Oil & Gas Industry Slowdown Hinders Market Growth
Advanced flowmeter technologies offer end users increased accuracy, visibility into production operations, and low maintenance profiles, compared to the traditional differential pressure-based technologies and even older mechanical technologies. While over half a dozen flowmeter technologies are available, ARC’s flowmeters market research study covers four of the most popular advanced flowmeter technologies: Coriolis, vortex, magnetic, and ultrasonic.
Widespread adoption of intelligent flowmeters has helped owner-operators to improve the accuracy of their flow measurements, with repeatability and reliability previously unavailable with older mechanical meters.
The application versatility, long-life, and dropping average selling price of these technologies will help the market grow in the long run. However, in the short-term the downturn in the oil & gas industry is inhibiting market growth. Many integrated oil companies, oilfield service providers, and independent E&P players are reducing budgets, laying-off staff, and canceling or delaying projects. This slowdown has significantly influenced the 2015 flowmeter shipments. The global demand for flowmeters is expected to remain sluggish in the near future as well.
This study provides strategic market information and guidance for the worldwide flowmeter marketplace. It helps answer strategic questions, such as:
• How large is the market potential for different flowmeter technologies?
• Who are the leading suppliers?
• What does the future hold for this market?.