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For immediate release
Traditional Flowmeters Dominate the Gas
Flowmeter Market, Finds New Flow Research Study
Wakefield, Massachusetts; November 10, 2004 — The
worldwide gas flowmeter market equaled $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 percent through 2008, when
they are expected to equal $729 million.
North America accounts for 37 percent of the total, while Europe
accounts for just over 31 percent. The
fastest growth will occur in the Rest of World and Asia without Japan
In 2003, revenues from positive displacement (PD)
flowmeters exceeded revenues from all other gas flowmeter types. The large majority 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.
Traditional technology flowmeters, especially
positive displacement and turbine meters, dominate the gas flow
measurement market. 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. However,
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. The
vortex and thermal flowmeter markets are relatively small, and have only
shown moderate growth.
Ultrasonic flowmeters are projected to be the fastest growing type of meter used to measure gas flow. Ultrasonic flowmeter revenues are projected to show a CAGR of 10.9 percent throughout the forecast period. Growth in the use of ultrasonic flowmeters will be driven by their use in custody transfer of natural gas, and for process gas and check metering applications. Market acceptance of ultrasonic flowmeters is broadening as they receive more approvals from industry associations and as end-users become more familiar with them. Coriolis flowmeter revenues are projected to be the second-fastest growing of any type of flowmeter used to measure gas flow through 2008.
Flow Research, Inc.
Flow Research is a market research company that
specializes in providing market data and strategies on flow, pressure, and
temperature. Dr. Jesse Yoder,
who has 17 years’ experience as a writer and analyst in process control,
founded Flow Research in 1998. The
company recently completed a series of eleven market studies on the
worldwide flowmeter market. More
information is available at www.flowresearch.com.
Another service provided by Flow Research is the Worldflow
Monitoring Service. This
Worldflow service includes monthly reports on the flow and process
industries. These reports
include the Worldflow Barometer, Worldflow Monitor,
and Worldflow Perspective. The
service is designed to provide up-to-date information between market
studies. Flow Research can
provide charts and graphics from The World Market for Gas Flow Measurement
upon request. A chart
is available at www.flowresearch.com/news.html.
Total Shipments of Gas Flowmeters Worldwide
(Millions of Dollars)