Global Coriolis Meters Market Report 2022: Market to Reach $2.5 Billion by 2024 - Innovations & Advancements Accelerate Growth

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Apr 05, 2022, 14:30 ET

DUBLIN, April 5, 2022 /PRNewswire/ -- The "Coriolis Meters - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Coriolis Meters Market to Reach $2.5 Billion by 2024

The global market for Coriolis Meters is projected to reach a revised size of US$2.5 Billion by 2024, registering a compounded annual growth rate (CAGR) of 9.2% over the analysis period.

Given the high accuracy and reliability offered, Coriolis flowmeters are emerging as a chosen flow measurement technology.

United States represents the largest regional market for Coriolis Meters, accounting for an estimated 23.2% share of the global total. The market is projected to reach US$606.9 Million by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 12.2% over the analysis period.

Global market for Coriolis meters continues to make strong gains globally, driven primarily by the rapidly rising demand for energy across the world and the subsequent increase in planned energy projects being established in various regions, especially in emerging nations.

In particular investments into oil & gas projects have been increasingly in developing regions of Asia-Pacific and Middle east, as governments look to address the escalating demand for energy, thus providing favorable outlook for Coriolis meters market. Oil & gas industry uses Coriolis meters for measuring mass flow of fluids. With production of natural and shale gas production rising constantly and investments into deep water projects increasing, the market for Coriolis meters is poised for growth.

With energy demand rising, the market for Coriolis flowmeters is expected to witness strong growth in the coming years. However, high cost involved in installation and calibration of Coriolis meters are the major impediments to adoption of the meters.

The United States represents a promising regional market for Coriolis meters due mainly to the discovery of vast reserves of shale gas and the subsequent rise in demand for the meters in the industry. The shale gas discoveries are also positively impacting the chemical and petrochemicals segments, thus spurring demand for Coriolis meters in the market.

In Latin America, rising investments in oil & gas projects and adoption of innovation technology in the oil & gas industry are contributing to high growth in Coriolis meters market.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
An Introduction to Coriolis Meters
Coriolis Meters Market: Current Scenario and Outlook
Rise in Global Energy Needs and Ensuing Demand for Coriolis Meters Shapes Market Growth
Coriolis Meters - Global Key Competitors Percentage Market Share in 2022
Impact of Covid-19 and a Looming Global Recession
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022

2. FOCUS ON SELECT PLAYERS

ABB (Switzerland)
AW-Lake Company (USA)
Azbil Corporation (Japan)
Brooks Instrument (USA)
Emerson Electric Co. (USA)
Endress+Hauser AG (Switzerland)
Honeywell International, Inc. (USA)
KROHNE Messtechnik GmbH (Germany)
Liquid Controls LLC (USA)
Malema Engineering Corp. (USA)
Rheonik Messtechnik GmbH (Germany)
Schneider Electric (France)
Siemens AG (Germany)
Yokogawa Electric Corp. (Japan)

3. MARKET TRENDS & DRIVERS

Coriolis Meter: A Versatile Flow Measurement Tool for Challenging and Critical Industrial Applications
Inherent Operational and Technical Benefits of Coriolis Flowmeters Augment Demand in Process Industries
Industry Approvals Vital to Market Expansion
Oil & Gas Exploration Investments Support Demand for Coriolis Meters
Rise in Drilling Activities and Ensuing Need for Wellhead Flow Measurement to Spur Demand for Coriolis Flowmeters
Upswing in Deep Water Exploration Activities to Create Demand for High-Pressure Coriolis Flowmeters
Buttressed by Lower Drilling Costs and New Fields Scheduled to Come Online, Steady Increase in Deepwater Oil Production Bodes Well
Oil & Gas Industry's Shift towards Large Diameter Pipelines Fuels Development of Larger Coriolis Flowmeters
Larger Capacity Coriolis Flowmeters to Address High Volume Applications
Increase in Oil Prices: Favorable Prospects for Coriolis Flowmeters Market
Growing Adoption of Coriolis Technology in Custody Transfer of Oil and Gas
Advantages of Coriolis Meters for Custody Transfer Applications
Coriolis Meters Find Use in Multi-Phase Flow Metering in Offshore Pipelines
High-Pressure Chemical Injection: A Prominent Application
Opportunities Abound for Coriolis Meters in the Natural Gas Sector
Led by US, Robust Production of Natural Gas Amplify Demand for Coriolis Flowmeters in Measuring Wet Gas Flows
Reference Standards for Gas Flow Measurement
Coriolis Flowmeters for Gas Flow Measurement Applications: Advantages and Disadvantages
Coriolis Meters Best for LNG Custody Transfer Application
Chemicals & Petrochemicals Industry: Enabling Accurate Flow Measurements
Coriolis Flowmeters Enable Measurement of Liquids with Entrained Gas
Coriolis Meters in Food & Beverage Industry: Need for Accurate Flow Measurements Drives Growth
Innovations & Advancements Accelerate Growth in Coriolis Meters Market
Advances in Flowmeter Technology Spur Development of Coriolis Meters with New Generation Capabilities
New Diagnostic Tools Enable Real-Time Verification of Coriolis Flowmeters and Increase Efficiency in Asset Maintenance
Emergence of Large Line Size Coriolis Flowmeters for Bulk Fluid Transfer Applications
Two-Wire Devices Better Coriolis Flow Meter Functionality
Drawbacks of Coriolis Flowmeters to Challenge Market Growth

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/c2iws5

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SOURCE Research and Markets