Ultrasonic Flowmeter Market

1. Ultrasonic Flowmeter Market to Garner $959.8 Million by 2028: Allied Market Research Demand from wastewater management and rise in use in oil & gas custody transfer applications drive the growth of the global ultrasonic flowmeter market. The market across Asia-Pacific held the largest share in 2019, accounting for more than two-fifths of the market. The Covid-19 pandemic and lockdown across several countries disrupted the supply chain for the major end-users of ultrasonic flowmeters. Portland, OR, May 20, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global ultrasonic flowmeter market was pegged at $650.7 million in 2020, and is estimated to reach $959.8 million by 2028, growing at a CAGR of 5.1% from 2021 to 2028. Demand from wastewater management, rise in preference for ultrasonic flowmeter over other alternatives, and rise in use in oil & gas custody transfer applications drive the growth of the global ultrasonic flow meter market. However, high initial costs and performance limitations lead to adoption of alternative flowmeters hinder the market growth. On the contrary, rise in new product development is estimated to create new opportunities for market growth in the coming years. Download Report Sample@ https://www.alliedmarketresearch.com/request- sample/10957 Covid-19 scenario: •The Covid-19 pandemic and lockdown across several countries disrupted the supply chain for the major end-users of ultrasonic flowmeters. •The oil & gas industry was one of the worst-hit industries during the pandemic, as there were strict restrictions on transportation, and the demand for crude oil products from the aerospace and automotive sectors reduced. The decline in demand for petrol and diesel decreased the oil & gas custody transfer activity in major countries. •The wastewater management projects were halted due to a lack of workforce.

2. The global ultrasonic flowmeter market is segmented on the basis of transducer type, technology, end-user industry, and region. Get detailed COVID-19 impact analysis on the Ultrasonic Flowmeter Market Request Here Based on transducer type, the clamp-on segment held the largest share in 2020, accounting for more than two-fifths of the market. Moreover, the segment is estimated to register the highest CAGR of 5.9% during the forecast period. On the basis of technology, the transit-time segment dominated the market in 2020, contributing to more than four-fifths of the market. In addition, the segment is projected to manifest the highest CAGR of 5.3% from 2021 to 2028. The global ultrasonic flow meter market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2020, accounting for more than two-fifths of the market. However, the market across Europe is estimated to manifest the highest CAGR of 5.3% during the