Rockville , March 06, 2024 (GLOBE NEWSWIRE) -- The global heat meter market is estimated at US$ 3.34 billion in 2024, as per a newly published study by Fact.MR, a market research and competitive intelligence provider. Worldwide sales of heat meters are projected to reach US$ 5.09 billion by the end of 2034. Increasing need for energy-efficient solutions and government regulations are key factors driving market expansion.
Rising focus on sustainable practices and increasing adoption of district heating systems are projected to positively impact demand for heat meters. Constant advancements in technology, such as IoT integration and smart metering, are estimated to lead to market growth while offering accurate and more efficient heat consumption measurements. It is crucial for organizations to effectively manage heat consumption while adopting measures for heat measurement.
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Governments across the world are constantly putting efforts into heat management. Growing emphasis on billing accuracy, environment consciousness, and cost savings are projected to lead to the adoption of heat meters. In addition, the majority of industries are emphasizing sustainable practices. A noteworthy inclination to solutions with an effective and environment-friendly approach is projected to help in managing energy consumption, which will lead to the adoption of heat meters in the coming 10 years.
| Report Attribute | Details |
| Value Projection (2034) | US$ 5.09 Billion |
| Growth Rate (2024-2034) | 4.3% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- Worldwide sales of heat meters are estimated at US$ 3.34 billion in 2024.
- The global heat meter market is projected to reach US$ 5.09 billion by the end of 2034.
- The market is forecasted to expand at a CAGR of 4.3% from 2024 to 2034.
- North America is forecasted to account for 38.1% share of the global market by the end of 2034.
- Demand for heat meters in China is projected to increase at a CAGR of 4.6% and reach a value of US$ 1.01 billion by 2034-end.
- The residential segment is forecasted to account for 46.1% of global market revenue by 2034.
“Rising energy efficiency initiatives, increasing energy costs, and growing demand for district heating systems are projected to contribute to the sales of heat meters,” says a Fact.MR analyst.
Key Market Players Profiled in this report
- Siemens
- BMETERS
- ista Energy Solutions
- Kamstrup
- Diehl
- Apator
- Micronics
- Secure Meters
- Zenner International
- Axioma Metering
- Landis+Gyr
- Danfoss
Easy Availability of Advanced Heat Meters in United States
Demand for heat meters in the United States is projected to increase at a CAGR of 4.2% and reach a market valuation of US$ 1.36 billion by the end of 2034. Growing need for energy monitoring and the presence of a well-established construction sector are projected to increase demand for heat meters. In addition, the easy availability of more efficient heat meters in the United States is also projected to contribute to revenue streams.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the heat meter market, presenting historical demand data for 2018–2023 and forecast statistics for 2024–2034.
The study divulges essential insights into the market based on product (ultrasonic, vortex), technology (mechanical, static), and application (commercial, residential, industrial), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact.MR Research:
Heat Pump Water Heater Market: The heat pump water heater Market demand is expanding and is poised to grow at a CAGR of 7.9% during the forecast period and reach a valuation of US$ 3.4 billion in 2033 from US$ 1.6 billion in 2023.
Advanced Metering Infrastructure (AMI) Market: The global advanced metering infrastructure (AMI) market is likely to account for a valuation of nearly US$ 7 Bn in the year 2022, expected to expand nearly 2X by the end of 2032, surging at a CAGR of approximately 9%.
Smart Meter Data Management Market: The global smart meter data management market is valued at US$ 1 billion in 2023 and is estimated to surge to US$ 5 billion by the end of 2033, expanding at a noteworthy CAGR of 17.4% from 2023 to 2033.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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