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Cooling Meters Market Size - By Product (Ultrasonic Meters, Vortex), Mechanical & Static Meters, By Application (Residential, Commercial, Industrial), Market Share & Forecast, 2024 - 2032

  • Report ID: GMI5444
  • Published Date: Mar 2023
  • Report Format: PDF

Cooling Meters Market Size

Cooling Meters Market was valued at USD 1.25 billion in 2023 and is projected to expand at more than 6% CAGR from 2024 to 2032, owing to the increasing installation of clean energy systems to address global energy crises.

The substantial increase in energy utilization and the expansion of clean energy resources are contributing to smart meter development to strengthen energy security. Countries including the U.S. China, and India, which have implemented policies and reforms to combat the energy crisis, are driving the upward revision in renewable power growth. With rapid industrialization and urbanization, the installation of sustainable energy systems has also accelerated. The rising emphasis on automated and individualized billing adoption will therefore boost the use of smart cooling meters as an integral part of energy distribution networks.

Cooling Meters Market

The strong focus on minimizing energy production costs has encouraged consumers to opt for advanced energy metering solutions for accurate billing and consumption management. Moreover, the introduction of innovative meters that offer enhanced performance and high immunity against extreme weather conditions will create lucrative prospects for cooling energy meter developers. However, key challenges associated with long-term stability, accuracy, and device protection in hot and humid environments may hamper industry expansion to some extent.

Real-time data monitoring & energy bill reduction benefits to spur vortex heat cooling meter usage

In terms of product, the cooling meters market from the vortex segment is slated to register over 6% growth rate between 2023 and 2032, owing to benefits such as eliminating the need for an electric power supply, among others. Particularly suited for explosive environments, vortex cooling meters are utilized for the convective cooling of high-speed tools, switch cabinet cooling, and the air conditioning of protective suits. The shift in preference for advanced cooling equipment offering data monitoring in real-time to reduce energy bills will also propel product sales over the forecast period.

Cooling Meters Market Analysis

Global Cooling Meters Market Share By Technology

Cooling meters market value from the mechanical technology segment is expected to cross USD 490 million by 2032, given the efficient design, accurate measurement, cost-effectiveness, and other advantages. Manufacturers have also been emphasizing the development of user-friendly and efficient mechanical cooling meter offerings. In contrast to mechanical meters, smart meters hold remote reading capabilities without the use of add-on devices. The rising acceptance of advanced metering solutions may thus limit mechanical meter usage to a certain extent.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of cooling meters surpassed USD 1.25 billion in 2023 and is set to depict over 6% gains through 2032, given the increasing installation of clean energy systems to address global energy crises.

The vortex segment will register over 6% CAGR between 2023 to 2032, due to the non-requirement for an electric power supply, among other attributes.

The North America market valued at more than USD 460 million in 2022, on account of the introduction of supportive norms to expand sustainable building infrastructure.

Key players in the global industry are Smartdhome Srl, Integra, RB Flowmeter, Xylem, Siemens, Secure Meters Ltd., Axioma Metering, Sontex SA, Honeywell International Inc., Schneider Electric, Landis+Gyr, and Kamstrup, among others.

Cooling Meters Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 844
  • Countries covered: 18
  • Pages: 400
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