Smart Gas Meter Market 2021 | Trends, Growth Demand, Opportunities & Forecast To 2026
Posted on May 4 2021 3:02 AM
"Key Companies Covered in Smart Gas Meter Market Research Report are Siemens, Kamstrup, Aclara, Holley Technology Ltd, Xemex, EMH metering GmbH & Co KG, ABB, Landis+Gyr, Itron, Inc., Secure Meter Limited, Xylem Inc., EDMI Limited, Jabil, Honeywell."
The global smart gas meter market is foreseen to reach USD 10.92 billion by 2026, displaying a CAGR of 6.3% between 2019 and 2026. This is attributable to the increasing demand for energy from residential, industrial, and commercial purposes. Gas is a primary necessity in every household for various applications such as room heating, water heating, or cooking, and others. Gas meters allow having a transparent reading of the amount of energy used, thus avoiding unaccounted consumption and evaluation of monthly tariffs. Such advantages offered by smart gas meters are likely to bode well for the market, thus promoting the smart gas metering market trends in the forecast duration.
The report published by Fortune Business Insights™ titled, “Smart Gas Meter Market Forecast, Share & Industry Analysis, By Type (Advanced Metering Infrastructure and Auto Meter Reading) By Application (Residential, Industrial, and Commercial), and Regional Forecast, 2019-2026” provides a comprehensive analysis on the market and its major growth trajectories. As per this report, the market stood at USD 6.76 Billion in 2018.
According to the report, increasing investments in smart grid infrastructure and smart cities is projected to boost the global smart gas meter market during the forecast period. Additionally, the ongoing development of gas pipeline networks, rising government regulations and policies in emerging countries, and enhanced customer service are expected to contribute to the growth of the global market.
The report offers an elaborate study of the global smart gas meter market along with the key developments and current market trends. It further provides information regarding growth drivers, obstacles, key market players, and opportunities.
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Highlights of the Report
- A comprehensive overview of the smart gas meter market
- Prime emphasis on growth trajectories such as growth drivers, restraints, challenges, and opportunities
- List of segments in the market and the names of leading segments
- List of significant players in the market and key strategies adopted by them to stand out in the competition
- Key industrial developments
- Interesting insights and other smart gas meter market trends
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Top Players Overview:
Fortune Business Insights has listed some of the prominent market players operating in the global smart gas meter market. They are as follows:
- General Electric Company
- Pietro Fiorentini
- Wasion Group Holdings
- Honeywell International, Inc.
- Diehl Stiftung GmbH & Co. KG
- Landis + Gyr Group AG
- Aichi Tokei Denki
- Zenner International GmbH & Co. KG
- Sensus U.S.A., Inc.
- Meter Italia
- Itron, Inc.
- Yazaki Corporation
- Apator SA
- Other market players
AMR Segment to Dominate the Global Market Owing to its Cost-effective Nature
In terms of type, the global smart gas meter market is grouped into advanced metering infrastructure (AMI) and automatic meter reading (AMR). Out of these, AMR is capable of collecting diagnostic, status data, and consumption from energy metering devices and water meter automatically. It then sends the data to a central database for analyzing, troubleshooting, and billing. A benefit of AMR is that it is cost-effective than AMI and hence, it is projected to lead the global smart gas meter market during the forecast period.
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Rising Awareness Programs Regarding Theft Protection to Favor Growth in Asia Pacific
Geographically, the global smart gas meter market is divided into Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. Amongst these regions, North America is likely to lead the global smart gas meter market owing to the increasing interest of the consumers towards billing transparency and expensive nature of energy. Moreover, a rapid shift towards cost-effective options is positively impacting the market in this region by initiating growth in commercial and utility sectors. Europe, on the other hand, is projected to exhibit significant growth in the coming years due to mandatory rollout programs and increasing government regulations.
The report mentions that Asia Pacific possesses unique government initiatives. It is combined with people’s shift towards smart metering systems. The National Development and Reform Commission (NDRC) of China, for instance, launched time-of-use price as well as ladder pricing structure for users across utility, commercial, and residential sectors in 2015. Latin America and the Middle East is anticipated to showcase immense growth in the smart gas meter market due to increasing awareness regarding theft prevention and increasing urbanization. Besides, the governments of these regions have started a few projects for the implementation of smart meter systems.
Landis+Gyr Deploys 20 Million Smart Meters to Tokyo Electric Power Company
In March 2019, Landis+Gyr, a provider of advanced smart metering technology, headquartered in Switzerland, announced the deployment of smart meters and other intelligent devices to approximately 20 million people at Tokyo Electric Power Company (TEPCO). The project would be over by 2020. Once the project gets over, the IoT network of the utility will connect around 30 million consumer and utility devices by using the Wi-SUN home energy management interoperability standard and a wide range of communication technologies.
Significant Industry Developments of Smart Gas Metal Installation Market Includes:
April 2019 – Aclara Technologies and OVO Energy collaborated for implementing the new SMETS2 meter. The companies aim at modernizing the already existing grids and combine with the smart meter rollout program of the UK.
Major Table of Content for Smart Gas Meter Market:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Smart Gas Meter Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type (USD Million)
- Advanced Metering Infrastructure
- Auto Meter Reading
- Market Analysis, Insights and Forecast – By Application (USD Million)
- Market Analysis, Insights and Forecast – By Region (USD Million)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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