Frequently Asked Questions
The Oil and Gas Custody Metering System Market was valued at USD 10.2 billion in 2022.
The Oil and Gas Custody, Metering System Market, is expected to grow at a CAGR of 6.50% between 2023 and 2030, reaching USD 15.85 billion in 2030.
Ultrasonic is the leading segment in flow meter types, holding a significant share in terms of value.
North American region is fuelling the growth of the Oil and Gas Custody Metering System Market, with a significant share in 2022.
The top players include 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.
The major market drivers are increasing emphasis on accurate measurement and accountability in the oil and gas industry and expansion of oil and gas exploration and production activities in new geographies and unconventional resources.
Complexity and high costs associated with system installation and maintenance are the major market restraints.
The increasing focus on digitalization and automation in the oil and gas industry offers a significant growth opportunity for The Oil and Gas Custody Metering System Market.
Coriolis, ultrasonic, vortex, thermal, differential pressure, and positive displacement are the flow meter types of the market.
Offshore segment is leading the market growth in terms of application.