Smart Gas Metering Systems Market size to exceed $11bn by 2024
Published Date: April 5, 2017 Author: Global Market Insights, Inc.
Smart Gas Metering Systems Market size will exceed USD 11 billion by 2024; according to a new research report by Global Market Insights, Inc.
Rising demand for billing accuracy coupled with effective mapping of customer consumption pattern will boost the global smart gas metering systems market growth. Scarcity of available resources will exert additional pressure on the conservation measures adopted to control energy wastage.
Smart gas metering systems market size from Automated Metering Infrastructure (AMI) technology is set to exceed 30 million units by 2024. Adoption of AMI systems are low subject to high installation costs associated. Automatic Meter Reading (AMR) systems will see strong gains owing to widespread adoption of the technology for the past two decades. However, data security concerns related to consumption tracking coupled with customer unwillingness are significant challenges to growth.
U.S. smart gas metering systems market size is projected to witness robust growth owing to strict regulations mandated by American Recovery and Reinvestment Act (ARRA) towards accurate billing coupled with rising adoption of meters. In 2009, ARRA in association with the Department of Energy (DOE) invested more than USD 30 billion to encourage a wide range of clean energy projects across the nation including smart grid enhancement to reduce energy costs.
Japan is a mature market as it was among the first nations in the world to adopt these systems. Tokyo Gas, one of largest gas providers in the country, has nearly 2 million subscribers and has been providing these products since 1998.
Browse key industry insights spread across 200 pages with 304 market data tables & 9 figures & charts from the report, “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) Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents, please click on the link below:
Strict regulations towards smart system deployment to accurately track gas consumption will stimulate demand. EU Directive 2009/73/EC mandates member states to educate consumers on the difference between conventional metering systems and intelligent meters. The directive also requires regulators to protect customers from increased rates owing to time-of-use pricing data and ensuring billing accuracy.
UK accounted for over 15% of the Europe smart gas metering systems market share in 2016. Favorable directives set by the Office of Gas and Electricity Markets (OFGEM) and the Department of Energy and Climate Change (DECC) will complement demand. Government of UK aims to install advanced meters in every household by 2020.
Residential smart gas metering systems market dominates the application landscape, owing to affordable gas prices and growing consumer awareness. Commercial applications are anticipated to witness strong growth during the forecast timeframe subject to rising adoption of gas as an alternative to traditional resources. Increasing demand for these products is directly linked to the developing grid infrastructure coupled with expansion of gas pipeline networks.
Notable players in the smart gas metering systems market include Itron, Siemens, Landis+GYR, Schneider Electric, Circutor, Sensus Sentec, Icsa, Iskraemeco, Holley Metering, Honeywell International, Osaki Electric, Elster Group, Neptune and Badger Meter.
Smart Gas Metering Systems research report includes in-depth coverage of the industry with estimates & forecast in terms of volume and revenue from 2013 to 2024, for the following segments:
Global Smart Gas Metering Systems Market, By Application
Global Smart Gas Metering Systems Market, By Technology
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- Latin America