Flow Computer Market Industry Size, Revenue, Covid-19 Impact Analysis, Regional Trends, Company Profile, Developments and Opportunity Assessment 2024
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Flow Computer Market. The growth sectors of the Flow Computer Market are identified with precision for a better growth perspective.
Market Research Future (MRFR) expects the flow computer market 2020 to post a steady CAGR of 8.49% from 2019 to 2024 (evaluation period). We will provide covid-19 impact analysis with the report, offering an extensive market evaluation post the coronavirus disease outbreak.
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Top Impacting Factors and Primary Deterrents
The escalating need for advanced computing systems and the rising deployment of high quality flow computing technology in industries like water & wastewater, oil & gas, food & beverage and automotive have benefitted the flow computer market to a large extent. The emergence of technologically innovative products like single stream, multi-stream and scanner model flow computers also anticipated to work in the market’s favor during the appraisal period.
The increasing integration of cloud with flow computers can be a rising trend in the global market. A vast majority of the leading competitors are launching and developing more innovative products to gain higher impetus, and in turn, induce major market growth as well.
For instance, in June 2020, Bedrock Automation added a complete flow computer capability to its OSA platform, resulting in the release of a more powerful, easy-to-use and flexible solution that has expansive application scope in separators, custody transfer stations, and various oil and gas production plants.
The flow computer market research by MRFR outlines the key segments in the report, namely component, operations, connectivity, equipment and application.
The components considered in the report are Software, Services as well as Hardware.
The operation-wise market sections include Multi-Stream Flow Computers and Single Stream Flow Computers.
The segments, depending on connectivity are Wireless Flow Computers as well as Wired Flow Computers.
The equipment-based market categories are Density Measurement Equipment, Pressure Gauges, Meter Prover, Sampling System, Gas Composition Sensors, Temperature Probes, and others.
The key application areas of flow computers are Fuel Monitoring, Pipeline Transmission and Distribution, Wellhead Measurement and Optimization, Liquid & Gas Measurement, and more.
The flow computer industry has been regionally considered for Europe, Asia Pacific/APAC, MEA/the Middle East and Africa, South America and North America.
North America is projected to be the largest gainer in the global market during the evaluation period, racing ahead at a compelling rate. The North American market has been split into Canada, Mexico and the US/United States. However, the US has the strongest possibility of clinching the leading position in the regional market, expanding at a rate of 7.80%, with Canada set to post a growth rate of 6.72% while Mexico advancing at a rate of 5.86%. The flow computer market in the US is thriving backed by the high deployment rate of the latest technologies; and the fact that the country stands as the biggest consumer and producer of oil & gas resources. Going forward, the Canadian market for oil is inundated with top players like Canadian Natural Resources Limited, Suncor, Husky, Cenovus and Imperial Oil, who primarily deploy flow computers.
The MEA market can interestingly witness the fastest expansion in the coming years, given that the region is known for its massive production level of oil & gas across the globe. Qatar, the UAE, Iran and Kuwait are the leading oil-producers in the world, which favors the flow computer market in the region. The frequent technological innovations along with the augmented interest in adopting the latest technologies can be a big plus point for the regional market over the next couple of years.
Europe has claimed the second lead in the global market, thanks to the rising use of flow computers in industries like petrochemical, oil & gas and chemicals. The soaring demand for wastewater treatment also helps the market generate high revenues. The UK/United Kingdom consists of various industries that extensively use gas and oil production; such as breweries, milk-processing, beverages and alcohol, to name a few. All of these industries deploy flow computers to measure the volume, temperature and flow of gases and fluids.
The key companies outlined in the MRFR study are Rockwell Automation (Allen-Bradley), TechnipFMC PLC (FMC Technologies Measurement), ABB Ltd, Emersion Electric Co, Schneider Electric SE, OMNI Flow Computers, Inc, ProSoft Technology Inc. (Belden Inc.), Contrec Ltd, KROHNE Messtechnik GmbH (KROHNE Group), Schlumberger Limited, Flow Systems Inc, Honeywell International Inc, Co, Yokogawa Electric Corporation, Dynamic Flow Computers Inc, Flowmetrics, Inc., Kessler-Ellis Products, Thermo Fisher Scientific Inc, to list a few.
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