According to the latest report by IMARC Group, title “Ultrasonic Flowmeter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026; the global ultrasonic flowmeter market reached a value of US$ 1.53 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026.
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The accuracy of the ultrasonic flowmeters in calculating the velocity of the fluids and taking measurements is primarily driving the ultrasonic flowmeter market. Besides this, several advancements in ultrasonic technologies and computing capabilities have encouraged improved flowmeter performance and measurement in continuous industrial processes and detecting secondary flow in pipelines. Moreover, due to the various benefits offered by ultrasonic flowmeters, such as their non-invasive nature, high accuracy, reliability, low maintenance, etc., they are gaining traction among numerous sectors. Apart from this, the increasing number of refineries and escalating energy demand is anticipated to bolster the ultrasonic flow meters market over the forecasted period.
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