WAKEFIELD, Mass. — A series of studies from Flow Research finds that the fast-growing worldwide market for gas flowmeters totaled $1.3 billion in 2010, according to a press release.
Of that, shipments of new-technology gas flowmeters totaled $498 million and are projected to increase with a CAGR of 10.1 percent through 2015.
Traditional technology gas flowmeters totaled $792 million, with a projected CAGR of 3.3 percent.
Although differential pressure flowmeters are the most prevalent technology, the ultrasonic flowmeter market is the fastest-growing, with thermal mass flowmeters close behind.
"The gas flow market is larger than we anticipated, and appears to be growing faster than either the liquid or steam flow markets,” said Jesse Yoder, Flow research president. “Certain regions are experiencing economic growth so remarkable that the production of dry natural gas continued to rise even during the recession. Natural gas is a longterm bridge to renewables, and is becoming a cleaner alternative to oil in many countries. North America, the Mideast and Russia are hotbeds of natural gas. This is great news for control and instrumentation manufacturers."