Market Players to Minimize Error and Improve Accuracy of Products
Clamp-on ultrasonic flowmeters are extensively used in a range of applications including custody flow and process flow. A clamp-on ultrasonic flowmeter is used to verify the efficacy of various other flowmeters and temporary measurement. The demand for clamp-on ultrasonic flowmeters is on the rise, owing to their minimal maintenance, long service life, and ease of integration with new technologies. However, some factors that could hamper the adoption of clamp-on ultrasonic flowmeters in the upcoming decade include non-compatibility with non-conductive liquids.
Moreover, within the clamp-on ultrasonic flowmeter market, the ultrasonic flow measuring device provide a cost-effective flow measurement that offers high levels of accuracy– a factor that has led to a considerable rise in the usage of ultrasonic flowmeters in recent times. Advancements in the sensor technology are also expected to have a strong impact on the clamp-on ultrasonic flowmeter market during the forecast period. A number of players involved in the current market for clamp-on ultrasonic flowmeters are focusing on the launch of new products and solutions to establish a solid presence in the global market.
At the back of these factors, along with advancements in the electromagnetic induction technology, the global clamp-on ultrasonic flowmeter market is on course to reach the US$ 2.4 Bn mark by the end of 2030.
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Rise in Applications of Ultrasonic Flowmeters to Aid Market Growth
In recent years, the demand for ultrasonic flowmeters has witnessed steady growth from various end-use industries such as oil & gas, pharmaceutical, water & wastewater, power generation, petrochemical, etc. The transit time ultrasonic flowmeter and Doppler are the two most prominent types of ultrasonic flowmeters that are increasingly being used worldwide– a factor that is expected to boost the growth of the global clamp-on ultrasonic flowmeter market during the assessment period. Ultrasonic flowmeters are slated to gain immense popularity in the upcoming years. Analysts at the Transparency Market Research are of the opinion that ultrasonic flowmeters are an ideal alternative or replacement for electromagnetic and vortex flowmeters.
The high demand for the non-intrusive technology has led to large-scale adoption of clamp-on ultrasonic flowmeters in recent times due to which, a steady growth for the clamp-on ultrasonic flowmeter market is anticipated. However, clamp-on ultrasonic flowmeters lack the accuracy provided by other alternative ultrasonic flowmeters– a factor that could hamper their sales, particularly in the first half of the forecast period.
In addition, the demand for ultrasonic flowmeters is on the rise, as they comply with evolving industry regulations and standards. Players involved in the current clamp-on ultrasonic flowmeter market landscape are expected to focus on minimizing errors in flare flow measurement and reduce flowmeter inaccuracy to strengthen their foothold in the current clamp-on ultrasonic flowmeter market landscape.
Market Players to Launch New Products for Competitive Edge
Several market players are expected to resort to organic as well as inorganic growth strategies during the forecast period. Companies are increasingly focusing on launching new products to gain a competitive edge in the clamp-on ultrasonic flowmeter market. For instance, in May 2020, Fuji Electric announced the launch of a new clamp-on ultrasonic flowmeter designed for saturated steam. Similarly, in May 2020, SONOTEC announced the launch of an industrial-grade clamp-on ultrasonic flowmeter for plastic pipes and tubes. In September 2020, AW-Lake launched a new clamp-on ultrasound flowmeter for a range of industrial applications.
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Demand for Clamp-on Ultrasonic Flowmeters to Slump amid COVID-19 Pandemic
The outbreak of the COVID-19 pandemic is expected to have a moderate impact on the overall growth of the global clamp-on ultrasonic flowmeter market in 2020. Due to the temporary shutdown of various industries in China during the first quarter of 2020, the production of raw materials was affected as a result of which, the supply chain was predominantly disrupted. While the industrial sector in China opened toward the end of the first quarter, manufacturing and industrial sectors across the world witnessed minimal activity due to the stringent lockdown restrictions. The market is expected to show signs of recovery in 2021.
Clamp-on Ultrasonic Flowmeter Market: Overview
- According to Transparency Market Research’s latest research report on the global clamp-on ultrasonic flowmeter market for the historical period 2018–2019 and the forecast period 2020–2030, maintenance-free design offering longer service life and integration of advanced technologies are factors expected to boost the global clamp-on ultrasonic flowmeter market during the forecast period. However, some factors also hamper the growth of the clamp-on ultrasonic flowmeter market. These include non-compatibility with non-conductive liquid.
- In terms of revenue, the global clamp-on ultrasonic flowmeter market is projected to reach the value of US$ 2.4 Bn by 2030, expanding at a CAGR of 8% during the forecast period
Maintenance-free Design Offers Longer Service Life: A Key Driver of Clamp-on Ultrasonic Flowmeter Market
- In the clamp-on ultrasonic flowmeter market, the ultrasonic flow-measuring device offers cost-effective flow measurement with a high degree of accuracy for a wide range of process conditions. This, in turn, has increased the usage of ultrasonic flowmeters. Ultrasonic flowmeters use sound waves to determine the velocity of a fluid flowing in a pipe. At no flow condition, the frequency of an ultrasonic wave transmitted into a pipe and the frequency of the reflected wave from the fluid are the same.
- As there are no moving parts in ultrasonic flowmeters, sensors are not directly immersed in the liquid and hence, there are no wear and tear concerns. This makes these systems reliable and easy to operate with limited maintenance. This is helping to expand the clamp-on ultrasonic flowmeter market.
- The expected service life of an ultrasonic flowmeter is approximately 30 years, which is beneficial to the user as a one-time investment, although electrodes may need to be periodically cleaned
- Volumetric flow of conductive liquids, including slurries and corrosive or abrasive materials can also be detected through magmeters. These properties of ultrasonic flowmeters prove them to be ideal for wastewater end-use industry or for measuring any dirty liquid flow rate, which is conductive or water-based. Thus, the market is expected to grow at a higher rate, owing to the operational facilities provided and the low maintenance cost of ultrasonic flowmeters. These factors drive the clamp-on ultrasonic flowmeter market.
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