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| Global Flow Computers Market |
The global Flow Computers Market is estimated to be valued at US$ 679.5 Million 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 Overview:
A flow computer is a measurement device used to calculate and totalize flow
rate, volume, mass, energy (BTU/WH), and other process variables of liquids and
gases flowing through a pipeline. Flow computers play a crucial role in flow
monitoring, flow measurement, allocation measurement, and fiscal measurement in
oil & gas, petrochemical, and other process industries. They provide
accurate measurement of flow rates to help monitor production levels, detect
potential leaks, ensure legal metrology, and optimize processes. This increases
efficiency across industries and prevents revenue losses.
Market key trends:
One of the key trends in the Global
Flow Computers Market is the rising demand for advanced flow
measurement technology and systems in the oil & gas industry. Accurate flow
measurement is essential for production optimization, downstream billing &
custody transfer, leak detection, and asset integrity monitoring in the oil
& gas value chain. Many oil & gas companies are investing in advanced
flow computers integrated with intelligent networking capabilities, multi-path
architectures, and sophisticated flow algorithms. This helps boost production
and transportation efficiency. The growing gas transportation industry also
drives the need for sophisticated flow measurement solutions to meet stringent
regulatory standards.
Porter’s Analysis
Threat of new entrants: The flow computers face low threat of new entrants
because it requires significant investments in R&D to develop and
manufacture flow computers. Flow computers are also customized as per each
client's requirement which builds switching costs for clients.
Bargaining power of buyers: The bargaining power of buyers is high as customers
can negotiate on price and quality parameters due to availability of various
alternatives in the market. Also, many oil majors invest in in-house
development for mission-critical applications to reduce dependency.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as
there are established suppliers for components like metering sensors, valves
etc. however switching to alternate suppliers is feasible.
Threat of new substitutes: The threat of substitutes is low as flow computers
have specialized applications in custody transfer and fiscal metering in oil
& gas industry with no close substitutes.
Competitive rivalry: The competitive rivalry is high among major players like
Emerson Electric Co., ABB Ltd., Schneider Electric SE due to their focus on
product innovation, competitive pricing and expanding geographical reach.
Key Takeaways
The global flow computers market is expected to witness high growth, exhibiting
CAGR of 9.6% over the forecast
period 2023 - 2030, due to increasing investments in digital oilfield
technologies. The market was valued at US$
679.5 Million in 2023.
Regional analysis: North America accounted for largest share of the global flow
computers market in 2023 owing to presence of shale gas production sites and
established oil & gas industry in the US and Canada. Asia Pacific is
expected to grow at fastest pace during the forecast period with China and
India emerging as high potential markets.
Key players: 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.
Read More: https://www.trendingwebwire.com/global-flow-computers-market-is-estimated-to-witness-high-growth/