Ultrasonic Flow meter Market to Reach US$ 2 Billion by 2024

Ultrasonic Flow Meter Market Trends:

Ultrasonic flowmeters are inexpensive, easy to install, and highly accurate and sensitive. They also have bi-directional flow capability, good measurement repeatability, and require less maintenance than conventional meters. Owing to these economic and operational advantages, they are increasingly being used in the water and wastewater treatment to measure the dosage of chemicals, monitor methane discharge, and evaluate large volumes of fluid carrying sludge by-products, suspended solids and other materials. Apart from this, advancements in the ultrasonic technology and computing capabilities have helped in enhancing flowmeter performance and measurement in continuous industrial processes and detecting secondary flow in pipelines. For instance, manufacturers are introducing advanced ultrasonic flowmeters integrated with multi-path ultrasonic sensing capabilities using improved software. Looking forward, the ultrasonic flow meter market value is projected to reach US$ 2 Billion by 2024, expanding at a CAGR of 8.6% during 2019-2024.

Market Segmentation:

  • Based on the product type, spool piece is the most popular type of ultrasonic flowmeter across the globe. Other major product types include insertion, clamp-on and others.
  • On the basis of the number of paths, the market has been segregated into 3-path transit time, 4-path transit time, 5-path transit time and 6 or more path transit time.
  • Based on the technology, the market has been segmented into transit time single/dual path, transit time – multipath, doppler and hybrid.
  • On the basis of the distribution channel, the market has been divided into direct sales, independent representatives, distributors and online.
  • The market has also been classified on the basis of application into natural gas, non-petroleum liquid, petroleum liquid, and others. Currently, natural gas represents the largest application segment.
  • Region-wise, Europe enjoys the leading position in the ****** ultrasonic flowmeter market. Other major regions are North America, Asia Pacific, Middle East and Africa, and Latin America.

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