About Wetgas Meters
Wetgas is defined as the gas that is having a small amount of liquid present in it. The main purpose of using wetgas meters is to find out the right amount of gas flowing rather than liquid. However, this also depends on the monetary value of the type of liquid such as gas condensate present in the overall flow.
Technavio’s analysts forecast the global wetgas meters market to grow at a CAGR of 3.83% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global wetgas meters market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Wetgas Meters Market 2017-2021
Technavio recognizes the following companies as the key players in the global wetgas meters market: AMETEK, Emerson, KROHNE Group, SEIL ENTERPRISE, and TechnipFMC.
Other Prominent Vendors in the market are: Dermaga Oil & Gas, DP Diagnostics, EMCO Controls, Expro, FORCE TECHNOLOGY, Haimo Technologies, Indian Devices & Engineering, Litre Meter, Raychem RPG, ROSEN Group, Schlumberger, Shanghai Cixi Instrument, Shinagawa, and Weatherford.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in LNG trade. LNG trade experienced a dynamic change over the past few years. The supply side has ramped up with projects spanning across the globe, from the US to Australia, and the new-found markets. Owing to the advantages of natural gas as a fuel in the global energy mix, it has becoming increasingly important for governments, consumers, and businesses to meet up to LNG trade.”
According to the report, one of the major drivers for this market is Movement of oil and gas E&P activities to unconventional sources. Oil companies are managing operations of unconventional oil and gas resources such as tight oil, shale oil, shale gas, and CBM. For these unconventional resources, the oil industry needs advanced on-site processing equipment to increase ROI. Heavy oils are oils that have high viscosity and high density. Heavy oils are being distributed among 192 basins across the globe. In upstream unconventional oil and gas operations, wetgas meters are used for the continuous measurement of oil, gas, and water without phase separation from the initial hydrocarbon stream that is produced from a hydrocarbon well.
Further, the report states that one of the major factors hindering the growth of this market is Uncertainties associated with low crude oil prices. Crude oil prices have witnessed several highs and lows in the recent past. The crude oil price cycle has not exhibited a consistent trend over the past few years. Also, the correct estimation of the highs and lows in crude oil prices is not the one that can easily be predicted. Recently, crude oil prices crashed from over $100/bbl in mid-2014 to around $50/bbl in December 2016. This showcases the volatile nature of the global crude oil market.
AMETEK, Emerson, KROHNE Group, SEIL ENTERPRISE, TechnipFMC, Dermaga Oil & Gas, DP Diagnostics, EMCO Controls, Expro, FORCE TECHNOLOGY, Haimo Technologies, Indian Devices & Engineering, Litre Meter, Raychem RPG, ROSEN Group, Schlumberger, Shanghai Cixi Instrument, Shinagawa, and Weatherford.
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