Latest News - Wetgas Meters Market: Onshore is expected to lead the Application segment during 2025-2029

The Wetgas Meters Market is being driven by Shifting focus of oil and gas E and P activities to unconventional sources

The Wetgas Meters Market is expected to grow at a CAGR of 6.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 739.4 million. The global LNG market has undergone significant transformation, with an increasing number of new projects commencing worldwide due to the expanding supply side. The significance of natural gas as a fuel in the international energy landscape has led to the LNG trade assuming a pivotal role. In North America, the Federal Energy Regulatory Commission (FERC) has approved the construction of nine LNG terminals, both for import and export. Asia, particularly China, India, and other Asian nations, are driving the demand for LNG, propelling the market for liquefied natural gas to expand at a faster rate than coal or oil. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Onshore
  • Offshore
• Type
  • Industrial
  • Commercial
  • Residential
• Material
  • Stainless steel
  • Brass
• Product Type
  • Natural gas
  • Liquefied petroleum gas (LPG)
  • Biogas
• Geography
  • Europe
    • France
    • Germany
    • Italy
    • Russia
  • North America
    • US
    • Canada
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Shifting focus of oil and gas E and P activities to unconventional sources
• Growth in global coalbed methane production
• Favorable government support for gas utilities

However, the market also witnesses some limitations, which are as follows:

• Uncertainties associated with low crude oil and gas prices
• Increase in demand for renewable energy
• Environmental risks associated with oil and gas extraction

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Market Scope in Wetgas Meters Market Research Report

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Research Analysis Overview

The Wetgas meters market encompasses the use of specialized meters for measuring the flow rates and volumes of natural gas mixtures, including liquids, in various applications such as oil and gas production, chemical processing, power generation, and energy billing. These meters are essential for unconventional gas reserves like shale gas and are particularly useful in handling the liquid droplets present in these gases. Wetgas meters find applications in municipal services, pharmaceuticals, well testing, and transportation. Advanced sensor technologies, digital connectivity options, smart technologies, and IIoT solutions are driving the market's growth in industrialization.

Market Research Overview

The global oil and gas equipment and services market encompasses businesses involved in the manufacturing of oil and gas exploration and production (E&P) equipment, provision of related services, or supply of necessary components. This sector plays a pivotal role in catering to the requirements of the upstream oil and gas industry. According to Technavio's market analysis, the global oil and gas equipment and services market is projected to expand at a steady rate, driven by the escalating energy demand and the robust growth in the power generation sector. This growth is expected to significantly increase the demand for drilling equipment, thereby propelling the expansion of the global oil and gas equipment and services market. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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