According to the research report titled ‘Global Clamp-on Ultrasonic flow meter Market Size study, by Measurement technology (Transit time, doppler and hybrid), by End-user (Chemical, water and wastewater, oil & gas, pharmaceutical and others), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global clamp-on ultrasonic flow meter market was valued approximately at USD 685.6 Million in 2020 and is anticipated to reach USD 1157.8 million by the end of the forecast period 2021-2027, exhibiting a healthy y-o-y growth rate of more than 8.3% throughout.
 

As per the report findings, growing demand for flowmeters from end-use industries is majorly driving global clamp-on ultrasonic flow meter market expansion. In particular, product adoption in oil and gas sector has increased considerably, where it is used in custody transfer applications for precise hydrocarbon measurement.
 

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Rising demand for advanced flow measurement technologies is another major factor positively influencing the industry outlook. However, high set-up cost is a major hindrance for businesses in this domain.
 

For the unversed, clamp-on ultrasonic flowmeters are used to check the accuracy of other flowmeters and conduct periodic measurements. These are utilized in a wide range of applications such as custody and process flow, and offer various benefits like low maintenance, extended service life, and ease of integration with new technologies.
 

From the regional perspective, the key regions emphasized to determine global clamp-on ultrasonic flow market size and scope are North America, Europe, Asia Pacific, and Latin America. Among these, Asia-Pacific held the biggest proportion of the market share in 2020, followed by North America and Europe.
 

Experts cite that strong presence of different end-use industries for ultrasonic flowmeters in China and India has proven favorable for market growth in APAC. Further, increasing efforts by industry players and favorable initiatives by governments are supporting the business landscape.
 

To cite, SUEZ NWS and Zhuhai Huigang Urban Resources Development Co. Ltd teamed in February 2019 to build and manage a WWTP with a daily capacity of around 25 thousand tons to treat wastewater generated by industrial firms in the petrochemical park of Zhuhai Gaolan Port Economic Zone, China.  
 

Speaking of government initiatives, water environment partnership in Asia (WEPA) intends to improve the water environment by providing knowledge and information needed for governance, signaling a sustained demand for flowmeters.
 

Elaborating on the competitive landscape, Siemens AG, Danfoss, Fuji Electric Co., Ltd., Badger Meter Inc., General Electric Co., Endress+Hauser Group, Honeywell International Inc., Teledyne Technologies Inc., Bronkhorst Instrumentation India Pvt Ltd., Eesiflo International Group, and Katronic Technologies Ltd. are the major companies influencing global clamp-on ultrasonic flow market trends.