Turbine flow meters are velocity measurement devices used for measuring the volumetric flow of liquid/gas. At oil and gas facilities, turbine flow meters are deployed for the transfer of hydrocarbons and gases in a controlled manner. Advanced turbine flow meters commonly used at oil and gas facilities incorporate the functionality of flow computers for correcting properties such as pressure, fluid, and temperature of the gas/liquid under observation and achieve the desired accuracy for the application. Other than the oil and gas industry, turbine flow meters find miscellaneous applications in water, chemicals, and the food and beverages industries.
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Global turbine flow meters market have features that make them an excellent choice for volumetric measurement devices in the subsea industry. The flow sensing elements used in turbine flow meters are compact and light in weight compared to other metering technologies. As a result, turbine flow meters are suitable for subsea operations at different depth levels. The high accuracy and fast speed response of turbine flow meters also make them highly viable for subsea operations.
Rise in Global Subsea Activities Boost Global Demand
The continuous rise in energy demands from the mounting global population and the strengthening industrial sector in the past few years, coupled with matured onshore reserves of oil and gas, have boosted exploration and production activities from subsea reserves. With the section of subsea oil and gas exploration and production garnering an increased level of attention on a global front, the market for turbine flow meters is also expected to tread along an upward growth trajectory in the coming years.
The market is benefitting especially from the rising offshore oil and gas exploration and production activities in Africa and Brazil in the next few years. A number of planned expansion projects and the vast offshore reserves in West Africa are potential growth sectors for the global market for turbine flow meters. Strict guidelines related to operations at oil and gas facilities in Europe could prove to be another significant factor propelling the market in the near future. Along with this, a number of shallow water exploration projects planned in European countries will significantly boost the demand for turbine flow meters.
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However, the depression that currently engulfs the global oil market owing to the continuously declining crude oil prices can hamper the overall development of the global turbine flow meters market to a certain extent. The development of numerous newer volumetric flow measuring devices at a rapid pace owing to technological advancements is also expected to hinder the growth of the global turbine flow meters market to a certain extent on the global front.
The market features a large number of companies offering customized turbine flow meters according to the specific regulations associated with operations at subsea facilities. Companies offer a wide range of turbine flow meters that are chosen on the basis of the characteristics of the fluid/gas under observation. Based on flow range, the market is segmented into 1100-2250 l/min, 250-1100 l/min, 50-250 l/min, and 1.2-50 l/min.
Some of the major vendors operating in the global turbine flow meters market for subsea operation are Environmental Technologies Ltd., Flowtechnik Ltd, Omni Instruments Ltd., AW-Lake Company, ABB Ltd., Hoffer Flow Controls, Inc.
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