Ultrasonic Flowmeter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast By 2022-27

in ultrasonic •  3 years ago 

According to the latest report by IMARC Group, title “Ultrasonic Flowmeter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027; The global market reached a value of US$ 1.64 Billion in 2021. An ultrasonic flowmeter refers to a device that is utilized to measure the quantity of a gas or liquid. The device assists in measuring fluid velocity, which calculates the motion of any flowing liquid or gas. The velocity of molten sulfur, chemicals, cryogenic liquids, gases, etc., can also be measured. This device generally works on three principles, namely transit time difference, doppler effect principle, and open channel principle. Ultrasonic flowmeters are widely utilized in numerous industries, such as wastewater, chemical, food and beverage, mining, metals, pharmaceuticals, power generation, etc.

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The accuracy of the ultrasonic flowmeters in calculating the velocity of the fluids and taking measurements is primarily driving the ultrasonic flowmeter market. Besides this, several advancements in ultrasonic technologies and computing capabilities have encouraged improved flowmeter performance and measurement in continuous industrial processes and detecting secondary flow in pipelines. Moreover, due to the various benefits offered by ultrasonic flowmeters, such as their non-invasive nature, high accuracy, reliability, low maintenance, etc., they are gaining traction among numerous sectors. Apart from this, the increasing number of refineries and escalating energy demand is anticipated to bolster the ultrasonic flow meters market over the forecasted period. Looking forward, IMARC Group expects the market to reach US$ 2.38 Billion by 2027, exhibiting at a CAGR of 6.32% during 2022-2027.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape:

Asea Brown Boveri Ltd
Badger Meter Inc.
Emerson Electric Co.
Emerson Process Management
Faure Herman SA
General Electric
Hach/Marsh McBirney Inc.
Honeywell International Inc
Index Corporation
Invensys Process Systems
Rockwell Automation Inc.
Siemens AG
Teledyne Isco Inc.
Yamatake Co
Yokogawa Electric Co.

Key Market Segmentation:

Breakup by Product Type:

Spool Peice
Insertion
Clamp-On
Others

Breakup by Number of Paths:

3-Path Transit Time
4- Path Transit Time
5- Path Transit Time
6 or More Path Transit Time

Breakup by Technology:

Transit Time - Single/Dual Path
Transit Time - Multipath
Doppler
Hybrid

Breakup by Distribution Channel:

Direct Sales
Independent Representatives
Distributors
Online

Breakup by Application:

Natural Gas
Non-Petroleum Liquid
Petroleum Liquid
Others

Regional Insights:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

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Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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