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Ultrasonic Flow Meter Market

Market Study on Ultrasonic Flow Meters: Rising Application in Power Generation and Oil & Gas Sectors

Global Ultrasonic Flow Meter by Type (Inline Ultrasonic Flow Meters, Clamp-On Ultrasonic Flow Meters, and Insertion Ultrasonic Flow Meters)

Ultrasonic Flow Meter Snapshot

[328 Pages] According to Persistence Market Research, the Ultrasonic Flow Meter revenue totalled US$ 1,954.6 Mn for 2022. In 2022, the top 5 market participants will hold a sizeable portion of the Ultrasonic Flow Meter market, increasing demand for Ultrasonic Flow meters. The overall Ultrasonic Flow Meter is expected to reach US$ 3,940.3 Mn by 2033, growing at a CAGR of 6.6% from 2023 to 2033.

A meter used to measure liquid velocity with ultrasound to calculate the amount of liquid flow is characterized as an ultrasonic flow meter. A bubble or tiny particles in the liquid flow are necessary for this volumetric flow meter. However, they won't function with drinking or distill water. This kind of flow meter is perfect for applications where chemical compatibility, ease of maintenance, and minimal pressure drop are essential, and in wastewater applications. The need for precision in process industries, the growing need for flow measurement during custody transfers, i.e. transfer of physical substances from one part to another in the oil and gas industry, and various advantageous factors of ultrasonic flowmeters over other types of flowmeters are the main factors propelling the global ultrasonic flow meter market.

Attributes Key Insights

Global Ultrasonic Flow Meter Size (2022A)

US$ 1,954.6 Mn

Global Ultrasonic Flow Meter Size (2023E)

US$ 2,079.5 Mn

Projected Ultrasonic Flow Meter Value (2033F)

US$ 3,940.3 Mn

Value CAGR (2023-2033)

6.6%

Collective Value Share: Top 3 Countries (2023)

26.4%

The global Ultrasonic Flow Meter accounts for ~ 25 to 30% of its parent market of the flow meter market.

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Demand Analysis of Ultrasonic Flow Meter from 2017 to 2022 Vs Market Outlook for 2023 to 2033

From 2017 to 2022, the market for Ultrasonic Flow Meter increased at a 3.2% CAGR and is projected to grow at a value of a CAGR of 6.6% in the forecast period 2023 to 2033. The replacement of flowmeter with ultrasonic flow meter as a better alternative over other traditional type of flow meter technologies in the oil & gas industry is expanded in the recent years, which accelerated the growth of the Ultrasonic Flow Meter market in the historic period. As a result, major producers of ultrasonic flowmeter are adapting modern business plans to match the industrial requirement of flow meter in order to keep up with the pace of the industrial operation.

Ultrasonic technology, which is time-tested and dependable, is utilised in a wide range of industries and applications to measure flow for a number of materials and applications. As they are non-intrusive, don't include any moving components, and can be installed without shutting down the process, ultrasonic flowmeters are perfect for retrofit applications in number of industries like oil & gas industry, food & beverages industry, paper industry, mining & metal industry and various type of refineries. Industrial organization understand the potential benefit of connected devices and work out how to use them efficiently for improved resource tracking and monitoring. This increases the demand for ultrasonic flow meter extensively in the end use industries. This factor is anticipated to boost the market to reach US$ 3,940.3 Mn by the end of 2033, in contrast with the market of US$ 1,671.2 Mn in the year 2017.

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What are the drivers for the Ultrasonic Flow Meter?

The incorporation of IoT, and advancements in technologies like wireless monitoring and control, cutting-edge sensors, and digital readouts have led to the development of smart measurement solutions, which are likely to drive demand for intelligent systems over the next few years. Ultrasonic flowmeters are in high demand due to their improved smart capabilities to measure the rate more precisely. Automatic meter reading is made possible by the sophisticated IoT technique, which collects data remotely and automatically. The demand for ultrasonic flow meters is rising rapidly as a result of such technologically improved product offerings, which boosts the global market for Ultrasonic Flow meters.

In oil refineries, ultrasonic flow meters are widely utilized, particularly for measuring crude oil. The need for ultrasonic flow meters is being driven by the requirement to quantify crude oil at various stages of its journey from extraction to production facility. Additionally, existing oil refineries are putting more emphasis on improving and modernizing their facilities, which will lead to an increase in the consumption of ultrasonic flow meters. The availability of a wide variety of flow meters used in different sectors is one of the major factors affecting the growth of the ultrasonic flow meter market. In addition, manufacturers in numerous industries that currently use conventional flow meters are switching to the newest flow meter technologies to avoid potential risks. These all factors are driving the global Ultrasonic Flow Meter market.

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What are the Key Opportunities for Ultrasonic Flow Meter Manufacturers across the Globe?

The rapid global development of the oil & gas industries is creating lucrative opportunities to lead to a large increase in the consumption of ultrasonic flow meters. To calculate the viscosity and flow rate of liquids, the oil and gas industry frequently uses ultrasonic flow metering equipment. In addition, to this, developing global refineries, the food & beverages industry, the paper & pulp industry, mining industries are also producing a tremendous opportunity for market growth.

Worldwide regular use of water in the residential, commercial and industrial sectors in tremendous quantity leads to a rapid expansion of the global wastewater treatment industry. Ultrasonic type of flowmeter is used in the wastewater treatment sector to measure the flow of effluents and chemical doses. Similarly, the rise in the power generation industry creates an opportunity for product demand. The coal-fired boiler’s mill air flow in the power generation industry needs to be measured and controlled for optimal operation. For this purpose, this industry needs an ultrasonic flowmeter for perfect metering and monitoring activity. Thus, the expansion of various industrial end-use sectors creates a rise in demand for ultrasonic flow meters and produces an opportunity for manufacturers to increase their share in the market.

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Country-wise Analysis

How is the US market for Ultrasonic Flow meters likely to explode?

The U.S. is one of the most lucrative markets for Ultrasonic Flow Meters in the North America region, and it is hold around 14.8% value share of the global Ultrasonic Flow Meter.

The existence of highly developed end-use sectors in the nation is the cause of such enormous sales. Additionally, the U.S. has a sizable manufacturing sector that caters to a variety of end-use industries that need ultrasonic flow meter solutions. For instance, according to ‘ceicdata’, Oct 2022 saw a 3.3% YoY growth in US industrial production, following a 5.0% YoY increase in September 2022. This growth and industrial expansion increase sales of ultrasonic flow meters in the country.

Where Does China stand in the market for Ultrasonic Flow Meters?

In 2023, Ultrasonic Flow Meter demand in China is anticipated to grow at a 6.4% CAGR. Across the East Asia region, China is expected to hold a prominent share of the global market during the forecast period of 2023–33.

The number of investments from China government in various end-use sectors like the energy and power industry, refining, chemicals, water & wastewater industry, and other industrial infrastructures has been increasing over the years. Similarly, there are a lot of local competitors in the market owing to major competition in the local country’s market. Key manufacturers of ultrasonic flow meters are investing more in the market to build regional manufacturing hubs and partner with or acquire regional companies.

What is the Outlook for the Ultrasonic Flow Meter in India?

India is anticipated to expand at a CAGR of 6.4% from 2023 to 2033. Throughout the forecast period of 2023–2033, India is anticipated to hold a significant share of the global market.

The rapid industrial development in India creates a better environment for ultrasonic flow meter market growth. According to ‘Insights on India’, the manufacturing sector of India has the potential to reach US$ 1 trillion by 2025. For instance, The Indian government has launched several initiatives to support a favorable environment for the development of the manufacturing sector in the nation, which is the reason behind the market expansion of ultrasonic flow meters in the country.

Category-wise Insights

Which Type of Ultrasonic Flow Meter remains Significant?

The Clamp-On Ultrasonic Flow Meters segment leads the Ultrasonic Flow Meter by type and it is having a value share of 49.8% in the global market.

Clamp-on ultrasonic flowmeters are becoming more popular as a result of their low maintenance requirements, extended lifespans, and simplicity of integration with cutting-edge technology. The development of advanced sensor technology is also anticipated to have a significant effect on the demand for clamp-on ultrasonic flowmeters.

Which application segment accounts for Higher Sales in the Ultrasonic Flow Meter?

The Oil and Gas industry segment dominates the global Ultrasonic Flow Meter by application and is expected to hold its position until the end of the forecast period, having a value share of 19.8%.

The identification of fluid change (oil and water) from each unique sonic speed and control of tanker loading and unloading are two major uses of the ultrasonic flow meter in the oil and gas industry. Additionally, this flowmeter can be used to measure the volumetric flow of conductive liquids, including slurries and compounds that are caustic or abrasive. These characteristics of ultrasonic flowmeters indicate their usefulness for the oil and gas industry, resulting in increased sales in this specific application.

Competitive Landscape

The industry leaders possess a share of the global ultrasonic flow meter market that ranges from 25% to 30%. Market players are collaborating extensively with end users and competing to increase their geographic reach. Innovation, teamwork with other players, partnerships, strategic alliances, and the bolstering of regional and international distribution networks are key strategies in global market expansion.

Some of the key developments are:

  • In February 2019, KROHNE launched the OPTISONIC 7300 biogas ultrasonic flowmeter for the measurement of dry and wet (raw) biogas with variable composition.
  • In May 2020, Fuji Electric India Pvt. Ltd. announced the launch of a new Clamp-on type Ultrasonic Flow Meter for Saturated Steam.

Ultrasonic Flow Meter Industry Report Scope

Attribute Details

Forecast Period

2023-2033

Historical Data Available for

2017-2022

Market Analysis

  • US$ Mn for Value
  • Units for volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Type
  • Technology
  • Output Display
  • Application
  • Region

Key Companies Profiled

  • General Electric
  • Emerson Electric Co.
  • Greyline Instruments
  • Honeywell International Inc.
  • OMEGA Engineering Inc.
  • Proflow
  • Siemens AG
  • Endress+Hauser Management AG
  • Hontzsch GmbH & Co. KG
  • KRONE Group
  • UFM bv
  • FLEXIM
  • MIB GmbH
  • Pietro Fiorentini S.p.A
  • KOBOLD Messring GmbH
  • Energoflow AG
  • Fuji Electric Co., Ltd.
  • HONDA Electronics Co., Ltd.
  • Tokyo KEISO Co., Ltd.
  • Tokyo Keiki
  • Dynaflox Shanghai Co., Ltd.

Pricing

Available upon Request

Key Segments Covered in Ultrasonic Flow Meter Industry Research

By Type

  • Inline Ultrasonic Flow Meters
  • Clamp-On Ultrasonic Flow Meters
  • Insertion Ultrasonic Flow Meters

By Technology

  • Transit Time-Single/Dual Path Ultrasonic Flow Meters
  • Transit Time-Multi Path Ultrasonic Flow Meters
  • Doppler Ultrasonic Flow Meters
  • Hybrid Ultrasonic Flow Meters

By Output Display

  • Analog Ultrasonic Flow Meters
  • Digital Ultrasonic Flow Meters

By Application

  • Chemicals
  • Food and Beverages
  • Metals and Mining
  • Oil and Gas
  • Pharmaceuticals
  • Power Generation
  • Pulp and Paper
  • Refining and Petrochemicals
  • Water and Waste Water
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

- Companies Covered in This Report -

  • General Electric
  • Emerson Electric Co.
  • Greyline Instruments
  • Honeywell International Inc.
  • OMEGA Engineering Inc.
  • Proflow
  • Siemens AG
  • Endress+Hauser Management AG
  • Hontzsch GmbH & Co. KG
  • KRONE Group
  • UFM bv
  • FLEXIM
  • MIB GmbH
  • Pietro Fiorentini S.p.A
  • KOBOLD Messring GmbH
  • Energoflow AG
  • Fuji Electric Co., Ltd.
  • HONDA Electronics Co., Ltd.
  • Tokyo KEISO Co., Ltd.
  • Tokyo Keiki
  • Dynaflox Shanghai Co., Ltd.

- Frequently Asked Questions -

The global Ultrasonic Flow Meter is estimated to be valued at over US$ 2,079.5 Mn as of 2023.

Ultrasonic Flow Meters are projected to increase at 6.6% CAGR and are expected to be valued at around US$ 3,940.3 Mn by 2033 end.

General Electric, Emerson Electric Co., Greyline Instruments, Honeywell International Inc., OMEGA Engineering Inc., Proflow, Siemens AG, Endress+Hauser Management AG, Hontzsch GmbH & Co. KG, KRONE Group, UFM bv, FLEXIM, MIB GmbH, Pietro Fiorentini S.p.A, KOBOLD Messring GmbH, Energoflow AG, Fuji Electric Co., Ltd., HONDA Electronics Co., Ltd., Tokyo KEISO Co., Ltd., Tokyo Keiki, Dynaflox Shanghai Co., Ltd, etc.

Germany, China, U.S., India, and Japan are driving most of the demand for Ultrasonic Flow Meter.

China, the U.S., and Germany are major producers and exporters of Ultrasonic Flow Meter.

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