Turbine flowmeter revenues to increase, study shows
WAKEFIELD, Mass. — Despite competition from ultrasonic, Coriolis and other new-technology flowmeters, turbine flowmeters remain a viable and popular choice for a variety of applications, according to a new study from Flow Research, Inc.
The study, titled “The World Market for Turbine Flowmeters, 2nd Edition,” found that turbine flowmeter revenues totaled $414.0 million in 2011 and are forecast to increase at a compound annual growth rate (CAGR) of 0.6 percent per year through 2016 to reach $427.5 million worldwide.
In addition, turbine sales are being helped by new applications in oil and gas, cryogenics, ultra pure water processing and other segments.
“Many people believe that the turbine meter market has been declining, but in fact it has been holding its own over the past 10 years,” said Dr. Jesse Yoder, president of Flow Research. “The bigger picture is that new-technology flowmeter markets are growing at a faster rate while the turbine meter market remains fairly constant. Thus, even though the market itself is not declining, it is losing market share to faster growing markets such as Coriolis and ultrasonic. On the other hand, the large installed base of turbine meters will continue to give them staying power for the foreseeable future, especially in oil and gas. One reason the turbine market is not actually declining is that some turbine suppliers have been implementing new technologies and bringing out new products that will enable them to maintain their market share over time for certain applications.”
For more information on the study and the turbine flowmeter market, go to www.flowturbine.com.