Market Factor of Flowmeter

- Apr 13, 2019-

The driving factor is projected by the International Energy Agency (IEA) that a cumulative investment of $2.6 billion (in 2007 dollars) in energy infrastructure will be needed globally from 2007 to 2030. Among them, 13.6 trillion US dollars were invested in the power industry, accounting for 52.3% of the total investment. By 2030, oil, gas and electricity infrastructure will need to be replaced in many parts of the world. In the long run, predictable energy investment will bring considerable development space for the application of flowmeters in oil, gas and energy sectors.

Faced with the fierce competition environment, and in order to meet the demand of global energy conservation and emission reduction, users in various industries pay more attention to the operation efficiency of production plants, reduce energy consumption as much as possible, in order to improve competitiveness. Therefore, a large amount of investment is used to improve the automation level of factories and the collection and real-time monitoring of field data, in order to improve the process control efficiency of factories. For example, in the petroleum, natural gas and energy industries, reliable fluid measurement equipment is needed in closed transmission facilities, and high-precision flowmeters are needed in chemical and pharmaceutical industries. Various trends will certainly drive the development of sensors and field equipment (including flowmeters).