“Global Ultrasonic Flow Meter Market was valued at $3 billion by 2029”, says Visiongain

23 September 2019
Utilities

Ultrasonic Flow Meter Market Report : Forecasts by Implementation Type (Clamp-On and Inline), Measurement Technology, Number of Paths (1 Path Transit-Time, 2 Path Transit-Time, and 3 and Above Path Transit-Time), End-User (Oil and Gas, Power Generation, Waste and Wastewater, Others), by Region and Analysis of Leading Companies indicates that the Global Ultrasonic Flow Meter Market was valued at $3 billion by 2029.

Energy markets development is a major driver of the worldwide market for ultrasonic flow meters. The variables that fuel global ultrasonic flow meter growth include increasing demand from custody transfer apps and latest multi-path meter development. Regulatory officials such as the American Gas Associations, the American Petroleum Institute and the International Organization of Legal Metrology are making a major contribution to the fast development of the industry.

The market for ultrasonic flow meters is segmented into  doppler, transit-time, and hybrid by measurement technology. Due to its bi-directional and accurate flow measurement benefits, the transit-time is anticipated to hold the biggest market share with the fastest increasing market. It accounts for 80–85 percent of the complete global market share. Compared to doppler and hybrid technology, this technology is cost efficient. It is mainly used for measuring the flow of liquid and gas by the oil & gas and water & sewage sector.

The market for ultrasonic flow meters is divided into oil & gas, water & wastewater, and energy generation by end-user. Due to the precision flow measurement requirement in custody transfer apps, the oil & gas segment is considered to be the fastest increasing market for ultrasonic flow meters. It also applies to inspection and pump testing, water injection and methanol metering, in-line meter verification and measurement of water.

Ultrasonic flow meter growth is largely linked to the custody transfer of natural gas by the multipath meters. As the best solution to oil and petroleum liquids, natural gas is a prospective market that helps to gain traction in the worldwide ultrasonic flow meters market. Due to the reliability and non-availability of moving components, ultrasonic flow meters are gaining momentum in the flow meter industry.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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