Flow Research, traditional flowmeters dominate gas flowmeter market: Study
Posted: 24 November 2004
The worldwide gas flowmeter market equalled $680 million in 2003, according to a new market study from Flow Research. The study is called The World Market for Gas Flow Measurement, and it includes eight types of flowmeters.
Revenues from the sale of gas flowmeters are projected to increase at a compound annual growth rate (CAGR) of 1.4 per cent through 2008, when they are expected to equal $729 million. North America accounts for 37 per cent of the total, while Europe accounts for just over 31 per cent. The fastest growth will occur in the Rest of World and Asia without Japan regions.
Traditional technology flowmeters, especially positive displacement and turbine meters, dominate the gas flow measurement market. In 2003, revenues from positive displacement (PD) flowmeters exceeded revenues from all other gas flowmeter types. Most of these revenues were from positive displacement flowmeters sold for utility and billing applications. Turbine flowmeters were the second leading type of flowmeter sold for gas applications, followed by differential pressure (DP) flowmeters.
Ultrasonic meters are the biggest revenue generator among new-technology meters. They have made a major impact on the market for custody transfer of natural gas, and they are also now being used for billing and utility applications of natural gas. Coriolis meters have had a more limited use for gas flow measurement, since the low density of gas presents difficulties for the use of Coriolis meters to measure gas flow.
Ultrasonic flowmeters are projected to be the fastest growing type of meter used to measure gas flow, with a CAGR of 10.9 per cent. Ultrasonic flowmeters are used in custody transfer of natural gas, and for process gas and check metering applications. Market acceptance of ultrasonic flowmeters is increasing as they receive more approvals from industry associations and as end-users become more familiar with them.
Posted by Alexander Lindsay, Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
