Europe Heat Meters Market size to exceed $848mn by 2027
Published Date: September 27, 2021 Authors: Ankit Gupta, Srishti Agarwal
Europe Heat Meters Market size is projected to surpass USD 848 Million by 2027, as reported in the latest study by Global Market Insights Inc.
The Europe heat meters industry is anticipated to witness a significant growth owing to extreme climatic circumstances together with unfavorable working conditions owing to low temperature. Strict government regulations pertaining to the decarbonization of buildings along with large scale utilization of energy-efficient and clean technology will propel the industry outlook.
Rising requirements for individual metering systems across residential establishments along with an increasing demand for efficient energy management systems will fuel the heat meters industry growth. Cost-saving, billing accuracy, communication options, and monitoring of energy consumption are prominent factors, which will boost product adoption. The ongoing upsurge for accurate and reliable metering systems together with the deployment of Internet of Things (IoT) platforms is estimated to foster the product installation.
Adoption of advanced and automated building technologies fueling the static heat meters industry growth
Europe heat meters market from static technology is projected to register over 6% CAGR through 2027, owing to the rising adoption of automated and advanced building technologies coupled with the ongoing expansion of commercial and industrial facilities across emerging nations. The high data precision recording method along with escalating demand for trigeneration technologies will boost product installation.
Browse key industry insights spread across 200 pages with 273 market data tables & 27 figures & charts from the report, “Europe Heat Meters Market Statistics By Product (Ultrasonic, Vortex), Technology (Mechanical, Static), Application (Residential, Commercial, Industrial), Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Adoption of sustainable building codes is set to drive the commercial heat meter market growth in Europe
Europe heat meters market from commercial application is estimated to witness significant growth owing to the adoption of combined heating & cooling enhanced technologies and growing implementation of sustainable building standards and codes. Surging investments toward the development and expansion of residential infrastructure will strengthen product installation. Continuous expansion of advanced & improved energy-efficiency solutions, energy management systems, and efficient heating infrastructure will accelerate product penetration.
Government financial schemes and development of commercial establishments to drive the market size in Sweden
The Sweden heat meters market is set to witness growth on account of the rising development of industrial and commercial establishments and favorable government financial initiatives and schemes for the adoption of units. The District Heating Act in Sweden mandates the delivery of district heating connectivity and price information to customers; thereby favoring the installation of smart heat meters across the nation. Presently, over 54% of the power in Sweden is generated from renewables with binding targets to achieve 100% renewable energy production by 2040.
The COVID- 19 pandemic hit the global economy in an unprecedented manner. The pandemic resulted in strict lockdowns by respective governments of several nations and further lead to imposed curfews due to the rising number of patients. Several industries have ceased production activities owing to labor shortages and discontinued manufacturing machinery. The construction of healthcare establishments including quarantine centers and hospitals to cater to the requirements of the healthcare industry may hamper product deployment.
Key players working across the region are aiming toward strengthening their market share through strategic collaborations, joint ventures, and partnerships. Technological advancements and product upgradation are the primary factors complementing the business outlook. Eminent participants across Europe heat meters market include Zenner, Danfoss, Itron, Axioma, Micronics, Apator, Secure Meters, Sontex, Siemens, Kamstrup, B Meters, Schneider Electric, Diehl, and Landis+Gyr amongst others.