The flowmeter market is now strong and trending upward as the economy regains its footing and rising oil and gas prices drive exploration and production, according to a new study by Flow Research Inc. Historically, the worldwide flowmeter market size has followed the downward and now sharply upward fluctuations in oil prices. The comprehensive study, Volume X: The World Market for Flowmeters, 8th Edition, found that the worldwide flowmeter market is rebounding from a slump that occurred during the height of the COVID-19 pandemic. The market, according to the study, totaled $7.03 billion in 2019 and $6.6 billion in 2020, with revenues forecast to reach a projected $6.9 billion in 2021 and $8.2 billion by 2024.
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