Flow Computer in Oil & Gas Market Size Worth $1092.32 Million By 2032 | CAGR: 6.1%

The global flow computer in oil & gas market size is expected to reach USD 1,092.32 million by 2032, according to a new study by Polaris Market Research. The report “Flow Computer in Oil & Gas Market Share, Size, Trends, Industry Analysis Report, By Product (Hardware, Software, Support Services); By Operation; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increase in the demand for crude oil has been a key driver of the growth of the market. The need for accurate and reliable flow measurement systems to monitor the flow of crude oil through pipelines has led to the development of more advanced and sophisticated measurement technologies. As the demand for crude oil continues to grow, the flow computer market is expected to continue to expand and develop new technologies to meet the evolving needs of the industry.

Governments and private companies are investing heavily in the oil and gas industry to meet the rising demand for energy. This includes investments in the construction of new pipelines, refineries, and other oil and gas infrastructure, which require advanced flow measurement and monitoring technologies. By 2023, India is expected to receive USD 58 million in investments for oil and gas exploration, with interest from major international energy corporations including Chevron, ExxonMobil, & Total Energies.

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Global demand for oil and gas products is continuously increasing due to population growth, urbanization, and industrialization. This is driving the need for efficient and safe transportation of oil and gas products, which requires accurate measurement and monitoring of fluid flow rates, volumes, and pressure. According to the International Energy Agency's Global Energy Outlook 2019, China's oil demand is expected to rise from 593 Mn Tonnes of Oil Equivalent (MTOE) in 2018 to 672 MTOE, in 2025, while India's oil demand is expected to rise from 233 MTOE in 2018 to 305 MTOE, in 2025.

Flow Computer in Oil & Gas Market Report Highlights

• Hardware segment is anticipated to grow at a faster rate due to increasing demand for accurate and reliable flow measurement, monitoring, and control systems.
• Upstream segment accounted for the largest market share owing to the increasing demand for oil and gas and regulatory requirements.
• Pipeline flow monitoring is projected to experience significant growth rate due to the advancements in flow computer technology and need for efficient pipeline operations.
• APAC registered with higher growth rate in the study period owing to the growing investments in the oil and gas industry.
• North America is projected to witness larger revenue share in the forecast time frame due to the technologically advanced and well-established oil and gas industry.
• The global players include Contrec Limited, Kessler-Ellis Products, Sensia, Prosoft Technology, Flowmetric, Badger Meter, Quorum Business Solution, Endress+Hauser, PLUM, Fluidwell, Oval Corporation, Seneca & Hoffer Flow Controls.

Polaris Market Research has segmented the candle market report based on offering, operation, application, and region:

Flow Computer in Oil & Gas, Offering Outlook (Revenue - USD Million, 2019 - 2032)

• Hardware
• Software
• Supportive Services

Flow Computer in Oil & Gas, Operation Outlook (Revenue - USD Million, 2019 - 2032)

• Upstream
• Midstream
• Downstream

Flow Computer in Oil & Gas, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Custody Transfer
• Pipeline Flow Monitoring
• Wellhead Monitoring

Flow Computer in Oil & Gas, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Flow Computer in Oil & Gas Market Report Scope