The latest report on Ultrasonic Flow Meter Market by Infinium Global Research gives complete coverage of the Ultrasonic Flow Meter Market by implementation type (clamp-on, inline), measurement technology (transit-time, Doppler, hybrid), number of paths (2 path transit-time, 3 & above path transit-time), end-user (oil & gas, power generation, water & wastewater) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Ultrasonic Flow Meter such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Growing Demand in Oil & Gas and Water & Wastewater Industries is the Major Driving Factor of the Ultrasonic Flow Meter Industry
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.
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Growing Demand from the Custody Transfer Applications and the Recent Development of Multipath Meters are Driving the Growth
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.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Ultrasonic Flow Meter.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.