Ultrasonic Flow Meter Market: Wet and Stabilize Pigments
- Ultrasonic flow meters use sound waves to determine the velocity of a fluid flowing in a pipe. At no flow condition, the frequency of an ultrasonic wave transmitted into a pipe and the frequency of the reflected wave from the fluid are the same. Under flowing condition, the frequency of the reflected wave is different from the frequency of wave transmitted into a pipe, due to the Doppler Effect.
- When the fluid moves faster, the frequency shift increases linearly. The transmitter processes signals from the transmitted wave and its reflections to determine the flow rate.
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Key drivers of global ultrasonic slow meter market
- 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
- Expansion of the market can be attributed to several factors such as increasing green field investments in China, increase in shale gas exploration activities in the U.S, and rise in demand for advanced flow measuring technologies.
- Expansion of the energy industry across the globe is a key factor driving the global ultrasonic flow meter market. Moreover, recent development of multipath meters and rising demand for flow meters for custody transfer applications are key factors fueling the global ultrasonic flow meter market.
- In terms of measurement technology, the transit-time segment dominated the global market in 2018, owing to its owing to its ability to measure bi-directional and precise flow. This technology can be utilized for both natural gas and petroleum liquid.
- Oil & gas and water & wastewater industries require precise flow measurement technologies in their process, which is expected to drive the demand for transit-time technology flow meters during the forecast period.
- Furthermore, hybrid is an upcoming measurement technology and the segment held a significant share of the ultrasonic flow meter market in 2018. This technology is a combination of both transit-time and Doppler technologies, which is primarily utilized by the water & wastewater industry.
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Oil & gas segment to offer attractive opportunities
- The oil & gas segment is estimated to expand at a rapid pace during the forecast period owing to the need for precise accuracy flow measurement in custody transfer applications in the oil & gas industry. Ultrasonic flow meters are also utilized for pump testing & inspection, methanol & water injection metering, verification of in-line meters, and water measurements.
- Ultrasonic flow meters are presently widely used in chemical and refining industries to measure processed gasses. Ultrasonic meters perform well in large pipe sizes, as size is also advantageous for ultrasonic meters as they have more scope for the ultrasonic signal to cross.
- Ultrasonic flow meters are also employed in the refining & petrochemicals sector to measure the flow of petroleum and non-petroleum liquids, thus driving the global market significantly.
- The rise in demand for ultrasonic flow meter is majorly contributed by the multipath meters used for the custody transfer of natural gas. Moreover, the precise accuracy, reliability, obstruction-free measurements, and wide industrial use are expected to propel the ultrasonic flow meter market at a significant CAGR during the forecast period.
Intense competition from counterparts and stringent regulations to hamper market
- However, availability of a wide range of flow meters is a key factor hampering the global ultrasonic flow meter market
- Manufacturers, which are involved in manufacturing and implementation of traditional flow meters are not willing to switch to the latest technology to avoid bearing risk. This attitude can hinder the global ultrasonic flow meter market.
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Asia Pacific expected to hold significant share of global ultrasonic flow meter market
- In terms of region, the global ultrasonic flow meter market can be split into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- Asia Pacific is a prominent market for ultrasonic flow meter, globally, and the market in the region is estimated to expand during the forecast period. This expansion is estimated to be primarily driven by the increasing investment in water & wastewater, energy & power, refining, chemicals, and industrial infrastructure activities in developing countries, such as China and India, in the region
- Key players using ultrasonic flow meters in the region are Cameron, Katronic, Endress+Hauser, Krohne, and Emerson. As per BP stats 2019, gas production in Saudi Arabia's has been rising at 4% to 5% per year, which is expected to drive the demand for ultrasonic flow meter in the near future.
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Key players operating in the market
The ultrasonic flow meter market is dominated by a few major players that have a wide regional presence. Siemens is actively investing in R&D activities to develop innovative and sustainable solutions for its customers. This is expected to help the company to strengthen its presence in the global ultrasonic flow meter market. Key players operating in the ultrasonic slow meter market include:
- Siemens AG
- Fuji Electric Co., Ltd.
- Badger Meter, Inc.
- GENERAL ELECTRIC
- Endress+Hauser Management AG
- Honeywell International Inc.
- KROHNE Group
- Emerson Electric Co.
- Faure Herman SA
- Index Corporation
- Invensys Process Systems
- Rockwell Automation Inc.
- Teledyne Isco Inc.
Global Ultrasonic Flow Meter Market: Research Scope
Global Ultrasonic Flow Meter Market, by Implementation Type
Global Ultrasonic Flow Meter Market, by Measurement Technology
Global Ultrasonic Flow Meter Market, by Number of Paths
- 1-Path Transit-Time
- 2-Path Transit-Time
- 3 and Above Path Transit-Time
Global Ultrasonic Flow Meter Market, by End-use Industry
- Water & Waste Water
- Refining & Petrochemicals
- Oil & Gas
- Power Generation
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.