Global Rotary Gas Meter Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

The rotary gas meter refers to a positive displacement meter intended for use in applications involving the custodial transfer of gas. The highest standards for accurate and reliable gas flow measurement are met by this device, which is mainly applied to gas flow ranges, and it handles higher pressures than diaphragm meters.

Sizing and Forecast

The rotary gas meter market size has grown strongly in recent years. It will grow from $1.03 billion in 2023 to $1.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to industrial revolution impact, urbanization and gas utility expansion, regulatory standards and accuracy, utility infrastructure development, market competition and diversification. .

The rotary gas meter market size is expected to see strong growth in the next few years. It will grow to $1.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to rise in industrial usage, demand for energy efficiency, energy transition to natural gas, environmental regulations, smart metering integration.. Major trends in the forecast period include digitization and connectivity, energy management solutions, iot and smart infrastructure, sustainability and conservation, user-friendly interfaces..

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Segmentation & Regional Insights

The rotary gas meter market covered in this report is segmented –

1) By Type: Displacement Type, High Pressure Type, Other Types
2) By Technology: Standard Gas Meters, Smart Gas Meters
3) By Application: Natural Gas Industry, Industrial Gas Industry, Other Applications

Asia-Pacific was the largest region in the rotary gas meter market in 2023. The regions covered in the rotary gas meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increasing demand for natural gas is expected to propel the growth of the rotary gas meter market going forward. Natural gas is a naturally occurring mixture of gaseous hydrocarbons that mostly consists of methane with minor amounts of other higher alkanes. To measure the quantity of gas and gas flow ranges, rotary gas meters are mostly utilized in the natural gas industry. These meters may be used to record gas turndown and capacity measurements, which are useful for technological quantification applications or prisoner transfers, so these factors will boost the rotary gas meter market. For instance, in March 2023, according to a report shared by the Energy Information Administration (EIA), a US-based government agency, natural gas consumption in the USA averaged a record 88.5 billion cubic feet per day in 2022. In comparison to 2021, natural gas usage grew by 5 percent to 4.5 billion cubic feet per day (Bcf/d), and US end-user sectors consumed 38 percent of natural gas in 2022. Moreover, demand for natural gas is anticipated to increase by 350 billion cubic meters (BCM) between 2020 and 2024. Therefore, the increasing demand for natural gas is driving the growth of the rotary gas meter market going forward.

Key Industry Players

Major companies operating in the rotary gas meter market are focused on developing innovations, such as themis evo platform, to gain a competitive edge in the market. The themis EVO platform is a modular platform for developing gas meters, designed to be flexible, scalable, and future-proof. For instance, in November 2023, Honeywell International Inc., a US-based engineering and technology company, launched an EI5 smart gas meter. The EI5 is the world’s first 100% hydrogen-capable diaphragm gas meter designed to be accurate, reliable, and future-proof, as it can be used with both natural gas and hydrogen. The EI5 can be equipped with a variety of communication options, including wireless M-Bus, Wi-Fi, and cellular. The EI5 is equipped with several security features to protect against unauthorized access and is designed to withstand the corrosive properties of hydrogen.

The rotary gas meter market report table of contents includes:

1. Executive Summary

2. Rotary Gas Meter Market Characteristics

3. Rotary Gas Meter Market Trends And Strategies

4. Rotary Gas Meter Market – Macro Economic Scenario

5. Global Rotary Gas Meter Market Size and Growth

….

31. Global Rotary Gas Meter Market Competitive Benchmarking

32. Global Rotary Gas Meter Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Rotary Gas Meter Market

34. Rotary Gas Meter Market Future Outlook and Potential Analysis

 

35. Appendix

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