Turbine flowmeters are still showing growth even though they are not keeping pace with the rapid growth in the new-technology markets, according to a new study by Flow Research.
The World Market for Turbine Flowmeters, 3rd Edition found that the worldwide turbine market totaled $420 million (€394 million) in 2019 and forecasts a compound annual growth rate (CAGR) of just over one percent through 2024. New-technology meters are growing substantially faster, with a CAGR of up to 4.8%.
The turbine meter is expected to continue to grow due to a large installed base, the meter’s ability to measure both liquid and gas flow, industry approvals for custody transfer, and technology improvements.
Even though turbine flowmeters are losing ground to some new-technology flowmeters, especially Coriolis, ultrasonic, and magnetic flowmeters, they still remain an excellent choice for clean, steady, medium to high-speed flows of low-viscosity fluids.
Turbine meters are widely used in custody transfer and non-custody transfer applications of natural gas in upstream and downstream production environments, often measuring gas flow on large gas pipelines that carry natural gas from its source to its destination – in some cases for thousands of miles.
Turbine meters are also used as billing meters to measure the amount of gas used at commercial buildings and industrial plants. Turbine meters for liquids measure water use in commercial businesses and industrial plants, as well as in hotels, office buildings, and apartment complexes.
Besides water and oil, turbine meters also measure process liquids, including pharmaceutical chemicals, paints and varnishes, industrial chemicals, dairy products, printing ink, cosmetics, and many other liquids. In many cases, turbine meters provide a highly accurate measurement but are less expensive than other meters such as Coriolis or magnetic. Turbine meters are used for higher flowrate measurements of process liquids than positive displacement (PD) meters, which are often used for to measure flow at lower flowrates.
Axial flowmeters, widely used for custody transfer of natural gas, are the fastest growing type of turbine flowmeter. Helical turbine meters, which have recently found a niche in the petroleum industry for high-viscosity fluids like oil, are benefitting from the upsurge in the oil industry. In general, insertion turbine meters of various types, often used in large line sizes for custody transfer, have been growing slightly faster than inline turbine meters.
Dr Jesse Yoder, president of Flow Research, said: “The turbine flowmeter market has seen a lot of technology improvements in the past 10 years. Suppliers are making turbine flowmeters more reliable by improving their materials of construction, introducing self-diagnostics, and adding more communication protocols.”
The World Market for Turbine Flowmeters, 3rd Edition includes market size and forecasts, detailed segmentation, a technology analysis, market shares of major suppliers, average selling prices, supplier profiles, product analyses, discussions of market circumstances and growth factors, and strategies for success for companies competing in this market.
New Flow Research finds turbine flowmeter market showing growth
