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The flow computer is an integral device used in oil & gas production lines and natural gas pipelines to measure and analyze the flow of hydrocarbon fluids. Flow computers help monitor fluid flow, temperature, and pressure to calculate mass flow, volumetric flow, energy content, and more. They enable efficient production accounting and allocation of resources.
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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing adoption of flow computers in oil and gas industries is one of the major factors driving the growth of this market. Flow computers help oil and gas companies to efficiently monitor fluid flow in pipelines and production lines. They provide accurate measurements required for production accounting and billing purposes. With increasing oil and gas exploration and production activities globally, especially in North America and Middle East regions, the demand for flow measurement solutions like flow computers is also growing substantially. Furthermore, the ability of modern flow computers to seamlessly integrate with industrial IoT platforms and enable remote monitoring is increasing their preference over conventional flow meters. This trend towards digitization and automation in oil & gas sectors is expected to continue during the forecast period, thereby propelling the flow computers market growth.
Here is the response without mentioning market size, CAGR or conclusion:
SWOT Analysis
Strength: Flow computers provide optimization, monitoring and control capabilities for oil and gas flow measurement which enhances operational efficiency. They offer reliable performance in measuring multiple variables simultaneously.
Weakness: High initial investment associated with flow computers can be a barrier for small and medium enterprises. Technological changes can render existing flow computer solutions obsolete quickly requiring frequent upgrades.
Opportunity: Growing adoption of digitalization and automation solutions across industries presents an opportunity for flow computer suppliers to expand into new application areas like water and wastewater treatment. Increasing investments in pipelines infrastructure also opens up new markets.
Threats: Intense competition from existing and new players exerts pricing pressure. Supply chain disruptions due to global events can impact availability of components and delay projects.
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. The market is fragmented with presence of global as well as regional suppliers. Companies are focusing on new product development, partnerships, and M&As for competitive edge and market expansion.
Key Takeaways
The global flow computers market is expected to witness high growth over the forecast period. North America currently dominates the market attributed to large number of shale oil and gas extraction activities in the region. The USA and Canada are major revenue generators.
Europe is another prominent regional market for flow computers driven by established oil and gas industry and ongoing upstream and downstream infrastructure expansion projects particularly in UK, Germany, Norway and Netherlands. Asia Pacific is poised to be the fastest growing regional market with China, India and other southeast Asian countries ramping up energy production and consumption.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
