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According to the latest report by IMARC Group, title “Ultrasonic Flowmeter Market: Global Industry Trends, Share, Size, G...; the global ultrasonic flowmeter market reached a value of US$ 1.64 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.38 Billion by 2027, exhibiting at a CAGR of 6.32% during 2022-2027.
An ultrasonic flowmeter is used for measuring the quantity of gas or liquid that is moving through a pipe. The device is designed to measure the fluid velocity and calculate the motion of the gas or liquid using an ultrasonic transducer. The flowmeter can also measure the velocity of chemicals, molten Sulphur, gases, and cryogenic liquids. The flowmeter does not suffer mechanical wear and tear and can be used for bidirectional measurements. The ultrasonic flowmeter is largely used across the chemical, wastewater, food and beverage (F&B), pharmaceutical, mining, power generation, and paper and pulp industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Ultrasonic Flowmeter Market Trends:
The rising demand for ultrasonic flowmeters for accurately calculating velocity and measuring fluids is one of the prime factors driving the market growth. The non-invasive nature of ultrasonic flowmeters has significantly increased their demand across several industrial verticals, which is another factor boosting the market growth. Apart from this, the development of hybrid and portable ultrasonic flowmeters and the increasing shale gas exploration activities across the globe are creating a positive outlook for the market.
Ultrasonic Flowmeter Market 2022-2027 Competitive Analysis and Segmentation:
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Key highlights of the report:
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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