Global Smart Gas Meter Market - Overview
Smart Gas Meter Market size is projected to be worth USD 3.55 Billion by 2027, registering a CAGR of 5.24% during the forecast period (2021 - 2027), The market was valued at USD 2.12 billion in 2020.
Smart Gas Meters allow its end users to control gas usages displaying the accurate real time data and advanced data analytics of gas usages of each day. They automatically send the collected data to the supplier using wireless meter reading network allowing them to read meter remotely by wireless meter reading software or hand held unit thus saving time and energy for the users. The collected data also consist of the information on gas consumption, valve status, and battery status etc. Smart Gas Meter Market can close valve and stop gas supply on the command of close valve from the wireless software or hand held unit therefore eradicating chances of probable accidents in cases like gas leakages etc. Similarly, the open valve command will restart the gas supply. Owing to the numerous advantages such as energy efficient consumption control etc., Smart Gas Meters are increasingly replacing the traditional meters and its market is witnessing a significant growth in recent times.
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Factors driving the growth of the global Smart Gas Meter Market include; rising government initiatives and mandates to implement smart gas meters in households and commercial application in recent times by spreading awareness regarding smart and efficient usages of these meters. Major players such as Itron, Landis+Gyr, and Sensus are playing a significant role in the development of significant infrastructure required for the implementation of smart grids at ground level.
However, there is a problem of compatibility hindering the adoption of smart gas meters. Most of the smart gas meters are effectively made compatible with their suppliers only meaning these supposedly smart meters installed in the households are not adaptable to the other/ rival supplier’s connections. Switching suppliers would result in the meter being no longer “Smart”, but would revert to a dumb mode which is no different from the traditional meters of decades old. Advancement is technology is already underway eradicating this issue introducing a new centralized communications network.
Global Smart Gas Meter Market - Competitive Analysis
The global smart gas meter manufacturers appears to be highly competitive and diversified with the presence of many well established players having regional and global presence.Innovation, mergers acquisitions, and brand reinforcement remain the key trends for leading players in the smart camera market.
Smart Gas Meter Global Market - Segments
For the convenience of the report and enhanced understanding; MRFR Analysis is been segmented in to 3 key dynamics;
- By Product : Comprises Diaphragm, Turbine. Rotary among other.
- By Application : Residential and Commercial.
- By Regions : North America, Europe, APAC and Rest of the World.
Smart Gas Meter Global Market Size - 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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Tables Of Contents
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Smart Gas Meter Market, By Reactor Type
5 Global Smart Gas Meter Market, By Strategy
6 Global Smart Gas Meter Market, By Capacity
7 Regional Market Analysis
8 Competitive Analysis
9 List of Tables
10 List of Figures
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