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Flow computers play an important role in measuring flow volumes and accurately calculating all flowing parameters of hydrocarbons and other fluids transported through pipelines in oil & gas, chemical and other process industries. They provide real-time data to operators on liquid flow rates, density measurements, temperature and pressure, while compensating for varying process conditions. Installation of advanced flow computers help avoid revenue losses, optimize asset efficiency and improve safety.
The Global Flow Computers Market is estimated to be valued at US$ 679.5 Mn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030.
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., TechnipFMC plc. These leading manufacturers are focusing on developing advanced flow measurement solutions to cater to the growing need for real-time data analytics across process industries.
The growing demand for accurate fluid measurement and process optimization across oil & gas, chemical and other process industries is driving the flow computers market. stringent emission norms are also pushing companies to install advanced flow meters for emission monitoring and leak detection. Furthermore, the increasing global trade of oil, gas and chemicals has increased the need for transporting these commodities via pipelines, propelling the demand for flow computers extensively used in pipeline applications.
The flow computers market is witnessing significant growth opportunities in developing regions owing to rising industrialization and investment in new pipelines infrastructure projects. Major players are expanding their production facilities and partnering with system integrators in Asia Pacific and Middle eastern countries to cater to the surging regional demand.
Market Key Trends
Digitalization of industrial processes with Internet of Things (IoT) and adoption of Industry 4.0 is one of the key trends shaping the flow computers market. Integration of flow computers with cloud computing and analytics is enabling remote monitoring of critical flow parameters. This is helping operators to identify production issues, avoid unplanned downtime and optimize throughput in real-time. Furthermore, growing demand for multi-stream flow measurement for complex manifolded pipelines and multi-phase flow applications is driving manufacturers to develop highly configurable and multi-variable flow computer models with superior accuracy. Advancements in sensor technologies are also supporting development of portable, compact and intelligent flow computers catering to temporary onsite measurement requirements.
Porter’s Analysis
Threat of new entrants: New companies entering the flow computers market will face high manufacturing and infrastructure costs to develop the specialized technology required. Bargaining power of buyers: Buyers such as oil and gas companies have some bargaining power due to the large volume purchases made, allowing for negotiated pricing. Bargaining power of suppliers: A few large component suppliers and specialized technology providers exist, giving them some power in negotiations. Threat of new substitutes: No close substitutes exist for flow computers, which provide crucial measurement and control functions in oil and gas pipelines. Competitive rivalry: Intense competition exists among established players to gain market share through new product development and customer acquisition.
Geographical Regions
North America currently holds the largest share of the Flow Computers Market in terms of value, due to extensive oil and gas pipeline infrastructure and ongoing production activity in the region. Asia Pacific is expected to witness the fastest growth over the forecast period as developing economies increase energy consumption and expand pipeline transportation of oil and gas resources domestically.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
