Ultrasonic Flowmeter Market to Hit $700 Million by 2012 says Flow Research

The ultrasonic flowmeter market remains the fastest growing market of any flowmeter type, according to a new market study from Flow Research. The study, The World Market for Ultrasonic Flowmeters, 3rd Edition, shows the worldwide ultrasonic flowmeter market at $440 million in 2007, up from $255 million in 2002, with a projected compound average growth rate (CAGR) of 9.8% through 2012. The study also finds that the number of companies entering the ultrasonic flowmeter market is rising and predicts that even more companies will enter the market as ultrasonic flowmeter usage continues to grow.

According to Dr. Jesse Yoder, president of Flow Research, the future is highly promising for ultrasonic flowmeters: “The ultrasonic flowmeter market grew very rapidly over the past several years, and we see that trend continuing, particularly as the market for gas flow measurement using ultrasonic flowmeters continues to expand. Suppliers, including larger companies with deep pockets, are jumping on the ultrasonic bandwagon. And as more and more users have positive experiences with this relatively new technology and recognize its advantages for certain applications, we believe they will increasingly adopt ultrasonic flowmeters.”