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Cooling Meters Market worth over $2 Bn by 2032

  • Published Date: March 9, 2023

Cooling Meters Market size is set to surpass USD 2 billion by 2032, according to a new research report by Global Market Insights Inc.

Growing concern about global warming and increased efforts to promote district cooling will augment the demand for cooling meters. Government bodies are undertaking several initiatives to mitigate carbon emissions and foster reliance on sustainable cooling systems with low power consumption, thereby bolstering the use of district cooling meters. Key manufacturers have also been targeting to develop cooling systems with low commercial loss and energy theft detection features. This expansion of smart and efficient cooling infrastructure will thus complement the industry outlook.

Ultrasonic cooling meters to gain traction due to accuracy & stable operation features

In terms of product, the cooling meters market value from ultrasonic segment is anticipated to reach over USD 1 billion by 2032, on account of benefits such as high accuracy and stable operation. These cooling meters also offer the most advanced energy measurement using state-of-the-art ultrasonic flow measurement technology. These quality meters also have the highest accuracy and longest lifetime values. The report further indicates that the minimum wear and tear effects, low energy consumption, dirt resistance, and non-intrusive design benefits will positively impact the sales of ultrasonic cooling meters.

Emphasis on building automation & sustainability drives the use of static cooling meters

The static technology segment reached around USD 900 million in 2022. This growth is credited to enhanced operational reliability and flexibility, low energy consumption, automated billing systems, and stable operation, among other advantages. There has been growing awareness about the ability of fully automated building operations to generate significant energy savings. The report claims that these factors will further amplify the usage of static cooling meters since they cover a range of flows for all applications in building automation or district cooling.

Browse key industry insights spread across 400 pages with 814 market data tables & 30 figures & charts from the report, “Cooling 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, Application Potential, Price Trends, Competitive Market Share & Forecast, 2023 - 2032”, in detail along with the table of contents:

Rising F&B facility construction will proliferate cooling meter adoption in industrial plants

Industrial cooling meters market is slated to exhibit nearly 7% CAGR from 2023 to 2032, considering the rapid industrial expansion and the strong focus on energy distribution network optimization. In 2021, the food and beverage sector, for example, was among the top three manufacturing industries, with several U.S. states announcing the establishment of new food production plants. Additionally, the increasing awareness of minimized production costs will amplify the installation of cooling meters across industrial facilities.

Inclination toward eco-friendly & advanced district cooling solutions to spur meter usage in MEA

Middle East cooling meters market is predicted to register more than 6% growth rate through 2032, driven by the growing demand for environment-friendly energy solutions. Owing to extreme weather conditions, consumers are also inclined toward adopting advanced cooling solutions. As per the report, partnership agreements between private and public sectors to develop innovative metering solutions for district cooling applications will create lucrative growth prospects for manufacturers of cooling energy meters in the region.

Advanced product launches to remain a major growth strategy among industry participants

Key participants operating in the global cooling meters market are RB Flowmeter, ZENNER International GmbH & Co. KG, Axioma Metering, Smartdhome Srl, Integra, Xylem, Siemens, Secure Meters Ltd., Itron Inc., Danfoss, Sontex SA, Honeywell International Inc., Schneider Electric, Diehl Stiftung & Co. KG, and Landis+Gyr. These companies are incorporating varied strategies such as advanced product developments, mergers, and acquisitions to boost their foothold in the global industry.

Authors: Ankit Gupta, Srishti Agarwal