Multiphase flowmeter market growing fast
Multiphase flowmeters are an evolving technology and the fastest growing flowmeter type, outpacing ultrasonic and other new-technology flowmeters, according to a new study from Flow Research, The World Market for Multiphase Flowmeters. The study found that the multiphase flowmeter market totaled $240.0 million in 2011. The market is projected to increase at a compound annual growth rate of 14.5 percent through 2016 until it reaches $472.2 million. While the bulk of these revenues are from multiphase meters, some also come from dual phase meters manufactured by multiphase meter suppliers.
Multiphase flowmeters determine the percent of gas, water, and oil that makes up the fluid as it comes out of an oil or gas well. They then use other values to determine the flowrate of each fluid. This information is very valuable because it tells the operator how much of each type of fluid is coming out of the well before the fluids are separated. Multiphase flowmeters also yield valuable information about the condition of the oil or gas well where the drilling occurs.
—News brief courtesy of Automation.com