Global Oil and Gas Custody Metering System Market was valued at US$ XX Bn. in 2019 and is expected to reach US$ XX Bn at a CAGR of 6.21% during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Oil and Gas Custody Metering System MarketGlobal Oil and Gas Custody Metering System Market Dynamics:
Custody transfer metering plays a significant role throughout the global oil and gas industry. It is a fiscal measurement system used to determine the financial value and quantity of a petroleum product.
The market for oil and gas custody metering systems is expected to grow significantly in the future, thanks to rising investments for the production of oil & gas to meet the demand for petroleum products. Technological development in the design of custody metering systems to increase operational efficiency is expected to drive the global oil and gas custody metering system market growth. Some of the major challenges faced by the key players such as the oil & gas industry needs reliable, accurate measurement to maximize profitability, performance, and, the safety of their applications.
Global Oil and Gas Custody Metering System Market Regional Insights:
North America's oil and gas custody metering system market is expected to grow at XX.86% CAGR to be valued at US$ XX.60 Mn. by 2027 owing to rising investments in production and exploration of shale gas. The presence of the leading market players in the USA like Emerson, ABB Ltd, and Honeywell International Inc. are expected to contribute XX% share in the North American Market. Furthermore, the Asia Pacific is anticipated to witness a substantial CAGR exceeding XX.07% from 2019 to 2027. The market in China and India ate estimated to witness significant growth over the forecast period thanks to continuous developments in the oil and gas industry.
As per the MMR research worldwide flowmeter market will grow almost US$ XX Bn. by 2027 as the oil and gas industry continues recovering. The growth factors related to the oil & gas industry, product improvements in traditional and new technology flow meters are contributing to the upward trend in the global market.
Global Oil and Gas Custody Metering System Market Segment Analysis:
By flow meter, the ultrasonic segment was valued at US$ XX.90 Mn. in 2019 and are expected to reach US$ XX.47 Mn. by the end of 2027, with a CAGR of XX.50% during the forecast period. Ultrasonic is one of the most widely used flow meters in the oil & gas custody metering system market thanks to their ability to increase reliability, decrease pressure drop, and improve accuracy.
The MMR reports cover key developments in the oil and gas custody metering system market as organic and inorganic growth strategies. Such as, Honeywell’sMeterSuite offers an off-the-shelf, configurable custody transfer solution. It is an integral part of the ExperionPKS (Process Knowledge System) and a replacement for commercial HMI and SCADA packages, embedded flow computer systems, and PLC systems.
The objective of the report is to present a comprehensive analysis of the Global Oil and Gas Custody Metering System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Oil and Gas Custody Metering System Market dynamics, structure by analyzing the market segments and projects the Global Oil and Gas Custody Metering System Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Oil and Gas Custody Metering System Market make the report investor’s guide.
Global Oil and Gas Custody Metering System Market Scope:
Global Oil and Gas Custody Metering System Market, By Flow Meter
• Coriolis
• Ultrasonic
• Vortex
• Thermal
• Differential Pressure
• Positive Displacement
• Others
Global Oil and Gas Custody Metering System Market, By Application
• Offshore
• Onshore
Global Oil and Gas Custody Metering System Market, By Region
• Asia Pacific
India
China
Japan
South Korea
Australia
Indonesia
Malaysia
Vietnam
Rest of APAC
• North America
U.S.
Canada
• Europe
U.K
Germany
France
Russia
Spain
Italy
Rest Of EU
• South America
Mexico
Brazil
Rest of South America
• Middle East & Africa
GCC
South Africa
Rest of MEA
Global Oil and Gas Custody Metering System Market Key Players:
• Emerson
• KROHNE Group
• Oil and Gas Systems International
• Endress+ Hauser Management AG
• ODS Metering Systems
• Schlumberger Limited
• Isystems
• KamehrSdn Bhd.
• Honeywell
• ENCE GmbH
• Siemens (Germany)
• ABB ltd.
• Yokogawa Electric (Japan)
• Azbil (Japan)
• Others
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