Modern Flow Meters Forecast Growth with Rising Energy Sector Demands
By Tabitha Naylor
Posted: Apr 2, 2013
The outlook for the flow meter industry remains strong as suppliers develop new products and applications to satisfy the rising demand coming from the energy sector.
Oil and gas companies are working hard at increasing production and efficiency rates as global energy consumption reach record highs driven by economic growth in developing countries like China and India, as well as continued global population growth. Flow meters are important components used in every step of the way from production to the distribution of fuels.
Ultrasonic and Coriolis flow meters are fast gaining favor from end-users in the energy sector for their ability to provide better accuracy, reliability and efficiency at the same time minimizing costs for periodic maintenance.
Ultrasonic flow meters have increased in popularity since they were approved by the American Gas Association (AGA) in 1998. Since then, they have proven to be very reliable with regard to gas measurement accuracy for commercial purposes.
The use of natural gas is gaining wider acceptance and is fast becoming the next global fuel source next to oil and coal. As worldwide gas production records are surpassed year after year with growth forecasts well into 2014, Ultrasonic flow meters have also rapidly become the meter of choice for gas pipeline companies over the past decade and a half.
Manufacturers still continue to focus a great deal of attention on improving Ultrasonic flow meter designs. New breakthroughs in accuracy and reliability are achieved largely by integrating more flow paths, which add more data measurement points and allow for more diagnostic capabilities. Recent releases from Emerson and GE Measurement have even addressed the need for ultrasonic meters in liquid petroleum applications.
Like Ultrasonic meters, Coriolis flow meters also have extremely high accuracy coupled with very low maintenance requirements by virtue of its lack of moving parts, which can deteriorate and malfunction.
Market growth for Coriolis meters is expected to be at 12.05% compounded annually well into 2016, which is driven by increasing demand across different process industries, according to a report from TechNavio. Coriolis meters are more commonly used in the food and pharmaceutical sectors due to their suitability to sanitary and hygienic applications.
Recent releases from GE, Endress+Hauser, Micro Motion and KROHNE, however, show an increasing trend in the use Coriolis flow meters in the oil and gas market. This more recent adoption is attributable to the development of new products with larger line sizes, which makes them more suitable for use in the energy sector.
With the projected outlook of the energy sector showing nothing but growth over the next decade and beyond, flow meter sales should continue to grow and expand, fueled by energy's growth. As new applications and functional enhancements continue to come online, all indications are that this growth should remain steady into the foreseeable future.
Submit Press Release
