Global Smart Gas Meter Market Research Report By Product (Diaphragm, Turbine, Rotary Piston and others), By Application (Residential, Commercial and Industrial) – Forecast to 2027
ID: MRFR/E&P/1154-CR | June 2018 | Region: Global | 111 pages
Market Overview
In view of the most recent examination report, the smart gas meter Market Size esteem was USD 15,720 Million in the year 2017, and it is relied upon to be multiplied before the finish of 2023. Savvy meters are electronic gadgets that are utilized to record the data of electronic energy utilization, and alongside that, force factor, voltage level, and flows are likewise recorded. A smart gas meter Market Share gives more clear utilization conduct and electric stockpile for client charging and framework observing.
Worldwide Smart Meters Market is required to observe heavenly development because of the ascent popular for gadgets in each area. Brilliant meters are quickly supplanting customary meters because of their precision regarding demonstrating better data. There are various components affecting the development of the market, including monetary motivating forces, suitable arrangements of the public authority, and orders. Furthermost, the ascent in the ventures from the public authority to help the savvy meter establishment in the end-client areas like modern, private, and business are expanding the development of the worldwide keen meter market. The worldwide smart gas meter Market Revenue was $21.13 Billion in the year 2019; the high-level element in the savvy meters like programmed meter perusing and age of the bill is probably going to help the development of the market further.
This report contains all the data on the worldwide savvy meters statistical surveying and the market qualities. The smart gas meter Market Trends report likewise contains the perfection of elements, division, central participants, local investigation, and other significant variables. Furthermore, an itemized investigation of the worldwide keen meters market and figure to 2023 is additionally remembered for the report. The keen electric section represented the biggest piece of the pie in 2019, driven by the developing accentuation on unique valuing and mix of developing DER into the current force framework activities in locales like North America, Europe, and Asia Pacific. The future development of the portion can be credited to expanding interest for profoundly exact and exact estimation of utility utilization information for shoppers across end-clients like private, business, and mechanical areas.
COVID-19 Analysis
The smart gas meter Market share was extraordinarily influenced by the flare-up of COVID-19. Toward the beginning of the episode, the greatest impact looked at by many keen meter makers was supply issues because of ended creation. Because of lockdown measures, superfluous organizations, and the interest for private, business, and modern utilization of brilliant gas meters have been decreased. Therefore, the yield and supply of shrewd gas meters are getting back to ordinary levels. A few producers have started to see income recuperation.
While the COVID-19 pandemic has constrained the hands-on work of many significant keen metering ventures to end incidentally, the market is as yet expected to stay versatile, with the all-out number of shipments of keen gas meters generally unaltered for more than three years. In spite of monetary log jams, interest in shrewd gas meters has expanded in an assortment of businesses.
Coronavirus has featured the weaknesses of the shrewd meter inventory network industry, as numerous associations depend on China as a worldwide assembling center for the brilliant meter industry and have likewise experienced disturbances in worldwide stockpile chains. While manufacturing plants and organizations in China are gradually resuming tasks, there is an effect on the brilliant gas meter industry because of COVID-19.
Market Dynamics:
- Drivers
- Opportunities
Developing nations are relied upon to set up 148 million shrewd meters over the course of the following five arising keen meters market across the globe and are anticipated to offer undiscovered freedoms for savvy meters clients. To create progressed meters, these non-industrial nations are likewise anticipated to put about USD 91 Billion in the improvement of the savvy network foundation for battery stockpiling and framework computerization.
Prime tasks have effectively started in 2021 in a large portion of the non-industrial nations of arising areas. The ascent in the utilization of energy limits alongside government activities to assemble understanding is anticipated to set out wonderful market development open doors.
- Restraints
The upkeep and the high establishment cost are significant issues that can frustrate the development of the market. Alongside that similarity issue of the gadget is another significant reason for limitation, which is probably going to upset the development of the market.
The greater part of the smart gas meter Industry is viable with their own provider, which implies these sorts of savvy meters can't adjust to the association of some other or adversary providers association; it is another central explanation that can restrict the shrewd meter market development.
- Challenges
The shortfall of acknowledgment about the advantages of the gadget and assembly request is the significant difficulties influencing the brilliant meter market development. Furthermore, the necessity of the immense interest in the underlying stage and more than normal expense identified with the establishment of the gadget can likewise influence the market development. The difficulties for the central members are to make mindfulness programs in which there is an unmistakable exhibit about the high-level savvy meters to an enormous scope local area that trusted in conventional meters more.
- Cumulative Growth Analysis
The worldwide smart gas meter Market Outlook is projected to arrive at USD 34,635.7 Million by 2025 with a CAGR of 9.55% during the conjecture time frame. To handle the unsafe impacts of contamination, shrewd power meters are being embraced around the world by different nations to receive outflow control guidelines. The Asia pacific keen meters market is projected to enlist a 9.91% CAGR during the appraisal time frame because of the great speculations and expansion in the shrewd meter market size in this locale.
Value Chain Analysis
As indicated by the reports, the worldwide smart gas meter Market Outlook is sectioned based on type, innovation, application, and locales. Based on the sort, the market is sub-sectioned into electric meters, gas meters, and water meters. The electric meter sectioned has represented the biggest keen meters piece of the pie. The electric meter is anticipated to ascend at a 55.6% CAGR in the conjecture time frame, and the gas meter is relied upon to ascend at a 9.56% CAGR during the development time frame.
Based on the innovation, the market is sectioned into programmed meter perusing (AMR) and progressed metering foundation (AMI). The AMI innovation holds the biggest offer on the lookout, and it is relied upon to ascend at a 9.77% CAGR during the audit time frame.
Based on the end-client application, the market is divided into private, mechanical, and business. The private portion is relied upon to hold the biggest piece of the pie, and it is required to ascend at a 9.81% CAGR during the evaluation time frame as far as the keen meters market income.
Segment Overview
- By Division by Application
In view of the application, the smart gas meter Market Analysis is portioned into electric meters, gas meters, and water meters.
- By Division by End-Users
In view of the impetus types, the market is sectioned into three sorts private, modern, and business.
Regional Analysis
Based on the areas, the worldwide smart gas meter Market Growth pattern is divided into the Americas, Europe, Asia Pacific, and the remainder of the world. The Asia Pacific market is relied upon to hold the most extreme offers in the keen meters market during the survey time frame. The ascent in the interest for brilliant meters in financially incredible nations, for example, India and Thailand, is the significant reason for the development of the shrewd meters market in this locale. The Asia pacific shrewd meter market is anticipated to enlist a 9.91% CAGR during the evaluation time frame.
The European fragment is expected to hold the second-biggest offer in the worldwide savvy meters market. The ascent in the shrewd meters industry in this locale is probably going to help the market development. North America is another developing business sector in the worldwide brilliant meters market in this district. It is projected to help the shrewd meters market drifts in this district.
Competitive Landscape
Key players of the smart gas meter Market Growth are:
- Siemens AG. (Germany)
- Schneider Electric (France)
- Landis+Gyr (Switzerland)
- Aclara Technologies LLC (U.S.)
- Xylem, Inc. (U.S.)
- Badger Meter, Inc. (U.S.)
- Itron Inc. (U.S.)
- Honeywell International Inc. (U.S.)
- EDMI (Singapore)
- DIEHL Metering (Germany)
- Apator Group (Poland)
- Kamstrup A/S (Denmark)
- Zenner (Germany)
Recent Developments
- In January 2020, Landis + Gyr presented Revelo electric meters with ad-libbed lattice detecting innovation.
- In January 2020, Itron dispatched a 4G LTE savvy metering arrangement that gives low inactivity, intelligibility in the organization utilizing the 4G LTE advancements, and an expansive region inclusion
- In March 2019, Wasion Group won an agreement with Guizhou Power Grid Corporation to create communicational and terminal items with shrewd force arrangements and savvy meters.
Report Overview:
- Market overview highlights the global recognition of the smart gas meter Market Analysis
- Analysis based upon COVID 19
- Explanation upon the Market Dynamics
- Value chain analysis for the smart gas meter Market Value Forecast Research Report.
- Market segmentation overview
- The regional analysis of the smart gas meter Market
- Competitive landscape analysis
- Recent Developments of smart gas meter Market Value
The report highlights smart gas meter Market Growth potential in terms of its revenue hike by the end of the forecast years in 2028.
The segmentation table is as follows:
By Application
- Electric meters
- Gas meters
- Water meters
By End-Users
- Private
- Modern
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2017: USD 15,720 Million |
| CAGR | 2027: Substantial CAGR |
| 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 | Product, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Siemens AG. (Germany), Schneider Electric (France), Landis+Gyr (Switzerland), Aclara Technologies LLC (U.S.), Xylem, Inc. (U.S.), Badger Meter, Inc. (U.S.), Itron Inc. (U.S.), Honeywell International Inc. (U.S.), EDMI (Singapore), DIEHL Metering (Germany), Apator Group (Poland), Kamstrup A/S (Denmark), Zenner (Germany) |
| Key Market Opportunities | Needs For Efficient Energy Usage |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
The lack of awareness in third-world countries is projected to create impediments in the growth of the market as a broad consumer base is till unaware of the benefits.
The market players in the market such as Aclara Technologies, Itron Inc., Honeywell International Inc., Xylem Inc. and Landis+Gyr are optimizing their strategies to meet the opportunities that may come in the future.
The need to gain overall energy savings is expected to spur the Asia Pacific region into a favorable position during the forecast period.
An income worth USD 3.07 Bn is expected to be gained by the end of 2024, due to the increasing consumption of utilities.
The absence of mindfulness in underdeveloped nations is projected to make obstructions in the development of the market as a wide shopper base is still ignorant of the advantages.
The global market for smart gas meters is anticipated to grow from USD 1.96 Bn in 2017 to USD 3.07 Bn by the end of 2024 and is expected to witness a CAGR of 6.60% during the forecast period of 2018 to 2024. Smart gas meters are superior to traditional gas meters due to their efficient use of energy, and other useful features; these advantages that the product has are acting as a principal driver of growth for the global smart gas market.
Ever increasing consumption of utilities have sparked investments in smart grid projects, which have consequently facilitated market growth. Most recently, the UK's Office of Gas and Electricity Markets announced its decision to invest a considerable sum of over USD 50 Mn in smart grid pilot projects. These investments are crucial in making gas and electricity networks more reliable. This, in turn has made positive influence on the government rollouts of smart gas meters. In the EU alone, 45 million smart gas meters are set to be rolled out by 2020, thus ensuring the steady growth of the market over the next few years as more regions shift toward adopting the technology.
One key challenge that the market is poised to face is lack of awareness in third-world countries. These countries have a strong presence of a massive population with a high consumption pattern while being unaware of the benefits of using smart gas meters. It should be noted, however, that the market carries the potential for robust growth in developing countries, which is unrealized. The growing urgency associated with energy consumption and use of smart meters to achieve this is anticipated to prompt growth for the global smart gas meter market.
By product, the market has been segmented into diaphragm gas meters, turbine gas meters, rotary gas meters and others. The diaphragm gas meter segment currently accounts for the dominant share of the market and is expected to grow at an above-average CAGR during the assessment period. Diaphragm gas meters integrate traditional meters with current technologies making it easier to implement and has the added advantage of accuracy thus cementing its lead position. By application, the market has been segmented into residential, commercial and industrial, with the residential segment possessing the most significant share and will move on a fast growth trajectory. The segment is expected to achieve a CAGR of 7.02% during the review period; this can be attributed to government rollouts of smart gas meters in the residential sector and the requirement for accurate and efficient consumption of gas in a highly populous global environment, which is rapidly urbanizing.
Regional Analysis
North America accounts for over a third of the total market share and the market in the region was valued at USD 725.9 million in 2017. This is primarily attributable to the presence of the leading market players in the region. Additionally, the U.S possesses more than 30 electric and gas companies with fully implemented smart meters. Over 50% of U.S households use smart meters, and deployments are expected to reach 90 million by 2020. The rapid implementation of this technology has put North America on track to be the fastest growing market during the forecast period.
The EU has acknowledged the potential and importance of cost-cutting energy savings provided by smart gas meters and is expected to witness exponential growth over the review period. Expansion of smart grid deployments has been recognized as vital to achieving better energy management and improving overall energy savings, thus affecting positive growth for the region. The need for implementation of relevant infrastructure to support smart meters are prompting EU members to use sustainable energy supply for the targeting of effective operations.
The Asia-Pacific is a huge market for smart gas and holds a lot of unrealized potential. Although the region faces the challenge of awareness regarding smart meters, there are several plans in place to convert certain cities in developing countries such as India into “smart cities.” China has made considerable investments in infrastructure and is potentially the world’s largest market for smart meters. Favorable government policies and the market potential is expected to attract eminent market players, thus contributing toward the growth of the market over the forecast period.
Competition Tracking
The competitive landscape of the global smart gas meters market is influenced by several prominent market players such as Honeywell International Inc., Itron Inc., Aclara Technologies, Xylem Inc. and Landis+Gyr. Other market players include MeteRSit s.r.l, Zenner International, Apator Group, Diehl Metering, Schneider Electric, Flonidan A/S and EDMI Ltd.
Global Smart Gas Meters Market: Competitive Landscape
Landis+Gyr (Switzerland), Xylem, Inc. (U.S.), Aclara Technologies LLC (U.S.), Honeywell International Inc. (U.S.), and Itron Inc. (U.S.) are the five major players in the global smart gas meters market. Landis+Gyr & Itron Inc. holds the first position among the top five players, commanding 32.0% market share as of 2016 followed by Honeywell International Inc. with 18.0% market share. These companiers are likely to maintain their strong global presence through expansion, merger & acquisition, partnership & collaboration, and extensive product portfolio.
Itron Inc. a prominent player in smart gas meters market specializes in advanced metering, network communications, smart grid, home area networking, smart metering, gas meters, meter data management, and thermal energy measurement and control. The firm invests heavily in research and development to develop and deliver high-quality products to their customers. The firm mainly caters to specific industries, which include Gas, Water, Electricity, Thermal Energy, Internet of Things and Smart Cities. Over time, the firm has managed to establish operations, across the globe, specifically in the United States, EU, Asia Pacific and other regions.
Landis+Gyr is a leading solution provider for electricity, gas, heat/cold, and water utilities worldwide. It offers electricity meters, such as commercial and industrial, grid, residential, and prepayment meters; MV/LV monitoring and control terminals; gas meters; communication units; and heating and cooling meters. Landis+Gyr operates in over 30 countries, across the five continents of Americas, Asia Pacific, Europe, Middle East and Africa with more than 6,000 employees.
Honeywell International Inc. a diversified technology and manufacturing company founded in 1906. The company is headquartered in New Jersey, US, they have a unique blend of physical products and software that enable end-users to improve homes, buildings, factories, utilities, vehicles, and aircraft. The company operates through four operating segments of aerospace, home and building technologies, performance materials and technologies, and safety and productivity solutions. Home and Building Technologies is a leading global provider of products, software, solutions and technologies. The segment offers products and services such as controls and displays for heating, cooling, indoor air quality, ventilation, humidification, lighting and home automation, advanced software applications for home/building control and optimization. It also includes products, services and solutions for measurement, regulation, control and metering of gases and electricity; metering and communications systems for water utilities and industries; access control, and others.
Aclara Technologies LLC, a prominent provider of smart infrastructure solutions (SIS) pertaining to water, gas, and electric utilities worldwide. The company offers a comprehensive suite of solutions comprised of meters and edge devices, Advanced Metering Infrastructure (AMI), installation services and provision of labor with a single point of accountability to utilities. Aclara Technologies LLC has its offices in the U.S., the U. K, Taiwan, Philippines, and Taiwan. The company currently has a workforce of over 900 people.
Xylem, Inc. is one of the leading global water technology providers, enabling efficient transport, treatment, testing of water. The company has various brands such as Bell & Gossett, Sensus, AC Fire, Flojet, and Flowtronex, which operate in more than 150 countries such as U.S., India, Canada, U.K. and others. The company operates through three segments, namely, Water Infrastructure, Applied Water, and Sensus. The Sensus segment delivers communications, smart metering, measurement and control technologies and services that allow customers to use their distribution networks more effectively, for delivery of critical resources such as water, electricity and natural gas.
The growth of the market vendors is dependent on market conditions, government support, and industry development. Players focus on strengthening their presence worldwide through expansion followed by mergers & acquisitions during the forecast period. These strategies are widely adopted to increase their presence, customer base, and achieve the operational efficiency. The competitive environment in the market is likely to intensify further due to the increase in new product developments and business expansions. Companies continue to emphasize on the adoption of new growth strategies to gain a greater foothold in the market on a global level.