The global ultrasonic flowmeter market size was worth $690 million in 2021 and is projected to reach $1.08 billion by 2030, growing at a CAGR of 5.1 percent during the forecast period, according to Straits Research.
To measure the flow rate of fluids, including liquids and gases, ultrasonic flowmeters use ultrasonic technology. They mostly use Doppler and transit-time technology to detect the velocity of a fluid flowing through a pipe, which transmits and receives sound waves. The flow rate of a liquid is determined by interpreting its momentum. Ultrasonic flowmeters have several benefits over conventional forms of flowmeters. This sort of flow measurement system primarily uses non-invasive; transducers do not directly contact the process fluid and do not block the fluid’s flow, making them perfect for detecting corrosive and abrasive chemicals.
The primary factor propelling the worldwide ultrasonic flowmeter market is the need for ultrasonic flowmeters in the oil and gas sector for custody transfer applications. Extreme accuracy is required to determine how much of a product has been carried. For receivers, even the tiniest measurement inaccuracy might be expensive.