To operate an oil and gas facility efficiently reliable measurement and control appliances must be utilized during the operations. Turbine flow meters are designed to measure volumetric flow by responding to the viscosity of the respective fluid to be measured. Apart from viscosity, density and velocity of the fluid are the other major parameters which influence the measurement of the turbine flowmeters. These flow meters have been an effective flow measurement technology for the subsea industry. Turbine flow meters have several features which make them an excellent choice for subsea applications. The flow sensing element utilized in these flow meters are lightweight and compact compared to other metering technologies. As a result, these devices are usually preferred in subsea applications. Turbine flow meters are suitable for use on all low to medium viscosity fluids. These flowmeters are specifically designed for subsea operations at various depth levels. The market for turbine flow meters in subsea applications is expected to grow at a substantial rate owing to fast speed and high accuracy response of these devices.
The requirement of economic and accurate measurement equipments in the subsea industry is the major driver attracting investment in turbine flow meters market. The turbine flow meters are a proven technology which is much more economical as compared to other measurement techniques. The new cost pressures have led subsea oil and gas companies to adopt cost effective techniques in hydrocarbon facilities. As a result of this the market for turbine flow meters is predicted to grow along with the growing investment in subsea production technologies. Many companies offer customized turbine flowmeters to meet the extreme regulations associated with subsea applications. However, with the advancement in technology many new methods such as differential pressure based flow meters are developed which may hamper the growth of the market in future.
The market for turbine flow meters in subsea applications can be segmented on the basis of flow range of subsea turbine flow meters. The manufacturing companies offer a range of subsea turbine flow meters which are selected based on the requirement of the operator and the characteristics of the fluid. On the basis of flow range the market can be categorized as 1.2-50 l/min, 50-250 l/min, 250-1100 l/min and 1100-2250 l/min. The length and operating pressure of the turbine flow meters may also vary depending upon the range of flow meters.
The increasing offshore production activities in Brazil and Africa region will provide the major market for turbine flow meters in subsea applications in the coming future. Planned expansion projects and the large offshore reserves of West Africa is one of the prospective regions for the growth of for turbine flow meters in subsea applications. The strict guidelines issued by government agencies in European nations will further attract investment in this market. The shallow water exploration projects planned in Europe are predicted to be the potential segment for the growth of the turbine flow meters market. The exploration companies in Asia Pacific are also increasing investment in FPSO and FLNG systems which would provide growth opportunities for turbine flow meters in subsea applications.
Some of the major companies offering turbine flow meters for subsea applications are Flowtechnik Ltd, Environmental Technologies Ltd., AW-Lake Company, Hoffer Flow Controls, Inc., Omni Instruments Ltd. and ABB Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?