Turbine Flow Meters for Subsea Applications Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2015 - 2023
- Transparency Market Research
To operate an oil and gas facility efficiently reliable measurement and control appliances must be utilized during the operations. Turbine flow meters are designed to measure volumetric flow by responding to the viscosity of the respective fluid to be measured. Apart from viscosity, density and velocity of the fluid are the other major parameters which influence the measurement of the turbine flowmeters. These flow meters have been an effective flow measurement technology for the subsea industry. Turbine flow meters have several features which make them an excellent choice for subsea applications. The flow sensing element utilized in these flow meters are lightweight and compact compared to other metering technologies. As a result, these devices are usually preferred in subsea applications. Turbine flow meters are suitable for use on all low to medium viscosity fluids. These flowmeters are specifically designed for subsea operations at various depth levels. The market for turbine flow meters in subsea applications is expected to grow at a substantial rate owing to fast speed and high accuracy response of these devices.
The requirement of economic and accurate measurement equipments in the subsea industry is the major driver attracting investment in turbine flow meters market. The turbine flow meters are a proven technology which is much more economical as compared to other measurement techniques. The new cost pressures have led subsea oil and gas companies to adopt cost effective techniques in hydrocarbon facilities. As a result of this the market for turbine flow meters is predicted to grow along with the growing investment in subsea production technologies. Many companies offer customized turbine flowmeters to meet the extreme regulations associated with subsea applications. However, with the advancement in technology many new methods such as differential pressure based flow meters are developed which may hamper the growth of the market in future.
The market for turbine flow meters in subsea applications can be segmented on the basis of flow range of subsea turbine flow meters. The manufacturing companies offer a range of subsea turbine flow meters which are selected based on the requirement of the operator and the characteristics of the fluid. On the basis of flow range the market can be categorized as 1.2-50 l/min, 50-250 l/min, 250-1100 l/min and 1100-2250 l/min. The length and operating pressure of the turbine flow meters may also vary depending upon the range of flow meters.
The increasing offshore production activities in Brazil and Africa region will provide the major market for turbine flow meters in subsea applications in the coming future. Planned expansion projects and the large offshore reserves of West Africa is one of the prospective regions for the growth of for turbine flow meters in subsea applications. The strict guidelines issued by government agencies in European nations will further attract investment in this market. The shallow water exploration projects planned in Europe are predicted to be the potential segment for the growth of the turbine flow meters market. The exploration companies in Asia Pacific are also increasing investment in FPSO and FLNG systems which would provide growth opportunities for turbine flow meters in subsea applications.
Some of the major companies offering turbine flow meters for subsea applications are Flowtechnik Ltd, Environmental Technologies Ltd., AW-Lake Company, Hoffer Flow Controls, Inc., Omni Instruments Ltd. and ABB Ltd.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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- Current market trends
- Market structure
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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