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“The water cut monitors market is projected to grow at a CAGR of 5.0 % from 2019 to 2024.”
The Water Cut Monitors market is expected to grow from an estimated USD 188 million in 2019 to USD 241 million by 2024, at a CAGR of 5.0%, during the forecast period. Water cut monitors find their area of application in the oil & gas industry, for well testing, separation vessels, multiphase flow meter (MPFM) applications, tank farms & pipeline, lease automatic custody transfer (LACT), refinery, and others. The growth of the water cut monitors market can be attributed to the rising investment in developing pipeline infrastructure and increasing deep-water E&P activities. Additionally, the oil & gas production in mature wells results in water cut situations, consequently boosting the water cut monitors market within mature oil & gas fields.
“The Lease automatic custody transfer (LACT) segment is expected to grow at the highest CAGR from 2019 to 2024.”
The Lease automatic custody transfer (LACT) segment is estimated to be the fastest-growing segment of the water cut monitors market, by application, from 2019 to 2024. The LACT unit measures the net volume of liquid hydrocarbon, density compensation of crude, water cut, and flow rate. These factors are essential and play a crucial role in obtaining the value of the oil. The increase in import & export activities between the major oil & gas supplying and consuming nations are anticipated to boost the LACT water cut monitor market during the forecast period.
“Asia Pacific: The largest market for water cut monitors.”
The Asia Pacific market at present is the largest water cut monitors market, accompanied by the markets in Europe, North America, South America, and the Middle East & Africa. The region has an excessive demand for oil because of the increased industrialization, urbanization, and population growth. Additionally, according to the BP Energy Outlook 2040, by 2040, the Asia Pacific region is anticipated to account for around 42% of the global liquid (oil, gas-to-liquids, biofuels, and coal-to-liquids) consumption which is expected to propel the water cut monitors market in the Asia Pacific region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as assess future market prospects. The distribution of primary interviews is as
- By Company Type: Tier 1- 60%, Tier 2- 25%, Tier 3- 15%
- By Designation: C-Level Executive- 35%, Director Level- 25%, Others- 40%
- By Region: North America- 30%, Europe- 23%, Asia Pacific- 17%, South America- 15%, Middle East & Africa- 15%,
Note: Others* include sales managers, engineers, and regional managers.
Note: Tier 1 Company?Revenue > USD 7 billion, Tier 2 Company?Revenue between USD 1 and USD 7 billion, and Tier 3 Company?Revenue < USD 1 billion
The key players in the water cut monitors market include Weatherford (Switzerland), Emerson (US), Phase Dynamics (US), and Ametek Inc. (US).
The report provides a picture of the water cut monitors market and its segments across industries and regions. It aims at estimating the market size and future growth potential of the market across different segments such as sector, location, application, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Why buy this report?
- The report identifies and addresses the critical markets for water cut monitors, which would help OEMs review the growth in demand for the product.
- The report helps solutions providers understand the pulse of the market and provides insight into drivers, restraints, and challenges.
- The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.