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Rotary Gas Meter Market Size, Share, Industry Analysis, Segments And Forecast To 2033
Rotary Gas Meter Market Size
As per the report, 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 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%.
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Rising Natural Gas Demand Drives Expansion In The Rotary Gas Meter Market
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.
Recent Product Launches In The Rotary Gas Meter Market By Major Companies
Product innovation is a key trend gaining popularity in the rotary gas meter market. Major companies operating in the rotary gas meter market are developing innovative products to sustain their position in the market. For instance, in April 2022, Honeywell International Inc., a US-based engineering and technology company, launched its Elster RABO meters, which are a new size of rotary meters. It works based on a positive displacement rotary type principle. By displacing a predetermined volume of gas, the meter calculates volume. It combines the proven characteristics of the Elster and Instromet rotary meter lines. They have unique main features, such as high rangeability, low pressure drops, flexibility in station design, and differential pressure test ports. Additionally, it comes in a non-lubricated and non-resettable index and a high-impact-resistant, ultraviolet-stabilized index, providing better gas measurements.
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
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Major companies operating in the rotary gas meter market report are Honeywell International Inc., Flow Meter Group BV, General Electric Company, Kimpex Inc., Tormene Group SPA, Common SA, Pietro Fiorentini SPA, The Raychem Corporation, Dresser Utility Solutions, Veolia Water Solutions & Technologies SA, vemm tec Messtechnik GmbH, Romet Limited, Metreg Technologies Inc., Energoflow AG, Zenner International GmbH & Co., Sensus USA Inc., Emerson Electric Co., Itron Inc., Badger Meter Inc., ABB Ltd., Yokogawa Electric Corporation, Siemens AG, SICK AG, KROHNE Messtechnik GmbH, Azbil Corporation, Schneider Electric SE, AEM Co. Ltd., Brooks Instrument, Dandong Dongfang Measurement & Control Technology Co. Ltd., Diehl Metering GmbH, GWF MessSysteme AG, Hunan Yanheng Instrument Equipment Co. Ltd., IMAC Systems Inc., Landis+Gyr Group AG, Nikkiso Co. Ltd. .
Contents of the report:
1. Executive Summary
2. Rotary Gas Meter Market Report Structure
3. Rotary Gas Meter Market Trends And Strategies
4. Rotary Gas Meter Market - Macro Economic Scenario
5. Rotary Gas Meter Market Size And Growth
…..
27. Rotary Gas Meter Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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