Flow
Research, Inc.
27 Water Street
Wakefield, MA 01880
(781) 245-3200
(781) 224-7552 (fax)
Contacts: Jesse Yoder, Flow Research: (781) 245-3200 – jesse@flowresearch.com
Nick Limb, Ducker Worldwide: (248) 644-0086 - nickl@ducker.com
For immediate release
Ultrasonic
Still the Fastest Growing Type of Flowmeter, Finds New Flow Research Study
Wakefield, Massachusetts;
August 26, 2003 — Ultrasonic flowmeters remain the fastest growing type
of flowmeter, according to a new market study from Flow Research (www.flowresearch.com).
Sales of ultrasonic flowmeters worldwide totaled $255 million in 2002, and
revenues are projected to grow at a compound annual growth rate (CAGR) of
9.0 percent through 2007. In
2007, the worldwide market is projected to be valued at $393 million.
While ultrasonic flowmeters are used to measure both
liquid and gas, their rapid growth is mainly due to their use to measure
the flow of natural gas. In June 1998, the American Gas Association (AGA)
approved the use of multipath ultrasonic meters for custody transfer of
natural gas. This approval has caused a major increase in the use of
ultrasonic meters for this purpose. Multipath ultrasonic flowmeters send
multiple ultrasonic signals across the pipe, resulting in greater
accuracy. Suppliers have developed ultrasonic flowmeters with four, five,
and six paths. The main companies in this market are Emerson Daniel,
Instromet, and FMC Measurement Solutions.
While much of the projected growth in the ultrasonic
flowmeter market is due to their use for custody transfer of natural gas,
the use of ultrasonic flowmeters to measure other types of gas flow is
also expected to increase substantially during this time. Users are becoming more aware of the advantages of ultrasonic
flowmeters, and more success stories are being told. Technological improvements in transit time meters allow them
to handle a wider range of fluids. In
addition, ultrasonic flowmeters are becoming more accurate, especially
spoolpiece meters. This
increased accuracy is making ultrasonic flowmeters more attractive to
end-users.
There are also important developments for ultrasonic
flowmeters designed to measure liquid flow.
This year, Krohne introduced a new three-path ultrasonic flowmeter
designed for the chemical, oil, and water & wastewater industries. The
American Petroleum Institute has released a draft standard concerning the
use of transit time ultrasonic flowmeters for measuring liquid
hydrocarbons. Just as is the case with gas flow measurement, the use of
ultrasonic flowmeters will get a boost from the publication of approvals
by standards organizations.
Flow
Research, Inc.
Flow Research is a market
research company that specializes in providing market data and strategies
on flowmeters and other measurement devices.
Dr. Jesse Yoder, who has 16 years’ experience as a writer and
analyst in process control, founded Flow Research in 1998. The company recently completed a series of nine market
studies on the worldwide flowmeter market, including The World Market
for Ultrasonic Flowmeters. Other
studies are individual volumes on the worldwide Coriolis, magnetic, and
vortex flowmeter markets. Volume X, The World Market for Flowmeters,
includes all ten flow technologies.
Flow Research is
partnering with Ducker Worldwide (Bloomfield Hills, MI) to produce a
series of ten market studies on flowmeters, covering all the flow
technologies. Ducker
Worldwide has 40 years’ experience researching industrial and business
markets, and has offices throughout the world.
Another service provided by Flow Research is the Worldflow Monitoring Service. This Worldflow service includes monthly reports on the flow and process industries. These reports include the Worldflow Barometer, Worldflow Monitor, and Worldflow Perspective. The service is designed to provide up-to-date information between market studies.