Keywords: Automation, Control, Field Device, Global Market Research Study, Level, Market Shares, Process, Smart Sensor, Transmitter, Ultrasonic Level Devices, Water & Wastewater
Clean water, often referred to as the “oil of the 21st century,” is becoming increasingly scarce and precious. According to a new ARC Advisory Group research study, investments in water infrastructure-related projects in both developing and developed countries are likely to perk up the current slow pace of growth in the ultrasonic level measurement market. On the technology front, the need for companies to improve process measurement and control drives suppliers to constantly improve the accuracy, reliability, and applicability of their ultrasonic level measurement devices.
In addition to growth in the water & wastewater industry, this ARC study identifies new bulk solids level measurement capabilities as a key growth driver for ultrasonic technology in a variety of new industrial segments. “During the forecast period, in addition to water & wastewater, ARC expects to see above-average growth for ultrasonic level measurement devices in industries such as chemicals, food & beverage, electric power, and cement & glass. Much of the growth in these industries reflect the advancement in ultrasonic technology to be able to handle bulk solids level measurement applications,” according to Analyst Amruta Kanagali, principal author of ARC’s “Continuous Ultrasonic Level Devices Global Market Research Study”.
Low Price and Increased Functionality
A primary factor contributing to the growth of ultrasonic level technology is the continued reduction in cost for entry-level versions in combination with increasing functionality, which make ultrasonic an effective, affordable solution, primarily for liquid applications. Also, dropping prices may bode well for increased business in particularly cost-sensitive markets in the growing Asia Pacific and EMEA regions.
Competing with Other Technologies
Several factors will impact future growth prospects for ultrasonic level measurements. These include the limitations of the technology, competition from traditional level technologies such as pressure transmitters, and the emerging prospects of low-cost radar with its superior performance. That being said, ultrasonic still remains a proven, reliable, and well understood technology. It will continue to have a place in the instrumentation market and remain complementary to competitive technology like radar.
Mega Projects in Developing Economies
Asia and other developing economies like the Middle East continue to offer opportunities for growth for ultrasonic level device suppliers as several greenfield, mega projects take shape in these regions. Also, recognizing the opportunities afforded by shale gas, other nations including the UK, China, and Argentina are looking to replicate the US’s shale model, where chemical control and inventory management are critical and reliable level measurements devices often play a key role. Moreover, low feedstock prices have spurred a number of petrochemical and LNG projects in North America.
For more information on this study, please visit our Market Research section.