Smart Gas Meter Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of the Smart Gas Meter Market

The Smart Gas Meter market size was valued at USD 6.76 billion in 2018, and the market is now projected tgrow from USD 6.76 billion in 2018 tUSD 15.12 billion by 2032, exhibiting a CAGR of 5.94% during the forecast period of 2019-2032.

The COVID-19 pandemic had a blended impact on the Smart Gas Meter market growth. Initial disruptions in delivery chains, manufacturing, and project delays because of lockdowns and workforce shortages hindered market increase. Many utilities and industries deferred new installations tthe consciousness of vital operations. However, the growing emphasis on digitalisation and faraway tracking during the pandemic elevated the adoption of smart fuel meters tallow contactless operations and enhance efficiency. Additionally, government projects tmodernise utility infrastructure and a growing call for strength and efficiency supported the marketplace's healing as industries and production activities resumed. The shift in the direction of smart metropolis projects further bolstered lengthy-time period growth prospects for the marketplace.

Operational blessings along with the elimination of noting month-to-month analysis manually, continuous tracking of the pipeline, availability of real-time facts, and preciseness in operation will pressure the adoption of clever fuel metering. Also, the cost financial savings added in conjunction with the only-time investment in the clever meter will pressure the marketplace increase. Along with the benefits supplied tthe gas organisations, the clever gasoline meter additionally has sure benefits for clients that encompass adjusting the user tgovern the monthly bills, distinctive feedback regarding electricity use, and reducing the wide variety of gadget failures. Such factors are anticipated tdraw excessive Smart Gas Meter market share revenue inside the forecast length.

Additionally, in step with a survey on power intake conducted with the aid of Smart Energy GB in the UK, 86% of human beings having clever meters established in their homes have made significant modifications ttheir strength-saving behaviour. These behavioural adjustments in power assist in delivering down strength emissions, and as a result, selling the clever gasoline meter market increases.

Comprehensive Analysis of the Smart Gas Meter Market

The clever fuel meter marketplace is segmented via type and application. By kind, it consists of car meter studying and superior metering infrastructure (AMI), with AMI gaining prominence due toperational benefits such as two-way communique between gas groups and clients, riding its adoption globally. By software, the market is split intresidential, business, and business sectors, with the residential section leading due tthe growing shift from fossil fuels tgasoline for family use, supported via authorities incentives and subsidies. Smart fuel meters additionally enhance transparency in tariffs, sell power performance through figuring out areas of high intake, and assist in lessening power losses, further riding their adoption across all sectors.

Asia Pacific stands as one of the most important areas for the clever fuel meter marketplace increase. China maintains a robust function within the clever gas meter market proportion in Asia Pacific. The U.S. Witnessed an awesome fulfilment with its smart electric-powered meters rollout. Following this, the Chinese authorities are now searching ahead tduplicate the same in clever gas meter installations countrywide.

Key gamers inside the smart fuel meter market include ABB (Zurich, Switzerland), GE (General Electric) (USA), Siemens (Germany), Landis Gyr (Switzerland), Honeywell (Charlotte, North Carolina, USA), Kamstrup (Skanderborg, Denmark), Itron, Inc. (USA), Xylem Inc. (USA), Aclara (St. Louis, Missouri, USA), and Secure Meter Limited (India). These organisations are at the leading edge of developing revolutionary, clever gasoline metering solutions tbeautify performance and meet growing demand worldwide.

In April 2019, OVO Electricity signed a settlement with Aclara Technologies for the implementation of its new SMETS2 meter. Through that meter, OVO strength is set tprovide its gas and electric meter with a twin fuel clever metering carrier. This circulation comes in with the goal of modernising the grids and complying with the UK’s clever meter rollout software.

Segmentation Table

Global Smart Gas Meter Market Scope

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Growth Rate CAGR of 5.94% from 2024-2032

Historical Period 2015-2017

Unit Value (USD Billion)

Segmentation By Type, application, and Region

By Type

Advanced Metering Infrastructure

AutMeter Reading

By application

Residential

Industrial

Commercial

By Region

North America (the U.S. and Canada)

Europe (Italy, Turkey, Spain, Netherlands, France, Germany, UK, Ukraine, Russia, and the Rest of Europe)

Asia Pacific (China, South Korea, Japan, India, Australia, Thailand, and the Rest of Asia Pacific)

Latin America (Brazil, Mexico, Argentina, Venezuela, and the Rest of Latin America)

Middle East & Africa (Egypt, GCC and the Rest of the Middle East & Africa)