Flow Research, Inc.
Contact: Belinda Burum, Flow Research: 781-245-3200 – email@example.com
Wakefield, Massachusetts (December 28, 2010) — A new research study from Flow Research, Volume X: The World Market for Flowmeters, 3rd Edition, finds that the worldwide flowmeter market totaled $4.6 billion in 2009 and is projected to grow substantially to exceed $5.5 billion by 2014.
new-technology flowmeter markets, including ultrasonic and Coriolis, are showing
the fastest growth, while positive displacement, turbine, and variable area
flowmeter markets are declining slowly. Flow
projects a compound annual growth rate (CAGR) in revenues for the total
worldwide flowmeter market of 3.7 percent through 2014.
The most rapid growth is in
The search for energy sources is a major driver of the worldwide flowmeter market, with flowmeter growth strongest in the oil & gas industry. With crude oil selling in the $80-per-barrel range, measurement accuracy and reliability are becoming increasingly important. Ultrasonic and Coriolis flowmeters for custody transfer measurement are two of the fastest growing segments.
Research contacted more than 365 people at 270 flow companies for the study,
which includes all 14 types of commercial and industrial flowmeters used in the
process industries, including the emerging technologies of sonar and optical.
According to Dr. Jesse Yoder, president of Flow Research, the future looks bright for flowmeters:
“Although the global recession over the last two years took its toll on the flowmeter market, we see a strong future for the world flowmeter market. Many companies report that sales have already been higher this year, with an even brighter outlook for the second half of 2010 and on into 2011. This market is benefiting from the drive for new energy sources, including the search for more oil and gas, as well as increasing renewable energy development. The market is also continuing its shift from traditional flowmeters to new-technology flowmeters at a rate that exceeds one percent a year. Increased concerns with accuracy and reliability in measurement could accelerate that trend.”
1 shows projected shipments of flowmeters worldwide in millions of dollars,
including all flowmeter types, from 2009 to 2014.
Residential flowmeters are not included.
Flow Research, provides research on flowmeters and instrumentation. Recent market studies include magnetic, thermal, and vortex flowmeters. Flow Research also publishes quarterly reports on the flowmeter and energy markets as part of the Worldflow Monitoring Service (www.worldflow.com).
Total Shipments of All Flowmeters Worldwide
(Millions of Dollars)