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Heat Meter Market size worth over $3.6 Bn by 2030

  • Published Date: April 29, 2022

Heat Meter Market size is projected to surpass USD 3.6 billion by 2030, as reported in the latest study by Global Market Insights Inc.
 

Rising investments for infrastructure development along with increasing focus towards the adoption of renewable based heating systems is driving the heat meters industry growth. Ongoing technological advancements to provide accurate data measurement in line with rapid expansion of enhanced & sustainable energy systems will boost the market growth. Moreover, rising government policies to focus on the installation of clean energy devices combined with consumer inclination towards the adoption of advanced units will fuel the industry scenario.
 

Growing demand for sustainable heating systems

Ultrasonic heat meter market is anticipated to showcase gains of about 3% till 2030. The growing demand for green alternatives comprising hybrid technologies coupled with consumer inclination towards innovative heating systems will sway the market trends. High accuracy, dirt resistance, reliable operation in line with low energy consumption will positively influence the product penetration. However, development of advanced & sustainable heating infrastructure to cater the requirement of real-time monitoring of heat consumption patterns and reduced costs of heat metering systems will positively accelerate the industry outlook.
 

Browse key industry insights spread across 300 pages with 523 market data tables & 36 figures & charts from the report, “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, Competitive Market Analysis & Forecast, 2022 – 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/heat-meters-market

 

Increasing technological advancements coupled with rapid urbanization

The mechanical meters market is poised to witness growth rate of around 3% through 2030. Customized billing methods for quantifying heat consumption combined with accurate & reliable measurement in real time will stimulate the market revenue. The government incentives policy framework for green energy buildings and escalating demand for the decentralized heat-generating systems will foster the product penetration.
 

Adoption of sustainable energy systems and stringent government norms to minimize rising GHG emissions in North America

North America heat meter market is predicted to grow at 5% CAGR up to 2030. Ongoing regulatory norms pertaining the adoption of advanced heat metering systems combined with increasing focus towards development of manufacturing facilities will complement the market demand. Government norms & policies coupled with rising expenditure towards the expansion and adoption of smart heating systems will propel the business scenario. Furthermore, increasing research & development activities focusing on the large-scale utilization of heat meters for efficient energy management will garner the industry dynamics.
 

Growing consumer inclination towards sustainable energy-efficient heating systems

The covid-19 crisis had slightly influenced the heat meters industry owing to the decline in manufacturing & production facilities due to government-imposed lockdowns. However, considerable slowdown of covid-19 cases and relaxation in the lockdowns have spur the industry growth. Additionally, the industry will regain its strength on account of increasing infrastructure and shifting focus towards sustainable heating system.
 

Strategic partnerships across leading players along with the introduction of advanced technological solutions

The major companies in the heat meters market includes Apator, Sensus, Micronics, Axioma, Secure Meters, Huizhong, MWA, Weihai Ploumeter, Sontex, WECAN, Kamstrup, Engelman, Landis+Gyr, Diehl, Siemens, Danfoss, Itron, Qundis, Techem, Ista and Zenner. The prominent players across industry are focusing on technological innovations in line with mergers & joint ventures with technology providers.
 

Authors: Ankit Gupta, Srishti Agarwal