Market Overview
A flow computer is an industrial computer used to calculate flow rates in oil and gas applications. It accepts input from flow meters, pressure transmitters and temperature transmitters and applies compensation factors to calculate mass flow rates, flow totals and energy fluctuations. Flow computers helps improve process operations, production optimization and regulatory compliance at oil and gas facilities. The growing need for operational efficiency and digitalization across oil and gas industry is driving demand for advanced flow computers. The global flow computers market is expected to grow substantially during the forecast period.
The Global flow computers market is estimated to be valued at US$ 816.23 Mn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031.
Key Takeaways
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., and TechnipFMC plc.
The growing demand from oil and gas industry as well as need for flow measurement accuracy is driving the Flow Computers Market Demand Various governments across the globe are also supporting increased capital expenditure in oil and gas industry which is positively impacting the market.
Many companies are focusing on global expansion plans and entering into partnerships to garner higher share of flow computers market across regions. Market players are investing in developing advanced technologies like AI integrated flow computers with edge computing capabilities.
Market Key Trends
Digitalization of oil and gas sector along with rising application of Industrial IoT (IIoT) and analytics is a major trend in flow Computers Market Size AND Trends Adoption of cloud based flow computers with remote accessibility is increasing. Growing focus on emission monitoring and mitigation is also driving demand for advanced flow metering solutions integrated with flow computers. Increasing complexities in exploration and production activities constantly require upgraded flow computing technologies for process optimization. Sustainable operations with reduce environmental footprint will be an important trend shaping future of flow computers market.
Porter’s Analysis
Threat of new entrants: Low industry barriers such as technology and capital requirements makes threat of new entrants moderate.
Bargaining power of buyers: Presence of multiple flow computer manufacturers gives buyers higher bargaining power.
Bargaining power of suppliers: Component suppliers have lower bargaining power due to availability of alternative component sources.
Threat of new substitutes: Alternate measuring technologies pose limited threat currently due to flow computers’ accuracy and reliability.
Competitive rivalry: Intense competition among major players to gain higher market share keeps pricing and profit margins low.
Geographical Regions
North America accounts for the largest market share currently, driven by extensive oil & gas operations in the US and Canada. The Asia Pacific region is projected to grow at the fastest pace through 2031, led by ramp up of activities in China, India and other Southeast Asian countries.
Flow computers market value is heavily concentrated in the Middle East due to world’s largest hydrocarbon reserves and ongoing projects in Saudi Arabia, UAE and Kuwait. Countries like Saudi Arabia and UAE are also forecast to emerge as the fastest growing regional markets through 2031 on back of vast shale exploration plans.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile