Ultrasonic flow meters measure the velocity of a fluid with ultrasound to calculate the volume flow. Transmission flow meter, open-channel flow meter, and Doppler flow meter are three types of ultrasonic flow meters. Ultrasonic flow meters are used to measure liquids that allow passing of the ultrasonic waves such as molten, water, sulfur, chemicals, and cryogenic liquids.
Ultrasonic flow meters are finding wide application across industries such as water and wastewater, oil and gas, chemicals, power, pharmaceutical, food and beverages, pulp and paper, and metals and mining.
Manufacturers in the ultrasonic flow meter market are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic merger and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Established in 1906, Honeywell International Inc. is located in the US. The company provides consumer and commercial products, aerospace systems, and engineering services. It also provides automotive products, turbochargers, process technology for petrochemical and refineries, advanced materials, and energy efficient solutions and products.
Founded in 1836, Schneider Electric SE is located in France. The company manufactures automation and energy management solutions. It operates through four businesses including medium voltage, low voltage, industrial automation, and secure power. In 2018, Schneider Electric acquired electrical and automation business from Larsen & Toubro in India.
Founded in 1920, Cameron International Corporation is located in the US. The company provides processing, pressure control, flow control, compression systems along with the aftermarket services and project management for oil and gas and process industries. The company also provides offshore and onshore platform wellhead system and processing solutions including actuators, valves and chokes.
Established in 1953, Endress+Hauser AG is located in Switzerland. The company provides measurement instruments, automation solutions, and services for the industrial processing engineering in Asia Pacific, Africa, Europe, the Americas, and the Middle East. The company also offers flow metering, field network engineering, analytical solutions, and plant asset management solutions.
Upgradation and Modernization of Refineries to Propel Demand for Ultrasonic Flow Meters
Ultrasonic flow meters are extensively used in the oil refineries, especially in crude oil metering. The need to measure crude oil at various steps during its movement from extraction to the production facility is driving demand for ultrasonic flow meters. Moreover, existing oil refineries are increasingly focusing on upgradation and modernization of refineries which will result in the growing demand for ultrasonic flow meters.
Developing nations across the globe are increasingly investing in the development of refineries. For instance, BPCL, EIL, IOC, and HPCL have announced developing the biggest refinery in India on the west coast which is projected to cost US$ 30 billion. Rise in the capacity of refineries in developing countries is likely to boost the demand for ultrasonic flow meters.
Manufacturers Developing Portable and Handheld Ultrasonic Flow Meters
Manufacturers in the ultrasonic flow meter market are focusing on providing industry-the specific solutions. New ultrasonic flow meters are being developed with the features as per the requirement of specific industry. Meanwhile, handheld ultrasonic flow meters are finding wide application in measuring dirty fluids and slurries for the chemical, water treatment, and food processing industries.
Manufacturers are also focusing on developing portable ultrasonic flow meters using both transit time and Doppler technologies to measure flow and velocity of liquids. These portable ultrasonic flow meters are witnessing huge demand from the petrochemical and refinery industries to carry survey work in remote locations.
Meanwhile, in recent years, solar-powered ultrasonic flow meters have also gained traction owing to the increasing disparities between the demand and supply of electricity.
Availability of Broad Range of Flow Meters to Impact Ultrasonic Flow Meter Market
One of the key factors impacting the growth of the ultrasonic flow meter market is the availability of a wide range of flow meters used across various industries. Moreover, manufacturers in various industries who are using traditional flow meters are avoiding bearing the possible risk and switch to the latest flow meter technologies.
This attitude of manufacturers is restraining the adoption and growth of ultrasonic flow meters. However, manufacturers in the ultrasonic flow meter market are focusing on showing the benefits of using ultrasonic flow meters across industries.
The report on the ultrasonic flow meter market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global ultrasonic flow meter market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with ultrasonic flow meter market attractiveness as per segments. The report also maps the qualitative impact of various factors on ultrasonic flow meter market segments and geographies.
Based on the type, the ultrasonic flow meter market is segmented into
Based on the technology, the ultrasonic flow meter market is segmented into
Based on the fluid type, the ultrasonic flow meter market is segmented into
Based on the number of paths, the ultrasonic flow meter market is segmented into
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Based on the customer type, the ultrasonic flow meter market is segmented into
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