Global Oil and Gas Custody Metering System Market 2025 – 2034

Reports Description

Global Oil and Gas Custody Metering System Market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 6.98% over the forecast period. The market was valued at USD 12.9 Billion in 2025 and is expected to reach USD 16.85 Billion in 2034.

Oil and Gas Custody Metering System Market Overview

There are several factors that are driving the growth of the Oil and Gas Custody, Metering System Market. These factors include the growing importance of precise measurement and accountability in the oil and gas sector, as well as the expansion of oil and gas exploration and production activities in new geographical areas and unconventional resources.

On the other hand, the market is confronted with substantial hurdles, such as the complexity of the system and the high costs associated with its installation and maintenance.

In spite of this, the market for oil and gas custody metering systems presents a substantial number of prospects for expansion. The oil and gas sector is placing a significant emphasis on digitization and automation.

When we discuss the market for oil and gas custody metering systems, we are referring to the market for systems that are utilized in the oil and gas industry to precisely measure and monitor the quantity and quality of hydrocarbon products as they are being transferred among custody.

The transfer of ownership of hydrocarbon products from one party to another is referred to as a custody transfer. This type of transfer often takes place between petroleum and natural gas producers, pipeline operators, storage facilities, and purchasers.

When it comes to assuring openness, precision, and fairness in the process of measuring oil and gas volumes for commercial transactions, custody metering systems are absolutely an essential component.  The flow meters, analyzers, sampling systems, pressure and temperature sensors, control systems, and data management software are all included in these systems.

Flow rates, pressure, temperature, density, and the composition of hydrocarbon products are some of the characteristics that may be measured with these instruments.

The market for oil and gas custody metering systems includes the processes of creating, producing, installing, and maintaining these systems after they have been installed.  It involves a wide range of players, such as companies that supply technology, engineering, and construction services, corporations that produce oil and gas, transportation companies, regulatory authorities, and end-users like refineries, petrochemical plants, and power generation facilities.

Oil and Gas Custody Metering System Market Growth Factors

• One of the most important factors that are driving the global market for oil and gas custody metering systems is the growing demand for natural gas from end-use industries like the automobile, chemical, and power plant industries due to the friendly characteristics that natural gas possesses toward the environment.

• This particular metering system is utilized as a billing meter to determine the quantity of gas that is consumed by commercial and industrial enterprises. A further factor that is anticipated to contribute to the expansion of the market is the growing utilization of natural gas in the residential sector as a domestic fuel for cooking.

• During the period of forecasting, it is predicted that the global market for oil and gas custody metering systems will be driven by an increase in investments in the production of oil and gas to satisfy the demand for petroleum products. The custody metering system is used to determine the amount of hydrocarbons generated at the well site in the form of oil and gas.

• To increase operational efficiency, technological advancements in the design of custody metering systems will be the driving force behind the global market for oil and gas custody metering systems being developed. Nevertheless, it is projected that the global market will be hindered during the forecast period due to the volatile price of fossil fuels as well as the high cost involved with exploration and production activity.

Oil and Gas Custody Metering System Market Trends

The oil and gas business is placing a greater emphasis on the importance of accurate measurement and accountability today.

When it comes to evaluating the quantity and quality of oil and gas that is being transferred between parties during custody transfer, custody metering devices are absolutely necessary. By ensuring that purchasers and sellers are reimbursed fairly based on the actual volume and quality of the hydrocarbon products, accurate measurement guarantees that this compensation is distributed.

The desire for exact measurement is driven by the necessity of achieving financial transparency, minimizing risk, and adhering to contractual agreements. Because of this, businesses make investments in sophisticated custody metering systems to enhance the accuracy of their measurements, decrease the number of inconsistencies, and prevent financial losses or disputes.

The expansion of oil and gas production activities into new geographical areas and unconventional exploitation of resources

There is a continuous search for new sources of hydrocarbon reserves within the oil and gas sector, which results in exploration and production activities taking place in places that were not previously exploited. When it comes to infrastructure, logistics, and regulatory frameworks, these new geographical areas frequently provide their own set of singular obstacles.  As more businesses expand their operations into these regions, there is an increasing demand for trustworthy custody metering systems that can precisely measure and monitor the volumes of hydrocarbons that are transferred during custody.  The need for custody metering systems in emerging economies is being driven by the expansion of oil and gas exploration and production activities in new geographical areas.

Installation and maintenance of the system are inherently difficult and expensive due to their complexity.

It is necessary to have thorough planning, engineering experience, and collaboration with a variety of oil and gas sector players in order to successfully install a custody metering system. There are several components that need to be integrated into the current infrastructure to complete the installation process. These components include flow meters, analyzers, sampling systems, and control systems. In addition to this, making sure that these components are properly calibrated, aligned, and connected is necessary in order to guarantee accurate measurement. Considering the intricacy of the installation process, it is possible for there to be delays, cost overruns, and difficulties in coordinating the various teams and equipment, all of which can hinder the expansion of the market.

Oil and Gas Custody Metering System Market Future Outlook

• There is a growing emphasis on accurate measurement and accountability throughout the value chain as the oil and gas industry continues to face regulatory scrutiny and increasing environmental concerns. This is because the business is facing these challenges.

• Additionally, it is anticipated that the need for energy on a global scale will rise, particularly in developing regions such as Asia Pacific and Africa. The demand for custodial metering systems that are effective will increase as a result of this rise.

• Ultrasonic flow meters, Coriolis meters, and multiphase flow meters are some examples of metering technologies that are undergoing significant development in the construction industry. There is a good chance that the future market will see an increase in the integration of digitization and automation in custodial metering systems.

Oil and Gas Custody Metering System Market Segmentation Analysis

By Product Type:

Thermal, Differential Flow, Coriolis, Ultrasonic, Vortex, Magnetic, and Turbine are the categories that make up the market, which is segmented according to the type of product. By the year 2034, it is anticipated that the value of the Coriolis segment will have surpassed USD 4.5 billion.

During the year 2024, the Coriolis section served as the market leader. The ability of Coriolis meters to measure multiple parameters simultaneously, such as mass flow, density, and temperature, is one of the factors that contributes to the large market share of this segment.

Other factors include the growing demand for precise measurement in high-value applications, such as the manufacturing of pharmaceuticals and the transfer of custody in oil and gas.

The expansion of the market is being further accelerated by technological advancements in the design of Coriolis meters. These advancements include improvements in signal processing and materials science, which enhanced performance in previously difficult applications.

By Industry Vertical:

On the basis of the industrial vertical, the market for flow meters is divided into the following categories: oil and gas, pharmaceuticals, food and beverage, chemical, healthcare, semiconductors, water and wastewater treatment, and pulp and paper.

With a compound annual growth rate (CAGR) of over 11.7% over the forecast period, the semiconductor market is expected to be the most rapidly expanding market segment. The increasing complexity of chip manufacturing may be the cause of the rapid expansion of the semiconductor industry.

Controlling the flow of gas and liquid with pinpoint accuracy is becoming increasingly important for ensuring that product quality and yield rates are maintained as semiconductor fabrication techniques continue to develop towards smaller nanoscale scales.

Furthermore, the industry’s push toward more environmentally friendly manufacturing processes needs accurate measurement and management of resources, which further boosts the incorporation of flow meters.

Additionally, it is anticipated that investments in advanced semiconductor production facilities will be fueled by the growing need for high-performance chips in future technologies such as artificial intelligence, fifth-generation wireless networks, and the Internet of Things (IoT).

Innovative flow metering solutions will be necessary for these cutting-edge fabrication facilities to guarantee the highest possible level of process control and efficiency. Furthermore, the increasing emphasis on real-time monitoring and data analytics in the semiconductor manufacturing industry is projected to boost the use of smart, connected flow meters that can provide continuous, accurate measurements to improve decision-making and optimize processes.

Report Scope

Oil and Gas Custody Metering System Market Regional Analysis

Several reasons, including rigorous environmental regulations and an emphasis on resource conservation, are contributing to the solid expansion that the flow meter market in the United States is seeing. The demand for sophisticated flow-measuring technology has increased as a result of the trend toward modernizing infrastructure, which includes the implementation of smart city programs.

As an illustration, the Environmental Protection Agency (EPA) made an announcement in 2024 on the implementation of more stringent monitoring criteria for the discharge of industrial wastewater, which prompted a significant number of facilities to improve their flow measurement equipment.

In addition, investments in high-precision flow meters have been prompted by the recent award program that the Department of Energy has implemented for energy-efficient industrial processes.

It is anticipated that the Asia Pacific region will hold the highest proportion of the flow meters market in 2024, accounting for 21.5% of the total. As a result of fast industrialization, urbanization, and infrastructure development, flow meters are becoming increasingly popular in the Asia Pacific region.

This trend is being driven by the region’s geographical location. Industries are being forced to use precise flow measurement technologies to improve resource management and pollution control as a result of stringent environmental restrictions, particularly in China and India.

An precise flow metering system is required for quality assurance and process optimization in the manufacturing sector, which is experiencing significant growth. This is especially true within the electronics and automotive industries.

As an illustration, in the year 2024, Yokogawa Electric Corporation introduced a whole new line of electromagnetic flow meters that were developed especially for the Asian market. These meters were created to meet the demand for measuring solutions that were both cost-effective and very precise.

List of the prominent players in the Oil and Gas Custody Metering System Market:

• 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 Oil and Gas Custody Metering System Market is segmented as follows:

By Product Type

• Thermal
• Differential Flow
• Coriolis
• Ultrasonic
• Vortex
• Magnetic
• Turbine
• Others

By Industry Vertical

• Semiconductors
• Oil & Gas
• Water & Wastewater Treatment
• Chemicals
• Pharmaceuticals
• Food & Beverages
• Healthcare & Life Science
• Pulp & Paper
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America