Ultrasonic Flow Meter Market: Current Analysis and Forecast (2021-2027)


Emphasis on Technology (Transit-Time (single transit-time, multiple transit-time)); Configuration (Clamp-On, In-Line, and Others); Fluid (Liquid, Gas, Steam), End-User (Oil & Gas, Water & Wastewater, Chemical, Power Generation, Food & Beverage, and Others); and Region and Country









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Report Description
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Research Methodology

Report Description

Global Ultrasonic Flow Meters generated revenue of ~US$
1,668.2 million in 2020. With the changing demand and price of oil & gas and increasing water & wastewater processing industry, accuracy and reliability of device becomes crucial due to high financial risk involved with the industry. For instance, during custody transfer of natural gas, an error of 0.25% can result to financial loss of around US$500,000 per year on 3 million standard cubic meters per day at $5 per million British thermal unit (BTU). Owing to this, the demand for ultrasonic flow meter is increasing. Moreover, increasing spending on wastewater treatment and desalination projects are fueling the demand of ultrasonic flow meters. For instance, in U.S. construction value of water supply projects increased from $12,758 million in June 2014 to $19,114 million in June 2021. In addition, growing other end-users sector couple with improving industrial operations are increasing the demand of ultrasonic flow meter devices. Furthermore, due to its non-invasive technology, it founds application in areas where intrusive device may be undesirable and lead to quality issues. Considering COVID-19, demand of ultrasonic devices falls on account of halted oil & gas wells operation and falling of crude oil price owing to which companies has had cut down the supply. Thus, effecting the demand of ultrasonic flow meters. According to International Energy Agency, demand of natural gas drops by 4% in 2020 compared to subsequent previous year. Moreover, the demand of oil in 2020 drop to 91.0 million barrel per day from 99.7 million barrel per day. Since, oil & gas is the largest consumer of ultrasonic flow meters therefore with recession in the industry, the demand of ultrasonic flow meter device had drop. Moreover, halted production in industries such as chemical also affected the market in a negative way.

Insights Presented in the Report

“Amongst Technology, Transit-Time category dominated the market in 2020.”

Based on technology, the global Ultrasonic flow meter market is categorized into transit-time, doppler, and hybrid. Among these, transit-time ultrasonic flow meter held the major market share in 2020 owing to its high accuracy since these type of meters uses multiple transducers.

“Amongst Configuration, In-line category held considerable market in 2020.”

Based on configuration, the market is categorized into clamp-on, in-line, and others. Among these, in-line category held the considerable market share in the 2020 and is expected to showcase significant growth during the forecast period.

“Amongst Fluid, Liquid category held significant market in 2020.”

Based on fluid, the market is categorized into liquid, gas, and steam. Liquid category held the significant market share in 2020. Large amount of trade of oil resulting in high custody transfer process. Further, during exploration and production as well, these flow meter devices are used in the oil industry. Moreover, increasing adoption of ultrasonic flow meter devices in water & wastewater industry, thus increasing device application for liquid fluid.

“Amongst End-User, Oil & Gas Dominated the market in 2020.”

Based on end-user, the market is categorized into oil & gas, power generation, water & wastewater, chemical, food & beverage, and others. Oil & gas held the largest revenue share in 2020 and is expected to retain its position during the forecast period as well owing to high accuracy demanding application in industry to mitigate the financial risk and possibility of litigation and settlements which are costly in both monetary and time terms.

“Asia-Pacific represents as the largest markets in the Global Ultrasonic Flow Meters Market.”

For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Asia-Pacific dominates in the ultrasonic flow meter market in 2020 and is likely to retain its position during forecast period as well. Large base of industry, rapid industrialization in developing and emerging economies of the region, and large consumption of commodity products like oil & gas are some of the factors for its largest market share. Despite of largest consumer of oil & gas, the regional countries have lowest level of oil & gas penetration, globally. For instance, in 2019, per capita consumption of natural gas in cubic meter in China was only 214.3 whereas in U.S. and Germany it was 2,572.7 and 1,066.5.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive country level analysis of the industry

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1.1.   Market Definitions
1.2.   Limitation
1.3.   Stake Holders
1.4.   Currency Used in Report
2.1.   Research Methodology for the Global Ultrasonic Flow Meter Market
2.1.1.Main Objective of the Global Ultrasonic Flow Meter Market
7.1.   Transit-Time
7.1.1. Single transit-time
7.1.2.Multiple transit-time
7.2.   Doppler 
7.3.   Hybrid 
8.1.   Clamp-On
8.2.   In-Line 
8.3.   Others 
9.1.   Liquid 
9.2.   Gas 
9.3.   Steam 
10.1.                     Oil & Gas 
10.2.                     Power Generation
10.3.                     Water & Wastewater
10.4.                     Chemical 
10.5.                     Food & Beverage
10.6.                     Others 
11.1.                     North America Ultrasonic Flow Meter Market 
11.1.1.    United States
11.1.2.    Canada 
11.1.3.    Rest of North America
11.2.                     Europe Ultrasonic Flow Meter Market 
11.2.1.    Germany 
11.2.2.    United Kingdom
11.2.3.    France 
11.2.4.    Spain 
11.2.5.    Rest of Europe
11.3.                     Asia-Pacific Ultrasonic Flow Meter Market
11.3.1.    China 
11.3.2.    Japan 
11.3.3.    India 
11.3.4.    Australia 
11.3.5.    Rest of Asia-Pacific
11.4.                     Rest of World Ultrasonic Flow Meter Market
12.1.                     Market Drivers
12.2.                     Market Challenges
12.3.                     Impact Analysis
16.1.                     Demand Side Analysis
16.2.                     Supply Side Analysis
16.2.1.    Top Product Launches
16.2.2.    Top Business Partnerships
16.2.3.    Top Business Expansions, Investments and Divestitures
16.2.4.    Top Merger and Acquisitions
18.1.                     Porter’s Five Forces Analysis
18.1.1.    Bargaining power of Supplier
18.1.2.    Bargaining power of Buyer
18.1.3.    Industry Rivalry
18.1.4.    Availability of Substitute
18.1.5.    Threat of new Entrants
18.2.                     Competitive Landscape
18.2.1.    Company Shares, By Revenue
19.1.                     Siemens AG
19.2.                     Danfoss S.A.
19.3.                     Fuji Electric Co. Ltd.
19.4.                     Badger Meter Inc.
19.5.                     General Electric Company
19.6.                     Endress+Hauser Group Services AG
19.7.                     Honeywell International Inc.
19.8.                     KROHNE Group
19.9.                     CMC Technologies Pty Limited
19.10.                  Emerson Electric Co.

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Ultrasonic Flow Meters three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Ultrasonic Flow Meters industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Ultrasonic Flow Meters through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Ultrasonic Flow Meters market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segments included in the report are technology, configuration, fluid, and end-user. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Ultrasonic Flow Meters globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Ultrasonic Flow Meters. Further, we conducted factor analysis using dependent and independent variables such as growing demand for electricity due to rising urban population, increasing industrialization in developing economies etc. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the Ultrasonic Flow Meters industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global Ultrasonic Flow Meters market, and market shares of each segment. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Ultrasonic Flow Meters across the major markets
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Ultrasonic Flow Meters market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Ultrasonic Flow Meter Market 3
Ultrasonic Flow Meter Market 3

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Global Ultrasonic Flow Meters market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of technology, configuration, fluid, and end-user.

The main objective of the Ultrasonic Flow Meters Market Study

The current & future market trends of Global Ultrasonic Flow Meters were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Ultrasonic Flow Meters in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of technology, configuration, fluid, and end-users
  • Defined analysis of the regulatory framework for the Ultrasonic Flow Meters industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Ultrasonic Flow Meters for the major countries
  • Major regions/countries analyzed in the report includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
  • Company profiles of the Ultrasonic Flow Meters market players and the growth strategies adopted by them to sustain in the growing market
  • Deep dive country level analysis of the industry