Flow computers are electronic devices used for flow measurement and revenue calculations in the process industries like oil & gas, chemicals and water & wastewater. They are capable of receiving inputs from various flow measurement devices like flow meters, pressure transmitters and temperature sensors to calculate mass and volumetric flow rates. Flow computers help monitor, control and optimize production volumes and quality.
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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Surge in oil & gas exploration activities is one of the major trends propelling the growth of global flow computers market. According to the U.S. Energy Information Administration (EIA), global proved reserves of oil and natural gas have increased in recent years, supported by rising crude oil and natural gas prices along with advancements in exploration and production technologies. This has resulted in higher demand for flow measurement devices like flow computers from oil & gas companies to optimize production volumes and enhance recovery. Better production monitoring capabilities offered by advanced flow computers allow oil & gas producers to maximize asset utilization and profitability. This is encouraging more operators to invest in smart flow measurement solutions, thereby driving the flow computers market growth over the forecast period.
SWOT Analysis
Strength: Flow computers have features such as data computation, data storage, communications capabilities and can handle large volumes of data which helps in real-time monitoring.
Weakness: High initial investment required for installation and maintenance of flow computers. Additional costs incurred for software and networking services.
Opportunity: Increasing production of oil and gas especially from unconventional resources is driving demand for flow computers. Growing adoption of digital technologies in process industries also presents an opportunity.
Threats: Vulnerable to cyber threats due to networking and data storage capabilities. Competition from low-cost alternatives can also impact sales.
Key Takeaways
The global flow computers market is expected to witness high growth over the forecast period of 2023 to 2030. 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 to 2030.
Regional analysis: The North America region is expected to continue its domination during the forecast years mainly due to increasing shale gas production and mature pipeline infrastructure in the US and Canada. Growth will be driven by rising adoption of digital technologies by major oil companies to optimize production.
Key players: Key players operating in the flow computers market are Emerson Electric Co., Schneider Electric, ABB Ltd., Contiero S.r.l., Honeywell International Inc., Kessler-Ellis Products, Inc., Thermo Fisher Scientific Inc., Yokogawa Electric Corporation, FMC Technologies, Inc., OMNI Flow Computers, Inc. The market is highly competitive with major players focussing on product innovations and expanding in high growth regions.
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- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it