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Flow computers are electronic devices used for flow measurement, metering calibration and totalization of liquids and gases in the oil and gas industry. They typically integrate with flow meters, valves and other field instruments to monitor and control the flow of fluids. Flow computers play a vital role in custody transfer applications as they enable the buyer and seller of oil, natural gas or other flowable substances to accurately measure and keep track of transfers.
The global flow computers market is estimated to be valued at US$ 679.5 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The flow computers market is driven by the increased demand for flow monitoring of oil and gas pipelines and other critical infrastructure. With rapid industrialization and an ever increasing global energy demand, accurate flow metering and monitoring has become crucial. Flow computers integrated with advanced sensors provide real-time insight into flow parameters which helps operators optimize production processes and identify anomalies. Another major factor fueling the adoption of flow computers is stringent regulations regarding custody transfer measurement across various countries. National and international regulations mandate the use of certified metering systems to ensure fair trade between parties. This has significantly boosted deployment of flow computers in oil trading terminals as well as natural gas transmission and distribution networks. Additionally, ongoing technological advancements in flow meter electronics have enhanced data processing capabilities of modern flow computers. This has enabled them to support a wide range of field instruments and integrate seamlessly with Industrial Internet of Things (IIoT) platforms for remote monitoring and predictive maintenance. The increased digitization of oil and gas infrastructure is thus expected to create robust demand for flow computers during the forecast period.
Segment Analysis
The flow computers market is dominated by the oil & gas sub segment. It accounts for more than 60% share of the total market owing to the growing natural gas production and transportation activities globally. The oil & gas industry widely uses flow computers for measurement and management of flow rates in pipelines.
PEST Analysis
Political: Environmental regulations around gas emissions management are encouraging usage of flow computers for real-time monitoring in gas pipelines.
Economic: Rising investments in oil & gas exploration and production driven by energy demand is fueling demand for flow computers for resource extraction applications.
Social: Increasing focus on reducing carbon footprint is promoting usage of flow computers for optimizing efficiency of gas infrastructure networks.
Technological: Advancements in sensor technology, integrated solutions, and Internet of Things are supporting development of smart flow computers with remote monitoring capabilities.
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., and TechnipFMC plc. Emerson Electric Co. and ABB Ltd. are the market leaders due to their wide product portfolio and global distribution network.
Key Takeaways
The global flow computers market is expected to witness high growth. Regionally, North America dominates currently due to large oil & gas production in the USA and Canada. Asia Pacific is forecasted to emerge as the fastest growing market owing to rising energy needs in India and China and their growing focus on developing gas pipeline networks and import facilities.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
