LONDON--(BUSINESS WIRE)--The global flow computer market is expected to grow at a CAGR of close to 6% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global flow computer market for 2017-2021. The global flow computer market has been segmented based on products into the wired and wireless segments. Wired flow computers are expected to remain dominant over the forecast period. However, the wireless segment is expected to grow faster with a CAGR of more than 10% from 2016 to 2021.
“Solar powered and wireless system additions in flow computers have increased their capability to access remote locations reliably. Technological additions such as integration with the cloud, compatibility with meters, and multi-meter run handling have increased the accuracy and usage of flow computers,” says Raghav Bharadwaj Shivaswamy, a lead automation research expert from Technavio.
Technavio’s research analysts segment the global flow computer market into the following regions:
- Americas
- APAC
- EMEA
Flow computer market in Americas
The flow computer market in the Americas is expected to increase at a CAGR of more than 5%. North America, Mexico, Brazil, Canada, Argentina, and Venezuela are the major markets for flow computers in the Americas.
Oil sands production in Canada, shale oil and gas production in Argentina, and offshore production activities in Brazil will drive the growth of the flow computer market over the forecast period. It is predicted that there will be an improvement by 2021 in exploration activities in Venezuela, which will further augment the flow computer market.
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Flow computer market in APAC
The flow computer market in APAC is expected to grow at a CAGR of 7.95% during the forecast period. China, India, Indonesia, Turkmenistan, Pakistan, Azerbaijan, Singapore, Malaysia, Australia, the Philippines, Thailand, South Korea, Japan, and Papua New Guinea are the major markets for flow computers in this region.
The large-scale discovery of natural gas resources in Australia, Papua New Guinea, and Indonesia will bring in many investments in the LNG field during the forecast period. In the liquefaction process, flow computers are deployed to measure the flow from the wellhead to the plant, and in the storage of liquefied gas in the plant before transportation.
“APAC is expected to see rapid growth in the demand for flow computers over the forecast period. Increasing population and subsequent demand for power, water, petrochemicals, and oil and gas will increase the market for flow computers,” says Raghav.
Flow computer market in EMEA
Russia, Saudi Arabia, Iran, Iraq, Oman, Qatar, Bahrain, Egypt, France, Germany, Kuwait, Norway, Tanzania, Mozambique, Nigeria, Algeria, the UK, the UAE, and Turkey are the major markets in this region.
Russia is one of the biggest players in oil and gas exploration and production. Since 2014, low oil prices have caused an economic decline as Russia's revenue depends largely on oil and gas exports. Sanctions by the European Union, due to Crimea annexation and disruption in energy supply to the EU, affected the energy trade of Russia with Europe, which is the major market for Russia. There are many power projects under construction in Africa to cater to the growing domestic demand. In addition, petrochemical capacity is expected to rise in the Middle East and Africa, thus fueling the demand for flow computers.
The top vendors in the global flow computer market as highlighted in this market research analysis are:
- ABB
- Cameron International
- Emerson
- Schneider Electric
- Yokogawa
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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