Flow computers are electronic devices used for flow measurement and operations in oil and gas production facilities. They are installed at wellheads, pipelines, process separators, and refineries to measure the rate of flow, volume, pressure, and temperature of oil, gas, and water. The devices help oil and gas companies account for production volumes and optimize operations. They are also vital for custody transfer applications where the producer sells the produced fluid to midstream companies.
The global Flow Computers Market is estimated to be valued at US$679.5 million in 2024 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 Dynamics:
Increasing oil and gas production activities globally are expected to flourish the flow computers market over the forecast period. According to the U.S Energy Information Administration, global liquids production is projected to increase from 97.2 million barrels per day in 2023 to 101.1 million barrels per day in 2024. Countries such as Saudi Arabia, Russia, and the U.S. are expanding their oil production capacities significantly. For instance, Saudi Aramco plans to raise its maximum oil production capacity to 13 million barrels per day by 2027. This rise in output will drive the demand for flow measurement instrumentation like flow computers at oilfields.
Additionally, the shift toward digitization of oil and gas assets is also fueling the adoption of advanced flow computers. Digital technologies help producers optimize production volumes, reduce costs, and enhance productivity. Flow computers equipped with analytics solutions help oil companies achieve these objectives. Their ability to gather real-time production data and automate operations enhances productivity and efficiency. This is encouraging operators to upgrade to smarter flow computers integrated with Industrial Internet of Things (IIoT) technologies.
Segment Analysis
The global flow computers market is dominated by the oil & gas segment. This segment accounts for more than 50% market share owing to extensive utilization of flow computers in oil and gas production facilities for custody transfer applications. The growing natural gas trade and increasing export volumes are stimulating the demand for flow computers from the oil & gas industry. Flow computers find widespread adoption in oil & gas infrastructure like pipelines, processing facilities etc. for accurate fluid measurement and allocation.
Pest Analysis
Political: Flow meters experience stable support through regulations framed to ensure correct and legal fluid transfer accounting and volume measurement.
Economic: Rising energy demand and commodity prices increase investments in oil & gas production and transportation infrastructure favoring flow computer procurement.
Social: Strict safety and loss prevention norms imposed on oil & gas sector drive demand for advanced flow metering solutions for operational transparency.
Technological: Developments in digital flow measurement, wireless data transmission, integrated diagnostics etc. are expanding capabilities of modern flow computers.
Key Takeaways
The global flow computers market is expected to witness high growth over the forecast period supported by increasing investments in oil & gasE&P activities globally. The global Flow Computers Market is estimated to be valued at US$679.5 million in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030.
The North America region currently dominates the market owing to substantial shale oil & gas production and established pipeline network in the US and Canada. Flow computers find widespread adoption across midstream and downstream applications in the oil & gas industry. Countries like the US, Canada and Mexico are also strengthening cross-border petroleum trade boosting flow meter deployment.
Key players related content comprises
Key players operating in the flow computers market are Emerson Electric Co., Schneider Electric, ABB, Honeywell International Inc., Yokogawa Electric Corporation
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
