Flow Computer Market in Oil & Gas by Offering (Hardware, Software, Support Services), by Operation (Upstream, Midstream and Downstream), Application (Custody Transfer, Pipeline Flow Monitoring, Wellhead Monitoring) and Region - Global Forecast to 2028
[183 Pages Report] The Flow Computer Market in oil & gas is projected to grow from USD 798 million in 2023 to USD 1,067 million in 2028; it is expected to grow at a CAGR of 6.0% from 2023 to 2028.
The market growth is driven by factors including the technological advancements in oil & gas industry and suitability in many functions of the oil & gas industry and increasing adoption of process automation providing opportunities for flow computer industry in oil & gas. However, interoperability of multiple components from different solution providers are challenging the market growth
Flow Computer Market Forecast to 2028
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Market Dynamics
DRIVERS: Technological advancements in oil & gas industry
Digital transformation and automation are emerging trends in the oil & gas industry, which is experiencing rapid digitalization with smarter operations, thus giving rise to the digital economy. Digital transformation or automation enables deployment of a minimum workforce in remote onshore & offshore exploration sites. The demand for operational digital oilfield solutions is increasing due to limited oil or fuel supply to the growing number of vehicles in the market, which compels the oil industry to adopt new and improved technologies. The implementation of systems such as DCS, PLC, smart well, and SCADA in the upstream segment helps automate the control process and offers real-time data.
RESTRAINT: High cost of flow computer and regular maintenance
Flow computers are known for providing accurate and reliable flow measurements in the oil & gas industry. They require specialized components and manufacturing processes to achieve a high level of accuracy and reliable flow measurement. New-age components provide add-on features and functionality, such as the measurement of multiple fluid parameters simultaneously and diagnostic and calibration features, which give advantages over other flow measurement devices. These add-on features and functionality increase the cost of the device and maintenance costs. If the add-on features may not be justifiable for pipeline operators and cannot return on investments in terms of improved efficiency, accuracy, and reduced operating cost, then flow computer becomes a non-viable option for the operators. Hence, high product and maintenance costs become restraints for operators looking to minimize their cost of ownership.
OPPORTUNITIES: Growing demand for offshore/ultra-deep discoveries.
The oil & gas industry is going through a phase of technological advancements in exploration technology for deepwater exploration and production activities and the commercial viability of the projects. Current advances allow oil companies to improve recovery and accelerate production.
Offshore wells may have a different level of automation, ranging from simple one-way monitoring to complex subsurface controls with intelligent completions. Petrobras (Brazil) has created a corporate program dedicated to studying, developing, and implementing digital integrated field management (GeDIg) among its production assets. Petrobras selected the Carapeba field as a pilot project. It is a mature field composed of three wells located in the northeastern part of the Campos Basin, which has installed automated subsurface sensors in the wells.
CHALLENGES: Interoperability of multiple components from different solution providers.
Companies in the upstream segment often buy and assemble components from different vendors depending on customer requirements. This makes the market highly consumer-dominated, so no standard or generalized product can be developed by a single player. In that case, interoperability with other systems and components is a challenge for upstream operators. Adding any alternative system, hardware, or software that is not compatible with some of the digital oilfield systems, such as the flow computer, becomes a constraint as it has to integrate with the existing system for optimum results seamlessly. Developments for integrating various services with each other are expected to overcome this challenge faced by oilfield operators.
Flow Computer Market in Oil & Gas Ecosystem
Prominent companies in this market include well-established, financially stable manufacturers and providers of flow computers. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Emerson Electric Co. (US), Honeywell International, Inc. (US), ABB (Switzerland), Thermo Fisher Scientific Inc. (US), and Schneider Electric (France).
Midstream & Downstream segment is expected to register higher market share during the forecast period
The crude oil and natural gas are distributed through midstream pipelines and tankers. Since these pipelines carry important and pricey materials, they require continuous monitoring. The flow computers perform metering, meter proving, ticketing, valve control, batching, and product interfacing. In the midstream application, positive displacement, ultrasonic, Coriolis, and turbine flow meters are majorly used and connected to flow computers. These flow computers can also be utilized in leak detection and pipeline control. Similarly, in downstream, flow computers are used for the distribution of oil & gas from one source to multiple sources. They are also used for flow indication and control. Apart from billing, the flow computers are also used for flow measurement at ship, rail, and road loading. As a result, the market size of flow computers in midstream and downstream operations is larger than upstream operations.
Hardware segment is expected to register higher market share during the forecast period
In the hardware component, the market for flow computer devices is considered. The flow computers are used in upstream, midstream, and downstream oil and gas operations. These flow computer devices perform significant tasks of accurate flow calculations and therefore are employed at multiple operation points. Flow computer devices are of two major types: field-mounted devices and panel-mounted devices. Field-mounted devices are mounted or installed onsite, whereas the panel-mounted flow computers are installed at a workstation or centralized station from where the flow monitoring and controlling are done. The field-mounted flow computers are installed on the site, such as wellheads, production sites, pipeline mounted, and sometimes at remote places. Therefore, field-mounted flow computers are required to be sturdy and resistant to hazardous climate conditions.
North America to grow at the highest CAGR during the forecast period
North America has the largest number of oil & gas rigs with top flow computer manufacturers and providers such as Emerson Electric Co. (US), Honeywell (US), Thermo Fisher Scientific (US), and OMNI Flow Computers (US). Furthermore, Oil & gas companies in US are investing a fair amount in automating their processes and converting components to digital. The integration of IIoT and SCADA systems is increasing the scope of flow computers for oil & gas. Similarly, Canada is the fifth-largest producer of natural gas and the sixth-largest producer of crude oil worldwide. Its expanding production enables the adoption of flow computers in oil and natural gas plants. The oil & gas reserves in the Mexican Gulf are expected to be high in resources; therefore, many companies worldwide are investing heavily in this region
Flow Computer Market by Region
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Key Market Players
The Flow Computer Companies is dominated by players such as Emerson Electric Co. (US), Honeywell International, Inc. (US), ABB (Switzerland), Thermo Fisher Scientific Inc. (US), Schneider Electric (France), Krohne Messtechnik GmbH (Germany), Yokogawa Electric Corporation (Japan), TechnipFMC plc (US), OMNI Flow Computers, Inc. (US), Dynamic Flow Computers, Inc. (US), Contrec Limited (UK), Kessler-Ellis Products (KEP) Co, Inc. (US), Sensia (US), Prosoft Technology, Inc.(US), Flowmetric, Inc.(US), Spirax Sarco Limited (UK), SICK AG (Germany), Badger Meter, Inc.(US), Quorum Business Solution, Inc.(US), Endress+Hauser AG (Switzerland), PLUM Sp. Zo. O (Poland), Fluidwell BV (Netherlands), Oval Corporation (Japan), Seneca srl (Italy), and Hoffer Flow Controls, Inc. (US).
Flow Computer Market Report Scope:
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Report Metric |
Details |
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Market Size Available for Years |
2019–2028 |
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Base Year |
2022 |
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Forecast Period |
2023–2028 |
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Units |
Value (USD Billion/Million) |
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Segments Covered |
Component, Operation |
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Geographic Regions Covered |
North America, Europe, Asia Pacific and RoW |
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Companies Covered |
Major Players: Emerson Electric Co. (US), Honeywell International, Inc. (US), ABB (Switzerland), Thermo Fisher Scientific Inc. (US), Schneider Electric (France), Krohne Messtechnik GmbH (Germany), Yokogawa Electric Corporation (Japan), TechnipFMC plc (US), OMNI Flow Computers, Inc. (US), Dynamic Flow Computers, Inc. (US), Contrec Limited (UK), Kessler-Ellis Products (KEP) Co, Inc. (US), Sensia (US) and Others- total 25 players have been covered |
Flow Computer Market Highlights
This research report categorizes the flow computer market in oil & gas by component, operation, and region.
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Segment |
Subsegment |
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By Component: |
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By Operation: |
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By Region: |
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Recent Developments
- In January 2023, Emerson Electric Co. launched a new generation of single and dual meter run gas flow computers. They are field-mounted and explosion-proof flow computers, which offer a more practical option for remote oil & gas production sites.
- In June 2022, ABB and Wison Offshore & Marine Limited (WOM), a technology and solution provider focusing on clean energy, collaborated to develop and implement floating liquefied natural gas (FLNG) facilities worldwide. This would enable the delivery of standardized electrification and safety system to improve production efficiency.
- In September 2021, Thermo Fisher Scientific Inc. introduced the Thermo Scientific AutoFLEX EFM, the newest addition to the Auto SERIES flow computer portfolio, utilized to measure flow and process control in the oil and gas industry.
Frequently Asked Questions (FAQ):
What is the total CAGR expected to be recorded for the flow computer market in oil & gas during 2023-2028?
The global flow computer market in oil & gas is expected to record a CAGR of 6.0% from 2023–2028.
What are the driving factors for the flow computer market in oil & gas?
Technological advancements in oil & gas industry and suitability in many functions of the oil and gas industry.
Which operational area in oil & gas is likely to create high growth opportunities for flow computer?
Upstream operations are expected to create considerable growth opportunities for the flow computer market.
What are the applications of flow computer that drives the adoption of flow computer in oil & gas?
Some common applications of flow computers in oil and gas include custody transfer, pipeline flow monitoring, and wellhead monitoring. Custody transfer is the transfer of ownership of crude oil, natural gas, or other fluids from one party to another. Flow computers are used to measure the volume and flow rate during the transfer to ensure accurate and fair transactions. Flow computers are used to monitor the flow rate and pressure of oil and gas through pipelines to ensure safe and efficient operations. They can detect changes in viscosity, temperature, and density of the fluids being transported. Flow computers monitor the flow rate and pressure of oil & gas from individual wells to optimize production and ensure safe operations.
Which region will lead the flow computer market in oil & gas in the future?
North America is expected to lead the flow computer market in oil & gas during the forecast period.
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The study involved four major activities in estimating the size of the flow computer market in oil & gas. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various sources were referred to for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements, press releases); trade, business, and professional associations; white papers, flow computer-related journals, and certified publications; articles by recognized authors; gold and silver standard websites; and directories.
Secondary research was mainly conducted to obtain key information about the market value chain, the industry supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments from both markets- and technology-oriented perspectives. Data from secondary research was collected and analyzed to arrive at the overall market size, which was further validated by primary research.
Primary Research
Extensive primary research has been conducted after understanding and analyzing the flow computer market through secondary research. Several primary telephonic interviews have been conducted with key opinion leaders from the demand- and supply-side vendors across four major regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW). Moreover, questionnaires and emails were also used to collect the data.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In this report, for the complete market engineering process, both top-down and bottom-up approaches were used, along with several data triangulation methods, to estimate, forecast, and validate the size of the market and its segments and subsegments listed in the report. Extensive qualitative and quantitative analyses were carried out to list the key information/insights pertaining to the flow computer market in oil & gas.
Major players in the flow computer market in oil & gas have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. The entire research methodology included the study of annual and financial reports of top players and interviews with experts (such as CEOs, VPs, directors, and marketing executives) for key insights (quantitative and qualitative). All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. This data was consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Flow Computer Market in Oil & Gas: Bottom-Up Approach
- Identifying various applications in upstream, midstream, and downstream operations using or expected to adopt flow computers in the oil & gas industry
- Analyzing each operation, along with major related companies and their system integrators, and identifying service providers for implementing flow computers in operations
- Understanding the demand generated by these operations for flow computers in the oil & gas industry
- Estimating the size of the flow computer market for each country and each region
- Tracking the ongoing and upcoming implementation of technology projects by various companies for each operation and region and forecasting the market size based on these developments and other critical parameters, such as investments in R&D
Flow Computer Market in Oil & Gas: Top-Down Approach
- Focusing on top-line investments and spending in the ecosystem of the oil & gas industry; Tracking further split by new installations, modification of solutions, and developments in key market areas
- Building and developing the information related to market revenues offered by key hardware, software, and service providers
- Carrying out multiple on-field discussions with key opinion leaders across each major company involved in the development of hardware and software and offering services pertaining to flow computers in oil & gas
- Estimating the geographic split using secondary sources based on factors such as oil & gas production, refining capacity, consumption, and adoption of technologies in the oil & gas operations
Data Triangulation
After arriving at the overall size of the flow computer market in oil & gas through the process explained above, the total market has been split into several segments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments. The data has been triangulated by studying various factors and trends from the demand and supply sides. The market has also been validated using top-down and bottom-up approaches.
Market Definition
A flow computer is a microprocessor-based device that measures, monitors, and controls the flow of liquid, gas, and in some cases, steam. The flow computer receives signal inputs from flow meters: temperature, pressure, and other flow measurement transmitters. It calculates and records the data from the interfaced devices, important events, and alarms and then transfers it to external computers or workstations for inspecting, management, and accounting. It operates as the central point of the control system, collating and interpreting the raw data collected from monitoring equipment, which is then used to provide appropriate control over the system that it supervises.
Key Stakeholders
- Original Technology Designers and Suppliers
- Technical Universities
- Electronic Hardware Equipment Manufacturers
- Intellectual Property Vendors
- Market Research and Consulting Firms
- Intellectual Property Vendors
- Network Service Providers
- Software Service Providers
- Component Providers for Flow Computer Solutions and Software Integrators
- Subcomponent Manufacturers
- Government Organizations
- Technology Providers
- Software Solution Providers
- Venture Capitalists, Private Equity Firms, and Startups
Report Objectives
- To define, analyze, and forecast the flow computer market in oil & gas, in terms of value, by offering, operation, and region
- To forecast the market size for various segments with respect to five main regions: North America, Europe, Middle East, Asia Pacific, and Rest of the World (RoW)
- To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing market growth
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
- To provide a detailed overview of the value chain in the flow computer market in oil & gas and analyze the market trends
- To analyze opportunities in the market for various stakeholders by identifying the high growth segments of the flow computer market in oil & gas
- To strategically profile the key players and comprehensively analyze their market position in terms of ranking and core competencies2, along with detailing the competitive landscape for the market leaders
- To benchmark players within the market using competitive leadership mapping, which analyzes market players on various parameters within the broad categories of business and product strategies
- To map the competitive intelligence based on company profiles, key player strategies, and game-changing developments, such as product launches and partnerships
- To analyze the probable impact of the recession on the market in the near future
Available Customizations
Based on the given market data, MarketsandMarkets offers customizations in the reports according to the client’s specific requirements. The available customization options are as follows:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Flow Computer Market