Rotary Gas Meter Global Market Report 2023

(MENAFN- GlobeNewsWire - Nasdaq) New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rotary Gas Meter Global Market Report 2023" -
The global rotary gas meter market is expected to grow from $0.98 billion in 2022 to $1.03 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The rotary gas meter market is expected to reach $1.25 billion in 2027 at a CAGR of 4.9%.
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 rotary gas meter refers to a positive displacement meter intended for use in applications involving the custodial transfer of gas. The highest standards for accurate and reliable gas flow measurement are met by this device, which is mainly applied to gas flow ranges, and it handles higher pressures than diaphragm meters.
Asia-Pacific was the largest region in the rotary gas meter market in 2022. The regions covered in the rotary gas meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of rotary gas meters are displacement type, high pressure type, and other types.Displacement-type rotary gas meters refer to the type of gas rotary component that measures the volume of gas going through the meter by counting the number of times the cycle happens as it alternately fills and empties spinning compartments of known sizes.
It comprises various technologies such as standard gas meters and smart gas meters. It is used in several applications, including the natural gas industry, the industrial gas industry, and others.
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.
In order 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.
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 on the basis of 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 drop, 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.
In February 2022, Dresser Utility Solutions., a US-based company that is a provider of metering, electronics, instrumentation, flow control, and distribution repair products, acquired Itron Inc. for an undisclosed amount. Through this acquisition, Dresser Utility Solutions intends to provide clients with greater service by expanding its global presence and delivering a wider range of products. Itron Inc. is a US-based technology and services company that provides gas meters and rotary meters.
The countries covered in the rotary gas meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The rotary gas meter market research report is one of a series of new reports 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.
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