What is Global Electronic Volume Correctors (EVC) Market?
The Global Electronic Volume Correctors (EVC) Market is a dynamic and rapidly evolving sector that plays a crucial role in the measurement and regulation of gas flow in various industries. These devices are designed to correct the volume of gas measured by gas meters for the effects of temperature and pressure. The global market for these devices is vast and diverse, encompassing a wide range of applications and industries. The EVC market is driven by the increasing demand for accurate and reliable gas measurement in various sectors, including oil and gas, power generation, and manufacturing. The market is also influenced by technological advancements and the increasing adoption of smart meters. However, the market's growth is hampered by factors such as high installation costs and the lack of awareness about the benefits of EVCs. Despite these challenges, the market presents significant opportunities for growth and expansion, particularly in emerging economies where the demand for energy is on the rise.
Single-channel EVC, Double-channel EVC in the Global Electronic Volume Correctors (EVC) Market:
The Global Electronic Volume Correctors (EVC) Market is segmented into Single-channel EVC and Double-channel EVC. Single-channel EVCs are designed to correct the volume of gas measured by a single gas meter, while Double-channel EVCs can correct the volume of gas measured by two gas meters simultaneously. These devices are used in various industries, including oil and gas, power generation, and manufacturing, where accurate and reliable gas measurement is crucial. The market for these devices is driven by the increasing demand for energy, the growing need for accurate and reliable gas measurement, and the rising adoption of smart meters. However, the market's growth is hampered by factors such as high installation costs and the lack of awareness about the benefits of EVCs. Despite these challenges, the market presents significant opportunities for growth and expansion, particularly in emerging economies where the demand for energy is on the rise.
Residential, Commercial, Industrial in the Global Electronic Volume Correctors (EVC) Market:
The Global Electronic Volume Correctors (EVC) Market finds its application in various areas including Residential, Commercial, and Industrial sectors. In the residential sector, EVCs are used to correct the volume of gas used for heating and cooking purposes. In the commercial sector, these devices are used in businesses such as restaurants and hotels, where accurate gas measurement is crucial. In the industrial sector, EVCs are used in various industries, including oil and gas, power generation, and manufacturing, where they play a crucial role in ensuring accurate and reliable gas measurement. The market for these devices is driven by the increasing demand for energy, the growing need for accurate and reliable gas measurement, and the rising adoption of smart meters. However, the market's growth is hampered by factors such as high installation costs and the lack of awareness about the benefits of EVCs. Despite these challenges, the market presents significant opportunities for growth and expansion, particularly in emerging economies where the demand for energy is on the rise.
Global Electronic Volume Correctors (EVC) Market Outlook:
The global Electronic Volume Correctors (EVC) market, which was valued at US$ 267.7 million in 2022, is expected to reach a value of US$ 324.8 million by 2029. This represents a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2023 to 2029. The market is dominated by the top three players, who collectively hold a market share of over 55%. In terms of geographical distribution, Europe is the largest market for EVCs, accounting for about 53% of the global market share. This is followed by North America and China, which hold market shares of 31% and 11% respectively.
| Report Metric | Details |
| Report Name | Electronic Volume Correctors (EVC) Market |
| Accounted market size in 2023 | US$ 269.8 million |
| Forecasted market size in 2029 | US$ 324.8 million |
| CAGR | 3.1 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Honeywell, Elgas, Dresser Utility Solutions, ITRON (Dresser Utility Solutions), RMG (Dalian Energas), Pietro Fiorentini, PLUM, Tancy Instrument (Goldcard), Cangnan Instrument, Shanghai Fiorentini, Wigersma & Sikkema, CHINA-HTDL, RMFTEK, vemm tec Messtechnik GmbH, Galvanic Applied Sciences, SIS, Winelan, Turbulentnost-Don |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
