The market for these meters has enjoyed strong growth in recent years and 2008 was no exception, as technological improvements continue to expand their application range, says a recent report from ARC Advisory Group Inc. (www.arcweb.com), Dedham, Mass.
Revenue growth for Coriolis flowmeters was strong in all vertical industries, driven by greater user acceptance of the technology, increased sales of larger-sized meters, advances in measuring two-phase flow and start empty/finish empty batch applications, the emergence of two-wire designs, and increasing popularity in custody transfer applications, particularly in the oil and gas industry.
This combination of factors has provided a big lift to the Coriolis market and is the reason Coriolis meters have been one of the fastest-growing flow technologies in recent years, says the report, titled “Coriolis Flowmeter Worldwide Outlook.” However, according to ARC Analyst Joe Gillespie, the principal author of the report, “It is safe to assume that this period of extraordinarily strong growth has passed and growth rates will drop markedly in the near future as the effect of the global economic recession takes its toll on the market for Coriolis flowmeters. Negative market growth is a possibility for 2009.”
The versatility of Coriolis flowmeters is the most significant factor contributing to the growth of the technology. Direct mass flow measurement eliminates the need to compensate for other process variables, and Coriolis flowmeters can provide simultaneous outputs corresponding to volumetric flow rate, total flow, density, and temperature. No other flow device has such extensive capabilities.
While the global economic downturn has negatively impacted markets, government stimulus packages in countries including the United States and China are expected to help support the automation market throughout the remainder of the downturn.
Regionally, suppliers can expect to see the largest growth for Coriolis meters in Asia, where heavy investment in new plant construction continues in core sectors, and in the Middle East, due to its high concentration of oil and gas activities and its growing focus on water desalination, ARC says. In the mature North American and Western European markets, suppliers will largely rely on replacement business, as Coriolis meters continue to gain preference over other flow technologies. Latin America will see above average growth, but remain a relatively small market for Coriolis flowmeter suppliers, according to ARC.
ARC Advisory Group Inc.