In many end-use industries, an ultrasonic flow metre is a device that measures the flowrate of process fluids. It measures the flow rate of fluids such as liquids and gases using ultrasonic technology. Ultrasonic flowmeters emit and receive sound waves to determine the velocity of a fluid moving through a conduit. The flow rate of a liquid is calculated using the velocity of a fluid. Ultrasonic flowmeters have a number of advantages over other forms of flowmeters. Factors such as rise demand for flow measurements in the oil & gas industry during custody transfer is creating profitable opportunities for the ultrasonic flowmeter market in the forecast period.
MARKET DYNAMICS
The growing demand in oil & gas and water & wastewater industries and increasing demand for smart and intelligent flow meters are driving the growth of the ultrasonic flowmeter market. Higher cost of ultrasonic flowmeter may restrain the growth of the ultrasonic flowmeter market. Furthermore, rising number of refineries catalyzed by increasing energy demand is anticipated to create market opportunities for the ultrasonic flowmeter market during the forecast period.
MARKET SCOPE
The "Global Ultrasonic Flowmeter Market Analysis to 2028" is a specialized and in-depth study of the ultrasonic flowmeter market with a special focus on the global market trend analysis. The report aims to provide an overview of ultrasonic flowmeter market with detailed market segmentation by type, end user, and geography. The global ultrasonic flowmeter market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading ultrasonic flowmeter market players and offers key trends and opportunities in the ultrasonic flowmeter market.
MARKET SEGMENTATION
The global ultrasonic flowmeter market is segmented on the basis of type and end user. On the basis of type the market is segmented into spool piece, inline, clamp-on, and others. Based on end user the market is segmented water and wastewater management, oil and gas, chemical power generation, pharmaceuticals, aerospace, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global ultrasonic flowmeter market based on various segments. It also provides market size and forecast estimates from year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The ultrasonic flowmeter market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting ultrasonic flowmeter market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the ultrasonic flowmeter market in these regions.
IMPACT OF COVID-19 ON ULTRASONIC FLOWMETER MARKET
The COVID-19 pandemic had a negative impact on ultrasonic flowmeter end-users, resulting in lower demand for new flowmeters. During the pandemic, the oil and gas industry was one of the highly impacted sectors, since transportation limitations reduced demand for crude oil products from the automotive and aircraft industries. The drop in demand for gasoline and diesel slowed oil and gas custody transfers in key countries. Due to a lack of human resources, development of wastewater management projects such as new sewage treatment plants had to be postponed. All of these issues had a negative impact on the industry during the pandemic, but the resumption of projects beginning in mid-2021 is helping to recover the market.
MARKET PLAYERS
The reports cover key developments in the ultrasonic flowmeter market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from ultrasonic flowmeter market are anticipated to lucrative growth opportunities in the future with the rising demand for ultrasonic flowmeter market. Below mentioned is the list of few companies engaged in the ultrasonic flowmeter market.
The report also includes the profiles of key ultrasonic flowmeter market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Badger Meter Inc.
- Baker Hughes Company
- Emerson Electric Co.,
- Endress+Hauser AG,
- Faure Herman SA
- Fuji Electric Co. Ltd.
- Honeywell International Inc.
- Krohne,
- Siemens AG
- Teledyne