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Research, Inc.
27 Water Street (781) 245-3200
Wakefield, MA 01880 (781) 224-7552 (fax)
Contact:
Norm Weeks, Flow Research: (781) 245-3200 norm@flowresearch.com
For immediate
release
New Flow Research
Study Finds One Billion Dollar DP Flowmeter Market
Wakefield,
Massachusetts, April 12, 2007
A new research study finds that the world market for differential
pressure (DP) flowmeters is much larger than anticipated.
The new study from Flow Research (www.flowresearch.com)
is called The World Market for Differential Pressure (DP) Flowmeters
and Primary Elements. The
worldwide DP flowmeter market totaled $996 million in 2006, and will
exceed one billion dollars in 2007. The
market has previously been undervalued because only the value of DP
transmitters has been counted toward the value of the DP flowmeter market. This new study includes the value of both DP transmitters and
primary elements in the total market size.
DP flowmeters use both a DP transmitter and a primary element in making a flow measurement. The primary element places a restriction in the flowstream, and the DP flow transmitter measures the difference between the upstream and downstream pressures. Examples of primary elements include orifice plates, Venturi tubes, Pitot tubes, and flow nozzles. While some companies offer both DP transmitters and primary elements, a large group of companies mainly offer primary elements. Many customers buy their primary elements and DP flow transmitters from different suppliers.
DP
flowmeters are widely used in the oil, gas, and refining industries.
These industries have been on the upswing in the past year, due to
the increased price of crude oil and the search for new energy sources.
Hence, worldwide DP flowmeter revenues are projected to increase at
a compound annual growth rate (CAGR) of 6.5 percent through 2011, when
they are expected to approach $1.4 billion.
According
to Dr. Jesse Yoder, president of Flow Research, the future looks bright
for DP flowmeters. DP
flowmeters have the largest installed base of any flowmeter type.
Both DP flow transmitter and primary element manufacturers are
making product improvements and new product introductions.
As a result, customers can enhance their technology without
switching to a different flowmeter type. We see solid growth ahead for this market.
Flow
Research, Inc.
Flow Research (www.flowresearch.com) specializes in market data and strategies on flow, pressure, and temperature products. In addition to the 480-page study on DP flowmeters and primary elements (www.DPmeter.com), current study topics include steam flow measurement and pressure transmitters. The Worldflow Monitoring Service provides quarterly updates on the flowmeter and energy industries (www.worldflow.com). Additional charts are available on request.
Figure 1
Total Shipments of DP Flowmeters Worldwide
(Millions
of Dollars)
Compound
Annual Growth Rate (CAGR) = 6.5%