Market Trends of Flow Computer Oil Gas Industry
This section covers the major market trends shaping the Flow Computer Oil Gas Market according to our research experts:
Evolving Data Computational Capacity of Flow Computers
- The development of single, rugged platform equipped with consolidated measurement and controls, edge computing, advanced connectivity and intrinsic cyber security by many players for the oil and gas industry has led to the expansion of flow computer processing capabilities.
- Many players like Quorum are already offering integrated solutions for core processing demands across the upstream, midstream and downstream segments of the value chain. Quorum offers its software platform to more than 75% of the top oil and gas producers in the United States.
- Further product improvements in new and traditional technology flowmeters are also contributing to the data capturing ability of such systems. Vortex and turbine suppliers have now started offering flowmeters with two sensors and simultaneously calibrated dual flowmeter. FCI expanded its Adaptive Sensor Technology (AST) to offer ST80 Series Thermal Mass Flow Meter that has enhanced the rangeability, accuracy, extended service life, and reliability for process industry air/gas flow measurement.
- The introduction of these sensors have led to the possibility to create new internal and external applications for flow computeres. For instance, predictive maintenance along with virtual- and augmented-reality capabilities has the potential to enable remote maintenance and technical support thereby reducing flow measurement costs in day to day operations.
- The launch of these sensors has led to the possibility of creating new external and internal applications for flow computers. For instance, predictive maintenance and virtual- and augmented-reality capabilities can enable remote maintenance and technical support, thereby, reducing flow measurement costs in day-to-day operations.
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North America to Hold the Largest Market Share
- North America is one of the significant producers of oil and gas across the globe. According to U.S. Energy Information Administration (EIA), in 2020, the United States produced 18.40 million barrels per day (MMb/d) of petroleum and consumed about 18.12 MMb/d. In addition, the country exported 8.51 MMb/d and imported about 7.86 MMb/d of petroleum.
- The government’s support is also triggering the growth in the flow measurement devices in the oil and gas industry, which plays a significant role in driving the market for flow computers. For instance, the Bureau of Safety and Environment Enforcement (BSEE) direct final rule came into effect at the end of February 2021.
- Also, according to the United States Department of Transportation, there are more than 2.6 million miles of pipeline that delivers million cubic feet of natural gas and hundreds of billions of tons of petroleum every year.
- Such a vast network of pipelines requires gas metering stations raising the demand for flow metering solutions such as ultrasonic, orifice, and other flow meters.
- The new flow computers launched in the region are conducive to the typical SCADA processes. For instance, the FB1000 and FB2000 flow computers for oil and gas offered by Emerson Electric can be integrated with SCADA and other field devices to accelerate deployment and minimize the time in the field.
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