Flow Computer Market Size, Share & Trends

Updated on : October 22, 2024

Flow Computer Market Size & Share

[183 Pages Report] The Flow Computer Market in oil & gas is projected to grow from USD 798 Million in 2023 to USD 1,067 Million in 2028; it is expected to grow at a CAGR of 6.0% from 2023 to 2028.

The market growth is driven by factors including the technological advancements in oil & gas industry and suitability in many functions of the oil & gas industry and increasing adoption of process automation providing opportunities for flow computer industry in oil & gas. However, interoperability of multiple components from different solution providers are challenging the market growth

Flow Computer Market Size and Forecast to 2028

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Flow Computer Market Trends and Dynamics

DRIVERS: Technological advancements in oil & gas industry

Digital transformation and automation are emerging trends in the oil & gas industry, which is experiencing rapid digitalization with smarter operations, thus giving rise to the digital economy. Digital transformation or automation enables deployment of a minimum workforce in remote onshore & offshore exploration sites. The demand for operational digital oilfield solutions is increasing due to limited oil or fuel supply to the growing number of vehicles in the market, which compels the oil industry to adopt new and improved technologies. The implementation of systems such as DCS, PLC, smart well, and SCADA in the upstream segment helps automate the control process and offers real-time data.

RESTRAINT: High cost of flow computer and regular maintenance

Flow computers are known for providing accurate and reliable flow measurements in the oil & gas industry. They require specialized components and manufacturing processes to achieve a high level of accuracy and reliable flow measurement. New-age components provide add-on features and functionality, such as the measurement of multiple fluid parameters simultaneously and diagnostic and calibration features, which give advantages over other flow measurement devices. These add-on features and functionality increase the cost of the device and maintenance costs. If the add-on features may not be justifiable for pipeline operators and cannot return on investments in terms of improved efficiency, accuracy, and reduced operating cost, then flow computer becomes a non-viable option for the operators. Hence, high product and maintenance costs become restraints for operators looking to minimize their cost of ownership.

OPPORTUNITIES: Growing demand for offshore/ultra-deep discoveries.

The oil & gas industry is going through a phase of technological advancements in exploration technology for deepwater exploration and production activities and the commercial viability of the projects. Current advances allow oil companies to improve recovery and accelerate production.

Offshore wells may have a different level of automation, ranging from simple one-way monitoring to complex subsurface controls with intelligent completions. Petrobras (Brazil) has created a corporate program dedicated to studying, developing, and implementing digital integrated field management (GeDIg) among its production assets. Petrobras selected the Carapeba field as a pilot project. It is a mature field composed of three wells located in the northeastern part of the Campos Basin, which has installed automated subsurface sensors in the wells.

CHALLENGES: Interoperability of multiple components from different solution providers.

Companies in the upstream segment often buy and assemble components from different vendors depending on customer requirements. This makes the Flow Computer Market size highly consumer-dominated, so no standard or generalized product can be developed by a single player. In that case, interoperability with other systems and components is a challenge for upstream operators. Adding any alternative system, hardware, or software that is not compatible with some of the digital oilfield systems, such as the flow computer, becomes a constraint as it has to integrate with the existing system for optimum results seamlessly. Developments for integrating various services with each other are expected to overcome this challenge faced by oilfield operators.

Flow Computer Market in Oil & Gas Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers and providers of flow computers. These companies have been operating in the flow computer market size for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Emerson Electric Co. (US), Honeywell International, Inc. (US), ABB (Switzerland), Thermo Fisher Scientific Inc. (US), and Schneider Electric (France).

Market By Operation Insights:

Midstream & Downstream segment is expected to register higher market share during the forecast period

The crude oil and natural gas are distributed through midstream pipelines and tankers. Since these pipelines carry important and pricey materials, they require continuous monitoring. The flow computers perform metering, meter proving, ticketing, valve control, batching, and product interfacing.

In the midstream application, positive displacement, ultrasonic, Coriolis, and turbine flow meters are majorly used and connected to flow computers. These flow computers can also be utilized in leak detection and pipeline control. Similarly, in downstream, flow computers are used for the distribution of oil & gas from one source to multiple sources. They are also used for flow indication and control.

Apart from billing, the flow computers are also used for flow measurement at ship, rail, and road loading. As a result, the market size of flow computers in midstream and downstream operations is larger than upstream operations.

Offering Insights:

Hardware segment is expected to register higher market share during the forecast period

In the hardware component, the market for flow computer devices is considered. The flow computers are used in upstream, midstream, and downstream oil and gas operations. These flow computer devices perform significant tasks of accurate flow calculations and therefore are employed at multiple operation points.

Flow computer devices are of two major types: field-mounted devices and panel-mounted devices. Field-mounted devices are mounted or installed onsite, whereas the panel-mounted flow computers are installed at a workstation or centralized station from where the flow monitoring and controlling are done. The field-mounted flow computers are installed on the site, such as wellheads, production sites, pipeline mounted, and sometimes at remote places. Therefore, field-mounted flow computers are required to be sturdy and resistant to hazardous climate conditions.

Application Insights:

Flow computers in the oil and gas industry are used for specific applications that vary based on their role in the value chain:

• Custody Transfer: One of the most critical applications for flow computers, custody transfer involves the accurate measurement of oil and gas during commercial transactions. Flow computers ensure compliance with international measurement standards, minimize disputes, and support accurate billing.
• Pipeline Monitoring: Flow computers monitor the flow of oil and gas in pipelines, helping to ensure efficiency, detect leaks, and maintain safety standards. They provide real-time data on pressure, flow rates, and volume to optimize transportation.
• Wellhead Monitoring: In upstream operations, flow computers are used to monitor well production and optimize the extraction process. They provide critical data for decision-making regarding production rates and reservoir management.
• Refining and Distribution: In downstream operations, flow computers monitor the flow of refined products during the refining process and ensure precise measurements in fuel distribution networks.

Regional Insights

North America to grow at the highest CAGR during the forecast period

North America has the largest number of oil & gas rigs with top flow computer manufacturers and providers such as Emerson Electric Co. (US), Honeywell (US), Thermo Fisher Scientific (US), and OMNI Flow Computers (US).

Furthermore, Oil & gas companies in US are investing a fair amount in automating their processes and converting components to digital. The integration of IIoT and SCADA systems is increasing the scope of flow computers for oil & gas. Similarly, Canada is the fifth-largest producer of natural gas and the sixth-largest producer of crude oil worldwide.

Its expanding production enables the adoption of flow computers in oil and natural gas plants. The oil & gas reserves in the Mexican Gulf are expected to be high in resources; therefore, many companies worldwide are investing heavily in this region

Flow Computer Market by Region

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By End-user:

The flow computer market size is segmented by the type of end-user organizations in the oil and gas industry:

• National Oil Companies (NOCs): These are state-owned companies that dominate the oil and gas industry in regions like the Middle East, Africa, and parts of Asia. Flow computers are integral to their large-scale operations.
• International Oil Companies (IOCs): Global energy companies like ExxonMobil, BP, Shell, and Chevron that operate across multiple countries. These companies are key consumers of flow computers, as they focus on maximizing production efficiency, safety, and regulatory compliance.
• Independent Oil & Gas Companies: Smaller firms engaged in upstream exploration and production activities, especially in regions like North America. These companies tend to adopt advanced flow computer solutions to improve operational efficiency and cost-effectiveness.

Top Flow Computer Companies - Key Market Players:

The Flow Computer Companies is dominated by players such as :

• Emerson Electric Co. (US),
• Honeywell International, Inc. (US),
• ABB (Switzerland),
• Thermo Fisher Scientific Inc. (US),
• Schneider Electric (France),
• Krohne Messtechnik GmbH (Germany),
• Yokogawa Electric Corporation (Japan),
• TechnipFMC plc (US),
• OMNI Flow Computers, Inc. (US),
• Dynamic Flow Computers, Inc. (US),
• Contrec Limited (UK),
• Kessler-Ellis Products (KEP) Co, Inc. (US),
• Sensia (US),
• Prosoft Technology, Inc.(US),
• Flowmetric, Inc.(US)

Flow Computer Market Report Scope:

Flow Computer Market Highlights

This research report categorizes the flow computer market in oil & gas by component, operation, and region.

Recent Developments in Flow Computer Market

• Schneider Electric’s Realflo 7.0 Flow Computer Software, which focuses on enhancing the functionality of flow computers used in the oil and gas industry, particularly for measurement accuracy and digital integration.
• In January 2023, Emerson Electric Co. launched a new generation of single and dual meter run gas flow computers. They are field-mounted and explosion-proof flow computers, which offer a more practical option for remote oil & gas production sites.
• In June 2022, ABB and Wison Offshore & Marine Limited (WOM), a technology and solution provider focusing on clean energy, collaborated to develop and implement floating liquefied natural gas (FLNG) facilities worldwide. This would enable the delivery of standardized electrification and safety system to improve production efficiency.
• In September 2021, Thermo Fisher Scientific Inc. introduced the Thermo Scientific AutoFLEX EFM, the newest addition to the Auto SERIES flow computer portfolio, utilized to measure flow and process control in the oil and gas industry

Frequently Asked Questions (FAQ):

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