Europe Smart Water Meter Market Size By Application (Residential, Commercial, Utility), By Technology (AMI, AMR), By Product (Hot Water Meter, Cold Water Meter), & Global Forecast, 2023 - 2032

Europe Smart Water Meter Market Size By Application (Residential, Commercial, Utility), By Technology (AMI, AMR), By Product (Hot Water Meter, Cold Water Meter), & Global Forecast, 2023 - 2032

Europe smart water market will exhibit robust growth through 2032, driven by the implementation of favorable regulatory programs, mandates, and policies.

Several European agencies and regulatory authorities have deployed extensive initiatives encouraging the installation of smart meters for effective monitoring and conservation of water. Various smart metering programs are focusing on improving overall water usage and leakage detection. For instance, Germany plans to roll out a new law in the Spring of 2023, which will mandate large-scale deployment of smart metering from 2025.

The market is categorized into application, technology, product, and country.

By application, the industry is classified into utility, residential, and commercial. The demand for smart water heater meters is set to increase significantly across utility applications due to the massive rise in water consumption. Moreover, hefty investments focused on developing smart infrastructure and restructuring existing water distribution networks will fuel the deployment of smart meters. Furthermore, favorable government policies will prompt the utility sector to install smart meters.

Based on technology, AMR smart water meter market size will grow at over 18% CAGR between 2023 and 2032. AMR devices offer myriad benefits, including affordable maintenance, lower installation costs, and easy availability. These are designed to assess and communicate the data gathered in a two-way direction. Additionally, these meters feature a smart energy display that delivers real-time data regarding total energy consumption on a monthly, daily, and hourly basis.

In terms of product, the market is bifurcated into cold and hot water meters. Among these, the cold water meter segment held more than 80% share of the Europe smart water meter market in 2022. In the recent past, cold smart water meters have gained significant popularity across the region due to growing concerns associated with water scarcity coupled with a constantly increasing population. These meters help track cold-water consumption, thus, ensuring cost-efficiency and optimum resource utilization.

From a regional frame of reference, the UK smart water meter market size will expand at over 24% CAGR between 2023 and 2032. The deployment of smart water meters will gain momentum in the UK due to the growing focus on national energy infrastructure development and aggressive net-zero commitment policies.

For instance, in March 2023, the British government announced plans to infuse USD 2.2 billion into strengthening energy efficiency and curbing emissions by households, and public buildings across England. Similar initiatives are encouraging residential and commercial consumers in the UK to deploy smart water meters to help the country achieve sustainability targets.