Heat Meter Market Research Report by Type (Mechanical and Static), Connectivity (Wired and Wireless), End-User and Regions (North America, Europe, Asia-Pacific, Middle East & Africa, & South America) – Forecast till 2027
ID: MRFR/E&P/5514-HCR | February 2021 | Region: Global | 111 pages
Heat Meter Market Scenario:
Heat meter market is expected to grow at ~7.25% CAGR during the forecast period.
Global Heat meter Market
Global Heat meter market is expected to witness substantial growth during the forecast period, as the systems are mainly based energy efficiency. Asia-Pacific is expected to foresee increasing manufacturing, meanwhile its dependency on energy imports is growing. Hence, the demand for heat meter will be needed for conserving the energy being consumed. Similarly, North America being the second largest economy is also focusing towards energy conservation programs by implementing heat meters within different application areas.
Key Players:
The key players of global Heat meter market are Diehl (Germany), Danfoss (Denmark), Landis+Gyr (Switzerland), Itron (US), Honeywell Elster (US), Kamstrup (Denmark), Zenner (US), Sontex (Switzerland), Qundis (Germany), and Siemens AG (Germany).
Heat meter is a device used for measuring thermal energy provided by a source by measuring the flow rate of the heat transfer fluid. It is generally used in the plants for measuring boiler output. It is also used to measure the heat or cooling output of a heating boiler and chiller unit respectively. The major function of a heat meter is to provide a data needed for billing and optimization. Heat meter functions with certain legislative and regulatory framework needed for installation of heat meter. Residential segment is estimated to dominate the heat meter market during the forecast period. Moreover, it is estimated that there will be a substantial growth of the global Heat meter market mostly in the economies where heat conservation is a major concern including some of the developing economies.
Mandatory legislative required to install heat meters has become the major driver for the growth of the global heat meter market. Additionally, governments around the globe are developing policies to encourage the use of heat conservation, due to energy import that is being taken place in many developing economies. According to International Energy Efficiency, low-carbon district heating providing greater flexibility can decarbonize heating in buildings by deploying heat meters.
Static segment is becoming popular with users as these meters use fluidic oscillator principle for providing reliable flow and energy readings. On the other hand, mechanical heat meter is a compact device to measure heating and cooling energy in major application areas. However, mechanical meters are not suitable for liquids with suspended solids as these can cause either wear or build-up on the meter requiring high level of maintenance.
The global heat meter market is projected to grow at a high rate during the forecast period, mainly due to the growing demand accurate measurement of heat consumption and increased savings through heat conservation, which further drives the growth of the global heat meter market, globally.
Market Segmentation:
Global Heat meter market has been segmented based on type, connectivity, end- user, and region. Based on type, the market is classified into mechanical and static. Static segment is expected to grow at the fastest rate as these meters use fluidic oscillator principle for providing reliable flow and energy readings.
Based on connectivity, the market is segmented as wired and wireless. Wired heat meter is estimated to dominate the market due to increased adoption of wired meters in poor connectivity areas where residential buildings are connected with district heating.
The global Heat meter market is further segmented based on end-user, including residential, industrial, commercial, and other segments. Commercial segment of the global Heat meter market is estimated to register the highest market share during the forecast period.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2027: Significant Value |
| CAGR | 7.25% CAGR (2020-2027) |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Diehl (Germany), Danfoss (Denmark), Landis+Gyr (Switzerland), Itron (US), Honeywell Elster (US), Kamstrup (Denmark), Zenner (US), Sontex (Switzerland), Qundis (Germany), and Siemens AG (Germany) |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | Mandatory legislative required to install heat meters |
Frequently Asked Questions (FAQ) :
Mandatory legislative required to install heat meters is the major driver for the growth of the global heat meter market.
At 7.25% CAGR the market is growing.
Danfoss (Denmark), Diehl (Germany), Itron (US), Landis+Gyr (Switzerland), Kamstrup (Denmark), Honeywell Elster (US), Sontex (Switzerland), Zenner (US) are the top players of the market.
Asia-Pacific to foresee increasing growth value and impact on the market.
Commercial segment of the global Heat meter market is to register the highest market share during the forecast period.