2014-02-24 05:26:01 - Global Turbine Flowmeter Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Turbine Flowmeter market is to grow at a CAGR of 0.70 percent over the period 2012-2016. One of the key factors contributing to this market growth is demand from the replacement activities. The Global Turbine Flowmeter market has also been witnessing the development of high-performance turbine flowmeters. However, the increasing threat from cross-technology flowmeters could pose a challenge to the growth of this market.
The development of high performance turbine flowmeters is one of the major trends in the Global Turbine Flowmeter market. Despite the low growth rate of the market, the turbine flowmeter manufacturers are improving the performance of flowmeters by using high quality components. For instance, turbine flowmeter manufacturers started using ceramic ball bearings for increasing the
durability of these meters. In addition, some of the notable vendors, for instance Emerson Electric Co., in the Global Turbine Flowmeter market continue to add some new products to their portfolio. Thus, with this emerging trend the Global Turbine Flowmeter market is witnessing a positive growth during the forecast period.
Demand for replacement activities is one of the major factors that drive the Global Turbine Flowmeter market. Turbine flowmeters had been installed in large numbers in several industries such as Water and Wastewater and Oil and Gas. Many of these end-users prefer to continue to operate with existing turbine flowmeters with a desired output. These end-users are involved in replacing turbine flowmeters and related components. Thus, the increasing demand from existing users drives the Global Turbine Flowmeter market.
The increasing competition from cross-technology flowmeters is one of the major challenges in the Global Turbine Flowmeter market. Turbine flowmeters face stiff competition from other types of flowmeter such as coriolis, vortex, ultrasonic, and magnetic flowmeters.
The key vendors dominating this market space are Emerson Electric Co., GE Co., and RMG Group. The other vendors mentioned in the report are Aichi Tokei Denki Co. Ltd., Badger Meter Inc., Cameron International Corp., and Hoffer Flow Controls Inc.
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