Custody Transfer Applications Will Drive Growth
Ultrasonic flowmeters, once limited to use in niche applications, have become the fastest growing flow technology, particularly in the hydrocarbon industries. Ultrasonic meters offer a compelling value proposition to users and stand poised for widespread adoption in the process industries. Given its smaller market size relative to other flow technologies, sustained growth of the hydrocarbon industries, and a large installed base of obsolete and maintenance-heavy mechanical metering technologies ripe for replacement, ARC expects the ultrasonic market to continue to grow at near double-digit rates in coming years.
The oil & gas industry has set aside its conservative stance and has begun to embrace ultrasonic metering. The custody transfer market for natural gas has taken shape, and the use of ultrasonic meters for liquid custody transfer is increasing.
Fieldbus enabled smart meters will also see strong growth. With sophisticated electronics embedded in ultrasonic flowmeters, users can monitor flowmeter and process performance. Armed with this data, users can optimize their meter calibration and maintenance practices.
Strategic Issues
Suppliers need to understand how the dynamics of this market will affect their businesses. Key issues are discussed to guide planning activities. This study will help to answer questions such as:
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Which industries and regions offer the greatest growth potential?
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What applications for ultrasonic flowmeters will expand the most over the next five years?
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What are the key strategies for success in the ultrasonic flowmeter business?
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What will be the impact of other modern flow technologies on the ultrasonic flowmeter market?