New York, NY, June 21, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Heat Meter Market by Type (Mechanical, Static, Vortex, and Others), by Connectivity (Wired and Wireless), and by End-Use Industry (Residential, Commercial & Public, and Industrial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global heat meter market was USD 797 million in 2018 and is expected to reach USD 1,421 million by 2025, at a CAGR of 7.5% between 2019 and 2025.
A heat meter is a device that measures thermal energy delivered to a sink or source, by determining the flow rate of the heat transmission fluid and the variation in its temperature among the discharge and return legs of the system. Heat meters are used to calculate heat energy distributed through a district or centralized community heating scheme. The global heat meter market is likely to experience significant growth in the upcoming years, owing to the rising number of digitalization of power utilities, increasing adoption of district heating systems, growing demand for accurate and reliable heat metering system, and rapid development of commercial as well as residential formations. Supportive government rules and regulations relating to energy efficiency along with the rising concerns related to energy conservation are expected to further fuel the global heat meter in the years to come. However, the huge capital cost of heat meters may hamper the growth of the heat meter market globally in the future. Alternatively, the rising development of district heating infrastructure in emerging countries of China, India, Brazil, etc. is likely to offer new growth opportunities to the major players operating in this global market.
Browse through 105 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Heat Meter Market Size & Share 2019 Analysis: Industry Type, Applications, Segments, Analysis and Forecast to 2025”.
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The global heat meter market is fragmented into type, connectivity, and end-use industry. By type, the global heat meter market includes mechanical, static, vortex, and others. In 2018, the static heat meters were the fastest growing segment of the market and accounted for the largest share globally. By connectivity, the global heat meter market includes wired and wireless. The wired connection heat meter segment is anticipated to hold a significant share of the global heat meter market over the forecast time period. By end-use industry, the global heat meter market includes residential, commercial and public, and industrial. The residential segment dominated the market in 2018 and is anticipated to register the highest CAGR in the upcoming years. The residential heat meter segment has witnessed significant adoption in the residential sector, which includes single-family homes, luxury apartments, and large multi-family buildings.
In 2018, the Asia Pacific region was the largest heat meter market globally. This regional dominance can be mainly attributed to the rising number of construction activities across the region. Moreover, the Asia Pacific region is anticipated to be the fastest growing market for heat meter over the next few years, owing to the flourishing power industry, increasing number of construction activities in the region, rising urbanization, and swift industrialization in the region. China and India are likely to emerge as major market contributors to the region’s heat meter market in the future. This domination is majorly observed due to the compulsory governmental obligations to install heat meters that result in increased savings through heat conservation and accurate measurement of heat consumption.
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In 2018, China was the major market for distribution transformers and is expected to continue its dominance in the future. The rising demand for operational energy management systems and the increasing requirement for personalized metering in residential buildings are also boosting this regional market.
North America held the second spot of the global heat meter market in 2018. The U.S. is estimated to be the major contributor of the heat meter market in the upcoming years, due to the increasing number of government policies and guidelines for utilities for metering and rising focus toward reducing cost and energy efficiency.
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Europe is likely to register satisfactory growth in the global heat meter market in the future, owing to the government regulations imposed for the installation of heat meters. Encouraging government rules and regulations relating to energy efficiency along with rising concerns toward increasing levels of carbon emissions are also expected to drive the heat meter market over the forecast time period.
Latin America and the Middle East and Africa are projected to experience moderate growth in the global heat meter market in the future, owing to significant investments made by the international companies for heat meter projects in these regions.
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Some major players of the global heat meter market are Elster, Ista, Zenner, Itron, Landis+Gyr, Wasion Group, Diehl, Siemens, Danfoss, Kamstrup, Engelman, Techem, Qundis, Apator, Sensus, Secure Meters, Sontex, Weihai Ploumeter, WECAN, Huizhong, Axioma, MWA, and Micronics.
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This report segments the global heat meter market into:
Global Heat Meter Market: Type Analysis
- Mechanical
- Static
- Vortex
- Others
Global Heat Meter Market: Connectivity Analysis
- Wired
- Wireless
Global Heat Meter Market: Application Analysis
- Residential
- Commercial and Public
- Industrial
Global Heat Meter Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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