Ultrasonic Flow Meter Market Analysis | 2022-2028

Market Insights

The ultrasonic flow meter market was estimated at USD 1.87 billion in 2021 and is likely to grow at a CAGR of 7.31% during 2022-2028 to reach USD 3.1 billion in 2028.

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Market Dynamics

Introduction

Ultrasonic flow meter is a volumetric device which helps in measuring the flow of fluids with the ultrasound to calculate volume flow. Ultrasonic flow meter can also be used for bidirectional flow and it offers higher accuracy of the order of +/-2% of full scale. It is expensive and has a complex structure which offers very good and dynamic response. It is generally used for wastewater application or any dirty liquid which is conductive or water based.

Market Drivers

The major factors driving the growth of the ultrasonic flow meter market are:

• Increasing investments in green fields in the regions such as China, surge in demand for advanced flow measuring technologies.
• Growth in shale gas exploration activities in the US. are the major governing factors fueling the growth of the market during the forecast period.

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Key Players

The following are the key players in the ultrasonic flow meter market:

• Badger Meter
• Danfoss
• Endress+Hauser
• Fuji Electric
• GE
• Honeywell
• KROHNE
• Siemens

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Implementation Type

"The clamps-on segment led the market in 2021, and is expected to remain dominant during the forecast period"

Based on the implementation type, the ultrasonic flow meter market is segmented as clamps-on, inline, and others. The clamps-on segment led the market in 2021, and is expected to remain dominant during the forecast period. The segment helps in measuring the flow without interruption in the process. In addition, the flow rate under different challenging environment areas is expected to boost the market’s demand.

By Technology Type

"The transit-time segment captured the largest share of the market in 2021, and is expected to grow at the fastest pace during the forecasted period"

Based on the technology type, the market is segmented as transit-time, doppler, and hybrid. The transit-time segment captured the largest share of the market in 2021, and is expected to grow at the fastest pace during the forecasted period, owing to its bi-directional and precise flow measurement advantages. Further, the segment holds over 80% share of the total market.

By End-User Type

"The oil & gas segment leads the market during the forecast period"

Based on the end-user type, the market is segmented as oil & gas, power generation, water & wastewater, and others. The oil & gas segment leads the market and is likely to be the fastest-growing segment during the forecasted period due to the accurate flow measurement, which is required for custody transfer applications.

Regional Analysis

"Asia-Pacific is estimated to dominate the ultrasonic flow meter market during the forecast period"

In terms of regions, Asia-Pacific is estimated to dominate the ultrasonic flow meter market during the forecast period as the region’s most players are operating in flow meters, that find their manufacturing plants in the Asia-Pacific region. The number of investments is increasing in water & wastewater, energy, power, refining, chemicals, in China and India, which is driving the growth of the market.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s functional ultrasonic flow meter market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The ultrasonic flow meter market is segmented into the following categories. 

By Implementation Type

• Clamps-On 
• Inline 
• Others  

By Technology Type

• Transit-Time 
• Doppler 
• Hybrid  

By End-User Type

• Oil & Gas 
• Power & Energy 
• Water & Wastewater  
• Others  

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the implementation types by end-user type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].