Heat Meters Market Size By Product {Ultrasonic, Vortex}, By Technology (Mechanical, Static), By Application (Residential, Commercial {College/University, Office Buildings, Government Buildings}, Industrial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

Industry Drivers

Heat Meters Market size exceeded USD 2.8 billion in 2021 and is projected to observe 4% CAGR between 2022 and 2030. Global shipments are anticipated to cross 9.2 million units by 2030.
 

Strong global electricity demand has led to grid strains, with new regulations and clean energy sources adding to the complexity. Smart energy meters are emerging as a definitive solution to these challenges. This can be attributed to their substantial benefits including low commercial losses, energy theft detection, and enhanced revenue management. Smart metering also allows customers to keep track of energy use and optimize consumption.
 

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Rising government initiatives to achieve climate goals and high spending to boost energy efficiency are some of the prominent trends in the heat meters market. According to the IEA Sustainable Recovery Tracker’s Autumn 2021 update, energy efficiency-related investments represent nearly two-thirds of the USD 400 billion per year mobilized by governments with recovery measures in the next 3 years. This strong focus on sustainability will bolster the smart energy meter demand and expedite the heat meters industry development.
 

Risks of data loss may hinder the heat meters market development

Data infringement is one of the major concerns pertaining to heat meter usage. Significant implications from cyber threats are associated with these meters. Breaches or data theft can allow attackers to gain access to sensitive personal data regarding users. As a result, the industry may witness roadblocks, mainly due to the risks of fraud subject to security vulnerability and growing privacy concerns among heat meters consumers.
 

Advanced heating infrastructure development to spur the ultrasonic segment

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The ultrasonic segment registered considerable revenue in 2021 and is slated to depict a growth rate of nearly 4% through 2030. Smart technologies and energy-efficient systems are gaining widespread adoption. There has also been rapid development in sustainable and advanced heating infrastructure to cater to heat metering systems. Ultrasonic heat meters can ensure high accuracy, low energy consumption, and dirt resistance. With the growing consumer inclination towards advanced heating equipment that can accommodate the burgeoning need for real-time heat consumption monitoring, the popularity of ultrasonic meters will rise considerably.
 

Smart metering unit demand will favor the static technology

The rising popularity of efficient and sustainable heat management systems offering real-time data monitoring will drive the demand for static heat meters. The static heat meters market size was valued at over USD 3 billion in 2021, attributable to its substantial usage benefits including accurate data measurement and flexible and reliable operations. This technology also ensures lower energy consumption, stable operation, and automated billing technologies. The high preference for smart meters among consumers will stimulate demand for static heat meter technology.
 

Rapid urbanization and industrialization to push the residential segment

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The commercial segment to amass considerable profits by 2030, given the rapid urbanization and industrialization across the globe. Government bodies are increasingly making investments in efficient heat meters to reduce greenhouse gas emissions. These factors, alongside the increased adoption of individualized billing systems and energy consumption optimization, will strengthen the demand for heat meters in the commercial sector.
 

Rising demand for district heating in APAC Region

The Asia Pacific heat meters market is poised to register a growth rate of 2.4% through 2030. The region expanding a major upsurge in demand for district heating services. Favorable government initiatives such as incentives and subsidies to boost the adoption of automated and advanced heating systems are also being introduced. Driven by increasing government support, alongside growing investments in heating infrastructure developments, the Asia Pacific will emerge as a key hub for heat meters manufacturers.
 

Business footprint expansion strategies to shape the global industry landscape

The prominent companies partaking in the global heat meters market share include BMETERS, Diehl, Kamstrup, Siemens, Sontex, ista Energy Solutions, Apator, Secure Meters, Micronics, Zenner International, Landis+Gyr, Axioma Metering, and Danfoss, among others. These firms are adopting strategies such as partnerships, joint ventures, and product line expansions to enhance their presence in the global market.
 

Impact of COVID-19 on the heat meters market Trends

The COVID-19 disruption has been a key factor resulting in the slowdown of progress towards universal energy access. According to the UN’s Tracking SDG 7: The Energy Progress Report’s 2022 edition, 733 million global people still have no access to electricity. However, the gradual recovery from the crisis and the accelerated usage of renewable energy sources, among other factors, are generating access to sustainable and modern energy systems. These factors could stimulate the installation of smart metering systems and consequently foster global heat meters industry development.
 

The heat meters market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” & “USD Million” from 2018 to 2030, for the following segments:

Market, By Product

• Ultrasonic
• Vortex
• Others

Market, By Technology

• Mechanical
• Static

Market, By Application

• Residential
• Commercial
• 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