Thanks to Dipak Auddy.
This project includes a class that draws a meter on a PictureBox. You can use multiple instances of the class to draw more than one meter. See the code for details.
This approach is an alternative to using an ActiveX control. While it may not be as completely packaged as a control, it is a bit lighter weight.
For information on building ActiveX controls, including the ready-ro-run source code for 101 controls, see my book Custom Control Library. The book includes a gauge control that can display a value much as this example does.