Flow meters continue transition to new high-technology meters

The global market for flow meters is expected to reach US$5.1 billion by the year 2017, with the transition to high-technology meters fuelling the drive.

New flow meters are increasingly being deployed as manufacturing majors look to expand and renovate current plants. There are also new markets opening in places such as Asia Pacific, where many manufacturers are looking to increase capacity on developments by using the latest technological developments.

In this way, the transition from the traditional to new high-technology meters is what will primarily drive the industry into the future, with an impetus for precision and reliability offering a pot of gold for innovative manufacturers.

This has been highlighted in the success of ultrasonic and coriolis flow meters, which have become increasingly popular among end-users. The magnetic flow meter has been similarly successful, widely recognised for its capacity in non-intrusive measurement.

These types of flow meters have been found as an ideal replacement for traditional types such as turbine, differential pressure and positive displacement. This is because investors have become increasingly concerned with accuracy and reliability as the industry becomes more rigorous with regulation and stringent performance data.

With a string of postponed and deferred orders stretching back to the recession, the flow meter market is now picking up. Manufacturers are also starting to invest in upgrade projects as they get a boost of confidence from the economy.

At the forefront of the market are ultrasonic flow meters which represent the fastest growing product segment with a CAGR of about 8.29 per cent over the analysis period, according to new report by Global Industry Analysts. This technology has been driven by the hydrocarbon industry, as well as increased use in the oil and gas industry.

The magnetic flow meters market remains the largest product segment. However, there is a strong reliance on the level of municipal funding and government stimulus packages provided to water and wastewater treatment projects.

Posted by Claire Manning