NEWARK, Del, Oct. 01, 2023 (GLOBE NEWSWIRE) -- The global ultrasonic flowmeters market value is expected to increase from US$ 735.5 million in 2023 to US$ 1.2 billion by 2033. Over the forecast period, global sales of ultrasonic flowmeters are anticipated to surge at 4.8% CAGR.
The transit-time technology segment is expected to dominate the global market through 2033. This is due to the rising adoption of transit-time ultrasonic flowmeters in a wide range of applications. The target segment is set to thrive at 4.5% CAGR during the assessment period.
Several factors are expected to stimulate growth in the ultrasonic flowmeter market. These include rising demand for accurate and non-invasive flow measurement devices, high adoption of automation, and robust industrial growth.
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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,” – opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.
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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
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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