The global clamp-on ultrasonic flow meter market is expected to grow at a CAGR of around 8% from 2020 to 2027 and expected to reach the market value of around US$ 1,456.7 Mn by 2027.
Clamp-on ultrasonic flow meters are used in a variety of applications, including process flow and custody flow. It is used to test the efficiency of temporary flow meters and other flow meters. Additionally, clamp-on ultrasonic flow meters are widely used in a variety of applications such as custody flow and process flow. A clamp-on ultrasonic flow meter is used to test the accuracy of other flow meters and to take temporary measurements.
Rising application of clamp-on ultrasonic flow meters across industries foster the growth of global market
In recent years, demand for clamp-on ultrasonic flow meters has steadily increased from a variety of end-use industries such as oil and gas, pharmaceutical, water and wastewater, power generation, petrochemical, and so on. The transit time ultrasonic flow meter and Doppler are the two most prominent types of ultrasonic flow meters that are increasingly being used globally– a factor that is expected to drive the global clamp-on ultrasonic flow meter market during the analysis period. Clamp-on ultrasonic flow meters have received significant attention in the global market due to the high demand for non-intrusive technology, which has resulted in large-scale adoption of clamp-on ultrasonic flow meters in recent times, implying a steady growth for the clamp-on ultrasonic flow meter market. Furthermore, as industry regulations and standards evolve, the demand for clamp-on ultrasonic flow meters is increasing. To strengthen their foothold in the current clamp-on ultrasonic flow meter market landscape, players in the current clamp-on ultrasonic flow meter market landscape are expected to focus on minimizing errors in flare flow measurement and reducing flow metre inaccuracy.
Market players stay forefront by launching new products for gaining competitive edge
Several market participants are expected to pursue both organic and inorganic growth strategies during the forecast period. Companies are increasingly focusing on the introduction of new products in order to gain a competitive advantage in the clamp-on ultrasonic flow meter market. Fuji Electric, for example, announced the release of a new clamp-on ultrasonic flow meter designed for saturated steam in May 2020. Similarly, SONOTEC announced the release of an industrial-grade clamp-on ultrasonic flow meter for plastic pipes and tubes in May 2020. AW-Lake will release a new clamp-on ultrasound flow meter for a variety of industrial applications in September 2020.
Maintenance free design offers longer durability of the service: A prominent factor that act positively on the clamp-on ultrasonic flow meter market
The ultrasonic flow-measuring device offers cost-effective flow measurement with a high degree of accuracy for a wide range of process conditions in the clamp-on ultrasonic flow meter market. As a result, the use of ultrasonic flow meters has increased. An ultrasonic flow metre measures the velocity of a fluid flowing through a pipe using sound waves. The frequency of an ultrasonic wave transmitted into a pipe and the frequency of the reflected wave from the fluid are the same when there is no flow. Furthermore, because there are no moving parts in an ultrasonic flow metre, sensors are not directly immersed in liquid, eliminating wear and tear concerns. As a result, these systems are dependable and simple to operate, requiring little maintenance. This is assisting in the growth of the clamp-on ultrasonic flow meter market. An ultrasonic flow meter has a service life of approximately 30 years, which is advantageous to the user as a one-time investment, though electrodes may need to be cleaned on a regular basis. These factors all contribute to the global expansion of the clamp-on ultrasonic flow meter market.
COVID-19 pandemic witnessed sluggish growth for the global clamp-on ultrasonic flow meter market
The COVID-19 pandemic is expected to have a moderate impact on the global clamp-on ultrasonic flow metre market's overall growth in 2020. Because of the temporary shutdown of various industries in China during the first quarter of 2020, raw material production was impacted, causing the supply chain to be primarily disrupted. While China's industrial sector began to open toward the end of the first quarter, manufacturing and industrial sectors around the world saw little activity due to strict lockdown restrictions. In 2021, the market is expected to show signs of recovery.
The global clamp-on ultrasound flow meter market is segmented based on measurement technology and end-user. Based on measurement technology, the market is segmented as doppler, transit time, and hybrid. Further, end -user is segregated as chemical, petrochemical, oil & gas, pharmaceutical, food & beverages, water & wastewater, power generation, and others.
Asia Pacific is anticipated to hold largest market share for the global clamp-on ultrasonic flow meter market
The presence of prominent players operating in the clamp-on ultrasonic flow meter market with manufacturing plants/units in Asia Pacific is attributed to the region's growth. Furthermore, the lower cost of production in this region is one of the key factors contributing to the growth of the global clamp-on ultrasonic flow meter market. In addition, rising investments in water and wastewater, energy and power, refinery, chemicals, and industrial infrastructure in developing economies, particularly India and China, are expected to drive demand for clamp-on ultrasonic flow meters in the global market.
In November 2019, KEYENCE Corporation of America, announced the launch of a new product, the "FD-G Series”. The newly launched product has the potential to save manufacturing facilities money and energy. By providing valuable and actionable data, the FD-G Series assists facility managers and other users in discovering, quantifying, and preventing issues associated with facility-wide compressed air usage. This will have an effect on the market for clamp-on ultrasonic flow meters.
In June 2018, Fuji Electric Co., Ltd announced a strategic alliance with Dalian Bingshan Group Management Consulting Co., Ltd, a subsidiary of Dalian Bingshan Group Co., Ltd. The collaboration will see the establishment of a system engineering company with the goal of expanding its system business in China. This will have a positive impact on the clamp-on ultrasonic flow meter market.
The prominent players of the global clamp-on ultrasonic flow meter market involve Badger Meter, Inc., Bronkhorst High-Tech B.V., CMC Technologies Pty Limited, Danfoss, EESIFLO, Emerson Electric Co., Endress+Hauser Group Services AG, Fuji Electric Co. Ltd, Honeywell International Inc., and among others
Market By Measurement Technology
Market By End-user
Oil & Gas
Food & Beverages
Water & Wastewater
Clamp-on ultrasonic flow meter market is expected to reach a market value of around US$ 1,456.7 Mn by 2027.
The clamp-on ultrasonic flow meter market is expected to grow at a CAGR of around 8% from 2020 to 2027.
Based on measurement technology, doppler segment is the leading segment in the overall market.
Maintenance free design offers longer durability of the service is one of the prominent factors that drive the demand for clamp-on ultrasonic flow meter market.
Badger Meter, Inc., Bronkhorst High-Tech B.V., CMC Technologies Pty Limited, Danfoss, EESIFLO, Emerson Electric Co., Endress+Hauser Group Services AG, Fuji Electric Co. Ltd, Honeywell International Inc., and among others.
Asia Pacific is anticipated to grab the highest market share in the regional market
Asia Pacific is expected to be the fastest growing market in the forthcoming years