Ultrasonic Flowmeter Market Size is projected to reach USD 1.08 billion by 2030, growing at a CAGR of 5.1%: Straits Research

The global ultrasonic flowmeter market size was worth USD 690 million in 2021 and is projected to reach USD 1080 million by 2030, growing at a CAGR of 5.1% during the forecast period (2022-2030). Asia-Pacific was the highest revenue contributor and is estimated to grow at a CAGR of 5.1%.

New York, United States, July 26, 2022 (GLOBE NEWSWIRE) -- To measure the flow rate of fluids, including liquids and gases, ultrasonic flowmeters use ultrasonic technology. They mostly use Doppler and transit-time technology to detect the velocity of a fluid flowing through a pipe, which transmits and receives sound waves. The flow rate of a liquid is determined by interpreting its momentum. Ultrasonic flowmeters have several benefits over conventional forms of flowmeters. This sort of flow measurement system primarily uses non-invasive; transducers do not directly contact the process fluid and do not block the fluid's flow, making them perfect for detecting corrosive and abrasive chemicals.

The primary factor propelling the worldwide ultrasonic flowmeter market is the need for ultrasonic flowmeters in the oil and gas sector for custody transfer applications. Extreme accuracy is required to determine how much of a product has been carried. For receivers, even the tiniest measurement inaccuracy might be expensive. For custody transfer applications, ultrasonic flowmeters are offered with accuracy as high as 0.1 percent. As a result, the precise metering offered by ultrasonic technology has increased commercial confidence and helped decrease custody transfer disputes; as a result, it is widely used in oil and gas operations. Ultrasonic flowmeter use has also expanded due to the need for non-invasive measurement devices in the wastewater management, power generating, and chemical industries.

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Rise in Demand for Wastewater Management to Drive the Global Ultrasonic Flowmeter Market

Flowmeters are used in wastewater treatment to measure effluent flow and dose chemicals. Currently, wastewater treatment facilities use a variety of flowmeter types. Large amounts of suspended particles in water can block mechanical flowmeters. Additionally, clamp-on flowmeters, which do not come into direct contact with the process fluid, are taking the place of conventional flowmeters. This element fuels the demand for ultrasonic flowmeters in the wastewater management sector.

Additionally, it is anticipated that there will be an increase in demand for wastewater management on a global scale throughout the projection period, mainly due to planned industrial expansion in several nations and the growth of the residential housing market. During the forecast period, wastewater treatment investments are expected to increase due to the rising concern over water contamination in several nations. All of these factors fuel the demand for ultrasonic flowmeters.

New Product Developments to Provide Opportunities for the Global Ultrasonic Flowmeter Market

Product developments present new potential for market expansion for ultrasonic flowmeters. More accurate and flexible functioning are features of more recent ultrasonic flowmeters. For challenging applications in the oil & gas and chemical industries, Endress+Hauser AG introduced the Prosonic Flow G 300/500 line of ultrasonic gas flowmeters in 2020. It has a durable industrial design for processes with temperatures and pressures of up to 150 °C and 100 bars, respectively. To calculate extra process variables, it is equipped with advanced gas analysis features, and the sensor is condensate-insensitive for detecting moist or wet gases. Software advancements or changes to flowmeter components could boost the device's reliability. For instance, Emerson introduced the Daniel T-200, a transducer with a titanium housing, in 2020 for their series of gas ultrasonic flow meters. To enhance the acoustic performance of ultrasonic flowmeters in custody transfer applications, it was created using metal 3D printing. Transducers also increased safety, uptime, and dependability. Such developments and new product launches boost the global ultrasonic flowmeter market.

Report Scope

Report Metric	Details
Market Size	USD 1.08 Billion by 2030
CAGR	5.1% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Transducer Type, Technology, End-Use Industry, Region
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Badger Meter Inc., Baker Hughes Company, Emerson Electric Co., Endress+Hauser AG, Faure Herman, Fuji Electric Co. Ltd., Honeywell International Inc., Krohne, Siemens AG, and Spectris PLC
Key Market Opportunities	New Product Developments
Key Market Drivers	Growing Preference for Ultrasonic Flowmeters The Rise in Demand for Wastewater Management

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Regional Insights

Region-wise, the global ultrasonic flowmeter market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor and is estimated to grow at a CAGR of 5.1%. The ultrasonic flowmeter market is driven by industrialization in various Asian nations. Due to their high industrial activity and rapid infrastructure development, countries in the Asia-Pacific region like China, India, Japan, Indonesia, and Vietnam are anticipated to present profitable prospects for the ultrasonic flowmeters market. There is still much room for oil and gas exploration in the sector, which would boost upstream oil and gas activity. Exploratory activities in India and China are expected to increase oil refineries' production, thus augmenting demand for ultrasonic flowmeters during the forecast period.

Europe is the second-largest and fastest-growing region. The Europe ultrasonic flow meter market is projected to reach USD 280 million by 2030, growing at a CAGR of 5.5%. In Europe, Germany, France, and the UK are the major industrial players that contribute significantly to the Europe ultrasonic flowmeter market. These countries are also investing proactively in the power generation sector based on hydroelectric and nuclear power. New power generation plants or new chemical manufacturing plants require the installation of flow measurement devices such as ultrasonic flowmeters, among other process instrumentation. Such developments tend to benefit the adoption of ultrasonic flowmeters during the forecast period.

North America is the third largest region. The North American ultrasonic flowmeter market is studied across U.S., Canada, and Mexico. These three countries are well-positioned to offer fresh opportunities for adopting ultrasonic flowmeters, owing to the rise in infrastructural developments and industrialization. The surge in demand for chemicals, power generation, and wastewater management is expected to expand plant capacities, thus requiring process instrumentation such as ultrasonic flowmeters.

Key Highlights

The global ultrasonic flowmeter market was valued at USD 690 million in 2021 and is projected to reach USD 1080 million by 2030, growing at a CAGR of 5.1% during the forecast period (2022-2030).
Based on transducer type, the global ultrasonic flowmeter market is segmented into spool piece, inline, clamp-on, and others. The clamp-on segment dominated the market and is estimated to grow at a CAGR of 6.1% during the forecast period. Portable clamp-on flowmeters can measure volume flow outside the pipe wall in industrial applications without requiring an inline operation. Since clamp-on can be installed temporarily or permanently without stopping the plant, this characteristic has expanded its demand in various end-use sectors.
By technology, the global ultrasonic flowmeter market is segmented into transit-time, Doppler, and hybrid. The transit-time segment was the highest contributor to the market and is estimated to grow at a CAGR of 5.5% during the forecast period. Developments in sensor technology used in ultrasonic flowmeters are expected to benefit this segment during the forecast period. Furthermore, an increase in the accuracy of fluid measurement is expected to boost demand for transit time ultrasonic flowmeters.
By end-user industry, the global ultrasonic flowmeter market includes water & wastewater management, oil & gas, chemical, power generation, pharmaceuticals, aerospace, and others. The oil & gas segment was the highest contributor to the market and is estimated to grow at a CAGR of 4.1% during the forecast period. The oil & gas industry, mainly the offshore sector, demands flowmeters that can operate at high pressure and in hazardous settings. The robust design of ultrasonic flowmeters allows them to satisfy the stringent specifications of local authorities. Additionally, they feature circuitry to adjust for variations in temperature and pressure, enhancing the precision and dependability of ultrasonic flowmeters. The oil and gas industry has seen a rise in demand for non-invasive flow measuring tools like ultrasonic flowmeters due to all the above mentioned considerations.

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The prominent players operating in the ultrasonic flowmeter market are

Badger Meter Inc.
Baker Hughes Company
Emerson Electric Co.
Endress+Hauser AG
Faure Herman
Fuji Electric Co. Ltd.
Honeywell International Inc.
Krohne, Siemens AG
Spectris PLC.

Global Ultrasonic Flowmeter Market: Segmentation

By Transducer Type

Spool piece
Inline
Clamp-on
Others

By Technology

Transit-time
Doppler
Hybrid

By End-Use Industry

Water & wastewater management
Oil & gas
Chemical
Power generation
Pharmaceuticals
Aerospace
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

TABLE OF CONTENT

Introduction
1. Market Definition
2. Market Scope
Research Methodology
1. Primary Research
2. Research Methodology
3. Assumptions & Exclusions
4. Secondary Data Sources
Market Overview
1. Report Segmentation & Scope
2. Value Chain Analysis: Ultrasonic Flowmeter Market
3. Key Market Trends
  1. Drivers
  2. Restraints
  3. Opportunities
4. Porter’s Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of Substitution
  4. Threat of New Entrants
  5. Competitive Rivalry
5. Market Share Analysis
Transducer Type Overview
1. Introduction
  1. Market Size & Forecast
2. Spool piece
  1. Market Size & Forecast
3. Inline
  1. Market Size & Forecast
Technology Overview
1. Introduction
  1. Market Size & Forecast
2. Transit-time
  1. Market Size & Forecast
3. Doppler
  1. Market Size & Forecast
Regional Overview
1. Introduction
  1. Market Size & Forecast
2. America
  1. North America
  2. U.S.
    1. By Transducer Type
    2. By Technology
  3. Canada
    1. By Transducer Type
    2. By Technology
  4. Mexico
    1. By Transducer Type
    2. By Technology
  5. Latin America
    1. By Transducer Type
    2. By Technology
3. Europe
  1. Market Size & Forecast
  2. Germany
    1. By Transducer Type
    2. By Technology
  3. France
    1. By Transducer Type
    2. By Technology
  4. U.K.
    1. By Transducer Type
    2. By Technology
  5. Italy
    1. By Transducer Type
    2. By Technology
  6. Spain
    1. By Transducer Type
    2. By Technology
  7. Rest of Europe
    1. By Transducer Type
    2. By Technology
4. Asia Pacific
  1. Market Size & Forecast
  2. Japan
    1. By Transducer Type
    2. By Technology
  3. China
    1. By Transducer Type
    2. By Technology
  4. Australia
    1. By Transducer Type
    2. By Technology
  5. India
    1. By Transducer Type
    2. By Technology
  6. South Korea
    1. By Transducer Type
    2. By Technology
  7. Rest of Asia-Pacific
    1. By Transducer Type
    2. By Technology
5. Middle East & Africa
  1. Market Size & Forecast
  2. Saudi Arabia
    1. By Transducer Type
    2. By Technology
  3. South Africa
    1. By Transducer Type
    2. By Technology
  4. Kuwait
    1. By Transducer Type
    2. By Technology
  5. Rest of Middle East & Africa
    1. By Transducer Type
    2. By Technology
Company Profile
1. Badger Meter Inc
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
2. Baker Hughes Company
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
3. Emerson Electric Co
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
Conclusion & Recommendation
Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/ultrasonic-flowmeter-market/toc

Market News

June 2022 - Carbon Management Canada (CMC) welcomes Emerson to its collaborative carbon capture, utilization, and storage (CCUS) program. The joint industry partnership program focuses on developing and implementing cost-effective, secure, and practical carbon capture and storage (CCS) solutions.

News Media

The Dynamic Shift from Traditional Sensors to Smart Sensors Will Drive the Industrial Sensors Market

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