Smart Gas Metering Systems Market Size By Application (Residential, Commercial, Utility), By Technology (AMR, AMI), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2017 – 2024
Published Date: Mar 2018 | Report ID: GMI1234 | Authors: Ankit Gupta, Aditya Singh Bais
Smart Gas Metering Systems Market size surpassed USD 1 billion in 2016 and is poised to register over 21% growth between 2017 and 2024. Growing measures toward energy conservation coupled with increasing fuel prices will boost the market revenue. The incessant need for billing accuracy & enhanced customer service has further instigated a favourable business scenario toward the adoption of these systems.
Stringent government norms toward energy management along with mandatory nationwide rollout programmes pertaining to environmental sustainability will propel the smart gas metering systems industry share. Government legislations mandating the adoption of smart meters as a part of comprehensive energy conservation initiatives will further provide a stimulus to the market growth.
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The rising need to eliminate losses during distribution of gas along with need to reduce the operational expenditure of conventional metering systems will drive the market size. Increasing investments toward smart grid infrastructure coupled with ongoing expansion of gas pipelines network will further augment the business growth.
|Base Year:||2016||Market Size in 2016:||1 Billion (USD)|
|Historical Data for:||2013 to 2016||Forecast Period:||2017 to 2024|
|Forecast Period 2017 to 2024 CAGR:||21.2%||2024 Value Projection:||9 Billion (USD)|
|Pages:||241||Tables, Charts & Figures:||353|
|Geographies covered (24):||U.S, Canada, Germany, UK, France, Sweden, Italy, Portugal, Netherlands, Luxembourg, Japan, China, South Korea, India, Australia, UAE, Saudi Arabia, South Africa, Lebanon, Egypt, Mexico, Brazil, Uruguay, Argentina|
|Segments covered:||Application, Technology and Region|
|Companies covered (14):||Honeywell Elster, Osaki, Itron, Landis+Gyr, Sensus, Aclara Technologies LLC, Badger Meter, Inc., Siemens, Schneider Electric SE, Apator, Raychem RPG, Dandong Dongfa (Group) Co. Ltd., Neptune Technology Group, Inc., Diehl Metering|
|Pitfalls & Challenges:||
Market by Application
Commercial segment for 2016, accounted for over 30% of the global market share. Increasing consumer focus toward energy savings during peak hours will positively influence the industry outlook. Installation of advanced meters to reduce energy bills and effectively map fuel consumption will further fuel the product demand.
Introduction of nationwide rollout plans and directives toward replacement of conventional meters across residential will positively impact the market size. Shifting focus toward construction of smart homes with positive outlook toward management of energy usage will further facilitate the product adoption.
Market by Technology
Automated Meter Reading (AMR) segment will dominate the market share on account of their high adoption with regard to affordable prices. AMR is a conventional technology that facilitates one-way communication by collecting energy consumption and transferring the data from end consumer to the utility.
Smart gas metering systems market share from Advanced Metering Infrastructure (AMI) is set to witness around 20% CAGR through 2024. AMI technology allows utilities to enhance their customer relationship and actively engages the customers in their consumption decisions with real-time access to the usage information. Shifting focus to AMI technology as a part of the smart grid initiative will further propel the product demand.
Market by Region
Europe smart gas metering systems industry will grow at a substantial rate owing to government directives and mandated rollout programs across various countries. Increasing measures toward optimization of operational efficiencies of gas utilities and access to billing records will positively influence the business outlook.
Increasing energy prices and consequent growing consumer interest toward billing transparency & accuracy will stimulate the U.S. market value. Low emission levels and cost-effective prices are some of the imperative parameters that will stimulate the adoption of these meters across the utility and commercial sectors.
China smart gas metering systems market will witness gains at over 25% during the forecast period. The introduction of favourable government initiatives along with growing consumer inclination toward intelligent metering systems will fuel the industry demand.
Rapid urbanization and increasing concerns for theft protection will stimulate the MEA market size. An array of projects and initiatives undertaken by government authorities for facilitating the deployment of intelligent systems will further propel the market demand.
Competitive Market Share
Eminent industry players include Honeywell International, Badger Meter, Siemens, Itron, Osaki, Landis+Gyr, Aclara Technologies, Sensus, Raychem, Apator, Schneider and Diehl Metering among others.
Strengthening voluntary industry initiatives by several global manufacturers are also compelling national governments to establish minimum operational requirements and introduce incentives for the adoption of advanced metering solutions.
Smart gas meters work with an integrated smart energy monitor to provide operational flexibility and effectively track the consumption and associated costs. These meters can feasibly track and modulate the consumption of gas and are designed to calculate the overall consumption and supply costs to ensure cost benefits and curb the wastage of energy.
The smart gas metering systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2013 to 2024, for the following segments:
The above information is provided on a country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- Latin America
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