PUBLISHER: The Business Research Company | PRODUCT CODE: 1694654
PUBLISHER: The Business Research Company | PRODUCT CODE: 1694654
Oil and gas measuring instrumentation refers to devices and systems utilized to monitor, quantify, and analyze various parameters such as flow rate, pressure, temperature, and composition in the extraction, processing, and transportation of oil and gas. These instruments ensure operational efficiency, safety, and regulatory compliance by providing accurate and real-time data.
The primary types of oil and gas measuring instrumentation include stationary measuring instrumentation, portable measuring instrumentation, and others. Stationary measuring instrumentation comprises tools or devices that are fixed in place and used to measure various parameters within a process, typically in industrial settings. They are employed for various processes such as upstream, midstream, and downstream processes in the oil and gas industry and other related applications.
The oil and gas measuring instrumentation market research report is one of a series of new reports from The Business Research Company that provides oil and gas measuring instrumentation market statistics, including oil and gas measuring instrumentation industry global market size, regional shares, competitors with a oil and gas measuring instrumentation market share, detailed oil and gas measuring instrumentation market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas measuring instrumentation industry. This oil and gas measuring instrumentation 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 oil and gas measuring instrumentation market size has grown strongly in recent years. It will grow from $21.87 billion in 2024 to $23.09 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increasing demand of oil and gas, increasing demand for petroleum products, various regulations on the environment, increasing exploration and extraction of shale gas, upgradation of aged oil platforms.
The oil and gas measuring instrumentation market size is expected to see steady growth in the next few years. It will grow to $27.31 billion in 2029 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to rapid industrialization, increasing offshore and deepwater activities, growing focus on reducing maintenance costs, increasing demand for portable gas measuring instruments, increasing oil production. Major trends in the forecast period include advancements in exploration and production techniques, advancements in artificial intelligence (ai) and machine learning (ml), advancements in drilling technologies, advanced analytics, integration of wireless and remote monitoring technologies.
The oil and gas measuring instrumentation market is expected to experience growth due to the increasing oil and gas exploration activities. Oil and gas exploration involves identifying potential drilling sites using methods such as seismic and magnetometric prospecting to discover new oil and gas reserves. Measuring instruments play a crucial role in these activities by providing accurate data on reservoir characteristics, which helps optimize extraction processes. For example, in February 2024, World Oil reported that U.S. crude production hit a record 12.93 million barrels per day in 2023, marking an 8.8% rise from 2022. This growth was largely driven by the completion of a backlog of drilled but uncompleted wells (DUCs) in key shale regions. As a result, the growing oil and gas exploration activities are fueling the demand for oil and gas measuring instruments.
Leading companies in the oil and gas measuring instrumentation market are introducing innovative instruments, such as methane point instruments, to expand their product offerings and enhance market competitiveness. The methane point instrument is a self-installed methane monitoring system specifically designed for the oil and gas sector, equipped with IoT sensors for precise detection and quantification of emissions. For example, Schlumberger NV, an oilfield services company based in the US, launched the methane point instrument in October 2023. This instrument boasts unparalleled leak detection sensitivity, compactness, robustness, and 'plug-and-play' functionality, complemented by features such as a built-in solar panel, wind measurement capabilities, and methane sensing. It offers easy deployment across various infrastructures at minimal cost and supports reporting requirements such as those of the oil and gas methane partnership 2.0 (OGMP) and proposed US EPA rules for methane.
In November 2023, Process Sensing Technologies Ltd., a manufacturer of monitoring instruments based in England, acquired Fluid Components LLC, an instrumentation company based in the US, including measuring instruments used in the oil and gas industry. Through this acquisition, Process Sensing Technologies aims to diversify its product portfolio and enhance measurement capabilities, particularly in flow measurement, by leveraging Fluid Components International's renowned performance, quality, and customer service.
Major companies operating in the oil and gas measuring instrumentation market are Siemens AG, General Electric Company, Honeywell International Inc., Danaher Corporation, ABB Ltd., Schlumberger NV, Emerson Electric Co., Sika AG, Agilent Technologies Inc., Ametek Inc., Yokogawa Electric Corporation, Endress+Hauser Group AG, Krohne Messtechnik GmbH, Oxford Instruments PLC, Process Sensing Technologies Ltd., Berthold Technologies GmbH & Co.KG, WIKA Alexander Wiegand SE & Co. KG, TEGAM Inc., Noshok Inc., ABLE Instruments & Controls Ltd., Chandler Instruments Company LLC, Control Instruments Corp., NORIS Group GmbH, Nova Analytical Systems, Bourdon Instruments
North America was the largest region in the oil and gas measuring instrumentation market in 2024. The regions covered in the oil and gas measuring instrumentation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the oil and gas measuring instrumentation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The oil and gas measuring instrumentation market consists of sales of flow meters, pressure gauges, temperature sensors, gas detectors, sampling systems, analyzers, control valves, level gauges, and transmitters. 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.
Oil And Gas Measuring Instrumentation Global Market Report 2025 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 oil and gas measuring instrumentation 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 oil and gas measuring instrumentation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The oil and gas measuring instrumentation 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.