Oil and gas flow computer market experiences growth

The need for accurate measurement of crude and other expensive petroleum products has contributed to the development of flow computers around the globe. The computers use flow, pressure, and temperature signals for density compensation calculation of liquid and gas. Flow computers have been under development since the 1970s; companies are consistently developing these devices to improve the computational capacities of the flow computer. There are many companies present in the market with advanced flow computing solutions in their portfolios.

According to a new MarketsandMarkets report, ‘Flow Computer Market in Oil and Gas - Global Forecast to 2020’, the market was valued at US$727.7 million in 2014, and it is estimated to reach US$1.04 billion by 2020, at a CAGR of 5.5% between 2015 and 2020. The report provides a detailed analysis of market dynamics such as drivers, restraints, challenges, and opportunities.

The report identifies the main companies involved in the development of flow computers as: Krohne Messtechnik GmbH (Germany), Thermo Fisher Scientific Inc. (US), Kessler-Ellis Products Co., Inc. (US), FMC Technologies, Inc. (US), Emerson Electric Co. (US), Yokogawa Electric Corporation (Japan), OMNI Flow Computers, Inc. (US), Dynamic Flow Computers Inc. (US), Schneider Electric SA (France), ABB Group (Switzerland), Cameron International Corporation (US), Honeywell International, Inc. (US), and Contrec Europe Limited (UK), among others.

Adapted from press release by Rosalie Starling

Read the article online at: https://www.hydrocarbonengineering.com/refining/27012016/oil-and-gas-flow-computer-market-witnesses-growth-2276/