Ultrasonic flow cells have become an essential component in various industries such as oil and gas, chemical processing, and water and wastewater management. These flow cells offer accurate measurements of liquids and gases and are widely used to monitor flow rates in various industrial processes.
The global ultrasonic flow cell market is projected to witness significant growth in the next five years, with a forecasted CAGR of 5.8% from 2017 to 2022. The market is expected to reach USD 1.22 billion by 2022, up from USD 0.91 billion in 2016.
One of the key drivers of this market growth is the increasing demand for ultrasonic flow cells in the oil and gas industry. These flow cells are widely used to measure the flow rates of crude oil and natural gas. With the growing demand for energy and increasing exploration activities, the demand for ultrasonic flow cells in this sector is expected to remain high.
Moreover, the demand for ultrasonic flow cells in the chemical processing industry is also increasing owing to the need for accurate monitoring of fluid flow rates. The food and beverage industry is also a major end-user of ultrasonic flow cells, where they are used to measure the flow of various liquids such as milk, beer, and soft drinks.
Based on the product type, the ultrasonic flow cell market can be segmented into inline ultrasonic flow cells, clamp-on ultrasonic flow cells, and insert ultrasonic flow cells. Among these, the inline ultrasonic flow cells segment is expected to hold the largest share of the market due to its wide application across various industries.
On the basis of application, the market can be segmented into oil and gas, chemical processing, water and wastewater management, power generation, and others. The oil and gas sector is expected to dominate the market during the forecast period owing to the high demand for ultrasonic flow cells in this sector.
Geographically, North America is expected to hold the largest share of the market. This can be attributed to the high demand for ultrasonic flow cells in the oil and gas sector and the presence of major players in this region. The Asia-Pacific region is also expected to witness significant growth during the forecast period owing to the increasing demand for ultrasonic flow cells in various industries.
Some of the major players in the ultrasonic flow cell market include Endress+Hauser Management AG, Siemens AG, Yokogawa Electric Corporation, Honeywell International Inc., and Emerson Electric Co., among others.
In conclusion, the global ultrasonic flow cell market is expected to witness significant growth in the next five years owing to the increasing demand for these devices in various industries. The market is expected to be dominated by North America followed by Asia Pacific. The inline ultrasonic flow cells segment is expected to hold the largest share of the market owing to its wide application across various industries. The major players in this market are expected to focus on product innovations and expansions to strengthen their market position.