Global Smart Gas Meters Market – Overview
Smart gas meters have increasingly substituted existing meters. Smart gas meters are helpful tools for the end users as provide energy efficiency, monitoring and enables the end users to keep on top of the gas bills. Smart meters provide a two way communication between the meter and the central system.
According to a recent study report published by the Market Research Future, The global market of Smart Gas Meters is booming and expected to gain prominence over the forecast period. The global Smart Gas Meters market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 5.37% during the estimated period (2016 – 2023).
Increasing government roll outs across the globe is the major factor driving the growth of the market. EU alone has made big strides in the government roll outs with 1.5 million smart gas meter already installed in households. Additionally, need for efficient energy usage and conservation of energy has induced a significant demand in the smart gas meter which enables the customers to be on top of their energy consumption and production.
Landis+Gyr (Switzerland), Itron Inc. (U.S.), Apator Group (Poland), Honeywell International, Inc. (U.S.), Diehl Metering (U.K.), Raychem RPG (Taiwan), Sensus (U.S.), Dandong Dongfa Group Co. Ltd. (China), EDMI Limited (Singapore), and Chongqing Shancheng Gas Equipment Co. Ltd. (China) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Smart Gas Meters Market.
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Smart Gas Meters Global Market – Competitive Analysis
Global Smart Gas meters Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Industry/ Innovation/ Related News:
January 16, 2018 – Landis+Gyr announced the release of Command Center 7.2, the latest version of its operating platform for the company’s Advanced Metering Infrastructure (AMI) networks. Command Center 7.2 lays the groundwork for the next generation of IoT connectivity on the building in support for new devices and management of peer-to-peer communications on the network. It also enables enhanced integration with other utility software products.
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Smart Gas Meter Global Market – Regional Analysis
Both North America and Europe are estimated to hold a dominating share within the smart gas meter market. U.S. is another major market for Smart Gas Meters. Government policy mandates and fiscal incentives have been the primary drivers for the demand for Smart Gas Meters. Also, the region is the hub of major manufacturers which has the positive influence on the growth of the market. During the forecast period Government policy mandates and fiscal incentives have been the primary drivers for the demand for Smart Gas Meters. European region is expected to have the fastest growth in next half a decade. However, Asia-Pacific region is also projected to register a considerably high growth rate during the forecast period. Increasing investments on account of government initiatives and roll-outs is expected to be a major driving factor for the growth of the European market.
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