Processing, July 2019

INDUSTRY WATCH MARKETS UPDATE ACQUISITIONS EXPANSIONS PARTNERSHIPS APPOINTMENTS PROMOTIONS MARKETS UPDATE Global flowmeter market to approach 885B by 2023 A new study from Flow Research finds that the worldwide flowmeter market totaled 706 billion in 2018 and is projected to approach 885 billion by 2023 The worldwide flowmeter market size has followed the upward and downward fluctuations in oil prices When oil prices began dropping five years ago and many oil and gas exploration projects were postponed or canceled associated instrumentation industries experienced a ripple effect This downturn especially impacted the Coriolis ultrasonic differential pressure positive displacement and turbine flowmeter markets In 2015 for the first time in many years new technology flowmeter markets showed a decline The only exception was a small revenue increase for magnetic flowmeters which cannot measure the flow of hydrocarbons and therefore are not widely used in the oil and gas industry In February 2016 oil prices began recovering and the worldwide flowmeter market is now back on a healthy upward track Coriolis and ultrasonic flowmeters which are industry approved for custody transfer of both gas and liquids are projected to experience the fastest growth rates over the next four years Industrial pumps market worth 90B by 2026 According to Acumen Research and Consulting the global industrial pumps market will reach around 90 billion by 2026 and is expected to grow at a compound annual growth rate CAGR of around 6 between 2019 and 2026 Growing use of industrial pumps in various applications including wastewater treatment and chemicals is likely to drive the market over the forecast period Demand for industrial pumps from process and manufacturing industries is another driving factor of the market The rise in product energy pumps for the transportation and extraction of oil and natural gas is having a positive effect on the market Increase in crude oil price is also boosting the demand for the market as it fuels the energy sectors revenue DCS market to hit 1714B by 2025 As end user industries embrace the concept of industrial internet of things IIoT or Industry 40 there will be greater demand for IT operational technology OT convergence according to research from Frost Sullivan In this environment distributed control system DCS vendors that are keen to prove their agility and adaptability will look to innovate in the software segment to create value for end users The revenue opportunities in evolving into an open secure and interoperable DCS system is expected to drive the 1479 billion DCS market toward 1714 billion by 2025 ACQUISITIONS EXPANSIONS PARTNERSHIPS US now biggest sales market for Endress Hauser Endress Hausers strongest growth was seen in the Americas After 65 years the U S replaced Germany as the companys largest sales market China sales also grew at a double digit pace Company officials said that if this trend continues China could soon take over the top spot Overall Endress Hauser increased net sales by 95 to 2455 billion 273 billion despite facing strong headwinds from foreign exchange rates Statiflo expands in Australia New Zealand Engineering company Statiflo is expanding across Australia and New Zealand after recruiting business partners to spearhead growth in new markets The company has added Australian business Piping and Automation Systems and New Zealand based Asmuss Plastic Systems to its growing network Statiflo which has its headquarters in Macclesfield Cheshire United Kingdom and subsidiaries in the U S and Germany designs and distributes static mixers and other process equipment Donaldson Company breaks ground for new material research center Donaldson Company a manufacturer of filtration products broke ground on a 15 million material research center at its corporate headquarters in Bloomington Minnesota With the addition of the center Donaldson will add six researchers and engineers to the companys headquarters population of 1100 employees The center is scheduled to open in November new Underwriters Laboratories UL hazardous locations HazLoc lab was officially opened at ULs global headquarters in Northbrook Illinois in June The automated state of the art facility will increase capacity for explosion and fire hazard testing and certification to address the growing demand in the oil and gas petrochemical pharmaceutical food mining energy and transportation industries according to a UL announcement Originally opened in 1974 this hazardous locations laboratory was one of the first and largest of its kind in North America and soon became a significant resource for hazardous locations testing and certification The expanded facility now includes An explosions area with automated test vessels that can handle samples up to 80 cubic feet vertical test stations with automated electrical testing and featuring a load bank that can simulate loads up to 4500 W spark test station with automated spark ignition and intrinsic safety testing that includes gas pressure spark ontime and gas flow rates to assist with research and circuit design ingress protection IP dust testing with three test points that can run simultaneously in a test chamber that can accommodate larger samples up to 5 cubic meters and nine chambers total including three walk in climatic chambers that perform thermal endurance testing to heat and cold conditioning with two of the chambers equipped with full length doors to accommodate larger equipment UL has also increased its laboratory staff with additional highly trained technicians versed in all protection methods to help accelerate projects through the testing and certification process A 8 Processing JULY 2019 Courtesy of UL UL opens expanded hazardous locations lab