Heat Meter Market Forecasts to 2028 – Global Analysis By Product Type (Ultrasonic, Vortex, Turbine Meters, Others), Connectivity (Wired Connection, Wireless Connection), Technology (Mechanical Heat Meter, Static Heat Meter), Communication Method (Local di

Heat Meter Market Forecasts to 2028 – Global Analysis By Product Type (Ultrasonic, Vortex, Turbine Meters, Others), Connectivity (Wired Connection, Wireless Connection), Technology (Mechanical Heat Meter, Static Heat Meter), Communication Method (Local display, M-bus, Wireless), Pipe Size, End User and By GeographyAccording to Stratistics MRC, the Global Heat Meter Market is accounted for $ 2.968billion in 2022 and is expected to reach $4.210billion by 2028 growing at a CAGR of 6% during the forecast period. In order to calculate the quantity of thermal energy provided by a source, a heat metre measures the flow rate of a heat transfer fluid. In facilities, it is frequently used to gauge boiler output. Additionally, it is utilised to estimate the amount of heat or cold a heating boiler or chillier unit generates. The main purpose of a heat metre is to provide information for billing and optimization. Heat metres must be installed within a specific legal and regulatory framework.

According to a white paper on Renewable Heat Policies published by the International Energy Agency, China was the world’s largest heat consumer accounting for 26% of total global heat consumption in 2015. Growing industrialization in developing countries of Asia Pacific is likely to create safety and security concerns owing to the hot fluid being circulated through the pipes, which, in turn, is expected to raise the demand for heat meters in the region.

Market Dynamics:

Driver:

Increase in Concerns about Global Warming

Various governments have put forth extraordinary efforts to regulate the temperature of the air. These laws and regulations play a vital role in driving the market globally. In addition, governments worldwide are developing policies that will improve the use of heat energy as a result of the influx of energy that is taking place in several developing countries. For example, according to the International Energy Efficiency (IEE) regulatory guidelines, the installation of Heat Meter Market plays a vital role in carbonization. In addition, low carbon temperatures that provide better flexibility can remove structural heat by installing Heat Meter Market, another factor contributing to global market growth. Furthermore, rising concerns about global warming have prompted governments to incentivize citizens and industries to reduce and monitor their use of thermal energy to reduce the effects of climate change caused by human activities. This has increased the need for Heat Meter Market in various fields. In addition, the increase in energy-related concerns and relevant government laws and regulations related to energy efficiency are expected to further the growth of the market.

Restraint:

Poor signal prevents the heat meter from working

Mobile technology (network coverage) is used by heat metres to interact with energy providers, and a poor signal can cause this connection to break. The likelihood is that a heat metre may have trouble operating in your home if you reside in particular rural locations or those infamous for having poor mobile phone signals.

Opportunity:

Rise in Digitalization

Heaters have undergone notable technological advancements in recent years. These technological advancements were mostly made apparent by rising consumer demand for long-lasting goods with improved performance at cheaper prices. The temperature meter's sensor has also undergone a considerable upgrade. For instance, efforts are being undertaken to develop sensors that can precisely detect the composition of fuel and oxidants in industrial systems as well as image-sensing sensors to monitor areas. This is brought on by both the rising use of regional heating systems and the greater digital production of electrical resources. Additionally, the market is growing as a result of rising demand for accurate and trustworthy thermal measuring systems and the quickening development of the commercial and residential sectors.

Threat:

Switching energy suppliers becomes difficult

When it comes time to purchase a new deal, you might choose to switch suppliers if you had a first generation metre placed. Unfortunately, in order to maintain their heat metre capabilities, metres must first be updated. After doing this, you can discover that many energy providers are discriminating in the fantastic deals they give clients for specific metre types. We advise delaying the offer of a second generation heat metre when given the option in order to prevent finding yourself in this predicament. These provide you access to a wider range of excellent energy bargains and keep you current with heat metre advancements.

Covid-19 Impact

One of the main causes of the halt in the development of universal energy access has been the COVID-19 interruption. However, among other things, the crisis's slow recovery and the increased use of renewable energy sources are leading to increased access to cutting-edge, sustainable energy systems. These elements might encourage the implementation of heat metering systems, which would then support the growth of the worldwide heat metre market.

The wired segment is expected to be the largest during the forecast period

The market is divided into two types of heat metres: mechanical heat metres and static heat metres. Given that these metres use the fluidic oscillator concept to produce accurate flow and energy readings, the static segment is anticipated to expand at the fastest rate during the projected period. The market is divided into wired and wireless segments based on connection. Due to rising adoption of wired metres in locations with weak connectivity where residential buildings are connected to district heating, it is predicted that wired heat metres will dominate the market. The wired segment is anticipated to have the highest share over the projection period.

The pipe size segment is expected to have the highest CAGR during the forecast period

The market is divided into four categories based on pipe size: 15 mm to 40 mm, 40 mm to 80 mm, 80 mm to 125 mm, and more than 125 mm. Small pipes (15 mm to 40 mm in diameter) are typically installed within the home to transport hot water to various outlets throughout the residence. These pipes are also widely used in household applications because of their small size, excellent dependability, extended shelf life, and ability to be placed independently of the measurement apparatus. As a result, they have demanding applications across a variety of end-use sectors. Thus the during the forecast period, the pipe size category is anticipated to have the greatest CAGR.

Region with highest share:

Due to a growing awareness among national and international groups, as well as the governments of various nations, about the necessity of achieving energy efficiency and lowering overall fossil fuel use, North America has the highest consumption of heat metres. The region's market for heat metres is anticipated to grow favourably as a result of the increased district energy services adoption in North America over the past few years. The region with the highest CAGR during the projection period is expected to be North America.

Region with highest CAGR:

The market for heat metres in the Asia Pacific region is anticipated to experience rapid CAGR expansion. The demand for district heating services has significantly increased in the region. Favourable government programmes, such as incentives and subsidies, are also being implemented to encourage the adoption of automated and sophisticated heating systems. The Asia Pacific region will become a major hub for the production of heat metres, driven by expanding government backing as well as rising investments in the expansion of heating infrastructure.

Key players in the market

Some of the key players profiled in the Heat Meter Market include Engelmann, Sensus (Xylem), Kamstrup, Zenner, Siemens, Danfoss, Wasion Group, Diehl, Ista, Elster, Landis+Gyr, Itron, Qundis, Sycous LTD, Aptor SA., Trend Control System LTD , WECAN Precision Instruments Co. Ltd, Techem, MWA Technology Ltd, Micronics Ltd.

Key Developments:

In March 2022, Micronics Flow Measurement, a specialist in ultrasonic clamp on flow metres, has been fully acquired by Rototherm Group.

In May 2018, The Danfoss team responsible for the development, production and sales of Heat Meters and Automatic Meter Reading solutions have announced a successful test with the narrowband Internet of Things (NB-IoT) wireless data communication.

Product Type Covered:
• Ultrasonic
• Vortex
• Turbine Meters
• Other Types

Connectivity Covered:
• Wired Connection
• Wireless Connection
Technology Covered:
• Mechanical Heat Meter
• Static Heat Meter

Communication Method Covered:
• Local display
• M-bus
• Wireless

Pipe Size Covered:
• 15 mm – 40 mm
• 40 mm – 80 mm
• 80 mm – 125 mm
• More than 125 mm

End User Covered:
• Residential
• Commercial & Public
• Industrial

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances