The global ultrasonic flowmeter market size was US$ 671.7 million in 2021. The global ultrasonic flowmeter market is forecast to grow to US$ 1101.9 million by 2030 by growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2022 to 2030.
Ultrasonic flowmeters are used to measure and track the flow rate of fluids. The technology transmits and receives sound waves, which helps acknowledge the velocity of the fluid flowing in a pipe.
Factors Influencing the Market
The ultrasonic flowmeter market is forecast to witness a significant jump in terms of revenue due to the growing number of launches. For instance, Emerson unveiled Daniel T-200, a titanium-housed transducer for its gas ultrasonic flow meter product line in 2020. Such advancements are likely to propel the ultrasonic flowmeter market forward. Furthermore, the rising demand for more accurate and operationally flexible ultrasonic flowmeters will contribute to the growth of the market.
Ultrasonic flow meters find their applications across various potential end-use industries, including automotive, wastewater, etc. Thus, it will contribute to the growth of the global ultrasonic flowmeter market. In addition to that, these flow meters offer superior results and produce less pressure loss. Thus, such advancement will fuel the growth of the global ultrasonic flowmeter market.
Various companies are offering ultrasound flow meters for water applications at a low cost. For instance, NIVUS offers a wide range of cost-efficient, ultrasound-based Type OCM Doppler systems. Thus, it will benefit the global ultrasonic flowmeter market.
COVID-19 Impact Analysis
The wake of the COVID-19 pandemic has been beneficial for the global ultrasound flow meters market. According to instructions by World Health Organization (WHO), the water supply needed to be safe in order to curb the COVID-19 virus transmission among the general public. In addition, the surging demand for biological wastewater treatment systems and the contribution of non-profit organizations have significantly escalated the growth of the global ultrasonic flowmeter market.
Regional Analysis
The water and wastewater management sector are growing rapidly in China, India, and Southeast Asia. Furthermore, rising urbanization and industrial development will upsurge the demand for wastewater treatment solutions, thereby fueling the growth of the global ultrasonic flowmeter market. Moreover, growing partnerships and collaborations will fuel the growth of the global ultrasonic flowmeter market. For instance, SUEZ NWS announced a joint venture with Zhuhai Huigang Urban Resources Development Co. Ltd in 2019. These factors will escalate the growth of the market. In addition to that, the rapidly growing end-use industries of the ultrasonic flowmeter market, such as aerospace, wastewater, chemical, pharmaceuticals, power generation, etc., will upsurge the demand for ultrasonic flowmeters in the coming years.
Competitors in the Market
Market Segmentation
The global ultrasonic flowmeter market segmentation focuses on Transducer, Technology, End-Use, and Region.
By Transducer Type
By Technology
By End-Use Industry
By Regional Outlook
