2022 will be a banner year for the flowmeter markets, suggests Jesse Yoder, PhD, Flow Research, USA.
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he past several years have been an anomaly for the flowmeter business for multiple reasons. The COVID-19 pandemic disrupted demand for the products flowmeters are used to measure. Flow Research recently completed a study of the worldwide flowmeter market, including all flowmeter types. Our goal was to determine the impact of the COVID-19 pandemic on the flowmeter market as a whole, and to find out which types of flowmeters were most impacted by the pandemic. We published our findings in a new study called ‘Volume X: The World Market for Flowmeters, 8th Edition’. The study was published in January 2022.
The markets in 2020 The year 2020 was in many ways an anomaly, and virtually no industrial, commercial, or retail segments were unaffected by the pandemic. Many businesses were forced to close, travel slowed to a trickle in many cases, and demand for many products simply dried up. This especially applied to the energy industry. Demand for gasoline and jet fuel plummeted, as people curtailed both driving and flying. Due to the prevalence of the pandemic, many people worked from home. This had its own impact on travel, as Zoom calls replaced many in-person meetings. For most of 2020, business as we know it was dramatically altered or ceased to exist. As we researched the flowmeter market, including all flowmeter types, we found that most, though not all, companies reported reduced revenues in 2020 when
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