The global ultrasonic flow meter market is segmented into product such as wall mount ultrasonic flow meter, handheld ultrasonic flow meter, in-line ultrasonic flow meter, ultrasonic Doppler flow meter, clamp-on ultrasonic flow meter and portable ultrasonic flow meter. Among these segments, wall mount ultrasonic flow meter segment is expected to grow at a significant CAGR in ultrasonic flow meter market during the forecast period. Growing usage in water and wastewater industry is expected to drive the demand for wall mount ultrasonic flow meter. Moreover, the market is witnessing the launch of innovative wall mount ultrasonic flow meter. For instance, on 30 March 2017, GE Measurement launched AquaTrans AT868 Ultrasonic Liquid Flow Meter.
Global ultrasonic flow meter market is expected to flourish at a CAGR of 7.1% over the forecast period. Moreover, the global ultrasonic flow meter market was valued at USD 6.2 Billion in 2016. Wide scale application of ultrasonic flow meter is driving the growth of ultrasonic flow meter market. Moreover, development of new and innovative ultrasonic flow meters is expected to impel the growth of the ultrasonic flow meter market.
Europe captured the largest market share in overall ultrasonic flow meter market in 2016. Further, Europe is believed to continue its dominance over the forecast period. High utilization of ultrasonic flow meter in wastewater industries is the major reason behind the growth of the Europe market. Asia Pacific region is anticipated to showcase highest CAGR during the forecast period. Increasing demand for advanced ultrasonic flow meter from various end use industries is driving the growth of the Asia Pacific ultrasonic flow meter market. Middle East and Africa is also projected to account for significant market share in ultrasonic flow meter market. This can be attributed to the rising use of ultrasonic flow meter in oil and gas industry in the region.
Rising Use in Water and Wastewater Industry
Increasing utilization of ultrasonic flow meter in water and wastewater industry is fuelling the growth of the ultrasonic flow meter market. Moreover, water and wastewater industry is witnessing high growth rate in developing nations such as China and India which further bodes well for the growth of the market.
Enhancements in Flow Meter Technologies
Advances in technologies and development of innovative ultrasonic flow meter are believed to drive the future adoption of ultrasonic flow meter in the upcoming years. Furthermore, development of new flow meters is increasing its application in various sectors. This factor is envisioned to bolster the growth of the market.
Although, availability of other flow meters in the market is likely to inhibit the growth of the global ultrasonic flow meter market in the near future.
The report titled “Ultrasonic Flow Meter Market : Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global ultrasonic flow meter market in terms of market segmentation by product, by number of paths, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global ultrasonic flow meter market which includes company profiling of Badger Meter Inc., Emerson Electric Co., Faure Herman SA, General Electric, Hach/Marsh McBirney Inc., Honeywell International Inc., Keyence Corporation, Siemens AG, Teledyne Isco Inc. and Abzil Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ultrasonic flow meter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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