Market Research Future published a research report on “Smart Gas Meter Market Research Report – Forecast to 2024” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2024.
Global Smart Gas Meter Market – Overview
Market Analysis
The demand for the global smart gas meter market is on the upside and is anticipated to grow at a commendable CAGR during the predicted years (2018-2024). A smart gas meter is an effective electronic device that is utilized for reading electricity and gas consumption in the real-time, thus helping customers in reducing costs and improving energy efficiency. Its demand is on the rise owing to the increasing investment level in the smart grid projects. These investments are likely to kick-start smart city developments within various countries the world over in the years to come. In fact, the smart gas meters rollouts in specific countries consequently triggered its demand in other nations too. Such gas monitoring solutions are on its way in turning into a norm in the near future owing to the growing concerns over natural gases’ fast exhaustion. There has been a rapid escalation in the use of the smart gas meters with businesses and households striving for control and better visibility in their gas consumption. Moreover, it is turning in to the go-to solution to address issues of unaccounted or extensive gas consumption. The best part, the smart gas meters offer accurate measurement and readings thereby removing discrepancies if any while billing.
There are a couple of factors that is driving the growth of the Smart Gas Meter Market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include increase in the demand for gas, growth in urbanization, stringent government regulations, increased investment for digitalizing gas distribution channels and requirement for efficient usage of energy. On the flip side, factors such as the complex design components and high maintenance cost are likely to hamper the growth of the smart gas meter market.
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Competitive Analysis
The increasing affinity for diversification in the smart gas meter market has enabled the players indirectly to use the different prospects accessible. It is this particular trend that has allowed portfolio improvements together with the similarity in the sector for modification that has helped the players in the market enormously. In the smart gas meter market, the buyouts are predicted to help players to boost up their share in the market significantly and also expand their offshore operations. The companies are laying emphasis on strategies which will improve their financial liquidity and assure long-term sustenance.
Leading players profiled in the smart gas meter market include EDMI Limited (Singapore), Diehl Metering (U.K.), Raychem RPG (India), Itron Inc. (U.S.), Honeywell International, Inc. (U.S.), Dandong Dongfa Group Co. Ltd. (China), Landis+Gyr (Switzerland), Apator Group (Poland) and Sensus (U.S.).
April 2018- Tata Communications in collaboration with Mahanagar Gas is all set in installing 5000 smart gas meters in Mumbai. It will provide households and businesses the visibility and control over the gas usage thereby allowing Mahanagar Gas in developing its operational competences. This set up will help in reducing the need of the users to track their gas meter readings manually as it will be automatically tracked by the smart system.
Market Segmentation
MRFR report provides an extensive segmental analysis of the smart gas meter market on the basis of application and product type.
Based on application, it is segmented into commercial sectors and residential sectors. Of these, residential sectors will dominate the market over the predicted years.
Based on product type, it is segmented into turbine gas meters, rotary gas meters, diaphragm gas meters and others. Of these, the diaphragm gas meters will dominate the market over the predicted years.
Regional Analysis
By region, the smart gas meter market covers growth opportunities and latest trends across Asia Pacific, North America, Europe, Middle East and Rest of the World. Of these, Europe and North America will have a significant share in the market over the predicted years. This is owing to government policy mandates coupled with fiscal incentives. There are a good number of manufacturers present in the US that is propelling the market growth in this region. The smart gas meter market in the APAC region is predicted to grow at the fastest pace owing to growing government efforts, development of smart city projects as well as increasing subscriptions of residential gas to heat and cook.
Important Features that are under offering & key highlights of the report:
- Detailed overview of Smart Gas Meter market
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application etc
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Smart Gas Meter market
- Strategies of key players
- Potential and niche segments/regions exhibiting promising growth
- Market players information to sustain and enhance their footprint
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