Natural Gas Flow Meter Market Size, Share, Opportunities And Trends By Gas Type (Methane, Ethane, Propane, Butane), By Meter Type (Mass Flow Meter, Velocity Meters, Differential Pressure Meter, Positive Displacement Meter, Others), By Form (Piped Natural Gas, Compressed Natural Gas), By End-user (Mining, Oil & Natural Gas, Power & Energy, Others), And By Geography - Forecasts From 2023 To 2028

The natural gas flow meter market is projected to show steady growth during the forecast period.

A device that monitors gas flow by volume or mass is a natural gas flow meter, which is commonly also referred to as a natural gas flow monitor. These natural gas flow meters are used in a wide range of sectors to measure gas flow in natural gas pipelines, compressed air lines, and manufacturers’ gas lines, and as the usage of these gases increases the market for the natural gas flow meter also rises. According to the US Energy Information Administration (EIA), in 2022, natural gas usage in the United States increased by 3.7%. Because of its affordability, natural gas is becoming a more common fuel source for houses and cars. According to the US Energy Information Administration (EIA) in February 2023, the amount of natural gas used to generate electricity increased by 5.5% (1.6 Bcf/d) week over week in the US. The consumption of the residential and commercial sectors grew by 4.7% (1.6 Bcf/d), while industrial sector consumption remained constant at 24.1 Bcf/d on average. These factors of demand and usage of natural gas will boost the market growth of natural gas flow meters.

The increasing government initiatives will boost the natural gas flow meter market.

The rising initiatives for the setting up of natural gas and biogas plants by the governments of different countries for proper supply and curbing the demand for natural gas for household and industrial use will boost the market for natural gas flow meters. According to the Ministry of Petroleum and Natural Gas, in October 2022, the biggest compressed biogas (CBG) facility in Asia was officially opened by Union Minister of Petroleum & Natural Gas Hardeep Singh Puri in Lehragaga, Sangrur, Punjab, India. In September 2021, the 8.04-billion-yuan ($1.24 billion) ethane-fed ethylene project was started in China by PetroChina, the largest oil and gas producer in Asia. The ethane for the project will be separated from the natural gas generated. In April 2022, GAIL said that over the next five years, its joint venture business Bengal Gas Co. and Hindustan Petroleum Corporation Ltd. intend to invest more than INR 17,000 in several CNG projects in West Bengal. These recent developments and government initiatives to set up projects in natural gas will boost the market for natural gas flow meters.

The rising demand for ethane will boost the natural gas flow meter market growth

The paraffin series' colorless, odourless, gaseous hydrocarbon known as ethane rising demand and consumption is expected to drive the natural gas flow meter market. Ethane is a type of natural gas that is in huge demand because ethylene crackers, which utilize ethane as a feedstock in the petrochemical sector, have made the demand for ethane gradually rise. According to EIA, the demand for ethane in the United States is expected to rise by almost 9% in 2022, or roughly 0.2 million barrels per day (b/d). Ethane exports from the United States increased to 447,000 b/d in 2022 from 369,000 b/d in 2021 and 271,000 b/d in 2020, according to the same source, as more countries were able to use ethane as a petrochemical feedstock.. As ethane use and demand increase globally, the need for natural gas flow meters will rise as new facilities and pipelines have to be built, which will boost the natural gas flow meters market growth.

During the forecast period, the Asia-pacific region is expected to dominate the market growth

Rising energy demand is propelling natural gas flow meters in the Asia-Pacific region, as the majority of the leading firms in the flow meter market have manufacturing facilities in this region due to lower production costs than in other areas, as well as increased demand for natural gas. In 2021, according to the International Energy Agency (IEA), one of the emerging markets for natural gas is the Asia-Pacific region, the region's natural gas usage increased by 5.9% from 2020, when it was over 867 billion cubic meters, to nearly 918 billion cubic meters in 2021. Certain market leaders in this region are also driving the demand for natural gas flow meters by investing in natural gas production. For instance, in March 2022 China Petroleum & Chemical Company, Sinopec announced plans to invest around CNY 81.5 billion in upstream exploitation, focusing on the natural gas resources in Sichuan province and the Inner Mongolia area as well as the crude oil bases in the Shunbei and Tahe fields, as in 2022, the fields intend to produce 12,567 billion cubic feet of natural gas and 281.2 million barrels of crude oil, respectively. Natural gas flow meter instruments are driven by rising refining, chemical, and industrial infrastructure operations in developing nations like India, and Southeast Asia which are experiencing quick urbanization and industrial growth. According to the International Energy Agency (IEA), between 2019 and 2030, it is predicted that India's energy demand will rise by about 35%, and during the next 20 years, India's urban population is expected to grow by another 270 million people. This showcases that the requirement for natural gas flowmeters will rise in the Asia pacific region as the energy demand is increasing with investing market leaders which will propel the market growth.

Market Key Developments.

• In June 2022, Sensirion launched its mass flow controller line with the SFC5500. The high-performance mass flow controllers and meters are calibrated for numerous gases. The four flow ranges for these pressure-resistant mass flow meters are 50 cm, 0.5 SLM, 2 slm, and 10 slm.

Natural Gas Flow Meter Market Scope:

Segmentation

• By Gas Type
  • Methane
  • Ethane
  • Propane
  • Butane
• By Meter Type
  • Mass Flow Meter
  • Velocity Meters
  • Differential Pressure Meter
  • Positive Displacement Meter
  • Others
• By Form
  • Piped Natural Gas
  • Compressed Natural Gas
• By End-user
  • Mining
  • Oil & Natural Gas
  • Power & Energy
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    •  Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Suadi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Others