Summary

Global Wetgas Meter Market is expected to grow at a significant rate of around 7% during the forecast period. 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.

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 are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst type, stainless-steel wet gas meter category to witness higher CAGR during the forecast period”
Based on type, the market is segmented 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. The flow rate of wet gases, such as natural gas, which contain liquid droplets, is measured by a steel wet gas meter. It usually has a steel body and a measuring chamber with liquid—usually glycerin—in it to reduce friction and steady 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.

“Amongst application, the oil & gas to hold a significant CAGR in the market in 2020.”
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 hold a significant share in the market”
In 2020, North America held a significant share of the global wetgas meter market. This is mainly due to the increasing demand for energy and the increasing adoption of gas-based vehicles in the region. Additionally, the focus on replacing liquid-based vehicles with gas-based vehicles and the strict government regulations for carbon emissions are expected to drive market expansion during the projection period. Additionally, the market expansion will be supported by rising offshore oil and gas drilling exploration, rising investment, rising research and development, and rising digitization. Also, the presence of several leading players in the region and the increasing exploration of shale gas opens lucrative opportunities for investment in the continent. For instance, as per World Energy Council, the US has 1161 trillion cubic feet of recoverable unconventional gas which is the higher in the world. In addition, technological advancements such as the integration of the IoT, AI, and the requirement of horizontal drilling for optimized output are propelling the wetgas meter market.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global wetgas meter market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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