Upgrades and Replacement of Obsolete Flow Meters to Provide Additional Growth Opportunity

 Flow Meters Market

The measurement of liquid or fluid movement is flow measurement. Different types of flow meters are used in measurement of the movement of the fluid. Flow meter is used for measurement of mass, volumetric, linear and non-linear flow rate of fluid and gas. Flow meters consist of a scale, tube, indicator and stop. Moreover, the flow meters’ performance relies on certain factors like pressure, density, temperature and viscosity of the liquid. Most of the flow meters depend on forces produced by the flowing steam to indirectly measure the flow as it overcomes the known condition. But the positive displacement flow meters measure the flow by gathering a fixed volume of liquid then it counts the number of time volume is filled. Flow meters are known by different names like flow indicator, flow gauge, liquid meter and many more.

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Flow Meters are used by various industries include: water management, oil and gas, food processing, and energy management. The demand for flow meters from most of these industries has remained steady in the past. This trend will continue to remain so given that demand in these industries never really runs dry as they cater to essential needs such as food, water, and power. This will prove to be the greatest factor for the growth of the global flow meters market, as the market rises from its 2014 valuation of US$5.20 bn to a projected valuation of US$9.61 bn by 2021. These numbers, calculated by market intelligence firm Transparency Market Research, translate to a CAGR of 9.5% for the global flow meters market from 2015 to 2021. TMR analysts expect that capital projects mushrooming across the world, particularly in growth markets of APAC, MENA, and Latin America, will contribute considerably to the future of the flow meters market’s future.

The flow meters market is primarily driven by the increasing demand of capital projects globally. With the increasing demand of capital projects like petrochemicals, power industry, waste water management and many others the demand of flow meter market is escalating. Moreover, rising demand from refining and petrochemical industries is also fuelling the growth of flow meter market during the forecast period. In petrochemical and refining industries, they are used in gas flaring and produced water discharged among others. It helps in revenue calculation, quality control, environment regulation and many more. Replacement of obsolete flow meters with smart and advanced flow meter is also one of the driving factors of this market. Advanced flow meters like coriolis flow meters are boosting the market growth. They are more accurate and reliable than the previous generation of flow meters.

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Global Flow Meters Market: By Product Type

> Magnetic flow meter

> Coriolis flow meter

> Ultrasonic flow meter

> Turbine flow meter

> Vortex flow meter

> Others

Global Flow Meters Market: By Application

> Energy management

> Water management

> Food process

> Oil and gas

 > Others