Flow Computers Market is Anticipated to Witness High Growth Owing to Increased Oil & Gas Exploration Activities
Flow Computers Market is Anticipated to Witness High Growth Owing to Increased Oil & Gas Exploration Activities
The flow computers market is primarily driven by the increasing oil and gas exploration activities across the globe.

Flow computers are electronic systems that measure, calculate and process fluid flow parameters like flow rate, temperature, pressure and density of oil, gas or water flowing through pipelines. They play a vital role in custody transfer applications by accurately monitoring the flow of hydrocarbons from production wells to transportation and storage facilities. The growing need for efficient production monitoring and fiscal metering systems in oil & gas pipelines has augmented the demand for advanced flow computers across the world.

The global flow computers market is estimated to be valued at US$ 816.23 Mn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031.

Increased exploration activities for unconventional oil & gas reserves as well as rising investments in pipeline infrastructure development projects are some of the major factors propelling market growth.

Key Takeaways

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.

Flow Computers Market Demand include development of advanced diagnostics and communication capabilities in flow computers. Integration of technologies like artificial intelligence, internet of things and cloud computing is also expected to present new growth avenues over the coming years.

Major players are expanding their global footprint through collaborative initiatives and strategic acquisitions. For instance, in 2020, Honeywell acquired Sparta Systems to bolster its oil & gas process automation and operational technologies portfolio. Such efforts are helping vendors penetrate emerging flow computer markets across Asia Pacific, Latin America, Middle East and Africa.

Market Drivers

Increasing need for precise measurement and fiscal transfer of hydrocarbons continues to drive flow computer installations in oil & gas pipelines. Rapid growth in shale gas extraction along with rising LNG trade has augmented the production and transportation of natural gas worldwide. This is anticipated to drive the flow computers market during the forecast period.

Market Restrain

High initial capital investment associated with installation and maintenance of advanced flow computers may limit their adoption, especially in cost-sensitive developing markets. Occasional regulatory changes regarding pipeline monitoring standards also act as a restraint.

Segment Analysis

The Computers Market Size AND Trends is segmented by mounting type, communications protocol and end use industry. The mounting type segment includes rack mounted and DIN rail mounted sub segments. The DIN rail mounted sub segment is dominating the mounting type segment as it is cheaper and allows easy installation. By communications protocol, the HART protocol sub segment holds the largest share and is expected to grow at a high pace during the forecast period.

HART protocol provides digital communication over analog signals and enables applications like process control and instrumentation. The end use industry segment is further divided into oil & gas, refining, chemical, power generation and water & wastewater sub segments. The oil & gas sub segment currently dominates others due to extensive use of flow computers in applications such as pipeline monitoring, custody transfer and allocation.

Regional Analysis

On the basis of region, North America holds the largest share in the flow computers market. High production of shale oil and gas in countries like the US and Canada and presence of major players drive the North America market. Asia Pacific is the fastest growing regional market and is expected to experience high growth during the forecast period. Countries like China, India and Indonesia are witnessing significant growth in industries such as oil & gas, petrochemicals and power generation which is propelling the demand for flow computers in Asia Pacific. Europe is another prominent regional market and growth is majorly driven by countries including Germany, UK and Norway.

Get More Insights On, Flow Computers Market

About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

 

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