A recent report published by Infinium Global Research on ultrasonic flow meter market provides in-depth analysis of segments and sub-segments in the global as well as regional ultrasonic flow meter market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional ultrasonic flow meter market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global ultrasonic flow meter market. According to the report, the global ultrasonic flow meter market is projected to grow at a Healthy CAGR over the forecast period of 2019-2025.
In manufacturing industries, verifying flowmeter accuracy is an ongoing requirement to ensure that the meter used is within the stated accuracy of the manufacturer. Ultrasonic flow meters are used in industries as technology improves and understanding of the devices and their potential application spreads. It is a very promising instrument for pipe flow measurement in process control, flow survey, custody transfer, etc. This technology can be very accurate and is used for custody transfer of natural gas and petroleum liquids. To capture significant market share, the manufacturers in the ultrasonic flow meter market are focusing on competitive pricing. Moreover, other key focus areas of the manufacturers are strategic merger and acquisitions and technological innovations.
Growing demand in oil & gas and water & wastewater industries is the major driving factor of the ultrasonic flow meter market. Furthermore, factors such as growing demand from the custody transfer applications and the recent development of multipath meters are driving the growth of the market. Ultrasonic flow meters are applicable for various kinds of liquid, even if the chemical liquid, oil, etc., and it is not influenced by the medium status. The approval of standards by the regulatory authorities such as American Gas Associations, American Petroleum Institute and International Organization of Legal Metrology is fueling the growth of the market. However, the high cost of ultrasonic flow meter restrains the market growth. Moreover, the rising demand for smart and intelligent flow meters are expected to provide growth opportunities to the market.
Geographically, Asia-Pacific dominates the global ultrasonic flow meter market due to increasing demand for high quality and reliable tools from a wide range of industries, increased demand from the oil & gas and water treatment applications. Further, factors such as industrial development growth, water recycling facilities, and processes are driving the growth of the ultrasonic flow meter market in this region. Europe is the second largest market for ultrasonic flow meters.
The report on global ultrasonic flow meter market covers segments such as implementation type, measurement technology, number of paths, and end-user. On the basis of implementation type, the sub-markets include clamp-on, inline, and other measurement technologies. On the basis of measurement technology, the sub-markets include transit-time, Doppler, and hybrid. On the basis of number of paths, the sub-markets include 1 path transit-time, 2 path transit-time, and 3 & above path transit-time. On the basis of end-user, the sub-markets include oil & gas, power generation, water & wastewater, and other end-users.
The report provides profiles of the companies in the market such as The Danfoss Group, ELIS PLZEN a. s., Honeywell International Inc., Schneider Electric SE, Cameron International Corporation, Siemens AG, Titan Enterprises Ltd, Emerson Electric Co., Endress+Hauser Management AG, KROHNE Group, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ultrasonic flow meter market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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