Smart Gas Metering Systems Market Size By Application (Residential, Commercial, Utility), By Technology (AMR, AMI), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK, Sweden, Portugal, China, Japan, South Korea, India, Australia, UAE, Saudi Arabia, South Africa, Lebanon, Egypt, Mexico, Brazil, Uruguay, Argentina) Application Potential, Competitive Market Share & Forecast, 2017 – 2024
Published Date: March 2017 | 200 Pages | Report ID: GMI1234 Report Format: PDF
Smart Gas Metering Systems Market size was valued over USD 5 billion in 2016 and is set to exceed 190 million units by 2024.
U.S. Smart Gas Metering Systems Market Share (Revenue), By Application, 2016
Increasing consumption of gas coupled with rising energy prices will drive the global smart gas metering systems market over the forecast timeline. Growing adoption of these products in residential and commercial applications will propel the industry growth. For instance, in 2009, the Open Public Extended Network (OPEN) metering plan was adopted by the EU with a view to regulate gas usage and provide freely available data with maximum transparency. OPEN meter is a European collaborative project formed in accordance with the Seventh Framework Programme (FP7) with the aim to develop smart gas metering systems market standards, which have been fully achieved since its inception.
Strict government norms towards energy management with growing measures towards efficient consumption tracking will augment the smart gas metering systems market. EU regulation 2009/73/EC states that member countries need to conduct a feasibility test to check the cost benefit associated with a large-scale rollout of these products. Regions with favourable results enforced a mandatory adoption law to control and restrict the wastage of LNG, positively impacting business landscape.
In 2013, the EU Gas Directive mandated rollouts in Ireland, UK, Italy and the Netherlands with an aim of installing over 50 million gas meters by 2020, while France is expected to install over 10 million of these products. Development of gas pipelines network coupled with investments towards smart grid infrastructure will foster the smart gas metering systems market growth. Cybersecurity and health issues relating to adoption of these products may restrain industry growth.
Smart Gas Metering Systems Market, By Application
Increasing adoption of these products in commercial and utility establishments owing to the rising need for accuracy in billing may positively impact the industry outlook. Commercial applications for 2016 accounted for more than one third of the global smart gas metering systems market share and is set to witness handsome growth by 2024. Effective allocation of resources can be achieved by efficiently tracking the consumption, which will boost the product adoption in coming years.
Smart gas metering systems market size for 2016 from residential applications was valued over USD 1 billion and is predicted to witness robust growth owing to increasing consumer awareness towards efficient energy management. Installation of prepaid systems encourages timely payments from the customers as the suppliers can restrict consumption when the recharge amount is exhausted.
Utility applications accounted for over 30% of the global smart gas metering systems market share in 2016, owing to the large-scale consumption by end use industries. These products are adopted by utility establishments with a view to effectively map the fuel consumption.
Smart Gas Metering Systems Market, By Technology
Global smart gas metering systems market share from Automatic Meter Infrastructure (AMI) is set to witness growth over 10% over the forecast timeline. Technological advancement coupled with high prices has led to low penetration of these products. Regulators are shifting focus to AMI as part of the smart grid initiative undertaken to upgrade the existing infrastructure. AMR were designed to be self-sustaining although there is scope to accommodate evolving technologies including IP-based systems which will offer future interoperability with AMI.
Smart gas metering systems market size from advanced meter reading (AMR) is predicted to exceed 150 million units by 2024, owing to high adoption at affordable prices coupled with better availability of the product. AMI enhances the AMR technology currently used, by offering two-way meter communication, allowing meter owners receive notifications including differential pricing information, remote service disconnection, or demand response actions.
Smart Gas Metering Systems Market, By Region
Asia Pacific is anticipated to be a promising region in the global smart gas metering systems market and will witness robust growth by 2024. China registered an unprecedented volume of smart meters’ installations in 2015, after the National Development and Reform Commission (NDRC) introduced ladder pricing for residential users and time-of-use price structure for commercial and utilities users. Ladder pricing is differential prices which increases with consumption. Time-of-use is differential pricing per the time, which is divided into three broad categories – Valley, off peak, and peak times. Peak hour prices are up to twice of valley hour prices to curb unnecessary consumption of resources.
U.S. smart gas metering systems market size is set to exceed USD 2 billion in 2024. Increasing adoption of gas as a fuel in commercial and utility applications owing to low prices and low emission levels will positively impact the business growth. In 2014, the U.S. Department of Transportation Maritime Administration introduced stringent regulations to curb marine pollution caused by vessels using non-renewable fuels, positively influencing the industry outlook.
Sweden was among the first countries to roll out these products for customers in 2009, achieving 100% installations in the same year. Consumers have access to billing records and database, providing transparency and better accountability for merchants. Italy followed Sweden, achieving full capacity installations in 2013. Italy in 2016 accounted for over 10% of the Europe smart gas metering systems market share.
Competitive Market Share
Global smart gas metering systems market participants include Siemens AG, Itron, Schneider Electric SA, Landis+GYR, Icsa Ltd, Circutor SA, Holley Metering, Iskraemeco, Osaki Electric, Honeywell International, Elster Group, Badger Meter, Sensus Sentec, Neptune Technology.
In July 2015, Honeywell signed a Memorandum of Understanding (MoU) to acquire the Elster Division of Melrose Group, a thermal gas solutions provider for industrial, commercial and residential heating systems.
Smart Gas Metering Systems Industry Background
Increasing pollution and emission control measures mandated by numerous government and autonomous organizations will positively impact the business growth. Every year the government exchequer loses millions of dollars’ worth of revenue owing to poor and inaccurate tracking systems for its resources. Growing awareness among consumers regarding effectiveness of tracking devices will positive drive the smart gas metering systems market growth.
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