According to a new report published by Introspective Market Research, titled, “Electronic Gas Volume Correctors Market by Product Type, Type, Functionality, Application, End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the global Electronic Gas Volume Correctors Market size was valued at US$1172.34 million in 2023, and is projected to reach US$1172.34 million by 2032, registering a CAGR of 7.82% from 2024 to 2032. Electronic Gas Volume Correctors (EVCs) are essential devices in the natural gas industry, designed to accurately measure and control gas volumes under fluctuating pressure and temperature conditions. These devices function by sending signals from gas meters and utilizing immediate temperature and pressure data to adjust the gas volume to standard levels. EVCs play a crucial role in ensuring consistency in gas volume measurements, enabling precise billing, compliance with regulations, and efficient energy use.
EVCs operate by adjusting gas flow readings to conform to a standard reference condition, typically requiring a uniform temperature and pressure. The device measures the actual gas flow at the usage or transmission location, capturing pulse signals from a gas meter. EVC utilizes sensors to monitor pressure and temperature, evaluate deviations from standards, and modify gas volumes to maintain consistent reporting across the distribution network for billing and regulatory adherence.
The Electronic Gas Volume Correctors Market is segmented into Product Type, Type, Functionality, Application, End-Use Industry, and region. By Product Type, the market is categorized into Single-Channel Evcs, Multi-Channel Evcs. By TYPE, the market is categorized into Mains Powered Volume Correctors, Battery Powered Volume Correctors. By Functionality, the market is categorized into Combined Correction, Pressure Correction, Temperature Correction. By Application, the market is categorized into Industrial, Commercial, Residential. By End-Use Industry, the market is categorized into Oil & Gas, Chemical, Water & Wastewater, Food & Beverage, Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
The rising adoption of Electronic Gas Volume Correctors (EVCs) significantly supports the growth of the global EVC market. EVCs ensure precise measurement of natural gas by compensating for variations in pressure and temperature. For instance, in gas utilities, an EVC can modify a logged gas volume of 1,000 cubic meters at 60°F and 14.7 psi to conform to standard conditions, guaranteeing accurate billing and compliance with regulatory standards. Advancements in technology have enabled modern EVCs to link with IoT systems, facilitating real-time data exchange and remote oversight. For example, utility companies using IoT-powered EVCs observed a 15-20% reduction in operational costs due to improved monitoring and reduced manual actions. The demand for these sophisticated systems is rising, particularly in sectors focused on digital transformation in gas management. Stringent government regulations also promote EVC uptake. For instance, the European Union mandates accurate volume calibration for natural gas, compelling utility firms to invest in EVC systems. In 2023, compliance initiatives resulted in a 25% increase in EVC installations across Europe.
The increasing investments in global smart grid projects present significant growth opportunities for the Electronic Gas Volume Correctors (EVC) industry. Authorities and utility providers are concentrating on modernizing electrical grids to boost efficiency, reduce losses, and enable better energy administration. Smart grids rely on precise measurements of gas and electricity flow, essential for their advanced metering systems and real-time data functionalities, hence the importance of Electronic Gas Volume Correctors. These devices ensure accurate billing and effective energy distribution by compensating for changes in temperature and pressure. The global shift toward renewable energy sources and distributed power generation is steadily increasing the need for smart grids. EVCs are essential in managing the inconsistent energy output from renewable sources like wind and solar, ensuring that energy consumption is accurately measured and billed, regardless of supply variations.
Global Electronic Gas Volume Correctors Market, Segmentation
The Electronic Gas Volume Correctors Market is segmented based on Product Type, Type, Functionality, Application, End-Use Industry and region.
Product Type:
The Product Type segment is further classified into Single-Channel Evcs, Multi-Channel Evcs. Among these, the Single-Channel EVCs sub-segment accounted for the highest market share in 2023. The market for single-channel electronic volume correctors (EVC) is experiencing notable expansion, fueled by the rising need for precise gas measurement and adherence to regulations in the energy industry. A significant trend is the embrace of sophisticated EVCs that provide improved digital functionalities, including IoT connectivity and wireless communication. These characteristics allow for remote observation, prompt data assessment, and smooth integration with smart metering systems. The movement towards sustainability and efficiency in energy management is gradually promoting the use of single-channel EVCs. They are preferred due to their ease of use, affordability, and accuracy in handling minor gas distribution systems. The ability of the devices to operate with different gas meters enhances their versatility, serving residential, commercial, and industrial needs. Geographically, development is strong in emerging markets where upgrading infrastructure and digitizing energy are key focuses.
Application:
The application segment is further classified into Mains Powered Volume Correctors, Battery Powered Volume Correctors. Among these, the Mains Powered Volume Correctors sub-segment is anticipated to show the fastest growth by 2032. The market for Electronic Gas Volume Correctors (EVC) is experiencing a trend fueled by the demand for accurate gas measurement and invoicing in industrial and commercial sectors. EVCs employ sophisticated pressure and temperature sensors to accurately assess gas volume, adjusting for variations in operating conditions such as temperature and pressure. Market trends highlight the need for sensors that offer high accuracy, exceptional stability, and low power consumption, in line with the growing demand for extended operation in battery-operated systems. The use of IoT-enabled EVCs is increasing as well, providing remote monitoring, instant data sharing, and sophisticated analytics. These traits improve operational efficiency and guarantee adherence to regulations. Emphasizing energy efficiency and sustainability promotes the adoption of low-power designs, guaranteeing enduring and dependable performance. As natural gas usage rises and global metering standards become stricter, the EVC market is set for growth, particularly in areas experiencing considerable industrialization and infrastructure enhancement.
Region:
The Electronic Gas Volume Correctors Market in Asia-Pacific is projected to show the fastest growth by 2032. The Asia Pacific region is experiencing significant growth across various industries, particularly in energy, water management, and the chemicals sector. In 2023, China's oil and gas industry reached a notable milestone, surpassing 390 million metric tons of oil equivalent in output, supported by government initiatives aimed at enhancing energy security. India's rapid urban expansion has resulted in a rise in wastewater generation, reaching 72,368 million liters per day (MLD) of sewage, but only 28% of this is processed, exacerbating the pressure on water resources. The country’s water and wastewater industry, which is the fifth-largest globally, is expected to grow from $11 billion to $18 billion by 2026. Japan's housing sector, which includes 65.02 million residences, is driving the demand for reliable energy measurement tools such as Electronic Gas Volume Correctors (EVCs), critical for accurate gas volume evaluation in a country with diverse climate factors. The chemical industries in South Korea, Malaysia, Thailand, and Vietnam have shown significant growth, marked by increasing imports and exports, reflecting heightened demand for specialized products.
Active Market Players in the Electronic Gas Volume Correctors Market
- Honeywell International Inc.
- Landis+Gyr
- Elgas, S.R.O.
- Metreg Technologies Gmbh
- Aiut
- Samgas Romania
- Sacofgas Srl
- Rmg Messtechnik
- Pietro Fiorentini S.P.A.
- Zenner
- Galvanic Applied Sciences
- Dresser Utility Solutions
- Plum
- Wigersma & Sikkema
- Metrix Italia
- Gold Card
- Kimpex Flow Pvt. Ltd
- Flow Metering Technology Private Limited, and Other Active Players.
Key Industry Developments
In November 2024, Landis+Gyr a global leader in integrated energy management solutions, signed a comprehensive 15-year agreement with TREFOR Infrastruktur A/S, TREFOR Vand A/S, and TREFOR Varme A/S to deliver, implement, and support a new generation of smart meters and digital infrastructure across TREFOR’s service areas. This collaboration marks a significant milestone in Denmark’s ongoing transition towards a more efficient, data-driven utility landscape.
In September 2024, Honeywell announced it has signed an agreement with USA BioEnergy (USABE) to implement its Experion PKS Distributed Control System (DCS) and safety system at USABE’s new Texas Renewable Fuels Bon Wier advanced biorefinery, which is designed to convert wood waste into sustainable aviation fuel (SAF). This collaboration underscores Honeywell’s alignment of its portfolio to three compelling megatrends—automation, the future of aviation, and energy transition.
Key Findings of the Study
- The global Electronic Gas Volume Correctors (EVC) market was valued at $1172.34 million in 2023 and is projected to grow at a CAGR of 7.82%, reaching $1172.34 million by 2032. The demand is driven by the need for precise gas measurement under varying pressure and temperature conditions.
- The integration of IoT-enabled EVCs and advancements in remote monitoring, real-time data sharing, and analytics significantly enhance operational efficiency, reduce costs, and support compliance with stringent government regulations, particularly in regions like Europe and Asia-Pacific.
- The Asia-Pacific region is expected to experience the fastest growth by 2032, fueled by rapid industrialization, infrastructure development, and rising demand for efficient gas measurement systems in industries such as energy, water management, and chemicals.
- Single-Channel EVCs dominate the product type segment due to their affordability and versatility across residential, commercial, and industrial applications. Meanwhile, mains-powered EVCs are anticipated to grow rapidly, driven by their reliability in industrial and commercial sectors.