Oil & Gas Custody Metering Market Expected to Reach USD 17.99 Billion by 2032, Growing at 6.1% CAGR

Oil and Gas Custody Metering System Market is expected to grow at a CAGR of 6.1%, is reported by Maximize Market Research

Oil and Gas Custody Metering System Market is forecasted to reach USD 17.99 Bn by 2032. This growth is propelled by rising global energy demand and the increasing adoption of advanced metering systems for accurate hydrocarbon transaction tracking.

Market to Hit USD 17.99 Bn by 2032

Oil and gas custody metering systems market was valued at USD 11.20 billion in 2024 and is projected to increase at a compound annual growth rate (CAGR) of 6.1% between 2025 and 2032, reaching USD 17.99 billion. The surging need for real-time, accurate metering systems across North America and Europe is driving market expansion. North America, led by the U.S., dominated the market in 2024 with a 36.8% share owing to high shale output and stringent FERC standards. In Europe, countries like Germany and the UK are upgrading aging infrastructure to integrate Coriolis and ultrasonic flow meters. Top players such as Emerson Electric Co., Endress+Hauser, and Siemens AG are enhancing market growth by offering modular, IoT-integrated custody transfer skids.

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Market Segmentation

By Component: Flow meters hold the largest segment share and are forecasted to contribute over USD 7.6 Billion to the market by 2032. Ultrasonic, Coriolis, and turbine meters ensure high-precision volumetric and mass flow tracking.

By Application: Offshore custody transfer operations accounted for 41.5% of market share in 2024. The use of high-accuracy metering skids and automated calibration systems is crucial due to space and weight limitations on offshore rigs.

Market Regional Analysis

North America, held the largest share in the global Oil and Gas Custody Metering System Market in 2024, accounting for approximately 36.8% of the total revenue, valued at USD 4.12 billion. The region is projected to grow at a CAGR of 6.0% during the forecast period (2025–2032).

Europe, captured a significant 25.2% Oil and Gas Custody Metering System Market share in 2024, with a market size of approximately USD 2.82 billion. The region is expected to grow at a CAGR of 6.4% through 2032. Countries such as Germany, Norway, and the United Kingdom are at the forefront of adopting custody metering systems that comply with OIML R117-1 standards.

Asia-Pacific, is emerging as the fastest-growing region, registering a CAGR of 7.2%, with a market size of USD 2.41 billion in 2024, contributing around 21.5% of the global Oil and Gas Custody Metering System Market share. The surge in energy demand, coupled with heavy investments in refinery expansions and LNG terminals, especially in India, China, and Australia, is a primary growth factor.

Market Competitive Landscape

Emerson Electric Co. (Jan 2025) – Launched the new Micro Motion Coriolis ELITE flow meter line with enhanced diagnostics for custody transfer; revenue from automation division in 2024: $15.2 Bn.

Siemens AG (Feb 2025) – Expanded AI-based metering control units integrated with their SIMATIC platform; their Industrial Automation revenue hit EUR 18.6 Bn.

Endress+Hauser Group (March 2025) – Rolled out Proline Promass Q flowmeters with remote calibration features; 2024 revenue reached EUR 3.7 Bn.

TechnipFMC plc (April 2025) – Introduced new compact custody metering skids for FPSO applications; earned USD 6.3 Bn in subsea services.

Market Latest Trends

• The widespread use of IoT-enabled metering systems that can monitor data in real time and perform predictive maintenance.
• Because of their dependability and adherence to API and OIML requirements, high-accuracy flow meters such as Coriolis and ultrasonic meters are becoming more and more popular.
• For improved operational efficiency and remote monitoring, go toward cloud-connected data collecting and analytics tools.
• Increasing demand for small, pre-assembled metering skids that save money and time during installation.

Conclusion

• North America, especially the U.S., will continue to dominate due to shale gas production and strict metrology standards.
• Europe follows with advanced flow technologies and robust compliance enforced by API and OIML guidelines.
• Flow meters remain the most critical component, ensuring accuracy and transparency in high-value hydrocarbon transactions.
• Increasing investments in IoT and AI-based metering systems are reshaping the global market dynamics toward smart and automated solutions.

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