The global ultrasonic flowmeter market was worth around US$ 1.2 Billion in 2018. Looking forward, the market value is projected to reach US$ 1.9 Billion by 2024, expanding at a CAGR of 8.6% during 2019-2024.
The accuracy of the ultrasonic flowmeters in taking measurements and calculating the velocity of the fluids is a key factor that is driving its demand. The high efficiency and accuracy of ultrasonic flowmeters can be attributed to the fact that they do not suffer mechanical wear and tear, do not cause a drop in the pressure of the fluid flowing through the pipe, and can be used for bidirectional measurements as well.
Ultrasonic flowmeters are playing a major role in making bidirectional measurements that can be done with clamp-on flowmeters. Another major factor that is driving the demand of ultrasonic flowmeters is their non-invasive nature. These flowmeters do not require to come in contact with the fluid or involve cutting of the pipe in order to take the measurements. They are highly accurate, reliable and require low-maintenance. Moreover, the rising number of refineries catalyzed by increasing energy demand is also driving the demand of ultrasonic flow meters.
Based on the product type, the market has been segmented into spool piece, insertion, Clamp-On and others. The spool piece segment currently represents the largest segment.
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Europe is the leading market, accounting for the majority of the market share.
Key Topics Covered
1 Preface
2 Scope and Methodology 2.1 Objectives of the Study 2.2 Stakeholders 2.3 Data Sources 2.4 Market Estimation 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Ultrasonic Flowmeter Market 5.1 Market Overview 5.2 Market Performance 5.3 Market Breakup by Product Type 5.4 Market Breakup by Number of Paths 5.5 Market Breakup by Technology Type 5.6 Market Breakup by Distribution Channel 5.7 Market Breakup by Application 5.8 Market Breakup by Region 5.9 Market Forecast 5.10 SWOT Analysis 5.10.1 Overview 5.10.2 Strengths 5.10.3 Weaknesses 5.10.4 Opportunities 5.10.5 Threats 5.11 Value Chain Analysis 5.11.1 Overview 5.11.2 Research and Development 5.11.3 Raw Material Procurement 5.11.4 Manufacturing 5.11.5 Distribution 5.11.6 Export 5.11.7 End-Use 5.12 Porters Five Forces Analysis 5.12.1 Overview 5.12.2 Bargaining Power of Buyers 5.12.3 Bargaining Power of Suppliers 5.12.4 Degree of Competition 5.12.5 Threat of New Entrants 5.12.6 Threat of Substitutes
6 Market Breakup by Product Type 6.1 Spool Piece 6.2 Insertion 6.3 Clamp-On 6.4 Others
7 Market Breakup by Number of Paths 7.1 3-Path Transit Time 7.2 4-Path Transit Time 7.3 5-Path Transit Time 7.4 6 or More Path Transit Time
8 Market Breakup by Technology Type 8.1 Transit Time - Single/Dual Path 8.2 Transit Time - Multipath 8.3 Doppler 8.4 Hybrid
9 Market Breakup by Distribution Channel 9.1 Direct Sales 9.2 Independent Representatives 9.3 Distributors 9.4 Online
10 Market Breakup by Application 10.1 Natural Gas 10.2 Non-Petroleum Liquid 10.3 Petroleum Liquid 10.4 Others
11 Market Breakup by Region 11.1 Asia-Pacific 11.2 North America 11.3 Europe 11.4 Middle East & Africa 11.5 Latin America
12 Ultrasonic Flowmeter Manufacturing Process 12.1 Product Overview 12.2 Raw Material Requirements 12.3 Manufacturing Process 12.4 Key Success and Risk Factors
13 Competitive Landscape 13.1 Market Structure 13.2 Key Players 13.3 Profiles of Key Players 13.3.1 Asea Brown Boveri Ltd. 13.3.2 Badger Meter Inc. 13.3.3 Emerson Electric Co. 13.3.4 Emerson Process Management 13.3.5 Faure Herman SA 13.3.6 General Electric 13.3.7 Hach/Marsh McBirney Inc. 13.3.8 Honeywell International Inc. 13.3.9 Index Corporation 13.3.10 Invensys Process Systems 13.3.11 Rockwell Automation Inc. 13.3.12 Siemens AG 13.3.13 Teledyne Isco Inc. 13.3.14 Yamatake Co. 13.3.15 Yokogawa Electric Co.
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Related Topics: Capacitive Sensors
Source: GlobeNewswire
(July 5, 2019 - 5:27 AM EDT)
