis.
