LAMEA Flow Computer in Oil & Gas Market Size, Share & Industry Trends Analysis Report By Operation (Midstream & Downstream and Upstream), By Component (Hardware, Software and Support Services), By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The Latin America, Middle East and Africa Flow Computer in Oil & Gas Market would witness market growth of 7.2% CAGR during the forecast period (2023-2029).
The market is mainly driven by the rising use of flow computers in the oil and gas sector and the rise in energy consumption. In addition, the market is also being propelled by the expanding use of cutting-edge technologies like cloud computing and wireless networking in flow computers for oil & gas. The ability to remotely monitor and log data made possible by these technologies is anticipated to fuel the expansion of the flow computer market throughout the forecast period.
A typical orifice measuring application needs a temperature probe, static pressure transducer, and differential pressure transmitter. One or two wells per pad were the norm for conventional oil and gas production site designs. Modern production well pad designs feature multiple wells that can produce oil, natural gas, and water. Furthermore, an increasing number of sites have transitioned to conducting all operations at the production pad instead of the previous method of conducting facility and wellhead controls at different locations. Concentrating measurement and control in one place is necessary for modern oil and gas fields' economics.
Saudi Arabia, one of the world's leading net petroleum exporters, has approximately 17% of the world's confirmed oil reserves. Saudi Arabia contains one of the world's largest proven oil reserves. Saudi Aramco is one of the largest chemical and energy-integrated corporations. The vast reserves in the region will significantly increase the demand for flow computers to inspect, manage and transfer data in the oil and gas sector, which is expected to drive market growth in the region.
The Brazil market dominated the LAMEA Flow Computer in Oil & Gas Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $25.1 million by 2029. The Argentina market is estimated to grow a CAGR of 7.7% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 6.9% during (2023 - 2029).
Based on Operation, the market is segmented into Midstream & Downstream and Upstream. Based on Component, the market is segmented into Hardware, Software and Support Services. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Flow Computer in Oil & Gas Market is Projected to reach USD 1.1 Billion by 2029, at a CAGR of 5.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., Honeywell International, Inc., ABB Ltd., Thermo Fisher Scientific, Inc., Schneider Electric SE, TechnipFMC plc, Sick AG, Badger Meter, Inc., Hoffer Flow Controls, Inc., and Spirax Sarco Limited.
Scope of the Study
Market Segments Covered in the Report:
- Midstream & Downstream
- Support Services
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Emerson Electric Co.
- Honeywell International, Inc.
- ABB Ltd.
- Thermo Fisher Scientific, Inc.
- Schneider Electric SE
- TechnipFMC plc
- Sick AG
- Badger Meter, Inc.
- Hoffer Flow Controls, Inc.
- Spirax Sarco Limited
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Global Flow Computer in Oil & Gas Market Report 2023-2029
North America Flow Computer in Oil & Gas Market Report 2023-2029
Asia Pacific Flow Computer in Oil & Gas Market Report 2023-2029