Wetgas Meters Market size is set to grow by USD 617.01 million from 2022 to 2027 | Shifting the focus of oil and gas E&P activities to unconventional sources drives the market - Technavio

NEW YORK, Sept. 4, 2023 /PRNewswire/ -- The wetgas meters market size is set to grow by USD 617.01 million from 2022 to 2027 and register a CAGR of 5.75%, according to Technavio's latest market research report estimates. Shifting focus of oil and gas E&P activities to unconventional sources is notably driving the market growth. As oil companies progressively transition their operations towards unconventional sources like tight oil, shale oil, shale gas, and CBM, the oil industry is seeking advanced on-site processing equipment to enhance their return on investment (ROI). Heavy oil, characterized by its high viscosity and density, is primarily located in 192 basins worldwide. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

Wetgas Meters Market 2023-2027: Segmentation

• Application 
• Onshore
• Offshore
• Type 
• Stainless Steel
• Brass
• Geography 
• Europe
• North America
• APAC
• Middle East And Africa
• South America

The market share growth by the onshore application segment will be significant during the forecast period. The onshore segment of the market encompasses the wet gas meter market, which is observing growth driven by the escalation of onshore oil and gas development endeavours and a rising count of refineries. Over the course of more than a century, onshore upstream oil and gas exploration and production activities have been continually advancing to amplify the production of oil and gas resources. On a global scale, the concentration of onshore oil and gas development operations is notable in regions such as the United States, Canada, Russia, and several Middle Eastern nations. Noteworthy investments in upstream oil and gas initiatives are being made by countries like Russia, the United States, Saudi Arabia, and Mexico. However, the challenge of global oil price fluctuations has emerged as a substantial hurdle, constraining the progression of both conventional and unconventional oil and gas projects.

Wetgas Meters Market 2023-2027: Company Analysis and Scope

Some of the major vendors of the wetgas meters market include Apex Instruments Inc., CX Instrument, Dermaga Oil and Gas Sdn. Bhd., DP Diagnostics LLC, Dr.Ing. RITTER Apparatebau GmbH and Co. KG, EMCO Controls AS, Emerson Electric Co., Haimo Technologies Group Corp., Instrumentation and Scientific Instruments Pvt. Ltd., Iwatani Corp., KROHNE Messtechnik GmbH, RMG Messtechnik GmbH, ROSEN Swiss AG, SEIL ENTERPRISE Co., SGS Lab Instruments, Shinagawa Co. Ltd., Tek-Trol LLC, THIOKA Enterprise Co. Ltd., Vinci Technologies, and Weatherford International Plc. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market.

Company Offerings 

• Apex Instruments Inc. - The company offers wetgas meters such as W-NK wet gas meter. 
• DP Diagnostics LLC - The company offers wetgas meters such as DP wet gas meter. 
• RITTER Apparatebau GmbH and Co - The company offers wetgas meters such as RITTER TG series drum-type gas meters.

Market Dynamics 

Trend

An increase in global LNG trade is an emerging market trend. LNG trading has undergone significant transformations in recent times, marked by dynamic shifts in both supply and demand. On the supply front, the industry is witnessing expansion through the initiation of new projects on a global scale. The prominence of LNG trade is amplified by the advantages of natural gas as a pivotal component of the global energy mix. Notably, the growth of the liquefied natural gas market in these regions surpasses that of coal and oil. Beyond Asia, significant LNG exporting nations include North America, Australia, the Middle East, Africa, and Russia. Key importing countries span parts of Asia, Europe, and South America. Notably, LNG is experiencing a growth rate seven times higher than that of pipeline gas trade and is anticipated to contribute to roughly half of the total global gas trade by the year 2035. Such dynamics are poised to fuel the expansion of the market throughout the forecast period.

Wetgas Meters Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist wetgas meters market growth during the next five years
• Estimation of the wetgas meters market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the wetgas meters market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of wetgas meters market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:
The global smart gas meters market size is estimated to decline at a CAGR of 7.64% between 2022 and 2027. The size of the market is forecast to increase by USD 2,051.13 million. This report extensively covers market segmentation by technology (AMR and AMI), component (hardware and software), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The ability of smart gas meters to enable efficient use of gas is notably driving smart gas meters market growth.  

The Global Indoor Air Quality Meters Market size is estimated to grow by USD 2,015.26 million between 2022 and 2027 accelerating at a CAGR of 8.5%. This indoor air quality meters market research report extensively covers market segmentation by Product (fixed and portable), End-user (government, commercial and residential, energy and pharmaceuticals, and others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The global indoor air quality meters market is witnessing growth due to the increase in government regulations and initiatives related to indoor air quality.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio