The world market for differential pressure (DP) flowmeters is much larger than previously known, according to a recent study from Flow Research, Wakefield, Mass. The worldwide DP flowmeter market totaled $996 million in 2006, and will exceed one billion dollars in 2007, according to the study, titled “The World Market for Differential Pressure (DP) Flowmeters and Primary Elements.” The study projects that worldwide DP flowmeter revenues will increase at a compound annual growth rate of 6.5 percent through 2011, when they are expected to approach $1.4 billion.
The DP flowmeter market has previously been undervalued because only the value of DP transmitters has been counted toward the value of the DP flowmeter market, according to Flow Research. The company’s current study includes the value of both DP transmitters and primary elements in the total market size.
DP flowmeters use both a DP transmitter and a primary element in making a flow measurement. The primary element places a restriction in the flow stream, and the DP flow transmitter measures the difference between the upstream and downstream pressures. Examples of primary elements include orifice plates, Venturi tubes, Pitot tubes, and flow nozzles. While some companies offer both DP transmitters and primary elements, a large group of companies mainly offer primary elements. Many customers buy their primary elements and DP flow transmitters from different suppliers.
DP flowmeters are widely used in the oil, gas, and refining industries. These industries have been on the upswing in the past year, due to the increased price of crude oil and the search for new energy sources. Hence, the projections for solid growth.
According to Flow Research President Jesse Yoder, the future looks bright for DP flowmeters. “DP flowmeters have the largest installed base of any flowmeter type. Both DP flow transmitter and primary element manufacturers are making product improvements and new product introductions. As a result, customers can enhance their technology without switching to a different flowmeter type. We see solid growth ahead for this market.”