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Nick Limb, Ducker Worldwide: (248) 644-0086 - firstname.lastname@example.org
For immediate release
Wakefield, Massachusetts, March 26, 2002 — The worldwide market for Coriolis flowmeters will continue to grow at a rapid pace for the next several years, according to a market study from Flow Research and Ducker Worldwide. The study, entitled The World Market for Coriolis Flowmeters, finds that users are selecting Coriolis flowmeters because of their accuracy and their reliability. Other important developments include advances in straight-tube Coriolis flowmeters and the introduction of low-cost Coriolis meters. The study projects that worldwide Coriolis flowmeter revenues will grow from $412 million in 2000 to $671 million in 2005. This represents a compound annual growth rate of 10.4 percent.
Coriolis flowmeters are the most accurate flowmeter made. While many magnetic flowmeters have accuracies in the range of 0.5 percent, many Coriolis flowmeters achieve accuracy of 0.1 percent. It is the high accuracy of Coriolis flowmeters that is one of the major reasons for their extremely rapid growth over the past five years. Companies that need flowmeters for custody transfer, or want highly accurate measurements in terms of mass, have a good reason to select Coriolis flowmeters.
Accuracy and reliability are the top two drivers of the flowmeter market. This has been demonstrated in a number of different surveys of flowmeter users conducted over the past six years. Coriolis flowmeters rate very high on both counts. Not only are Coriolis flowmeters the most accurate meter, they also require very little maintenance. With no moving parts, apart from the vibrating tube, Coriolis meters require a minimum amount of attention once they are installed. With no moving parts to wear out or degrade, they are a very reliable meter.
Coriolis flowmeters are advancing on a number of fronts. Since Krohne introduced straight-tube meters in 1994, these meter types have been growing in popularity. Straight-tube meters have several advantages. They have lower pressure drop than bent-tube meters. They are also easier to keep clean, since the fluid doesn’t have to travel through the curvatures of bent-tube meters. Straight-tube meters are better able to handle high velocity fluids than bent-tube meters. Even though bent-tube meters still outnumber straight-tube meters, straight-tube meters are showing faster growth.
Another important area of growth for Coriolis is in gas flow measurement. In the past five years, a great deal of progress has been made in adapting Coriolis meters to measuring gas as well as liquid flow. The American Gas Association (AGA) has already issued a technical note on the use of Coriolis flowmeters to measure natural gas flow. The AGA is working on a report on this subject that may be available in 2003. This report, once it is issued, will result in a major boost in the use of Coriolis flowmeters for custody transfer of natural gas.
Coriolis suppliers have recently broken price barriers on Coriolis meters. Both Micro Motion and Endress & Hauser have introduced Coriolis flowmeters with a substantially reduced purchase price. While these meters do not have the same accuracy rating as the higher-priced meters, they suddenly make Coriolis meters competitive with magnetic, ultrasonic, vortex, and positive displacement meters. The presence of these lower-cost meters could have a major impact on the Coriolis market. It removes, or at least reduces, one of the major barriers to adoption of Coriolis meters: high initial cost.
Flow Research is a market research company that specializes in providing market data and strategies on flowmeters and other measurement devices. Dr. Jesse Yoder, who has 15 years’ experience as a writer and analyst in process control, founded flow Research in 1999. The company recently completed a series of six market studies on new-technology flowmeters, comprising over 3,000 pages. In addition to market research, Flow Research conducts technical research on flowmeters in its flowlab.
Flow Research is partnering with Ducker Worldwide (Bloomfield Hills, MI) to produce a series of 12 market studies on flowmeters, covering all the flow technologies. The World Market for Coriolis Flowmeters was produced as the part of this series. The first six of these studies, which cover the new-technology flowmeter market, are complete. Ducker Worldwide has 40 years’ experience researching industrial and business markets, and has offices throughout the world. Flow Research can provide charts and graphics from The World Market for Coriolis Flowmeters upon request.
Flow Research recently announced a new service called the Worldflow Monitoring Service that includes Quarterly Reports on the flow and process industries. These reports include the Market Barometer, Process Industry Monitor, and User Perspective. It also includes a centralized “Living Database” of detailed product information from most suppliers of flowmeters worldwide. Flow Research and Ducker Worldwide are partnering on the user surveys that are part of the Worldflow Monitoring Service.
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