Global Clamp-on Ultrasonic Flow Meter Market is valued approximately at USD 1.03 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8% over the forecast period 2020-2027. An ultrasonic flow meter is a type of flow meter which measures the velocity of a fluid with ultrasound to calculate volume flow. It is widely used in pharmaceutical, water & wastewater, power generation, petrochemical industry and other. The factors driving the growth of the market could be attributed to high accuracy readings of the flow meter, rise in demand for advanced flow measuring technologies, and increase in shale gas exploration activities globally. New advancement in the Clamp-on ultrasonic flow meter like wireless compatibility, miniaturization, and thermal energy meter has further broadened the market.
As June 2020, Badger Meter launched its Dynasonics UHC100 ultrasonic thermal energy meter, which is one of the first instruments to receive the new Canada Weights and Measures approval for use in liquid heating as well as cooling applications in Canada. Similarly, As of February 2020, Flow Technology Inc. launched the QCT Series of in-line ultrasonic flow meters designed for low-viscosity liquid applications, offering a cost-effective solution for the measurement of low viscosity liquids in the chemical, biopharmaceutical, food and beverage, pharmaceutical, plastics, and power generation sectors, to name a few. However, diverse options available in the global Clamp-on ultrasonic flow meter market which stops the users from trying new technologies over the traditional technologies to avoid bearing risk is expected to restrain the market.
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The regional analysis of global Clamp-on Ultrasonic Flow Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to availability of surplus income and change in the consumers lifestyle. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027, because most of the key players operating in the flow meters market have their manufacturing plants in this region thus, it would create lucrative growth prospects for the Clamp-on Ultrasonic Flow Meter market across Asia-Pacific region.
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 product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Measurement Technology:
Oil & Gas
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