Manufacturers in the ultrasonic flow meter market are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic merger and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Ultrasonic Flow Meter Market- Competitive Landscape
- Titan Enterprises has introduced new software functionality for its MetraFlow and Atrato ultrasonic flow meters to provide customers to move the measurement window to ensure measuring at the optimal point of signal.
- TASI Group has acquired Sierra Instruments and ONICON. The products offered by ONICON include ultrasonic flow meters, turbine flow meters, energy meters, airflow meters, transmitters and sensors. While Sierra Instruments offers liquid, gas and steam flow meters, flow and level switches, digital mass flow meters and controllers and flow calibrators.
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Honeywell International Inc.
Established in 1906, Honeywell International Inc. is located in the US. The company provides consumer and commercial products, aerospace systems, and engineering services. It also provides automotive products, turbochargers, process technology for petrochemical and refineries, advanced materials, and energy efficient solutions and products.
Schneider Electric SE
Founded in 1836, Schneider Electric SE is located in France. The company manufactures automation and energy management solutions. It operates through four businesses including medium voltage, low voltage, industrial automation, and secure power. In 2018, Schneider Electric acquired electrical and automation business from Larsen & Toubro in India.
Cameron International Corporation
Founded in 1920, Cameron International Corporation is located in the US. The company provides processing, pressure control, flow control, compression systems along with the aftermarket services and project management for oil and gas and process industries. The company also provides offshore and onshore platform wellhead system and processing solutions including actuators, valves and chokes.
Established in 1953, Endress+Hauser AG is located in Switzerland. The company provides measurement instruments, automation solutions, and services for the industrial processing engineering in Asia Pacific, Africa, Europe, the Americas, and the Middle East. The company also offers flow metering, field network engineering, analytical solutions, and plant asset management solutions.
Ultrasonic Flow Meter Market Dynamics
Upgradation and Modernization of Refineries to Propel Demand for Ultrasonic Flow Meters
Ultrasonic flow meters are extensively used in the oil refineries, especially in crude oil metering. The need to measure crude oil at various steps during its movement from extraction to the production facility is driving demand for ultrasonic flow meters. Moreover, existing oil refineries are increasingly focusing on upgradation and modernization of refineries which will result in the growing demand for ultrasonic flow meters.
Developing nations across the globe are increasingly investing in the development of refineries. For instance, BPCL, EIL, IOC, and HPCL have announced developing the biggest refinery in India on the west coast which is projected to cost US$ 30 billion. Rise in the capacity of refineries in developing countries is likely to boost the demand for ultrasonic flow meters.
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Manufacturers Developing Portable and Handheld Ultrasonic Flow Meters
Manufacturers in the ultrasonic flow meter market are focusing on providing industry-the specific solutions. New ultrasonic flow meters are being developed with the features as per the requirement of specific industry. Meanwhile, handheld ultrasonic flow meters are finding wide application in measuring dirty fluids and slurries for the chemical, water treatment, and food processing industries.
Manufacturers are also focusing on developing portable ultrasonic flow meters using both transit time and Doppler technologies to measure flow and velocity of liquids. These portable ultrasonic flow meters are witnessing huge demand from the petrochemical and refinery industries to carry survey work in remote locations. Meanwhile, in recent years, solar-powered ultrasonic flow meters have also gained traction owing to the increasing disparities between the demand and supply of electricity.
Ultrasonic Flow Meter Market Segmentation
Based on the type, the ultrasonic flow meter market is segmented into
Based on the technology, the ultrasonic flow meter market is segmented into
- Transit Time – Multipath
- Transit Time – Single/Dual Path
Based on the fluid type, the ultrasonic flow meter market is segmented into
- Petroleum Liquids
- Non-petroleum Liquids
Based on the number of paths, the ultrasonic flow meter market is segmented into
- 3-path transit time
- 4-path transit time
- 5-path transit time
- 6 or more paths transit time
Based on the supply channels, the ultrasonic flow meter market is segmented into
- Independent Representatives
- Direct Sales
Based on the customer type, the ultrasonic flow meter market is segmented into
- Systems Integrators
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Availability of Broad Range of Flow Meters to Impact Ultrasonic Flow Meter Market
One of the key factors impacting the growth of the ultrasonic flow meter market is the availability of a wide range of flow meters used across various industries. Moreover, manufacturers in various industries who are using traditional flow meters are avoiding bearing the possible risk and switch to the latest flow meter technologies. This attitude of manufacturers is restraining the adoption and growth of ultrasonic flow meters. However, manufacturers in the ultrasonic flow meter market are focusing on showing the benefits of using ultrasonic flow meters across industries.