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The ultrasonic flowmeter market size is estimated to grow at a CAGR of 6.87% between 2023 and 2028. The market size is forecast to increase by USD 1.36 billion. The growth of the market depends on several factors such as the increased adoption of ultrasonic flowmeters in various industries, the high accuracy and reliability of ultrasonic flowmeters and the high demand for energy-efficient and cost-saving products.
The research report on the ultrasonic flowmeter market offers industry forecasts and segmentation based on Technology including transit-time, doppler, and hybrid. It also segments the market by Product, which comprises a spool piece ultrasonic flowmeter, insertion ultrasonic flowmeter, and clamp-on ultrasonic flowmeter. Geographically, the report covers North America, Europe, APAC, South America, and the Middle East and Africa. The market size, historical data (2018-2022), and future forecasts are presented in terms of value (in USD billion) for all these mentioned segments.
Ultrasonic Flowmeter Market Forecast 2024-2028
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Our researchers studied the data for years, with 2024 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Ultrasonic flowmeters are increasingly being adopted across a wide range of industries, including oil and gas, water and wastewater management, chemicals, and pharmaceuticals. This growing diversity of applications is driving market expansion. Ultrasonic flowmeters are used for measuring the flow of crude oil, natural gas, and refined petroleum products. Ultrasonic flowmeters play a role in pharmaceutical manufacturing, particularly in monitoring the flow of liquids and gases in critical processes, ensuring quality and consistency. The increasing adoption of ultrasonic flowmeters across these industries is driven by the need for accurate, reliable, and non-invasive flow measurement solutions.
Moreover, as technology continues to evolve, ultrasonic flowmeters are likely to find applications in even more sectors and niches as their capabilities and versatility continue to expand, which will have a positive impact on the growth of the global ultrasonic flowmeter market during the forecast period.
Ultrasonic flowmeters are among the most often utilized flowmeters nowadays in a variety of potential end-user sectors. Ultrasonic flowmeters can measure various types of water, including clean water, wastewater, and sludge, as well as different flow rates. This versatility makes them suitable for various processes within the water and wastewater treatment cycle. In water treatment plants, ultrasonic flowmeters can be utilized on any commercially available pipe size. Ultrasonic flowmeters are largely employed in water and wastewater control in industrial settings.
However, many ultrasonic flowmeters are equipped with digital communication interfaces, allowing seamless integration with control systems and data-logging solutions. This enhances data collection, analysis, and remote monitoring capabilities, which are important in water and wastewater management. Thus, increasing concern for water and wastewater management may have a positive impact on the growth of the global ultrasonic flowmeter market during the forecast period.
Ultrasonic flowmeters can have higher upfront costs compared to other flow measurement technologies. This can be a barrier to adoption for budget-constrained applications or industries. Ultrasonic flowmeters are based on advanced and precise measurement technology. They typically incorporate highly specialized ultrasonic transducers, advanced electronics, and signal processing algorithms, all of which require research, development, and production investments. Ultrasonic flowmeters are designed to handle a variety of flow profiles, fluid types, and operating conditions. The design complexity, including multipath configurations, signal processing algorithms, and compensation for various factors, can contribute to higher development and production costs.
In addition, ultrasonic flowmeters require precise calibration and extensive testing to ensure their accuracy and reliability. Calibration involves intricate procedures and sophisticated equipment, which adds to the production cost. Thus, the high initial cost of ultrasonic flowmeters remains a challenge that may hamper the growth of the global ultrasonic flowmeter market during the forecast period.
The transit-time segment is estimated to witness significant growth during the forecast period. In a transit-time ultrasonic flowmeter, two sets of ultrasonic transducers are used one set as transmitters and the other as receivers. Ultrasonic pulses are alternately transmitted upstream and downstream of the flowing liquid. The time it takes for the ultrasonic signals to travel between the transducers in the upstream and downstream directions is measured.
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The transit-time segment was the largest and was valued at USD 1.51 billion in 2018. Transit-time ultrasonic flowmeters do not require direct contact with the flowing fluid, making them suitable for a wide range of applications, including clean liquids and liquids with particulates. This non-invasive nature reduces maintenance and the risk of contamination. Transit-time ultrasonic flowmeters can be used in a broad range of pipe sizes, from small diameters in laboratory settings to large pipelines in industrial applications. The growing demand for transit-time technology can be attributed to their accuracy, versatility, and suitability for a wide range of applications in industries such as oil and gas and water and wastewater, where precise flow measurement is crucial, which is expected to have a positive impact on the growth of the global ultrasonic flowmeter market during the forecast period.
Based on the product, the market has been segmented into spool piece ultrasonic flowmeter, insertion ultrasonic flowmeter, and clamp-on ultrasonic flowmeter. The spool piece ultrasonic flowmeter?segment will account for the largest share of this segment.? A spool piece ultrasonic flowmeter is a type of flow measurement device that uses ultrasonic technology to measure the flow rate of a fluid (such as liquid or gas) through a pipeline or process system. Spool piece ultrasonic flowmeters are versatile and can be used in various industries, such as oil and gas, water and wastewater management, chemical processing, food and beverage, and pharmaceuticals. Their adaptability to different fluids and flow rates makes them attractive for a broad range of applications in oil and gas and water and wastewater industries, which may have a positive impact on the growth of the global market in focus during the forecast period.
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APAC is estimated to contribute 29% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. APAC is home to some of the world's fastest-growing industrial sectors, including manufacturing, chemicals, petrochemicals, and electronics. These industries require accurate flow measurement solutions for various applications, leading to a rising demand for ultrasonic flowmeters. Rapid urbanization and infrastructure development in APAC countries have led to increased investment in water and wastewater management systems. Ultrasonic flowmeters are essential for monitoring and managing water distribution and wastewater treatment. As energy costs rise, industries in APAC are increasingly focusing on energy efficiency. Accurate flow measurement provided by ultrasonic flowmeters helps optimize processes and reduce energy consumption.
In addition, ultrasonic flowmeter technology has seen advancements in recent years, making it more accurate, reliable, and suitable for a wider range of applications. These improvements have made ultrasonic flowmeters more appealing to industries in the region. Such factors are expected to drive market growth in the region during the forecast period.
The outbreak of COVID-19 adversely impacted the growth of the market in the region in 2020. However, in 2021, with large-scale vaccination programs, the regional ultrasonic flowmeter market started to recover. Ultrasonic flowmeter technology has seen advancements in recent years, making it more accurate, reliable, and suitable for a wider range of applications, which may boost the growth of the regional ultrasonic flowmeter market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Badger Meter Inc. - The company offers ultrasonic flowmeters such as Ultrasonic flow meters Doppler and Ultrasonic flow meters transit time technology.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Badger Meter Inc., Baker Hughes Co., Bronkhorst High Tech B.V., CMC Technologies Pty Ltd., Danfoss AS, Eesiflo Technologies Inc., Emerson Electric Co., Endress Hauser Group Services AG, FOX THERMAL INSTRUMENTS INC., Fuji Electric Co. Ltd., General Electric Co., Honeywell International Inc., IDEX Corp., Katronic AG and Co. KG, KROHNE Messtechnik GmbH, Omega Engineering Inc., Roper Technologies Inc., Siemens AG, Teledyne Technologies Inc., and Fluenta AS
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The ultrasonic flowmeter market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Ultrasonic Flowmeter Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.87% |
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Market Growth 2024-2028 |
USD 1.36 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.37 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 29% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Badger Meter Inc., Baker Hughes Co., Bronkhorst High Tech B.V., CMC Technologies Pty Ltd., Danfoss AS, Eesiflo Technologies Inc., Emerson Electric Co., Endress Hauser Group Services AG, FOX THERMAL INSTRUMENTS INC., Fuji Electric Co. Ltd., General Electric Co., Honeywell International Inc., IDEX Corp., Katronic AG and Co. KG, KROHNE Messtechnik GmbH, Omega Engineering Inc., Roper Technologies Inc., Siemens AG, Teledyne Technologies Inc., and Fluenta AS |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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