DUBLIN--(BUSINESS WIRE)--Sep 11, 2020--

The Flow Computer Oil Gas Market is expected to grow at a CAGR of 4.83% during the forecast period. The growth can be attributed to the growing need for reliable flow and high-tech computing systems and the continually evolving data computational capacity of flow computers.

Over the past decade, the shale boom and changing oil and gas markets have driven the growth of oil and gas production, much of which has been enabled by advancement in communications and computing technology. The modern shale production well pad designs require for 8 to 24 wells, each of which may produce oil and natural gas. The economics of the modern oil and gas field requires concentration of measurement controls in a single location.

Companies Mentioned

  • Schneider Electric SE
  • ABB Ltd.
  • Honeywell International Inc.
  • Emerson Electric Company
  • Bedrock Automation Platforms, Inc. (Maxim Integrated Products, Inc.)
  • Yokogawa Electric Corporation
  • Quorum Business Solutions, Inc.
  • OMNI Flow Computers, Inc.
  • Dynamic Flow Computers, Inc.

Key Market Trends

Evolving Data Computational Capacity of Flow Computers

  • The development of single, rugged platform equipped with consolidated measurement and controls, edge computing, advanced connectivity and intrinsic cyber security by many players for the oil and gas industry has led to the expansion of flow computer processing capabilities.
  • Many players like Quorum are already offering integrated solutions for core processing demands across the upstream, midstream and downstream segments of the value chain. Quorum offers its software platform to more than 75% of the top oil and gas producers in the United States.
  • Further product improvements in new and traditional technology flowmeters are also contributing to the data capturing ability of such systems. Vortex and turbine suppliers have now started offering flowmeters with two sensors and simultaneously calibrated dual flowmeter. FCI expanded its Adaptive Sensor Technology (AST) to offer ST80 Series Thermal Mass Flow Meter that has enhanced the rangeability, accuracy, extended service life, and reliability for process industry air/gas flow measurement.
  • The introduction of these sensors have led to the possibility to create new internal and external applications for flow computers. For instance, predictive maintenance along with virtual- and augmented-reality capabilities has the potential to enable remote maintenance and technical support thereby reducing flow measurement costs in day to day operations.

North America to Hold the Largest Market Share

  • The region has been continually increasing Oil Production since the commercial exploration of Shale Oil has gained prominence in the past decade. In 2019, US exports of crude, as well as liquefied natural gas (LNG) and refined products, continue to rise, which aligned perfectly with the new administration's motto of energy dominance for the United States.
  • In September 2019 the country exported 140,000 bpd more crude oil and petroleum products than imported. According to the Energy Information Agency the total crude oil and petroleum net exports is expected to rise up to an average 750,000 bpd in 2020 as compared with the net imports of 520,000 bpd in 2019.
  • The region already has a favourable ecosystem where SCADA is widely applied in the upstream, midstream, and downstream oil and gas sectors . In the upstream sector, its role often is stereotyped as being largely in support of remote data transmission. However, due to the wide and varied use of SCADA in other industrial sectors, this is expected to change. Baker Hughes for instance uses InForce surface control system which combines the hydraulic power to activate downhole tools and the control logic to govern an intelligent well system. PLC controls system functions for more complex completion configurations. It is primarily used where remote operations must be done through existing SCADA.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Growing Need for Reliable Flow and High-Tech Computing Systems

4.2.2 Continually Evolving Data Computational Capacity of Flow Computers.

4.3 Market Restraints

4.3.1 Cyber-Security Threats Deterring Deployment of Advanced Flow Computer Systems

4.3.2 Dynamic Changes in Oil & Gas Prices leading to Reduced Investment in Infrastructure

4.4 Industry Value Chain Analysis

4.5 Assessment of Impact of Covid-19 on the Industry

5 MARKET SEGMENTATION

5.1 Offering

5.1.1 Hardware

5.1.2 Software

5.2 Geography

5.2.1 North America

5.2.2 Europe

5.2.3 Asia-Pacific

5.2.4 Latin America

5.2.5 Middle East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/czriic

Laura Wood, Senior Press Manager

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KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY ENERGY OTHER TECHNOLOGY OIL/GAS

SOURCE: Research and Markets

Copyright Business Wire 2020.

PUB: 09/11/2020 09:42 AM/DISC: 09/11/2020 09:42 AM

Copyright Business Wire 2020.