Natural gas boosts Coriolis flowmeter market
An
ARC Advisory Group product story
Edited by the Engineeringtalk editorial team
Dec 10, 2004
The worldwide market for Coriolis flowmeters is expected to grow at a CAGR of 8.9% over the next five years, according to a new study.
The aggressive growth rate expected for Coriolis flowmeters can be attributed to the versatility of the technology.
The worldwide market for Coriolis flowmeters is expected to grow at a CAGR of 8.9% over the next five years.
The market was $404 million in 2003 and is forecasted to be over $617 million in 2008, according to a new ARC Advisory Group study.
Coriolis flowmeters can be used to measure liquids, slurries, and gases.
"Supplier efforts to make Coriolis technology more stable and user-friendly are very apparent in the current generation of flowmeters".
"The installation constraints of earlier generations of meters no longer apply", according to Paula Hollywood, Field Systems Analyst, and principal author of ARC's "Coriolis flowmeter worldwide outlook".
Measurement of natural gas is emerging as a significant growth opportunity for Coriolis flowmeters.
Recognition by the American Gas Association (A) of Coriolis meters for natural gas applications including production, processing, transmission, storage, distribution, and end-use fuel measurement opens a new market for the technology.
Compressed natural gas (CNG) is being used increasingly as an alternative fuel in transportation due to its low pollution levels.
Metering must be performed at every point in the delivery system from CNG compressor stations to dispensers at retail outlets.
Due to its ability to measure mass flow directly, Coriolis meters have a distinct advantage over other flow metering technologies for CNG applications.
The advantages of Coriolis flowmeters such as no moving parts, minimal maintenance requirements, and direct mass measurement translates into low total cost of ownership (TOC) for users.
Mass measurement with Coriolis is impervious to changes in pressure, temperature, viscosity, and density, making it advantageous in many applications.
Suppliers are leveraging the inherent advantages of the technology to develop meters for niche applications.
With such a large concentration of chemical, petrochemical, and oil and gas refining industries in the EMEA region, it remains the largest market for Coriolis flowmeters.
It is followed closely by North America.
However, the Asian market is poised to rapidly grow the most.
The growing Chinese economy represents the best opportunity for growth in Asia as the country continues to develop its industrial base.
India also presents significant potential as it now has the financial resources to develop its own industrial base.
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