New Flow Research Study Finds $224 Million Vortex Flowmeter Market
Market will be more than $300 million by 2014, study predicts
A new Flow Research study found that the vortex flowmeter market has increased significantly in the last few years. According to “The World Market for Vortex Flowmeters, 4th Edition,” the worldwide vortex market totaled $224 million in 2009.
One cause of this upward growth is the versatility of vortex flowmeters, which can readily measure liquids, steam and gas. Only differential pressure flowmeters compare to vortex meters in their ability to measure different types of fluids. In addition, the American Petroleum Institute’s approval of a standard for using vortex flowmeters in custody transfer has continued to push sales upward. The study also found that new companies are entering the vortex flowmeter market and existing single-variable vortex providers are entering the multivariable market.
Flow Research projects a compound annual growth rate in revenues for the total worldwide vortex flowmeter market of 6.3% through 2014. By 2014, the vortex flowmeter market is projected to reach $303.7 million. The most rapid growth is occurring where new process plants are being built, primarily in China, the Middle East and in developing Asian countries.
“Vortex meters withstood the economic downturn better than most other new-technology flowmeters because of their ability to measure steam as well as liquids and gas,” said Dr. Jesse Yoder, president of Flow Research. “Magnetic flowmeters cannot measure steam flow, and Coriolis and ultrasonic flowmeters are just beginning to be used for this purpose. Not only can vortex meters tolerate high process temperatures and pressures, but they can also measure steam flow at varying velocities. This gives them a leg up in a variety of industries, including oil and gas.”