Press release
Rotary Gas Meter Market Poised for 6 % Growth, Set to Hit $1.4 Billion by 2029
Rotary Gas Meter Market Outlook
The growing need for natural gas is projected to fuel the expansion of the rotary gas meter market. Rotary gas meters are commonly used in the natural gas industry to measure gas quantity and flow ranges, as natural gas predominantly contains methane and minor amounts of other higher alkanes. The recording of gas turndown and capacity measurements by these meters aids in technological quantification applications or prisoner transfers, further encouraging the market's growth. For example, the Energy Information Administration (EIA), a US government agency, reported in March 2023 that the average daily consumption of natural gas in the USA, in 2022, hit a record 88.5 billion cubic feet. This was 5 percent or 4.5 billion cubic feet per day (Bcf/d) higher than 2021, with 38 percent of the natural gas consumed by end-user sectors in the US in 2022. In addition, natural gas demand is projected to increase by 350 billion cubic meters (BCM) from 2020 to 2024. Thus, the growing demand for natural gas is spurring the onward progression of the rotary gas meter market.
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What is the future CAGR of the rotary gas meter market, and how will it impact industry expansion?
In the last few years, consistent growth has been noted in the market size of the rotary gas meter. It's expected to expand from $1.07 billion in 2024 to $1.13 billion in 2025, displaying a compound annual growth rate (CAGR) of 4.8%. Factors such as the influence of the industrial revolution, the escalation of urbanization and gas utility expansion, regulatory standards and accuracy, the development of utility infrastructure, and market competition and diversification have influenced this historic period of growth.
The market for rotary gas meters is predicted to significantly expand in the coming years, with its value reaching $1.4 billion in 2029 and a compound annual growth rate (CAGR) of 5.6%. This anticipated growth over the forecast period is due to increased industrial usage, energy efficiency needs, the shift towards using natural gas, strict environmental rules, and incorporating smart metering. In the forecast period, key trends such as digitalization and connectivity, energy management solutions, Internet of Things (IoT) and intelligent infrastructure, sustainability and conservation, and user-friendly interfaces are expected to become more prevalent.
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What are the most significant trends transforming the rotary gas meter market today?
Product innovation is increasingly becoming a vital trend in the rotary gas meter industry. Key players in this market are investing in the creation of novel products to bolster their market standing. One example is Honeywell International Inc., a U.S.-based technology and engineering firm, which debuted its new size of Elster RABO meters in April 2022. These rotary meters utilize a positive displacement rotary type principle to operate. They measure volume by indicating a set volume of gas. The cutting-edge meter integrates the established features of the Elster and Instromet rotary meter lines. Its unique main characteristics include high rangeability, low pressure drops, differential pressure test ports and adaptability in station design. Furthermore, it offers a non-resettable index that requires no lubrication and an index that resists high-impacts and UV rays, resulting in more precise gas measurements.
Which key market segments comprise the rotary gas meter market and drive its revenue growth?
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
Subsegments:
1) By Displacement Type: Positive Displacement Meters, Multi-Jet Displacement Meters
2) By High Pressure Type: High Pressure Rotary Meters, Compact High Pressure Meters
3) By Other Types: Electronic Rotary Meters, Smart Rotary Meters
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What regions are at the forefront of rotary gas meter market expansion?
Asia-Pacific was the largest region in the rotary gas meter market in 2024. The regions covered in the rotary gas meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the rotary gas meter market?
Major companies operating in the rotary gas meter market include Honeywell International Inc., Flow Meter Group BV, General Electric Company, Tormene Group SPA, Pietro Fiorentini SPA, Dresser Utility Solutions, 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, KROHNE Messtechnik GmbH, Azbil Corporation, AEM Co. Ltd., Dandong Dongfang Measurement & Control Technology Co. Ltd., Diehl Metering GmbH, GWF MessSysteme AG, Hunan Yanheng Instrument Equipment Co. Ltd., Landis+Gyr Group AG, Nikkiso Co. Ltd.
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What Is Covered In The Rotary Gas Meter Global Market Report?
• Market Size Forecast: Examine the rotary gas meter market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the rotary gas meter market for a structured understanding.
• Key Players Overview: Analyze major players in the rotary gas meter market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the rotary gas meter market.
• Segment Contributions: Evaluate how different segments drive overall growth in the rotary gas meter market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the rotary gas meter market.
• Industry Challenges: Identify potential risks and obstacles affecting the rotary gas meter market.
• Competitive Landscape: Review strategic developments in the rotary gas meter market, including expansions, agreements, and new product launches.
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