Global Steam Flow Meters Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Steam Flow Meters Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The steam flow meter is designed to measure saturated steam through a pipe and generates a mass flow rate of steam based on this measurement and calculations.

Market Overview:

The latest research study on the global Steam Flow Meters market finds that the global Steam Flow Meters market reached a value of USD 519.43 million in 2022. It’s expected that the market will achieve USD 763.92 million by 2028, exhibiting a CAGR of 6.64% during the forecast period.

For the operation of the market, during the COVID-19 epidemic, in order to firmly prevent the spread of epidemics, governments have promulgated measures to extend vacations, delay business recovery, flow control and traffic control measures, and postpone recovery activities. COVID-19 has a huge impact on the operation of the industry, of which the impact on SMEs is more obvious. The company's inability to conduct normal operations and sales has exacerbated the shortage of funds for SMEs and reduced the company's solvency.

In addition to the impact on upstream raw material supply and industry operations, the impact of the epidemic on the Steam Flow Meters market is mainly reflected in downstream demand. Major industries such as oil & gas, chemicals, pharmaceuticals in the COVID-19-impacted regions have been adversely impacted in this scenario due to the closedown of plants, the disruption of the supply chain, and a subsequent decline in demand for products offered by these industries. Consequently, this may have a negative impact on the overall steam flow meter market as there might be less adoption of them by these industries for the short term.

Growth in Downstream Demand

High demand in the Chemical industries is one of the main driving factors driving the growth of the global steam flow meter market. Another major driving factor of the global steam flow meter market is the huge demand for steam flow meters in the Pharmaceutical industry, which is attributed to its widespread use for steam flow measurement in the sterilization process. The macro factors driving the development of the global steam flow meter market are emerging economies, including Brazil, China and India and rapid development of industrialization.

Reduction in the exploitation of petroleum resources

Out of the protection of non-renewable energy. Countries such as Dubai, Kuwait, Qatar and the United States have reduced oil extraction from new wells. This has led to a decrease in capital investment in infrastructure projects related to the oil and gas industry. The implementation of various process automation systems is a part of infrastructure projects such as new pipeline construction, the exploration of hydrocarbons, or the development of new refinery. Hence, the decline in capital investments by investors affects the market for intelligent flow meters. The decline in oil drilling in wells has simultaneously affected the related processes. Fluctuations in oil and natural gas prices Natural gas commodities may affect infrastructure investment because it reduces investment returns. Therefore, this has a negative impact on the use of steam flow meters industry.

Region Overview:

Europe is projected to account for a considerable share of the Steam Flow Meters market and is expected to become the largest region by 2027.

Company Overview

Rosemount (Emerson) is one of the major players operating in the Steam Flow Meters market, holding a share of 16.9% in 2020.

Rosemount (Emerson)

Emerson, headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Rosemount Inc. is a subsidiary of Emerson Electric Company.

ABB

ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels.

Segmentation Overview:

By type, Orifice Plate Flowmeters segment accounted for the largest share of market in 2021.

Orifice Plate Flowmeters

The orifice plate flow meter is commonly used in clean liquid, gas, and steam services. It is available for all pipe sizes but it is very cost-effective for measuring flows in larger ones (over 6 diameter). The orifice plate is also approved by many organizations for custody transfer of liquids and gases.

Variable Area Flowmeters

The variable area flow meter is an industrial flow meter used to measure the flowrate of liquids and gases. The variable area meter consists of a tube and float. The float response to flowrate changes is linear, and a 10-to-1 flow range or turndown is standard.

Spring Loaded Variable Area Flowmeters

The spring loaded variable area flow meter (an extension of the variable area flow meter) uses a spring as the balancing force. This makes the flow meter independent of gravity, allowing it to be used in any plane, even upside-down.

Direct In-Line Variable Area (TVA) Flowmeters

Direct In-Line Variable Area (TVA) Flowmeters operate on the well-established spring loaded variable area (SLVA) principle, where the area of an annular orifice is continuously varied by a precision shaped moving cone. This cone is free to move axially against the resistance of a spring.

Ultrasonic Flowmeters

An ultrasonic flow meter is a type of flow meter that measures the velocity of a fluid with ultrasound to calculate volume flow. Using ultrasonic transducers, the flow meter can measure the average velocity along the path of an emitted beam of ultrasound, by averaging the difference in measured transit time between the pulses of ultrasound propagating into and against the direction of the flow or by measuring the frequency shift from the Doppler effect.

Vortex Shedding Flowmeters

Vortex shedding flowmeters are a type of flowmeter available to the process industry for the consistent evaluation of flow rates. These flowmeters measure the volumetric flow rate of media such as steam flowing in pipes, gases, and low viscosity liquids, boasting both versatility and dependability. Since they have no moving parts, they are impervious to the kind of wear turbine or mechanical meters experience.

Application Overview:

By application, the Chemical segment occupied the biggest share from 2017 to 2022.

Chemical

The chemicals industry is one of the prominent end-user industries of steam flow meters. These flow meters are predominantly used in the chemicals industry for the measurement of chemical fluids in manufacturing and processing plants as well as their disposal. A huge amount of waste chemical fluids is required to be handled at the chemical plants.

Oil & Gas

The oil & gas industry is one of the significant industry areas for Steam flow meters. The oil & gas industry comprises processes such as the extraction, processing, and refining of oil and natural gas.

Pharmaceutical

The Pharmaceutical industry is one of the largest industrial areas for steam flow meters. Steam flow meters have been widely used in this industry.

Power

The Steam Flow Meters are usually used for flow rate measurement of maintenance spot-checking applications and to measure steam and vapors throughout the power plants. etc.,

Key Companies in the global Steam Flow Meters market covered in Chapter 3:

Aalborg Instruments
Systec Controls
Rosemount (Emerson)
Krohne
Endress+Hauser
EMCO Controls
Spirax Sarco
Sierra Instruments
Siemens
ABB
Yokogawa
Tecfluid
ONICON
GE

In Chapter 4 and Chapter 14.2, on the basis of types, the Steam Flow Meters market from 2018 to 2029 is primarily split into:

Orifice Plate Flowmeters
Variable Area Flowmeters
Spring Loaded Variable Area Flowmeters
Direct In-Line Variable Area (TVA) Flowmeters
Ultrasonic Flowmeters
Vortex Shedding Flowmeters
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Steam Flow Meters market from 2018 to 2029 covers:

Chemical
Oil & Gas
Pharmaceutical
Power
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)