Global Ultrasonic Flow Meter Market Study by Factors and Major Opportunities Forecast to 2025 (Business Opportunities - Advertising Service)

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Global Ultrasonic Flow Meter Market Study by Factors and Major Opportunities Forecast to 2025

Executive Summary

The Global Ultrasonic Flow Meter Market was valued at USD 1338.5 million in the year 2019. The rise in the transmission & distribution of oil & gas by the growing number of new facilities has fueled the growth of flow control systems. Manufacturers are focusing on innovating flow meter applications in food & beverage, and pulp & paper industries. However, the center of focus is growing number of gas exploration projects around the world.

Demand for ultrasonic flow meter is expected to rise during the forecast period, as it is a cost-effective technology and owing to its usage in various applications specific industries such as oil & gas and power sectors. Also, expansion of the energy industry across the globe is a key factor driving the global ultrasonic flow meter market. Moreover, recent development of multi-path meters and rising demand for flow meters for custody transfer applications are key factors fueling the global ultrasonic flow meter market.

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However, world trade is expected to fall by between 13% and 32% in 2020 as the COVID 19 pandemic disrupts normal economic activity and life around the globe. Regional outbreak, weaker global demand, financial market volatility and lower oil prices will undermine consumption, investment and exports and hampering many industries including the ultrasonic flow meter market, at least in the year 2020.

The United States market is anticipated to be propelled by escalating production and manufacturing activities witnessed by major industries followed by growing dominance of leading domestic market players like Badger Meter, Cameron International, Emerson, GE, Sierra Instruments and among others.

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Last Update : 15 May 2020
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2020-07-09 (0.076 sec)