PUBLISHER: The Business Research Company | PRODUCT CODE: 1409776
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409776
“Rotary Gas Meter Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on rotary gas meter market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for rotary gas meter? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The rotary gas meter market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A rotary gas meter is a positive displacement meter designed for applications involving the custody transfer of gas. This device meets the highest standards for accurate and reliable gas flow measurement, particularly in gas flow ranges, and it is capable of handling higher pressures compared to diaphragm meters.
The primary types of rotary gas meters include displacement type, high-pressure type, and other variations. Displacement-type rotary gas meters involve a gas rotary component that measures the volume of gas flowing through the meter by counting the number of times the cycle occurs as it alternately fills and empties spinning compartments of known sizes. This category encompasses various technologies such as standard gas meters and smart gas meters. Rotary gas meters find applications in diverse industries, including the natural gas industry, industrial gas sector, and others.
The rotary gas meter market research report is one of a series of new reports from The Business Research Company that provides rotary gas meter market statistics, including rotary gas meter industry global market size, regional shares, competitors with a rotary gas meter market share, detailed rotary gas meter market segments, market trends and opportunities, and any further data you may need to thrive in the rotary gas meter industry. This rotary gas meter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion observed in the historical period can be attributed to the impact of the industrial revolution, urbanization, and the expansion of gas utilities. Regulatory standards and the emphasis on accuracy, along with the development of utility infrastructure, played significant roles. Additionally, market competition and the drive for diversification were key factors influencing growth during this period.
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 anticipated growth in the forecast period can be attributed to the increase in industrial usage, the demand for energy efficiency, the transition to natural gas in the energy sector, adherence to environmental regulations, and the integration of smart metering technologies. Major trends expected during the forecast period encompass digitization and connectivity, the adoption of energy management solutions, the utilization of IoT (Internet of Things) and smart infrastructure, a focus on sustainability and conservation, and the implementation of user-friendly interfaces.
The anticipated rise in natural gas demand is set to drive the growth of the rotary gas meter market in the future. Natural gas, a naturally occurring mixture of gaseous hydrocarbons, is predominantly composed of methane. Rotary gas meters play a pivotal role in the natural gas industry by measuring gas quantity and flow ranges. These meters are crucial for technological quantification applications and prisoner transfers, contributing to the anticipated growth of the rotary gas meter market. Notably, in March 2023, the Energy Information Administration (EIA) reported a record average natural gas consumption of 88.5 billion cubic feet per day in the USA in 2022, indicating a 5% increase from the previous year. The end-user sectors in the US consumed 38% of natural gas in 2022, and a further surge in demand is projected, reaching 350 billion cubic meters (BCM) between 2020 and 2024. Hence, the escalating demand for natural gas is a key driver propelling the rotary gas meter market.
The growing environmental awareness is expected to contribute to the expansion of the rotary gas meter market. Environmental awareness entails recognizing the environment as a finite resource that requires protection and conservation. Rotary gas meters play a vital role in this context by accurately measuring natural gas consumption, aiding in monitoring and reducing greenhouse gas emissions. As per a survey by Mastercard Inc. in April 2021, 85% of adults across 24 countries expressed willingness to take action against environmental and sustainability challenges, with 58% being mindful of their environmental impact. This heightened environmental awareness is playing a significant role in driving the growth of the rotary gas meter market.
Product innovation emerges as a prominent trend gaining traction in the rotary gas meter market. Major companies within the industry are committed to developing innovative products to maintain a competitive edge. Notably, in April 2022, Honeywell International Inc. launched the Elster RABO meters, representing a new size of rotary meters based on a positive displacement rotary principle. These meters boast high rangeability, low pressure drops, flexibility in station design, and unique features such as a non-lubricated, non-resettable index and a high-impact-resistant, ultraviolet-stabilized index, contributing to improved gas measurements.
Major players in the rotary gas meter market are strategically focusing on developing innovations such as the themis EVO platform to enhance their market position. The themis EVO platform is a modular platform designed for gas meter development, characterized by flexibility, scalability, and future-proof capabilities. For instance, in November 2023, Honeywell International Inc. introduced the EI5 smart gas meter, recognized as the world's first 100% hydrogen-capable diaphragm gas meter. It is designed to be accurate, reliable, and versatile, catering to both natural gas and hydrogen applications. Equipped with various communication options, including wireless M-Bus, Wi-Fi, and cellular, the EI5 prioritizes security features to prevent unauthorized access and withstands the corrosive properties of hydrogen.
In February 2022, Dresser Utility Solutions acquired Itron Inc. This acquisition positions Dresser Utility Solutions to broaden its global presence and offer an expanded range of products, as Itron Inc. is a technology and services company specializing in gas meters and rotary meters.
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
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
The countries covered in the rotary gas meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The rotary gas meter market consists of sales of rotary positive displacement (RPD) gas meters, RCDL nutating disc meters, and microflow meters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.