It is anticipated that the value of the worldwide ultrasonic flowmeter market would rise from US$ 735.5 million in 2023 to US$ 1.2 billion by 2033. Global sales of ultrasonic flowmeters are expected to rise at a 4.8% CAGR during the projected period.
Through 2033, the transit-time technology sector is anticipated to lead the worldwide market. This is because transit-time ultrasonic flowmeters are increasingly being used in a variety of applications. Over the course of the assessment period, the target segment is expected to grow at a 4.5% CAGR.
The market for ultrasonic flowmeters is anticipated to increase as a result of many factors. These include strong industrial expansion, widespread automation adoption, and an increase in the need for precise and non-invasive flow measuring instruments.
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Ultrasound flowmeters are devices used to measure the flow rate of fluids by utilizing ultrasonic sound waves. Their versatility and high accuracy are gaining wider popularity across industries like oil & gas, chemicals, and water & wastewater.
The non-invasive nature of ultrasonic flowmeters encourages their adoption in applications requiring proper hygiene. These flowmeters do not need any contact with the fluid, eliminating contamination risk.
Rising water scarcity is expected to direct new water and wastewater infrastructure investments. This, in turn, is set to fuel demand for ultrasonic flowmeters as they play a key role in water treatment and distribution systems.
Implementing stringent government regulations will likely bolster ultrasonic flowmeter sales through 2033. Ultrasonic flowmeters can be employed to monitor and measure the flow of liquids, which helps industries to comply with stringent regulations.
Other factors expected to create growth opportunities for ultrasonic flowmeter manufacturers include rapid expansion of the renewable energy sector and high adoption of automation. With these dynamics, the target market is set to expand 1.6X through 2033.
Key Takeaways from the Ultrasonic Flowmeters Market Report:
- The global ultrasonic flowmeters industry is estimated to reach US$ 1.2 billion by 2033.
- By transducer type, clamp-on segment is set to progress at 4.6% CAGR through 2033.
- Based on technology, transit-time segment is poised to exhibit a CAGR of 4.5%.
- Sales revenue in the United States is forecast to reach US$ 207.3 million by 2033.
- Japan market is anticipated to expand at 6.0% CAGR between 2023 and 2033.
- China market size is expected to reach US$ 177.2 million by 2033.
- South Korea market is projected to thrive at 6.1% CAGR through 2033.
- Demand in the United Kingdom is set to rise at a CAGR of 5.0% through 2033.
“The non-invasive nature and high accuracy of ultrasonic flowmeters are expected to fuel their adoption across several industries, thereby driving market growth. To increase their customer base and sales, key players are concentrating on developing new portable and smart flow measurement solutions,”
Who is Winning?
Badger Meter, Inc., Eastern Energy Services Pte Ltd, CMC Technologies Pty Limited, Bronkhorst High-Tech B.V., Eastech Flow Controls, ELIS PLZEN a. s., Danfoss A/S, and Emerson Electric Company are top ultrasonic flowmeter manufacturers profiled in the report.
These key players are constantly launching new and enhanced flow measurement solutions for a wide range of applications. They also employ strategies such as acquisitions, mergers, partnerships, collaborations, agreements, and alliances to expand their footprint.
Recent Developments in Ultrasonic Flowmeters Market:
- In August 2023, a new clamp-on ultrasonic flow meter for liquids in small pipes was launched by Fuji Electric.
- In January 2023, Badger Meter, Inc. acquired Syrinix, a leading provider of intelligent water monitoring solutions.
- In April 2020, Fuji Electric Corp. of America unveiled a new UltraSonic Flow Meter.
Restraints:
Despite its promising growth prospects, the market faces certain restraints, including technological limitations and regulatory challenges. Companies in the ultrasonic flowmeters sector must navigate these hurdles while maintaining product innovation and quality.
Region-wise Insights – Category-wise Insights:
Regionally, diverse markets present varying demands and challenges. Understanding the nuances of each region is crucial for businesses operating in the ultrasonic flowmeters sector. Additionally, specific industry categories within the market require tailored approaches for success. A comprehensive market analysis can provide valuable insights to guide market participants.
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Segmentation in Ultrasonic Flowmeters Market Research Report
By Transducer Type:
- Clamp-On
- Inline
- Spool Piece
- Other Transducer Types
By Technology:
- Transit-time
- Hybrid
- Doppler
By Application:
- Oil & Gas
- Water & Wastewater Management
- Chemical
- Pharmaceuticals
- Power Generation
- Other Applications
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
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