Wetgas Meter Market - Industry Size, Share, Growth & Forecast

Wetgas meters are used in various industries, such as oil and gas, chemical processing, and power generation. The market is expected to grow due to increasing demand for reliable measurement of wet gas in various applications and the need for accurate energy billing and regulatory compliance. Also, the market for wet gas meters is growing due to increasing demand for natural gas as a cleaner energy source and the growth of shale gas production. In addition, the market for wet gas meters is growing due to increased production and exploration of unconventional gas reserves, which often contain a high percentage of liquids.

The Wetgas Meter Market is expected to grow at a steady rate of around 7% during the forecast period (2022-2028) owing to the increasing demand for the measurement of partially separated gas and correcting the gas flow rate of the natural gas resources. Major companies in the market are focusing to provide wetgas meter market with technologically advanced features along with new product launches, collaboration, and mergers & acquisitions. For instance, in September 2020, Emerson launched a new flow meter to deliver accuracy and stability for the demanding hydrogen application and is suitable for mass flow measurement.

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According to UnivDatos Market Insights (UMI)’ research report “Global Wetgas Meter Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the growing demand for correcting the gas flow rate for natural gases coupled with the increasing energy demand.

Based on type, the market is bifurcated into stainless steel wet gas meters and brass wet gas meters. The stainless-steel wet gas meter segment is expected to witness significant market growth during the forecast period. A steel wet gas meter is a type of flow meter used to measure the flow rate of wet gases, such as natural gas, that contain liquid droplets. It typically consists of a steel body and a measuring chamber filled with a liquid, typically glycerin, which helps to reduce friction and stabilize the measurement. The movement of the gas through the meter results in a pressure drop that is proportional to the flow rate, which is then measured and recorded.

Based on the application, the market is segmented into municipal, chemical, oil & gas, industrial, and others. The oil & gas industry is expected to register a significant CAGR during the forecast period owing to the increasing demand for oil and gas around the world. Also, the wet gas flow technology evolved and was used in the fiscal production allocation along with the determination of the money transaction between the host government and operating companies. In addition, the increasing investment in the exploration of unconventional oil & gas resources as well as offshore exploration activities will increase the demand for the wet gas flow meter to obtain the optimized performance.

North America to witness extensive growth

For a better understanding of the market adoption of the wetgas meter industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America led the market in 2021 with the highest market share. This is mainly due to the increasing demand for energy and the increasing adoption of gas-based vehicles in the region. Also, the stringent government regulation for carbon emissions and focus to replace liquid-based vehicles with gas-based vehicles with technological advancement is expected to propel the market growth during the forecast period. Furthermore, the increasing offshore oil & gas drilling exploration coupled with the growing investment and increasing research & development along with the growing digitalization will support the market growth. Additionally, the development of the new oil & gas field such as the Keystone XL pipeline and the Cactus II Pipeline in Texas propel the wetgas meter market due to the requirement for the continuous monitoring of the liquid & gas flow rate & pressure to prevent unwanted machine failure.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the wetgas meter market are Dermaga Oil & Gas Sdn. Bhd., EMCO Controls A/S, Emerson Electric Co., EXPRO HOLDINGS UK 2 LIMITED, SLB, TechnipFMC plc, Weatherford, SEIL ENTERPRISE CO., FORCE TECHNOLOGY, and KROHNE.

“Global Wetgas Meter Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

Market Segmentation:

1. By Type (Stainless Steel Wet Gas Meters and Brass Wet Gas Meters)

2. By Application (Municipal, Chemical, Oil & Gas, Industrial, and Others)

3. By Region (North America, Europe, Asia-Pacific, Rest of the World)

4. By Company (Dermaga Oil & Gas Sdn. Bhd., EMCO Controls A/S, Emerson Electric Co., EXPRO HOLDINGS UK 2 LIMITED, SLB, TechnipFMC plc, Weatherford, SEIL ENTERPRISE CO., FORCE TECHNOLOGY, and KROHNE)

Key questions answered in the study:

1. What are the current and future trends of the global wetgas meter industry?

2. How the industry has been evolving in terms of type and application?

3. How the competition has been shaping across the countries followed by their comparative factorial indexing?

4. What are the key growth drivers and challenges for the global wetgas meter industry?

5. What is the customer orientation, purchase behavior, and expectations from the global wetgas meter suppliers across various region and countries?