April 20, 2024

Flow Computers Market is Estimated to Witness High Growth Owing to Increasing Demand for Flow Measurement Across Oil & Gas Industry

Flow computers are advanced measurement instruments comprising of hardware and software used for multiphase flow measurements in oil & gas pipelines, transportation terminals and processing facilities. They help accurately measure, monitor and control parameters such as flow rate, pressure and temperature of fluids. Flow computers find major application across oil & gas industry for allocation accounting, optimization of operation, and fiscal metering of oil and natural gas. Rising global demand and production of oil & gas has been driving the need for advanced flow measurement systems, thereby propelling growth of the flow computers market.

The global Flow Computers Market is estimated to be valued at US$ 679.5 million in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period from 2023 to 2030.

Key Takeaways
Key players – Key players operating in the flow computers 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.

Key opportunities – Growing need for digitalization in oil & gas industry and adoption of IoT-enabled flow computers present major opportunities in the market.

Global expansion – Leading players are expanding their production capabilities and focusing on emerging markets in Asia Pacific and Middle East & Africa to tap the growth opportunities in these regions.

Market drivers – Increasing demand for flow measurement across oil & gas industry for allocation accounting, operational optimization and fiscal metering applications is a key driver for flow computers market. Rising global oil & gas production and gradual shift towards digital oilfield technologies are also fueling the market growth.

PEST Analysis
Political: Flow computers are used in measuring the flow of oil, gas, water and other fluids in pipelines. Changes in regulations regarding measuring and monitoring resource flow pipelines can impact flow computer demand.

Economic: Economic growth and demand for energy and natural resources corresponds to higher flow computer installations to efficiently transport and measure resources across pipelines. Recessions may negatively affect capital expenditure on pipeline infrastructure projects requiring flow meters.

Social: Increasing environmental regulations promote sustainability measures like reduced resource wastage. Flow computers help optimize pipeline throughput and inventory management to curb losses.

Technological: Advancements in sensor technology, communications protocols and embedded computing have enhanced flow computer functionality. Devices now facilitate remote monitoring and predictive maintenance using edge analytics and IIoT connectivity.

Regions with high market value
North America dominates flow computer usage owing to large pipeline network for oil & gas transportation within the region and between Canada and USA. Europe and Asia Pacific also account for significant shares led by mature pipeline infrastructure for energy distribution within countries and across borders.

Fastest growing region
The Middle East region is expected to witness highest growth in Flow Computers Market demand over the forecast period. This is owing to ongoing and planned pipeline projects to support rising energy consumption within GCC countries and enable fuel exports from oil & gas reserves in the region. Extensive pipelines are being laid to transport natural gas, oil and water resources across Middle Eastern nations.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it