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Global In-Line Transit Time Ultrasonic Flowmeter Market by Technology (Single / Dual Path, Multi Path) by Liquid and Gas Flow Measurement
[270 Pages] According to Persistence Market Research, the In-Line Transit Time Ultrasonic Flowmeter market will generate US$ 415.3 million revenue by 2023. The growth of the market can be attributed to the increasing demand for In-Line Transit Time Ultrasonic Flowmeter from the oil & gas industry, power generation, chemical and food processing industries across the globe. The oil and gas end-use segment is projected to lead the global In-Line Transit Time Ultrasonic Flowmeter market during the forecast period. The growth of this segment can be attributed to its huge number of applications and the necessity of the equipment to fluid flow measurement. The global market for In-Line Transit Time Ultrasonic Flowmeter is expected to reach US$ 757.9 million by 2033, growing at a CAGR of 6.2% between 2023 and 2033.
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Global In-Line Transit Time Ultrasonic Flowmeter Market Size (2022A) |
US$ 393.4 Mn |
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Global In-Line Transit Time Ultrasonic Flowmeter Market Size (2023E) |
US$ 415.3 Mn |
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Projected In-Line Transit Time Ultrasonic Flowmeter Market Value (2033F) |
US$ 757.9 Mn |
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Value CAGR (2023-2033) |
6.2% |
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Collective Value Share: Top 3 Countries (2022) |
29.4% |
In numerous process monitoring, instrumentation, and control applications across a wide range of technology and science. The most often used equipment for measuring flow is the In-line transit time ultrasonic flowmeter. Since the invention of the first of its kind, there have been significant developments in wave reflection techniques like Doppler and transit-time, as well as mounting technology for entirely non-invasive and non-intrusive measurements. The application of In-line transit time ultrasonic flowmeter for diverse flow types, including sediment-laden, viscous, and slurry flow in various pipe sizes and end-users under fully and partially filled situations has been demonstrated.
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From 2017 to 2022, the global In-Line Transit Time Ultrasonic Flowmeter market was reported to expand at a CAGR of 4.8%. In the past, issues with product quality and durability, compatibility with particular types of fluids, and price issues have all plagued the market for in-line transit time ultrasonic flow metres. However, the industry accelerated as businesses introduced cutting-edge items and end customers had easier access to them globally. Manufacturing has improved its production capacity and is now implementing Industry 4.0 standards, which had caused the market to grow at a CAGR of more than 4.8% over the past six years.
It is projected that research and developments in in-line transit time ultrasonic flow metres would significantly affect the market in upcoming years. Companies try to give the end-user specific solutions by considering their requirements in order to improve their goods and overcome shortcomings of other types of flow metres. Numerous further new features offered by both established and developing businesses are anticipated to draw clients from related industries as well. The market for In-Line Transit Time Ultrasonic Flowmeter is anticipated to expand at a 6.2% CAGR between 2023 and 2033. The market is expected to grow from US$ 415.3 million in 2023 to US$ 757.9 million by 2033.
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Get a Customized VersionThere is a rising need for cutting-edge flow metering technology to satisfy the requirements of renowned industrial sectors. For instance, the demand for metering devices from power generation, oil and gas industries, food and beverage industries, chemicals, manufacturing units, etc., has witnessed a commendable increase in the past and is anticipated to increase even higher in the years to come. In result of this, it is anticipated that this crucial factor will significantly fuel the global in line transit time ultrasonic flowmeter market.
Due to the substantial increase in population leading to increased requirements of fossil fuels, exploration of shale gas is taking place at an unprecedented rate. This will lead to the establishment of new extractions units for oil wells, which will lead to increased sales of In-Line Transit Time Ultrasonic Flowmeters. Strongest growth is forecasted in emerging markets such as the Middle East. This is not surprising, given the region’s recent crude oil discovery in Abu Dhabi, which will lead to demand creation in the forecast period. Asia Pacific is another emerging market because of the growing oil and gas industry in the region.
In many developing nations, the water supply must be maintained secure throughout the Covid-19 due to the danger of virus transmission that can quickly grow through sewage water, according to standards established by the World Health Organization (WHO). The adoption of biological wastewater treatment systems thereafter began to become the standard, transforming the so-called niche market for in-line transit time ultrasonic flow metres into a trendsetter among wastewater treatment facilities. During this outbreak, government organisations and non-profit organisations from many different countries are collaborating to raise awareness about water security and protection. These factors helped to enhance demand for in-line transit time ultrasonic flow metres even throughout the outbreak.
Almost all human activities that include water produce waste. The volume of wastewater produced and the environmental pollutant load develop together with the increase in world water demand. Most of the world's open channels sludge and effluent systems are used for other purposes. Industries treat wastewater using in-line transit time ultrasonic flowmeters and level transmitters.
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A major factor hampering the performance of the in-line Transit Time Ultrasonic Flowmeter market is that the flow meter can measure most accurately the entities of clean liquids. The ability to measure accurately in numerous kinds of liquids and gases is yet in development. This demerit is likely to affect the sales of in-line Transit Time Ultrasonic Flowmeters. There are various factors that can affect the results of in-line Transit Time Ultrasonic Flowmeters, such as the type of fluid being measured, the corrosiveness of the fluid, its purity, etc.
Global oil prices have been on the decline. Companies engaged in the production of oil are seeing a drop in earnings, profits, and operating margins as prices fall. As a result, capital investments in infrastructure projects related to the oil and gas industry have decreased. As a result, this can have a negative effect on the oil and gas industry's adoption of in-line transit time ultrasonic flow meters.
Where Does the U.S. Stand in the Global Market for In-Line Transit Time Ultrasonic Flowmeter?
In 2022, the demand for In-Line Transit Time Ultrasonic Flowmeter in the United States is expected to be around 14.8% of the global market. Throughout the projection period of 2023–2033, the U.S. is anticipated to hold a significant share of the market in North America.
Due to significant sales of in-line transit time ultrasonic flow metres in the U.S. during the past few years, numerous market participants have introduced new and better designs that require little to no maintenance. Manufacturers are now introducing products that are long lasting and require little upkeep. The United States is a major market for in-line transit time ultrasonic flow metres since it also contains small to medium-sized producers and is easily accessible for their after-sales support. Moreover, in the U.S., there are many end user markets, which keeps the businesses for in-line transit time ultrasonic flow meter at a good pace.
What is the Outlook for Germany In-Line Transit Time Ultrasonic Flowmeter market?
Over the projection period, the demand in Germany is anticipated to grow at a CAGR of roughly 6.4% in the German market and has 3.3% of the total market value share globally.
German producers are taking the lead in the industry by offering what consumers want right now. The production of biogas and bio-methane has increased recently, and flow measurement has become essential in this process. Devices that can last and provide accurate results are now required, and demand for in-line transit time ultrasonic flow metres has been rising in Germany and neighbouring countries in recent years. Due to growing popularity and public awareness of environmentally friendly energy sources, this trend will continue to drive sales in the years to come.
Which Application Type is More Popular for Use in In-line transit time ultrasonic flow meter?
In-line transit time ultrasonic flow metres are used in a number of end-user industries, including metals and mining, pulp and paper, oil and gas, water and wastewater, power, chemical, food and beverage, and pharmaceutical, to measure various types of liquids and gases. The measurement of liquid flow the most typical use of these is for in-line transit time ultrasonic flow metres. Liquid flow measurement has dominated all other varieties of in-line transit time ultrasonic flow metres since the invention of these devices. Sales of liquid flow in-line transit time ultrasonic flow metres increased further as newer, more advanced flow metres with the features and technology required by industry were developed.
Gas flow measurement segment is expected to grow at a significant CAGR owing to the precise measurement of gas properties such as mass flow rate, velocity and others. The liquid flow measurement application segment is anticipated to grow consistently during the forecast period 2023-2033 and it is estimated to have around 59.6% of the total market share in 2023. Between 2023 and 2033, the forecast period, it recorded a CAGR of 5.9%.
Which End-Use drives most demand for In-line Transit Time Ultrasonic Flow meter?
The market share of in-line transit time ultrasonic flow meter from oil and gas industry is significant. It accounts up to half of the market share in terms of value. The fact that oil and gas can effectively conduct ultrasonic waves is what accounts for the enormous number of sales, and the need for accurate measurement tools in a field where every ounce counts has driven demand for in-line transit time ultrasonic flow metres. Another factor driving up sales is the trend toward automation in many industries, which in-line transit time ultrasonic flow metres perfectly accommodate, especially in light of the advent of Industry 4.0 standards. From 2023 to 2033, the oil and gas end-use sector is anticipated to have an absolute dollar opportunity of US$ 125.2 Mn.
The in-line transit time ultrasonic flow metre market is competitive in nature due to the numerous players operating in the market. This is a consolidated market with top players holding nearly 59%-60% of the global market. Product development and catering products according to niche applications is a key supply behaviour in the global market. Market participants are vying to be able to provide field support services and maintenance programs as a strategy to work closely to meet customer demands. Many players observe key strategic acquisitions and collaboration initiatives.
Some of the leading companies operating in this space are:
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2017-2022 |
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By Technology
By Application
By End-User
By Region
The Global In-Line Transit Time Ultrasonic Flowmeter Market is estimated to be valued at over US$ 415.3 Mn as of 2023.
In-Line Transit Time Ultrasonic Flowmeter are projected to increase at 6.2% CAGR and is expected to be valued at around US$ 757.9 Mn by 2033 end.
Some of the leading companies manufacturing in-line transit time ultrasonic flow meter are Emerson Electric Co, KROHNE Group, Pietro Fiorentini S.p.A., SICK MAIHAK, Inc., Endress+Hauser Management AG, Baker Hughes Company, and Elster Instromet (Honeywell)
U.S., China, Germany, Australia., and Japan are driving most of the demand for In-Line Transit Time Ultrasonic Flowmeter.
