by The global Flow Computers Market is estimated to be valued at US$ 679.5 Million in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Flow computers are key measurement devices used to measure, analyse, display and transmit online parameters related to gas and liquid flow at custody transfer and process lines. They help in obtaining reliable measurement of flow and calculating parameters like flow rate, pressure, temperature, density and other related variables. This enables accurate accounting, billing, allocation and monitoring at oil and gas facilities.
Market key trends:
One of the key trends witnessed in the flow computers market is the modernization of ageing infrastructure. Oil and gas companies are replacing outdated flow computers with technologically advanced flow metering solutions capable of digital communication using Industry 4.0 communication protocols. This helps remote monitoring of flow stations and enables early detection of issues. Increasing global demand for energy is also driving deployment of new flow metering equipment across upstream, midstream and downstream applications. Focus on operational efficiency through real-time data analytics is propelling adoption of intelligent flow computers with advanced diagnostic capabilities.
Segment Analysis
The Global Flow Computers Market is segmented on the basis of mount type into rack mount and DIN rail mount. The DIN rail mount segment dominated the market in 2023 as DIN rail mount flow computers are lightweight, compact in size and offer easy installation. These flow computers can be easily fitted on DIN rails in compact spaces like flow meter panels.
Key Takeaways
The global flow computers market is expected to witness high growth, exhibiting a CAGR of 9.6% over the forecast period 2023 – 2030, due to increasing demand from oil & gas industry for efficient custody transfer and allocation operations.
Regional analysis
Regionally, North America dominated the global flow computers market in 2023. This is attributed to presence of large number of oil & gas fields and oil & gas production activities in the US and Canada. However, Asia Pacific is expected to register fastest growth rate during the forecast period owing to increasing energy demand from China and India.
Key players
Key players operating in the flow computers market are Emerson Electric Co., ABB Ltd., Thermo Fisher Scientific Inc., Yokogawa Electric Corporation, Schneider Electric SE, Honeywell International Inc., Siemens AG, Badger Meter Inc., AMETEK Inc., Equinor ASA, KT-Flow, KROHNE Group, OMNI Flow Computers Inc., Schlumberger Limited, SICK AG, Logic Beach Inc., Flowmetrics Inc., Contrec Ltd., Kessler-Ellis Products Co., TechnipFMC plc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
