The subsea multiphase flowmeter market is anticipated to expand at a robust CAGR of 8.5% between 2021 and 2031, according to a recent report by Future Market Insights (FMI). The primary factor driving this growth is the crucial role these flowmeters play in efficiently managing the inflow and outflow of oil and gas in subsea environments. Their increasing application in production management, monitoring, and deep reservoir operations is expected to further fuel market demand.
The report also underscores the strategic importance of setting up sales and service centers in developing economies and forming partnerships with regional distribution networks, which are proving to be effective for long-term market growth. While the COVID-19 pandemic temporarily impacted global economic activity, the subsea multiphase flowmeter market is set for recovery as trading and economic activities resume following the lifting of lockdowns.
Key Takeaways of Subsea Multiphase Flowmeter Market Study
- Subsea flowmeter market is relied upon to enlist 8.5% CAGR somewhere in the range of 2021 and 2031
- The U.S. is relied upon to have most noteworthy piece of the pie the worldwide subsea multiphase flowmeter market. Inside North America, it is relied upon to represent more than 66% of deals
- The U.K. will arise as a vital market inside Europe, showing 5.6% y-o-y development in 2021
- Extension of oil and gas creation will keep supporting development in Germany and France
- China will keep driving deals in East Asia, supported by rising interest for energy
Prominent Drivers
- Slugging flow detection abilities along with measuring complex flow properties boosts subsea multiphase flowmeter market growth.
- Integration of modern techniques and automation tools to subsea multiphase flowmeter is expected to provide lucrative opportunity for market expansion.
- Growing global investment in oil and gas sector will fuel the market demand.
Key Restraints
- Progress from oil and gas industry to electric mobility and renewable sources of energy hampers the market growth.
- Inaccurate measurements with fractional change in physical properties of oil restrict the market growth.
- A high investment requirement for installation and deployment of subsea multiphase flowmeter negatively affects the market demand.
Some of the leading companies operating in the market are:
- Weatherford
- Baker Hughes
- AMETEK Inc.
- Schlumberger Limited
- ABB Ltd
- TechnipFMC plc
- Emerson
- KROHNE Japan KK
- Peitro Fiorentini S.p.a.
- Haimo Technologies Group Corp
- Tokico System Solutions Ltd
Subsea Multiphase Flowmeter Market by Category
By Pipe Size
- 2″ Subsea Multiphase Flowmeter
- 3″ Subsea Multiphase Flowmeter
- 4″ Subsea Multiphase Flowmeter
- 6″ Subsea Multiphase Flowmeter
- 8″ Subsea Multiphase Flowmeter
- 10″ Subsea Multiphase Flowmeter
By Application
- Subsea Well Testing
- Production Monitoring
- Production Measurement
- Others
By Construction Material
- Stainless Steel Subsea Multiphase Flowmeter
- Duplex Steel Subsea Multiphase Flowmeter
- Corrosion Resistant Alloys Subsea Multiphase Flowmeter
- Titanium Subsea Multiphase Flowmeter
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Report Preview: https://www.futuremarketinsights.com/reports/subsea-multiphase-flowmeter-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
