Flow meter market factor

Flow meter gauge factors

Driving factors according to the prediction of the International Energy Agency (IEA), from 2007 to 2030, the world needs to invest $26.0 trillion in energy infrastructure (in 2007 dollars). Among them, the investment in the power industry is US $13.6 trillion, accounting for 52.3% of the total investment. By 2030, the infrastructure of oil, gas and electricity in many parts of the world will need to be replaced. In the long run, predictable energy investment will bring great development space to the application of flowmeter in oil, gas and energy industry.

Facing the fierce competitive environment and in order to meet the demands of global energy conservation and emission reduction, users in various industries pay more attention to the operation efficiency of production plants and reduce energy consumption as much as possible to improve competitiveness. Therefore, a large amount of investment is used to improve the automation level of the factory and the collection and real-time monitoring of field data, so as to improve the process control efficiency of the factory. For example, in the oil, gas and energy industries, reliable fluid measurement equipment is needed in closed transmission facilities; Chemical and pharmaceutical industries need high-precision flow meters, and various trends will drive the development of sensors and field equipment (including flow meters).

More electronic technologies are being introduced into the flowmeter, such as digital signal processing (DSP) and microprocessor, which makes the flowmeter have self diagnosis function and can better communicate with the production control level. The improvement of performance better meets the needs of industry users and creates more market application space for flowmeter.

Restraining factors the current global economic situation needs to be further boosted, and the demand for industrial products is not strong. Many industry users slow down investment in new projects or suspend equipment upgrading, waiting for signs of recovery in the global economy. Therefore, in the short term, this will have a certain impact on the development prospect of flowmeter in its main application industry.

There are many manufacturers in the global flowmeter market, and the competition is extremely fierce. At the same time, flowmeter manufacturers are facing more stringent price requirements from industry users. In order to make products better penetrate into the main industries of flowmeter application, price competition among manufacturers is no longer inevitable. This phenomenon is common in emerging economies, especially China. Price is often the main determinant of purchasing behavior. In the long run, manufacturers pay more attention to price strategy, resulting in insufficient product innovation and hindering market development.