Smart Gas Meter Market to Hit USD 10.92 Billion by 2026 | Increasing Popularity of Clean Energy Sources to Suffice to the Residential, commercial and Industrial Needs to boost the global Smart Gas Meter Market growth

According to Fortune Business Insights, the global smart gas meter market size stood at USD 6.76 billion in 2018 and it is projected to reach USD 10.92 billion by 2026, exhibiting a CAGR of 6.3% during the forecast period.


Pune, India, May 30, 2022 (GLOBE NEWSWIRE) -- The global smart gas meter market is foreseen to reach USD 10.92 billion by 2026, displaying a CAGR of 6.3% between 2019 and 2026. This is attributable to the increasing demand for energy from residential, industrial, and commercial purposes. Gas is a primary necessity in every household for various applications such as room heating, water heating, or cooking, and others. Gas meters allow having a transparent reading of the amount of energy used, thus avoiding unaccounted consumption and evaluation of monthly tariffs. Such advantages offered by smart gas meters are likely to bode well for the market, thus promoting the smart gas metering market trends in the forecast duration.

The report published by Fortune Business Insights™ titled, “Smart Gas Meter Market Size, Share & Industry Analysis, By Type (Advanced Metering Infrastructure and Auto Meter Reading) By Application (Residential, Industrial, and Commercial), and Regional Forecast, 2019-2026” provides a comprehensive analysis on the market and its major growth trajectories. As per this report, the market stood at USD 6.76 Billion in 2018.


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Report CoverageDetails
Forecast Period2019-2026
Forecast Period 2019 to 2026 CAGR6.3%
2026 Value ProjectionUSD 10.92 billion
Base Year2018
Market Size in 20186.76 Billion
Historical Data for2015-2017
No. of Pages140
Segments coveredType, Application, Geography
Growth DriversOperational Safety and Cost Savings for Gas Companies & Customers Will Drive Market
  Operational Safety and Cost Savings for Gas Companies & Customers Will Drive Market


Rising Demand for Energy to Promote Market Growth

The increasing population and the need for energy consumption for various residential, commercial, as well as industrial applications are promoting the smart gas meter market growth. Smart gas meters offer various advantages such as detailed feedback related to the use of energy, monthly bills, and a decline in the number of monthly billing and the need for monitoring the pipeline, precise operation, and others. The increasing demand for energy to suffice to the needs of the growing population is prognosticated by analysts at Fortune Business Insights™ to boost the smart gas meter market growth in the forecast duration.
Additionally, the need for clean sources of energy, controlling greenhouse gas emissions, and the promotion of renewable energy sources for consumption are further expected to increase the overall smart gas meter installation market size during the forecast duration.

Asia Pacific Dominating Market with Increasing Demand for Improving Greenhouse Gas Emissions

Geographically, Asia Pacific is holding a dominant share with about USD 2.84 billion earned in 2018. China is the leading nation contributing a major share to the market owing to its smart electric meters rollout. With the success of the electric meter market in China, the government is trying to replicate the same and install smart gas meters all around the nation. Besides this, the rise in demand for greenhouse gas emission targets has also propelled the smart gas meter market growth in the region.

On the other side, the market in North America is likely to witness significant growth on account of increasing incidences of replacing infrastructures with new smart gas technology. In this region, the U.S. has been dominating the market, followed by Canada. Apart from this, the Middle East and Africa recently adopted the installation of new smart gas meter installations.  Nations such as Brazil and Mexico are likely to boost the Latin America market share during the forecast period.


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Fragmented Nature of Market to Intensify Market Competition

The competitive landscape of the global smart gas meter installation market is highly fragmented on account of the presence of many players. At present, players, namely Siemens, Kamstrup, GE, Landis + Gyr, ABB, form a major smart gas meter market share. This is attributable to the strong portfolio of these companies across all regions.

Significant Industry Developments of Smart Gas Metal Installation Market Includes:

April 2019 – Aclara Technologies and OVO Energy collaborated for implementing the new SMETS2 meter. The companies aim at modernizing the already existing grids and combine with the smart meter rollout program of the UK.

Key Players of the Smart Gas Metering Market Include:

  • Siemens
  • Kamstrup
  • Aclara
  • Holley Technology Ltd
  • Xemex
  • EMH metering GmbH & Co KG
  • ABB
  • Landis+Gyr
  • Itron, Inc.
  • Secure Meter Limited
  • Xylem Inc.
  • EDMI Limited
  • Jabil
  • Honeywell
  • Siemens

Table of Content:

1.       Introduction

1.1.    Research Scope

1.2.    Market Segmentation

1.3.    Research Methodology

1.4.    Definitions and Assumptions

2.       Executive Summary

3.       Market Dynamics

3.1.    Market Drivers

3.2.    Market Restraints

3.3.    Market Opportunities

4.       Key Insights

4.1.    Key Emerging Trends – For Major Countries

4.2.    Latest Technological Advancement

4.3.    Regulatory Landscape

4.4.    Industry SWOT Analysis

4.5.    Porters Five Forces Analysis

5.       Global Smart Gas Meter Market Analysis, Insights and Forecast, 2015-2026

5.1.    Key Findings / Summary

5.2.    Market Analysis, Insights and Forecast – By Type (USD Million)

5.2.1. Advanced Metering Infrastructure

5.2.2. Auto Meter Reading

5.3.    Market Analysis, Insights and Forecast – By Application (USD Million)

5.3.1.Industrial

5.3.2.Residential

5.3.3.Commercial

5.4.    Market Analysis, Insights and Forecast – By Region (USD Million)

5.4.1.North America

5.4.2.Europe

5.4.3.Asia Pacific

5.4.4.Latin America

5.4.5.Middle East & Africa

6.       North America Smart Gas Meter Market Analysis, Insights and Forecast, 2015-2026

6.1.    Key Findings / Summary

6.2.    Market Analysis, Insights and Forecast – By Type (USD Million)

6.2.1. Advanced Metering Infrastructure

6.2.2. Auto Meter Reading

6.3.    Market Analysis, Insights and Forecast – By Application (USD Million)

6.3.1.Industrial

6.3.2.Residential

6.3.3.Commercial

6.4.    Market Analysis, Insights and Forecast – By Country (USD Million)

6.4.1.U.S.

6.4.2.Canada

Continued…


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