Ultrasonic Flow Meter Market to Receive Overwhelming Hike in Revenues by 2019-2024

The ultrasonic flow meter market is projected to reach USD 2.1 Billion by 2024 from an estimated USD 1.5 Billion in 2019, at a CAGR of 6.5%. The growth of this market is driven by the rise in shale gas exploration activities in the US and increasing green field investments in China. The ultrasonic flow meter is used to determine the velocity of a fluid flowing in a pipe using sound waves. It helps in accurate measurement, high temperature resistance, and low maintenance cost. It can also be used when there are air bubbles and solid particles in the fluid stream which blocks the sound wave reaching across the pipe to measure its transit- time.

Asia Pacific is estimated to be the largest growing market for ultrasonic flow meters during the forecast period. The market has been segmented, by region, into Asia Pacific, Europe, the Middle East & Africa, North America, and South America. The growth the Asia Pacific region is primarily driven due to the countries such as China, India & Japan. The number of investments in the water & wastewater, energy and power, refining, chemicals, and industrial infrastructure activities is increasing in the developing economies such as China and India which drives the demand for measuring instruments, which has contributed significantly to the growth of the ultrasonic flow meter market in this region.

Market Dynamic:


  • Need for Accurate Measurement
  • Growing Demand in Oil & Gas and Water & Wastewater Industries
  • Ease of Operation


  • High Initial Cost of Ultrasonic Flow Meters
  • Inaccurate Measurements in the Vertically Downward Flow Line


  • Increasing Demand for Smart and Intelligent Flow Meters


  • Lower Adoption Rate Compared to Traditional Flow Meters

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The ultrasonic flow meter market, by implementation type, is segmented into clamp-on, inline, and others (wall-mounted & hand-held). The clamp-on is the largest market and is projected to grow at the highest CAGR during the forecast period. Clamp-on ultrasonic flow meter measures the flow without any interruption in the process which is expected to drive its demand. The inline segment, by implementation type, is the second largest market because of the demand for precise flow measurement by industries such as oil & gas and water & wastewater.

The ultrasonic flow meter market, by measurement technology, is segmented into transit-time, doppler, and hybrid. The transit-time is the largest market and is projected to grow at the highest CAGR during the forecast period because of its bi-directional and precise flow measurement advantages.

The ultrasonic flow meter market, by number of paths, is segmented into 1 path transit-time, 2 path transit-time, and 3 and above path transit-time. The 1 path transit-time is accounted to be the largest market for ultrasonic flow meter because of its cost-effective flow measurement. Major end-users for 1 path transit-time are water & wastewater, food manufacturing, and power generation industries. Some of the key players for 1 path transit-time are Endress+Hauser, Fuji Electric, and Emerson.

The report segments the ultrasonic flow meter market, by end-user, into oil & gas, power generation, water & wastewater, and others (chemical, food & beverage, pharmaceutical, and paper & pulp industries). The oil & gas is accounted to be the largest market for ultrasonic flow meter because of its precise flow measurement and other applications such as pump testing & inspection, methanol & water injection metering, verification of in-line meters, and water measurements. Power generation is projected to grow at the second fastest CAGR because of the ease of operation of ultrasonic flow meters in power plants which is likely to increase its demand.

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The ultrasonic flow meter market is dominated by a few major players that have a wide regional presence. Some of the leading players in the ultrasonic flow meter market are Siemens, Emerson, KROHNE, GE, and Honeywell.

The major strategies adopted by the players include new product launches, mergers & acquisitions, contracts & agreements, investments & expansions, and collaborations. New product launches was the most commonly adopted strategy from January 2016 to April 2019. The second most adopted strategy was mergers & acquisitions during the same period.

Siemens (Munich, Germany) is a German conglomerate that focuses on the fields of electrification, automation, and digitalization. It conducts operations through 8 business segments, namely, power and gas, healthineers, energy management, digital factory, mobility, Siemens Gamesa renewable energy, process industries and drives, and building technologies.

Emerson (US) is one of the leading manufacturers and innovative solution providers for industrial and commercial market. The company operates through 2 business segments, namely, automation solutions and commercial & residential solutions. It provides ultrasonic flow meter market under the automation solutions business segment, which accounted for a 65.7% share of the company’s total revenue in 2018.

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