Ultrasonic Flowmeter Market to Reach $434 Million by 2010

Propelled by strong growth in the oil & gas industry, which has begun to shed its conservative stance on field device technology, the worldwide market for ultrasonic flowmeters is expected to grow at a compounded annual growth rate (CAGR) of 9.6% over the next five years. The market was $275 million in 2005 and is forecasted to be over $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. “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),” according to Automation Analyst Allen Avery, the principal author of ARC’s “Ultrasonic Flowmeter Worldwide Outlook”.

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 & 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 & gas production. The region will also see investment in several large-scale power generation and desalinization plants. Growth in North America will be more modest in comparison, but still healthy due to investment in oil & gas infrastructure and industrial automation.

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