Global Ultrasonic Flowmeter Market 2017-2021
About Ultrasonic Flowmeter
Ultrasonic flowmeters use ultrasound technologies such as sonar or radar scans to measure the flow of liquids inside a pipe. Networked communication protocols incorporated in the flowmeters help in analyzing the operation of the flowmeter and provide valuable information to end-users. As ultrasonic flowmeters do not obstruct the flow, they can be used to measure sanitary, corrosive, and abrasive liquids. These flowmeters are widely used in the custody transfer of natural gas in end-user industries such as petrochemicals, oil and gas, and chemicals.
Technavio’s analysts forecast the global ultrasonic flowmeter market to grow at a CAGR of 6.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global ultrasonic flowmeter market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ultrasonic Flowmeter Market 2017-2021
Technavio recognizes the following companies as the key players in the global ultrasonic flowmeter market: Emerson, Endress+Hauser, General Electric (GE), KROHNE, and Siemens.
Other Prominent Vendors in the market are: Badger Meter, Bronkhorst High-Tech, CMC Technologies, Danfoss, Eastech Flow Controls, Eastern Energy Services, ELIS PLZEN, Fuji Electric, HONDA ELECTRONICS, iCenta, Cameron- Schlumberger, TOKYO KEIKI, TOKYO KEISO, Total Temperature Instrumentation, and Yokogawa Electric.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is developments in ultrasonic flowmeters. The latest developments in ultrasonic flowmeters will prove useful for many industries as the demand keeps growing. Handheld and portable ultrasonic flowmeters also witness significant market growth. Handheld ultrasonic flowmeters are commonly used in measuring slurries and dirty fluids for the chemical industry, food processing sector, and water treatment plants.”
According to the report, one driver in the market is growing nuclear power generation. Many countries are now generating power using nuclear energy. Globally, there are 31 countries with nearly 440 nuclear power reactors, which have a total installed capacity of 3,90,000 MWe. Also, 60 nuclear power reactors are under construction and 160 are planned. The most number of nuclear power reactors in the planning and construction stages are in Asia while a few major new units are in Russia. Capacity expansion is also being undertaken by upgrading the power plants.
Further, the report states that one challenge in the market is volatility in raw material prices. The prices of ultrasonic flowmeters are increasing significantly due to the high prices of raw materials used in their manufacture. The body of an ultrasonic flowmeter is made of steel, cast iron or ductile iron, alloys, titanium, and various other alloys. The shortages in the market supply of these raw materials and inflationary pressures are combining to increase the prices of the listed metals and alloys. These materials have volatile prices, which affect manufacturers as well as end-user segments. The growing demand-supply gap has led to an increase in the cost of the raw materials.
Emerson, Endress+Hauser, General Electric (GE), KROHNE, Siemens, Badger Meter, Bronkhorst High-Tech, CMC Technologies, Danfoss, Eastech Flow Controls, Eastern Energy Services, ELIS PLZEN, Fuji Electric, HONDA ELECTRONICS, iCenta, Cameron- Schlumberger, TOKYO KEIKI, TOKYO KEISO, Total Temperature Instrumentation, and Yokogawa Electric.
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