Flow Computers Industry 2023-2030: An Extensive Market Research on Key Players, Innovations, and Emerging Technologies

CALIFORNIA, UNITED STATES, December 7, 2023 /EINPresswire.com/ -- Market Overview:

Flow computers are electronic gas measurement instruments used in the oil and gas industry to calculate and record accurate flow rate, total volume, energy content and other parameters of hydrocarbons flowing through a pipeline. They are widely used for custody transfer applications in gas transportation and distribution networks.

Market Dynamics:

The growth of the flow computers market is driven by the increasing oil and gas exploration activities around the world. According to the U.S. Energy Information Administration, the global oil consumption is projected to increase from 98 million barrels per day in 2020 to 110 million barrels per day by 2030. Similarly, global natural gas consumption is expected to increase by over 40% in the forecast period. This increasing demand for oil and gas is encouraging major energy companies to invest more in exploration and production, thereby driving the demand for flow monitoring instruments such as flow computers. Moreover, the growing focus on natural gas transportation through pipelines is also fueling the installation of new flow measurement infrastructure using flow computers across various regions.

According to Coherent Market Insights study, The Flow Computers Market size is expected to reach US$ 1290.85 Million by 2030, from US$ 679.52 Million in 2023, at a CAGR of 9.6% during the forecast period

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Flow Computers Market- Understanding the Key Dynamics

Increased Adoption of Flow Computers in Oil & Gas Industry

The oil & gas industry has witnessed a substantial rise in the adoption of flow computers in the past few years. Flow computers play a pivotal role in pipeline operations by accurately measuring and controlling the flow of fluids in the pipes. They help optimize production processes, reduce operational costs, and maximize profitability. The growing global energy demand coupled with increasing oil & gas exploration and production activities have significantly boosted the demand for flow computers from this industry. Moreover, the need for real-time data analysis and monitoring of flow parameters is driving many operators to replace outdated flow computers with advanced digital flow computers.

Demand for Enhanced Measurement Accuracy from Process Industries

Process industries like chemicals, pharmaceuticals, food & beverages, and power generation have stringent quality control and regulatory compliance standards. Ensuring accurate measurement and control of flow parameters is critical for these industries. Flow computers offer high accuracy, repeatability, and reliability in flow measurement compared to traditional analog measurement devices. Their ability to integrate with automation systems and WirelessHART protocol has made them an ideal solution for remote monitoring in process plants. The requirement of enhanced measurement accuracy, data security, and operational efficiency from process industries is augmenting the flow computers market.

Stringent Regulations on Emission Monitoring Restrain Adoption

While flow computers play a vital role in optimizing operations and reducing emissions, the high cost of procurement and installation poses a major restraint. National and international regulations mandate continuous emission monitoring for various pollutants released from industrial facilities. However, retrofitting existing flow measurement infrastructure with advanced digital flow computers incurs substantial capital expenditures. Especially for small and mid-sized facilities, the high initial investment acts as a deterrent. Additionally, the complex nature of integrating flow computers with existing control systems requires specialized expertise, which adds to the costs. Stringent environmental norms thus increase compliance pressure but also negatively impact the flow computers market.

Opportunity in Remote Measurement Applications

The ability of modern digital flow computers to transmit real-time data wirelessly using industrial communication protocols presents lucrative opportunities. Remote and difficult-to-access measurement points like offshore oil rigs, pipeline stations, upstream oil & gas wells offer significant prospects. Installing multipoint flow computers that can communicate measured parameters remotely eliminates the need for physical monitoring at site. This reduces operational downtime and maintenance costs substantially. Moreover, flow computers integrated with SCADA and cloud systems allow remote configuration, diagnostics, and troubleshooting from any location. The growing demand for remote monitoring and control across industries will boost revenues in the flow computers market.

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Trend Towards Intelligent and Digital Flow Measurement

A major trend gaining momentum is the shift from traditional analog to intelligent digital flow measurement technologies. Advanced digital flow computers integrated with AI/ML capabilities are revolutionizing flow measurement. Their self-diagnostics and predictive maintenance features enhance asset performance and uptime. Furthermore, capabilities like energy accounting, batch control, and custody transfer using digital flow computers optimize business processes. The availability of liveflow data in ERP/MES systems facilitates improved decision making. This transition to smart flow measurement solutions enables predictive and prescriptive analytics for process optimization. The flow computers market is poised to benefit tremendously from this progressive trend in the coming years.

The major players operating in the market include:

➱ 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 companies are focusing on new product development, partnerships, collaborations, and mergers and acquisitions to increase their market share and maintain their position in the market.

Flow Computers Market Segmentation:

By Component
◘ Hardware
◘ Software
◘ Services

By Product Type
◘ Wired
◘ Wireless
◘ Plug & Play
◘ Others

By Connectivity
◘ HART
◘ Foundation Fieldbus
◘ Profibus
◘ Modbus
◘ Ethernet
◘ Others

By End-use Industry
◘ Oil & Gas
◘ Energy & Power
◘ Water & Wastewater
◘ Food & Beverage
◘ Chemicals
◘ Metals & Mining
◘ Others

By Application
◘ Fiscal Metering
◘ Liquid & Gas Measurement
◘ Wellhead Measurement & Optimization
◘ Pipeline Transmission & Distribution
◘ Process Control & Monitoring
◘ Others

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Market segment by Region/Country including:

- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
- South America (Brazil, Argentina and Colombia etc.)
- Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)

Frequently Asked Questions (FAQs):

➱ What are the key factors hampering growth of the Flow Computers market?
➱ What are the major factors driving the global Flow Computers market growth?
➱ Which is the leading component segment in the Flow Computers market?
➱ Which are the major players operating in the Flow Computers market?
➱ Which region will lead the Flow Computers market?
➱ What will be the CAGR of Flow Computers market?
➱ What are the drivers of the Flow Computers market?

Mr. Shah
Coherent Market Insights
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