Global Clamp-on Ultrasonic flow meter Market is valued approximately at USD 685.6 Million in 2020 and is anticipated to grow with a healthy growth rate of more than 8.30% over the forecast period 2021-2027. Clamp-on ultrasonic flowmeters are widely used in a variety of applications such as custody flow and process flow. These flowmeters are used to test the accuracy of other flowmeters and to take temporary measurements. Clamp-on ultrasonic flowmeters are in high demand due to their cheap maintenance, extended service life, and simplicity of integration with new technologies. Moreover, growing demand of flowmeters from end-use industries is creating lucrative growth opportunities for the market growth. The adoption of ultrasonic flowmeters has increased in the oil and gas sector, where it is used in custody transfer applications for precise hydrocarbon measurement. According to International Energy Agency (IEA), the demand of oil over the world, will rise from 42.1 million barrels per day, from the year 2020 to 45.8 million barrels per day, in the year 2022 and 46 million barrels per day, by the year end 2025. Additionally, increasing demand for advanced flow measuring technologies is another factor contributing towards the market growth. However, huge involvement of set up cost is major factor hampering the growth of market.
In 2020, Asia-Pacific held the biggest proportion of the ultrasonic flowmeter market, followed by North America and Europe. The presence of different end-use industries for ultrasonic flowmeters in China and India has proven favourable for the market growth. In February 2019, SUEZ NWS partnered up with Zhuhai Huigang Urban Resources Development Co. Ltd to build and operate a WWTP with a daily capacity of 25 thousand tonnes to treat industrial wastewater generated by industrial companies in the Zhuhai Gaolan Port Economic Zone’s petrochemical park. Furthermore, the Water Environment Partnership in Asia (WEPA) intends to contribute to the improvement of the water environment by providing knowledge and information needed to improve water environment governance. These factors are likely to considerably contribute to the market expansion of clamp-on ultrasonic flowmeters in the area.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Measurement technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Measurement technology:
Water and wastewater
Oil & gas
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Clamp-on Ultrasonic flow meter Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers