LeapZipBlog: Market-NewsFlash's blog: Flow Computer Market To Garner Exponential Growth By 2024: International News ($ 1474.13 Million Market)

Flow Computer Market To Garner Exponential Growth By 2024: International News ($ 1474.13 Million Market)

November 19, 2019 by Market-NewsFlash  

Global Flow Computer Market Research Report: by Component (Hardware, Software and Services), by Operations (Single Stream Flow Computers and Multi-Stream Flow Computers), by Connectivity (Wired Flow Computers and Wireless Flow Computers), by Equipment (Pressure Gauges, Temperature Probes, Gas Composition Sensors, Meter Prover, Sampling System, Density Measurement Equipment and others), by Applications (Fuel Monitoring, Liquid & Gas Measurement, Wellhead Measurement and Optimization, Pipeline Transmission and Distribution and others) and by Region (North America, Asia-Pacific, Europe, Middle East and Africa and South America) — Forecast till 2024

Flow Computer Market Highlights

The global flow computer market is spanned across North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America is expected to account for the largest share in the flow computer market, with a significant growth rate during the forecast period. For the purpose of analysis, North America has been categorized into three regions — the US, Canada, and Mexico. During the forecast period, the US is expected to be the leading region in terms of market share, growing at a CAGR of 7.80%, followed by Canada with 6.72% and Mexico with 5.86%. 

 

The US accounted for the largest market share in the region due to the presence of advanced technology; furthermore, the country is the largest producer and consumer of oil & gas resources. The key players in the oil production in Canada are Suncor, Canadian Natural Resources Limited, Imperial Oil, Husky, and Cenovus, which use flow computers to enhance their measurement operations and performance of the system by reducing measurement uncertainty during the process. Thus, flow computers make measurement systems more precise and accurate. Trillium Measurement and Control and Flowmetrics Inc., among others, are some of the companies operating in Canada and offering flow computers systems and equipment.

On the other hand, the Middle East & Africa is expected to foresee the fastest growth in the flow computer market since this region is the largest producers of oil & gas in the world. The UAE, Qatar, Kuwait, and Iran are some of the important oil-producing countries globally. Moreover, the technological advancements and high adoption of new technology are the key factors driving the flow computer market in the region, as these systems allow the operator to monitor the systems.

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Global Flow Computer Market, by Region, 2018 (%)

Europe accounts for the second-largest market share in the global flow computer market. Europe has various industries, including chemicals, petrochemical, and oil & gas, which use flow computer systems. The rising awareness for wastewater treatment is another factor driving the growth of the flow computer market. Countries such as the UK has various industries which use both oil and gas for production; for instance, milk-processing, breweries, alcohol, and beverages, among others. These industries use flow computers during the process for calculating the flow, volume, and temperature of fluids and gases. There are various companies in Germany such as KROHNE Messtechnik GmbH, Bopp & Reuther Messtechnik GmbH, STILL GmbH, and Bopp & Reuther Messtechnik GmbH who manufactures and sells flow computers in the country and European region also contributes to the growth of the market.

The Global Flow Computer Market is expected to reach USD 1474.13 million at a CAGR of over 8.49% by the end of the forecast period 2019–2024.

Prominent Players

Some of the Prominent Players in the global flow computer market are ABB Ltd, Honeywell International Inc, Schneider Electric SE, Yokogawa Electric Corporation, Emersion Electric Co, Rockwell Automation (Allen-Bradley), ProSoft Technology Inc. (Belden Inc.), KROHNE Messtechnik GmbH (KROHNE Group), OMNI Flow Computers, Inc, Schlumberger Limited, Thermo Fisher Scientific Inc, Contrec Ltd, Dynamic Flow Computers, Inc, Flow Systems, Inc, Kessler-Ellis Products, Co, TechnipFMC PLC (FMC Technologies Measurement), and Flowmetrics, Inc.

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