ARC’s market research on flowmeters investigates the market across four product segments: Coriolis, ultrasonic, magnetic, and vortex flowmeters. While the four modern technologies are a major competition to traditional measurement technologies, these modern technologies also compete among themselves. Each flow technology has its unique merits that make it well suited for certain applications.
Energy saving measures by users across industries are compelling them to monitor fluid usage such as chilled water, steam, compressed air, and natural gas at the plant utility area. This helps users monitor energy usage and efficiency, conserve resources, and reduce maintenance costs. This application will find further usage in the emerging industries such as renewables for energy metering.
Growth opportunities are opening in both developing and developed economies, and the report provides suppliers with significant insights into the target industries and application trends.
In addition to the individual flowmeter research reports listed below, ARC also has an overall Flowmeter research report.
The Coriolis flowmeters market has witnessed significant growth over the last few decades. However, the market will witness a dip in growth in 2020 due to the current global pandemic situation and political reasons; owing to this, there will be big economic uncertainties. Apart from these inhibiting factors, ARC expects that the global demand for Coriolis flowmeters will grow in the coming years over the forecast period.
Coriolis flowmeters have emerged as one of the leading technologies for measuring volume and concentration in demanding process applications. Lately, the Coriolis flowmeter is getting more traction with users because of the technology advantages and near-stable average selling price. The device comes with no moving parts exposed to the process media, low maintenance/low total cost of ownership, higher accuracy, no straight run pipe requirements, and smaller meter size direct mass flow measurement.
More information on the Coriolis Flowmeters study.
Magnetic flowmeters come exceedingly close to being ideal flowmeters for liquid applications and have tremendous potential to gain market share in process industries, especially the water & wastewater and chemical industries. Whether liquids are clean, dirty, or viscous, magnetic flowmeters can measure them all, from high flow rates to a trickle, as long as the liquid is conductive. These flowmeters are the preferred technology for many applications in the process industry and remain competitive in the general-purpose and special construction segments.
Magnetic flowmeters face increasing competition from ultrasonic and, to some degree, Coriolis meters. The aggressive pricing and new low-cost versions of these other flowmeter technologies pose a formidable challenge. Despite the competition and the fact that it is a mature technology, the market for electromagnetic flowmeters has seen considerable growth in the past few years, largely driven by increased demand in the water & wastewater sector.
More information on the Magnetic Flowmeters study.
Ultrasonic flowmeters, once limited to applications in the water and wastewater industry, have now found wider usage, particularly in the hydrocarbon industries, and are gradually getting a foothold in new and emerging segments, such as the renewable energy industry for thermal energy metering. After early accuracy and “misapplication” missteps, ultrasonic technology has been perfected, and suppliers are continually making improvements in accuracy and the ability of ultrasonic flowmeters to perform in even the most demanding applications.
Today’s ultrasonic instruments feature advanced diagnostics and signal processing qualities to compete with other flow technologies and offer a compelling value proposition to users. They stand poised for widespread adoption in the process industries, particularly the hydrocarbon sector. New application trends of ultrasonic flowmeters are emerging due to rising costs of energy and end users’ need for conserving resources through accurate measurement.
More information on the Ultrasonic Flowmeters study.
Vortex flowmeters are suitable for measuring flow of several types of media operating under high pressure and temperature conditions, such as liquids, gases, and saturated and superheated steam. Advances in vibration eliminating technology, multivariable transmitters, and dual sensor vortex meters have increased the reliability and application range of these devices. Low maintenance and installation costs are also making them more attractive to users.
All these advancements have seen increased adoption of vortex technology in the process industries, especially in the chemical, refinery, power generation, water and wastewater, and oil & gas segments. Revival of the oil & gas sector is expected to have a positive impact on the Capex and OpEx of the manufacturing sector in general. Moreover, users are realigning their operations to adjust with the dynamics in the oil & gas sector, especially upstream activities, and suppliers need to follow suit.
More information on the Vortex Flowmeters study.