The ‘Global Smart Gas Metre Market Growth, Share, Size, Price, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global smart gas metre market, assessing the market on the basis of its segments like technologies, types, components, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Smart Gas Metre Market Price, Share, Size, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 2.96 billion
• Forecast CAGR (2023-2028): 4.80%
• Forecast Market Size (2028): USD 3.92 billion
Smart metres are gaining traction in the residential sector which is driving the global smart gas metre market. This can be attributed to the growing awareness pertaining to the advantages of smart gas metres such as higher accuracy, efficient track of spending, and greater convenience. In addition, the detailed information about gas consumption increases trust of consumers as it reduces the chances of error. The increasing digitalisation across semi-urban and urban areas is further expanding the opportunities for this market.
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The rising adoption of smart gas metres across commercial structures, such as shopping malls, enterprises, hotels, restaurants, healthcare units, and educational organisations, among others, is fuelling the global smart gas metre market growth. Smart gas metres enable cost savings on gas, protect data and privacy, and optimises gas management.
Over the forecast period, the growing expansion of the food and beverage processing sector is anticipated to fuel the demand for smart gas metres. This can be attributed to the growing consumption of gas in food and processing. Moreover, increasing number of food processing facilities, augmented by rising population and increasing disposable income across the emerging economies, is likely to provide impetus to the smart gas metre market in the coming years.
Smart Gas Metre Industry Definition and Major Segments
A smart gas metre is defined as an automated electronic device which is used to monitor and track gas consumption. This device comes with a display which enables the users to monitor their gas consumption. It is accurate and reliable and can send updates on gas meter usage to suppliers, aiding in invoice generation.
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Based on technology, the market is bifurcated into:
• Automatic Metre Reading (AMR)
• Advanced Metering Infrastructure (AMI)
By type, the market is segmented into:
• Smart Ultrasonic Gas Metre
• Smart Diaphragm Gas Metre
On the basis of component, the market is divided into:
Based on end use, the market is categorised into:
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Smart Gas Metre Market Trends
The key trends in the global smart gas metre market include the technological advancements and increasing investments towards automation across emerging economies. Smart gas metres with additional IoT-enabled features are improving monitoring efficiency for suppliers and consumers Advancements in communication modules are also leading to greater coordination between suppliers and consumers across the commercial, residential, and industrial sectors.
Growing research and development activities by major manufacturers targeted towards producing innovative smart gas metres with high-range and low-power consumption are further escalating the adoption of smart gas metres across end users. Increasing awareness pertaining to the benefits offered by smart ultrasonic gas metres is another crucial market driving trend. The favourable regulations of various governments aimed towards developing intelligent and technologically advanced gas management solutions are key trends in the smart gas metre market.
In geographical terms, Europe accounts for a significant share in the market for smart gas metres. Growing demand of gas across residential and commercial structures is expanding the scope of smart gas metres. Meanwhile, favourable policies of governments in the region, aimed towards conserving the use of gas, especially after geopolitical challenges, have been playing a pivotal role in the market.
Key Market Players
The major players in the global smart gas metre market report are:
- Sehaj Synergy Technologies Pvt. Ltd.
- Honeywell International Inc.
- Diehl Stiftung & Co. KG
- Itron Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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