The Global Smart Gas Meters Market is estimated to be a lucrative market within the upstream oil & gas industry. It Advantages of smart gas meters such as accurate billing, enhanced customer experience, and improved customer service are expected to be the driving factors for Smart Gas Meters Market in developing countries.
Smart Gas Meters Market:
The Global Smart Gas Meter Market is expected to grow at about 7% CAGR during the forecast and reach almost $3.5 billion by 2022. The smart gas meter market is expected to grow at a rapid pace primarily due to government roll-outs, and implementations of mandates & policies, in developed economies. Government mandates are another source of increasing demand acting as a market driver. Government policies specifically in North America, Europe and Asia-Pacific region are targeting maximum roll outs of smart gas meters in households to ensure efficient energy usage. The development of smart grids is widely considered to be a key enabler of the transition towards a low carbon economy. Global market for Smart Gas Meters is expected to grow at a CAGR of about 7% between 2016 and 2022
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Key players in the Global Smart Gas Meter market include
- Landis+Gyr (Switzerland),
- Itron Inc. (U.S.),
- Apator Group (Poland),
- Honeywell International, Inc. (U.S.),
- Diehl Metering (U.K.),
- Raychem RPG (India),
- Sensus (U.S.),
- Dandong Dongfa Group Co. Ltd. (China),
- EDMI Limited (Singapore),
- Chongqing Shancheng Gas Equipment Co. Ltd. (China).
Rapid growth in the end users and low differentiation in meter function requirements has shifted the market focus towards commoditization, thereby intensifying the competitive pricing rivalry between key players.
The key findings of the report “Global Smart Gas Meter Market includes:
- Residential segment is expected to register the highest market share
- Automatic meter reading segment will dominate the market
- The market is expected to reach USD 3.5 billion during the forecast period.
Residential held the major share within the Global Artificial Lift Market
Smart meters are the next generation of gas and electricity meters and offer a range of intelligent functions. Most of the smart meters that are being installed today use mobile phone-type signals to send meter readings to your supplier, and other wireless technologies to send information to the in-home display. Residential application has dominated the smart gas meter market mainly due to the government mandates and increasing awareness among individuals regarding the advantages of smart gas meters
Market Research Analysis:
Both North America and Europe are estimated to hold a dominating share within the smart gas meter market. 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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List Of Tables
Table 1 Global Smart Gas Meters Market Snapshot
Table 2 Drivers For The Market
Table 3 Restraints For The Market
Table 4 Global Smart Gas Meters Market, By Product
Table 5 Automatic Meter Reading Market, By Region
Table 6 Advanced Metering Infrastructure Market, By Region
Table 7 Global Smart Gas Meters Market, By End-User
Table 8 Residential Market, By Region
Table 9 Commercial Market, By Region
Table 10 Industrial Market, By Region
List Of Figures
Figure 1 Research Methodology
Figure 2 Impact Analysis: Drivers And Restraints
Figure 3 Global Smart Gas Meters Market, By Product
Figure 4 Global Smart Gas Meters Market, By End-User
Figure 5 Global Smart Gas Meters Market, By Region
Figure 6 North America Smart Gas Meters Market, By Country
Figure 7 Europe Smart Gas Meters Market, By Country
Figure 8 Asia-Pacific Smart Gas Meters Market, By Country
Figure 9 Rest Of The World Smart Gas Meters Market, By Country
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