Transparency Market Research has published a new report "Turbine Flow Meters for Subsea Applications Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2015 - 2023 " to its report store.
Albany, NY -- (SBWIRE) -- 10/20/2016 -- According to a new research study by Transparency Market Research (TMR), the global market for turbine flow meters for subsea applications is likely to expand substantially in the coming years. Thanks to the efficiency, fast speed, and high level of accuracy of turbine flow meters, their popularity has remarkably increased across the world, resulting in an upswing in their sales.
The increasing need for economic, efficient as well as accurate measurement equipment in the subsea industry is the key driving force behind the significant rise in the turbine flow meters market, states the research report.
The rising investments in subsea production technologies will also support the growth of this market considerably during the forecast period. However, the advent of new devices, such as differential pressure based flow meters, may limit the adoption of turbine flow meters for subsea applications in the near future, reports the study.
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The report evaluates the worldwide turbine flow meters for subsea applications on the basis of flow range of turbine flow meters, segmenting it into 1100-2250 l/min, 250-1100 l/min, 50-250 l/min, and 1.2-50 l/min.
The global market for turbine flow meters used for subsea applications has also been assessed on the basis of its geographical spread in this study. As per the study, the market is spread across North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
The Middle East and Africa is expected to present lucrative growth opportunities to market participants in the years to come. The presence of large offshore reserves and the increasing number of exploration projects in West Africa are anticipated to boost the demand for turbine flow meters in this region.
Europe is also projected to witness a steady demand for turbine flow meters in the years to come due to the upcoming exploration projects in the region. The region will also gain momentum due to the investment inflow, thanks to the stringent guidelines by government agencies associated with subsea exploration in European nations.
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Asia Pacific, on the other hand, will be driven by the increasing investments by exploration companies in FPSO and FLNG systems in the near future, notes the study.
The competitive landscape of the global market for turbine flow meters for subsea applications has also been analyzed in this study. Environmental Technologies Ltd., Flowtechnik Ltd., AW-Lake Co., Omni Instruments Ltd., Hoffer Flow Controls Inc., and ABB Ltd. are some of the key market players mentioned in this report.
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