The global gas meter market size was valued at US$ 5.7 billion in 2020 and is predicted to hit around US$ 10 billion by 2030, growing at a noteworthy CAGR of 6.9% from 2021 to 2030.
The global gas meter market is expected to be driven by growing gas consumption over the forecast period. These meters play a key role in measuring consumption across various application areas such as domestic, commercial, and industrial. Growing energy demand and environmental concerns have resulted in a shift towards natural gas consumption owing to its inherent characteristics.
Characteristics such as low emission, higher calorific value, and easier operability are presumed to play a key role in shaping the industry in the future. Such a shift in consumer trends is expected to aid the gas meter market over the next seven years. This results in low operating expenditures and easier data management across multiple departments.
Such advantages are expected to assist the global gas meter market over the forecast period. Meter data management systems provide a centralized data management system that incorporates consumption of various departments or utilities and makes it available for real-time decision-making. Such advantages are presumed to positively impact the market over the forecast period.
However, inability to manage large data volumes generated from smart gas meter is anticipated to hamper gas meter market growth and development. Transition from old to new intelligent ones results in added costs and integration difficulties for companies. Such hindrances are presumed to hamper industry growth and development.
Technological advances have resulted in the introduction of smart gas meter. R&D initiatives to develop superior innovative products in line with customer specifications and reduce manufacturing as well as operating costs offer many opportunities for the industry participants. Smart gas meters are not widely accepted across the end-use industries at present but are projected to witness rapid growth in the future. Such growth prospects offer abundant opportunities for gas meter market growth and development.
The smart gas meter segment registered the significant gas meter market share in 2020. This is attributed to rise in demand for various gas meter in residential and commercial areas. Moreover, basic meter is cost-effective and suitable for wide range of applications.
Based on end user, the residential end user industry segment accounted for significant gas meter market size, owing to increase in residential power consumption. Due to economic developments and favorable government policies, the smart meters market witnessed a large demand in the residential sector; therefore, positively impacting the market growth.
Developed regions such as North America and Europe are projected to witness brisk growth owing to regulations that mandate companies to phase out old conventional meter and adopt new intelligent ones.
Asia-Pacific accounted for significant revenue share in 2020. Developing regions such as Asia Pacific, Middle East & Africa, and Central & South America are expected to witness brisk demand due to factors such as growing urbanization and government initiatives favoring industrialization. Rising energy demand and shift in customer preferences towards natural gas consumption are other key factors expected to positively impact the market over the forecast period.
Major gas meter market participants include Elster Group SE, GE Energy Company, Sensus USA Inc., Itron Inc., ABB Ltd., Diehl Metering Group, Emerson Electric Co., Schneider Electric S.A., Badger Meter Inc., Endress+Hauser, Krohne Group, and Siemens A.G.
|Market Size||US$ 10 Billion by 2030|
|Growth Rate||CAGR of 6.9% from 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, End User|
|Regional Scope||North America, Europe, Asia-Pacific, LAMEA|
|Companies Mentioned||Elster Group SE, GE Energy Company, Sensus USA Inc., Itron Inc., ABB Ltd., Diehl Metering Group, Emerson Electric Co., Schneider Electric S.A., Badger Meter Inc., Endress+Hauser, Krohne Group, and Siemens A.G.|
By Product Type
By End User
This report focuses on gas meter market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall gas meter market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global gas meter market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the gas meter market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the gas meter market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Gas meter market.
Market Segments: This part of the report discusses about product, application and other segments of the gas meter market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global gas meter market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the gas meter market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of gas meter are as follows:
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global gas meter market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global gas meter market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global gas meter market.
The study objectives of this report are: