DUBLIN—Research and Markets has announced the addition of the "Global Ultrasonic Flowmeter Market 2012-2016"report to their offering.
The analysts forecast the Global Ultrasonic Flowmeter market to grow at a CAGR of 8.9 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in demand from the Oil and Gas industry. The Global Ultrasonic Flowmeter market has also been witnessing the development of smart ultrasonic flowmeters. However, the increasing threat from cross-industry vendors could pose a challenge to the growth of this market.
The key vendors dominating this space are GE Co., Emerson Electric Co., and Siemens AG.
The other vendors mentioned in the report are Krohne Group, Endress+Hauser AG, Honeywell International Inc., Hitachi Ltd., and Yokogawa Electric Corp.
Commenting on the report, an analyst from TechNavio's Engineering team said: ''The development of smart ultrasonic flowmeters is one of the major emerging trends in the Global Ultrasonic Flowmeter market. Smart ultrasonic flowmeters are fieldbus-enabled flowmeters and are installed as part of a control system. The fieldbus-enabled ultrasonic flowmeters communicate through a fieldbus network and allow end-users to analyze information related to the functioning of the meter and even about the functioning of the overall process. These ultrasonic flowmeters involve several technically advanced electronic devices and installed visualization software that helps end-users monitor flow profiles, outcomes of flow conditioning, and blockage information.''
Further, the report states that the increasing threat from cross-industry vendors is one of the major challenges confronting the Global Ultrasonic Flowmeter market. Ultrasonic flowmeters face stiff competition from other types of flowmeter such as coriolis, vortex, and magnetic flowmeters.
For more information, visit http://www.researchandmarkets.com/research/r86dfw/global_ultrasonic.