Flowmeter market factor

According to the International Energy Agency (IEA), the world needs to invest a cumulative $26.0 trillion (in 2007 dollars) in energy infrastructure from 2007 to 2030. Among them, the power industry invested 13.6 trillion US dollars, accounting for 52.3% of the total investment. By 2030, oil, gas and electricity infrastructure will need to be replaced in many parts of the world. In the long run, the foreseeable energy investment will bring no small space for the application of flowmeters in the oil and gas and energy industry.
Faced with a fierce competitive environment, and in order to respond to the demands of global energy conservation and emission reduction, users in various industries pay more attention to the operation efficiency of production plants and reduce energy consumption as much as possible to improve competitiveness. Therefore, a large amount of investment is used to improve the automation level of the plant and the collection and real-time monitoring of field data to improve the efficiency of the process control of the plant. For example, in the oil and gas and energy industries, reliable fluid measurement equipment is required in closed transmission facilities; The chemical and pharmaceutical industries require highly accurate flow meters, and various trends will drive the development of sensors and field equipment (including flow meters).
More electronic technologies, such as digital signal processing (DSP) and microprocessors, are being introduced into the flow meter, which enables the flow meter to be self-diagnostic and better communicate with the production control level. The improvement of performance better meets the needs of industry users, and creates more market application space for flowmeters.