Dallas, TX -- (ReleaseWire) -- 04/28/2014 -- The report, “Flow Meters Market by Type (Differential Pressure, Positive Displacement, Magnetic, Ultrasonic, Coriolis Turbine, Vortex and Others) and by Application (Water & Wastewater, Oil & Gas, Refining & Petrochemicals, Food & Beverages, Chemicals, Power Generation, and Others) - Global Trends & Forecast to 2019”, defines and segments the global flow meters market with an analysis and forecast for types and applications by volume. The flow meters market consumption will grow from an estimated $5.26 billion in 2013 to $7.9 billion by 2019, with a CAGR of 7.2% from 2014 to 2019
Browse 71 market data tables and 74 figures spread through 185 slides and in-depth TOC on “Flow Meters Market - Global Trends & Forecast to 2019”
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Ultrasonic and coriolis flowmeters will create new revenue pockets.
Ultrasonic and coriolis flow meters are increasingly used in a number of applications and expected to generate new revenue pockets. Better accuracy and turn down ratio of such flow meters are making it popular in a number of applications such as oil & gas, refining, and pertochemicals. Moreover, ultrasonic and coriolis flow meters are currently preferred over conventional flow meters such as positive displacement and differential pressure in oil & gas, refinery, and food and beverage industries in North America and Europe. The rising concerns and new stricter regulations in North America and Europe against custody transfer of oil & gas is driving the growth for the new generation flowmeters.
The market for flow meters in North America is expected to report decent growth in the coming five years. Rising oil & gas industry in U.S. and Canada and increasing infrastructure in Mexico are the key drivers for growth in the region. In the matured markets such as North America and Europe, the demand for new generation flow meters such as coriolis and ultrasonic types is increasing at a faster rate than the other flow meters.
Multiphase meters replacing conventional test separators
In the oil & gas industry, multiphase flow measurement has been one of the burning topics for the last decade. Multiphase flow meters are used for the determination of flow rates of gas, oil, and water in a stream, under the constantly changing fluid compositions and volume fractions
Multiphase flow meters are slowly replacing conventional test separators in the hydrocarbon industry. Test separators are large in size and difficult to maintain. As a result, multiphase flow meters can be considered as a replacement of test separators in the near future. Multiphase meters provide continuous measurements that allow better reservoir management and quicker response to water breakthrough and similar events.
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