New York, NY -- (SBWIRE) -- 10/25/2018 -- A device used to measure the rate or quantity of a gas or liquid moving through a pipe is known as the flow meter. The ultrasonic flow meter is used to measure the fluid velocity which will calculate the motion of the gas or any liquid flowing. The flow meter measures the average velocity with the help of ultrasonic transducers. These ultrasonic flow meters are affected by the temperature, density, viscosity of the fluid. The ultrasonic flowmeters were first launched by Tokyo Keiki in Japan. These ultrasonic flow meters are thus expected to gain traction in the forecast period 2017-2027 owing to vast application use, cost efficient technology and demand from the specific industries such as oil and gas.

Global Ultrasonic Flow Meter Market Dynamics

The growth in the energy markets is a principal factor driving the global ultrasonic flow meter market. The factors fueling the growth of global ultrasonic flow meters include growing demand from the custody transfer applications and the recent development of multipath meters. The rapid growth of the market is majorly contributed by the approval of standards by the regulatory authorities such as American Gas Associations, American Petroleum Institute and International Organization of Legal Metrology. Ultrasonic flow meters are now widely used in the chemical and refining industries to measure processed gasses. Ultrasonic meters have a distinct advantage that they perform well in large pipe sizes, as size is also advantageous for ultrasonic meters as they have more scope for the ultrasonic signal to cross. Ultrasonic flow meters are also used to measure the flow of petroleum and non-petroleum liquids, thus contributing larger share in the global market growth. Moreover, the suppliers developed accurate and reliable ultrasonic flow meters through increasing number of paths, resulting into growing number of measurement points. To its support, the flow meter manufacturers are more inclined towards the ultrasonic flow meters. The growth of ultrasonic flow meter is majorly contributed by the multipath meters for the custody transfer of natural gas. Natural gas being the better alternative to oil and petroleum liquids, is a potential market which helps the global ultrasonic flow meter market to gain traction. The ultrasonic flow meters are gaining traction in the flow meter market owing to reliability and non-availability of moving parts. Ultrasonic flow meters are expected to gain prominence in the global market due to hydrocarbon industry applications. Moreover, the precise accuracy, reliability, obstruction-free measurements, and wide industrial use favors the global ultrasonic flow meter market and is expected to grow with significant CAGR in the forecast period.

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However, the major factor affecting the global ultrasonic flow meter market availability of the broad range of flow meters in the market. The manufacturers implementing traditional flow meters avoid bearing risk and switch to the latest technology. This attitude can affect the market dynamics for the global ultrasonic flow meter market.

Global Ultrasonic Flow Meter: Segmentation

By types of ultrasonic flow meters, the global ultrasonic flow meter market is segmented into

Inline

Clamp-On

Insertion

Inline Ultrasonic Flowmeters by Intelligence Level is segmented into

Smart

Conventional Smart

Inline Ultrasonic Flowmeters by Communication Protocol is segmented into

HART

Modbus

Proprietary digital

Ethernet

Other

Clamp-On Ultrasonic Flowmeters by Mounting Type is segmented into

Portable Clamp-on

Fixed clamp-on

Global Ultrasonic Flow Meter: Regional Overview

Geographically, the global ultrasonic flow meter market is segmented into Japan, Asia Pacific, Eastern Europe, North America, Western Europe, Latin America and the Middle East and Africa. Though Europe remains the largest regional market for ultrasonic flow meters, Asia Pacific is expected to be the potential market owing to the rising demand for high quality and reliable tools from wide range of industries, increased demand from the oil & gas and water treatment applications, growing industrial development, water recycling facilities, and processes is growing the demand for ultrasonic flow meters market in the region. Due to oil & gas activities, the Middle East and Africa is projected to have the significant share in the overall market. Thus the global market for the ultrasonic flow meter is expected to grow with significant CAGR and is anticipated to have a positive outlook in the forecast period 2017-2027.

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Global Ultrasonic Flow Meter: Market Players

Some of the market players including manufacturers and suppliers for the global ultrasonic flow meter market includes ELIS PLZEN a. s., Honeywell International Inc., Schneider Electric., Cameron Measurement Systems, Emerson Daniel, Endress+Hauser Management AG, KROHNE Group, Siemens AG, Titan Enterprises Ltd