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Heat Meters Market Size - By Product (Ultrasonic, Vortex), By Technology (Mechanical, Static), By Application (Residential, Commercial [College/University, Office Buildings, Government Buildings], Industrial), & Forecast, 2024 – 2032

  • Report ID: GMI2597
  • Published Date: Oct 2023
  • Report Format: PDF

Heat Meters Market Size

Heat Meters Market was valued at more than USD 3.28 billion in 2023 and is projected to observe 5.3% CAGR during 2024 to 2032. Increasing concerns about energy consumption and environmental sustainability along with precise billing and energy conservation will spur the demand for heat meters. These devices are commonly employed in various applications, including district heating and cooling systems, industrial processes, and residential and commercial buildings.
 

Heat Meters Market

Ongoing development of innovative metering solutions delivering smart features coupled with continuous technological advancements will accelerate the industry dynamics. For instance, in June 2022, BMETERS Srl introduced HYDROCAL-M4, a compact energy meter for heating and cooling applications. The product integrates advanced communication protocols delivering improved performance. Thereby, development of favorable strategies, norms and mandates to promote use of sustainable solutions to provide heating across utilities will complement the business potential.

COVID- 19 Impact

The COVID- 19 pandemic has had a substantial impact on the sector owing to rigorous government regulations, impacting the socio economic activities. However, a continuous decline in the emissions levels have created an urge across the private & public sectors to adopt sustainable energy solutions, thereby enhancing the development of district heating networks, in turn positively influencing the product demand.

 

Heat Meters Market Trends

Key features consisting of communication capabilities, real-time monitoring, remote data collection, and advanced analytics along with manufacturers adapting their products to comply with regulatory mandates and standards will augment the product penetration. Growing investment across private and public sectors coupled with reduced energy costs, low energy consumption, long-term stability, and flexibility will enhance the product demand.

 

Heat Meters Market Analysis

Heat Meters Market Size, By Product, 2021 - 2032 (USD Billion)

Based on product, the ultrasonic heat meters industry revenue to cross USD 3.5 billion by 2032. Major players are focused to integrate advanced technologies and calibration techniques, improve system flexibility and efficiency to comply with measuring instruments directives, thereby enhancing the industry trend. Furthermore, rising demand for accurate and low maintenance meters for energy distribution networks to maintain billing and optimization will drive the business scenario.

 

Heat Meters Market Revenue Share, By Technology, 2022 (USD Million)

Mechanical heat meters market is estimated to showcase about 3.5% growth rate from 2023 to 2032. Surging requirement to track energy usage across family house, multifamily apartments and commercial buildings coupled with reduced energy consumption billings will accelerate the product demand. Simple design, high accuracy and reduced energy costs are some of the key features which will augment the product penetration. In addition, rising research and development activities coupled with favorable government investments to augment sustainable district heating solutions will fuel the industry dynamics.

 

Based on application, the commercial heat meters accounted for USD 1.2 billion in 2022. Growing district heating networks across commercial establishments including offices, hotels, college or universities and government buildings will positively impact the business statistics. The major players are focused to development systems complying with stringent requirements along with rising consumers shift to adopt advanced solutions delivering optimized and accurate billings will complement the industry potential. Robust development of real state and service sector have resulted in the expansion of urban areas, thereby accelerating the product demand.

 

 Asia Pacific Heat Meters Market Size, 2021 - 2032 (USD Billion)

Asia Pacific heat meters market is projected to expand at around 3% CAGR from 2023 to 2032. Continuous research and development activities by major institutes along with strategic private-public sector partnerships to advance energy management systems will boost the product demand across North America. Shifting consumer trends to reduce energy cost across houses along with favorable development of various district heating projects will complement the product demand across the region. In addition, ability to reduce energy consumption, optimize bills and enhance revenue management will benefit the business statistics.

 

Heat Meters Market Share

Eminent players operating in the heat meters industry are:

  • Danfoss
  • Axioma Metering
  • Landis+Gyr
  • ZENNER International GmbH & Co. KG
  • Micronics Ltd
  • Secure Meters Ltd.
  • Apator S.A.
  • ista Energy Solutions Limited
  • Sontex SA
  • Siemens
  • Kamstrup
  • Diehl Stiftung & Co. KG
  • BMETERS Srl
  • Schneider Electric
  • Itron Inc.
  • QUNDIS GmbH
  • WEIHAI PLOUMETER CO., LTD
  • Huizhong Instrumentation Co., Ltd.
  • Smartdhome Srl
  • RB Flowmeter
  • Xylem
  • Honeywell International Inc.
     

Heat Meters Market News

  • In January 2022, Diehl Metering Sweden signed a contract agreement with Sinfra heating network, a purchasing agency, the framework agreement is primarily for the heating & cooling energy meters products which will consolidate the company’s presence in the Swedish market.
     
  • In September 2021, Axioma Metering introduced MID approved ultrasonic heat and cooling meter Qalcosonic E4, into the market and started accepting its commercial orders. It is available in sizes DN15, DN20 and DN32. The company’s innovation with competitive pricing and latest technology has strengthen up its position across the international market.

     

This market research report on heat meters includes in-depth coverage of the industry with estimates & forecast in terms of “ ‘000 Units & USD Million “ from 2023 to 2032 for the following segments:

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By Product

  • Ultrasonic
  • Vortex
  • Others

By Technology

  • Mechanical
  • Static

By Application

  • Residential
    • Shower
    • Dishwashing
    • Washing Machine
    • Others
  • Commercial
    • College/university
    • Office buildings
    • Government buildings
    • Others
  • Industrial

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Poland
    • Sweden
    • Denmark
    • Finland
    • Russia
    • Italy
    • UK
    • Norway
    • Czech Republic
    • Estonia
    • Latvia
    • Lithuania
    • Switzerland
    • Austria
    • Spain
  • Asia Pacific
    • China
    • Japan
    • South Korea
  • Rest of World

 

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market valuation of heat meters was worth more than USD 3.28 billion in 2023 and is anticipated to reach USD 5.17 billion by 2032.

The ultrasonic heat meters market will cross USD 3.5 billion by 2032, owing to focus among manufacturers to integrate advanced technologies and calibration techniques, improve system flexibility and efficiency to comply with measuring instruments directives.

Mechanical heat meters market is anticipated to record over 3.5% CAGR from 2023 to 2032, owing to the surging requirement to track energy usage across family house, multifamily apartments and commercial buildings, coupled with reduced energy consumption billings.

Danfoss, Axioma Metering, Landis+Gyr, ZENNER International GmbH & Co. KG, Micronics Ltd, Secure Meters Ltd., Apator S.A., ista Energy Solutions Limited, Sontex SA, Siemens, Kamstrup, Diehl Stiftung & Co. KG, BMETERS Srl, Schneider Electric, Itron Inc., QUNDIS GmbH, WEIHAI PLOUMETER CO., LTD, and Huizhong Instrumentation Co., Ltd.

Heat Meters Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 22
  • Tables & Figures: 705
  • Countries covered: 21
  • Pages: 350
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