Product category:
Ultrasonic and Clamp-on liquid flowmeters
News Release from: ARC Advisory Group | Subject: Market for ultrasonic flow
Edited by the Processingtalk Editorial
Team on 02 October 2006
Ultrasonic flowmeter market is US$275M
The worldwide market for ultrasonic flowmeters was US$275 million in 2005 and is forecasted to be over US$434 million in 2010, according to a new ARC Advisory Group study
The worldwide market for ultrasonic flowmeters was US$275 million in 2005 and is forecasted to be over US$434 million in 2010, according to a new ARC Advisory Group study Ultrasonic flowmeters are fast becoming the metering technology of choice for flow measurement applications, particularly in the hydrocarbon industries
This article was originally published on Processingtalk on 6 Jan 2004 at 8.00am (UK)
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Propelled by this strong growth in the oil and gas industry, which has begun to shed its conservative stance on high technology field devices, the market for ultrasonic flowmeters is expected to grow at a compounded annual growth rate (CAGR) of 9.6% over the next five years.
ARC Automation Analyst Allen Avery commented: "While ultrasonic flow measurement technology has been available for decades, it has largely been limited to niche applications.
That is starting to change as users have begun to realize the many benefits ultrasonic meters offer, including high accuracy, obstruction-free measurement, and low total cost of ownership (TCO)".
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Allen Avery is the principal author of the ARC report "Ultrasonic Flowmeter Worldwide Outlook".
Almost all of the growth in the ultrasonic flowmeter market in recent years has been due to increased shipments to the oil and gas industry, which nearly doubled over previous levels.
It appears that the custody transfer market for natural gas has taken shape, thanks to adoption of the AGA9 custody transfer standard.
Unit shipments for custody transfer increased more than threefold between 2003 and 2005, and they account for 5% of ultrasonic meters sold for process applications.
Adoption will only increase as approvals by the API and OIML for liquid hydrocarbon custody transfer gain traction in the industry.
Ultrasonic meters are ideal for flow measurement, both technologically and economically.
They measure flow with a high degree of accuracy, using multiple beams and digital signal processing.
Unlike traditional turbine meters, they have no moving parts, so they require little or no maintenance.
Ultrasonic meters do not obstruct or slow the flow of gas or liquid through a pipeline.
They can accurately measure the broad spectrum of liquefied petroleum products without having to be proven, as is the case with mechanical technologies.
Ultrasonic meters are sensitive enough to detect the smallest leaks in a long pipeline, and can measure and compensate for the many variables that can affect accuracy in custody transfer applications.
The largest growth rates for ultrasonic flowmeters will occur in Asia and the Middle East regions.
China and India are expected to make robust investments in basic infrastructure and new manufacturing plants.
As energy-poor China seeks fuel for its rapid economic growth, it will ramp up its oil and gas infrastructure, building pipelines to connect it to Russia and other regional suppliers.
The Middle East will continue to be fertile ground for ultrasonic meter suppliers, due to its role in oil and gas production.
The region will also see investment in several large-scale power generation and desalination plants.
Growth in North America will be more modest in comparison, but still healthy due to investment in oil and gas infrastructure and industrial automation.
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