Europe Heat Meters Market Size By Product (Ultrasonic, Vortex), By Technology (Mechanical, Static), By Application (Residential, Commercial, Industrial), COVID-19 Impact Analysis, Country Outlook, Application Potential, Competitive Market Share & Forecast

Europe Heat Meters Market Size By Product (Ultrasonic, Vortex), By Technology (Mechanical, Static), By Application (Residential, Commercial, Industrial), COVID-19 Impact Analysis, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

The Europe heat meters market is set to witness substantial expansion by 2030 owing to the advent of smart heating solutions. In addition, increasing deployment of effective heating devices across the region is expected to drive industry growth through the forecast timeframe.

Recently, major industry players have been strategically investing in R&D activities, product launches, and mergers & acquisitions to improve their business presence, thereby fostering the Europe heat meters industry outlook. For instance, in July 2022, Daikin industries, a heating systems expert, announced its plans to build a factory in Poland that would manufacture energy-efficient heating equipment. This factory was intended to produce 1.5 million units of heat pumps each year by 2030.

The Europe heat meters market has been bifurcated on the basis of product, application, technology, and country. From the product perspective, the market has been divided into vortex, ultrasonic, and others. The others segment was valued at more than $50 million in 2021.

In the context of country, the Europe heat meters market has been segmented into Poland, Denmark, Russia, UK, Czech Republic, Latvia, Switzerland, Spain, Austria, Lithuania, Estonia, Norway, Italy, Finland, Sweden, and Germany. The market size in Poland is speculated to increase by about 6% by 2030. The market in Russia is anticipated to expand by above $100 million by the end of the review timeline.

Continuous improvement in modern and smart heat monitoring systems is projected to propel the growth of the Czech Republic market. The Europe heat meters market is set to grow at a steady pace in Latvia over the study timeline due to shifting focus toward the adoption of sustainable technologies. Besides, the market size in Switzerland is estimated to rise by more than $80 million by 2030.

In Spain, the market size was worth more than $16 million in 2021. The market in Lithuania is also foreseen to register substantial growth on account of increasing deployment of modern solutions for efficient heat optimization.

Besides, in Estonia, the market is likely to grow at a CAGR of around 6.5% through 2030. In Norway, favorable government investment to support the development of smart heating units is expected to impel the demand for heat meters in the country in the upcoming time period.

Moreover, Italy is poised to capture a considerable share in the Europe heat meters market due to mounting demand for real-time energy monitoring systems. In Finland, the market is set to gain substantial growth backed by significant government efforts to promote renewable development. The market size in Sweden is expected to depict stable growth up to 2030 due to rising demand for energy-efficient heat management solutions in the country.