The global water cut monitors market size is projected to reach USD 241 million by 2024, from an estimated USD 188 million in 2019, growing at a CAGR of 5.0% during the forecast period. Asia Pacific is estimated to be the most significant water cut monitors market, by region, followed by North America. This trend is expected to continue during the forecast period. The growth of the water cut monitors market is driven globally by rising demand for real-time monitoring devices and increasing import activities from Middle East countries
The water cut monitors market is dominated by a few global players. The key players operating in this market include Weatherford (Switzerland), Emerson (US), Phase Dynamics (US), and Ametek Inc. (US).
Contracts & agreements and new product launches have been the key growth strategies adopted by major market players. Contracts & agreements were the most commonly used strategy used from January 2016 to June 2019. These market players also adopted the new product launches strategy during the same period.
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Weatherford (Switzerland), founded in 1941, is one of the key oilfield service companies offering technologies, solutions, and services for drilling, evaluation, production, completion, and intervention activities in the oil & gas industry. The company’s two major reportable segments are the western hemisphere and the eastern hemisphere. The western hemisphere segment comprises the North American and Latin American regions, while the east hemisphere segment includes Russia, China, the Middle East, North Africa, and Asia. The company operates its business through four product lines, namely, well construction, production, drilling and evaluation, and completions. It offers equipment and services for both onshore and offshore operations. The production segment offers production 4.0 solutions, artificial lift systems, reciprocating plunger pumps, reservoir monitoring systems, and production advisor solutions. Water cut meters are offered under the flow measurement system of the production 4.0 solution offerings. Weatherford operates across 90 countries, with sales and services offices located in most of the major oil & gas producing countries. The company has adopted contracts & agreements as its major strategy. For instance, in 2016, Weatherford was awarded a contract by Petronas. Under the contract, Weatherford will provide Red Eye 2G hot tap water meters that will be installed in the total crude export line. The Red Eye 2G water meters will provide real-time flow measurement data, which will be used for proactive production management.
Emerson (US), founded in 1890, is one of the leading solution providers for industrial and commercial markets, offering industrial automation, process management, and engineering services. The company operates through two business segments, namely, automation solutions and commercial & residential solutions. It provides water cut meters under the measurement instrumentation subsegment of the automation solutions business segment. The automation solution business segment accounted for a 65.6% share of the company’s total revenue in 2018. It provides the water cut meters under its ROXAR brand. Emerson has a presence in Asia, Latin America, Eastern Europe, and the Middle East & Africa. The company has 80 manufacturing locations in North America, 60 in Europe, 25 in South America, five in the Middle East & Africa, and 45 in Asia Pacific.
Water Cut Monitors Market by Sector (Upstream, Midstream, Downstream) Location (Onshore, Offshore) Application (Well Testing, Separation Vessel, LACT, Tank Farm & Pipeline, MPFM Applications, Refinery), Region - Global Forecast to 2024
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