INSTRUMENTATION
The instrumentation market is a multi-billion dollar market, worldwide. The market includes equipment for measurement of physical parameters including flow, pressure, temperature, level, density, weight, viscosity, radiation, current, voltage, inductance, capacitance, frequency, resistivity, and conductivity, among others.
Instrumentation equipment can be categorized into five major classifications for application on liquids, solids, gases, electrical circuits, and radiation detection.
Liquid Instrumentation (Flow, Temperature, Pressure, Level, Density, Viscosity)
Flow Measurement ($4.5B Global Market Value):
The flow measurement market is a $4.5-billion market, worldwide. The market includes flow meters in 11 major technology groups including: differential pressure (dp), positive displacement (pd), turbine, electromagnetic, coriolis mass, ultrasonic, vortex, thermal dispersion, open channel, optical, target, and variable area. The graph to the right prepared by Flow Research, Inc, and published in Flow Control magazine shows an estimate of the installed base of each respective technology.
Traditional meter technologies including dp, pd, target, and turbine meters tend to be static or slow in terms of market growth.
New-technology meters are generally understood to include coriolis mass, electromagnetic, ultrasonic, vortex, and thermal meters, even though the technology may be 40 years old (or more) at this point. These meters are generally in a growth mode because they offer higher accuracy or other operational benefits relative to the older-technology meters. Costs are generally coming down for new-technology meters as well, which is helping to drive growth at the expense of older- technology meters. Currently, ultrasonic meters are experiencing the fastest compound annual growth rate (CAGR).
A description of major flow meter technologies can be reviewed in the following article prepared by ABB Instrumentation and published by Flow Control magazine http://www.flowcontrolnetwork.com/issuearticle.asp?ArticleID=203).
General trends in flow meter technologies are summarized in the following article written by Flow Research, Inc, and published in Flow Control magazine. http://www.flowcontrolnetwork.com/issuearticle.asp?ArticleID=260
Specific information on the growth of ultrasonic meters is summarized in the following two articles written by Flow Research, Inc, and published by Flow Control magazine. http://www.flowcontrolnetwork.com/issuearticle.asp?ArticleID=232 http://www.flowcontrolnetwork.com/issuearticle.asp?ArticleID=224
More analysis is available by clicking here.