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Smart Gas Meter Market to Reach USD 10.92 billion by 2026;Rising Demand for Cutting Down Greenhouse Gas Emissions will Promote Market Growth

February 13, 2020 | Energy & Power

The global smart gas meter market size is prophesized to reach USD 10.92 billion by 2026, attributable to the increasing industrial pollution and the rise in need to control the emission of greenhouse gases into the atmosphere. This information is provided in a recently published report 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.” The market value was USD 6.76 billion in 2018 and is likely to exhibit a 6.3% CAGR within the forecast period set between 2019 to 2026.


Natural Gas Application Serving Various Purposes to Gain Popularity


The increasing rate of greenhouse gases into the atmosphere has propelled governments to promote the use of natural gas as a substitute for cooking fuel. Thus, there is a rise in demand for natural gas for various purposes such as cooking, room heating, water heating, and others. At present, companies are introducing new technologies that can help to keep track of energy consumptions. This technology can also keep track of the tariffs and ultimately help to augment the global smart gas installations market growth as per the estimations of analysts at Fortune Business Insights™.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/smart-gas-meter-market-100814


Rise in Demand for Clean Energy to Boost Market


A major factor attracting high smart gas metering market revenue is the operational safety provided by these gases. They do not stand a chance of life risk and any other accidental mishaps and are considered to provide a safe environment for cooking. In addition to this, the rise in focus towards renewable sources of energy is anticipated to promote the global smart gas metering market growth. Moreover, with the implementation of smart gas, one can cut down on operational safety and overall cost. This efficiency provided by the new generation gas meters is likely to increase the overall smart gas meter market size in the long run. Furthermore, the increasing inclination towards clean energy will also help to augment the market in the forthcoming years.


Presence of Multiple Players Intensifying Market


The presence of many players in the smart gas meter market has intensified the competition. However, the top three dominant smart gas metering market shares are held by Itron, ABB, and Siemens. Apart from this, GE, Landis+Gyr, and Kamstrup also form a major portion of the market.


Key industry developments of the Smart Gas Meter Installation Market include:



  • December 2019 – Nippon Gas Co. declared the modification of their existing gas meter devices with a smart makeover all over Japan. This is considered the largest deployment for smart utilities to date with an up-gradation activity of about 8,50,000 gas meter devices. This new up-gradation called SPACE HOTARU will be based out of the Internet of Things (IoT) and guarantees to be placed completely all over the nation by the end of 2020.


Key players of the Smart Gas Meter Installation Market include:



  • EDMI Limited

  • Jabil

  • Secure Meter Limited

  • Xylem Inc.

  • Kamstrup

  • Landis+Gyr

  • GE

  • EMH metering GmbH & Co KG

  • Xemex

  • Holley Technology Ltd

  • Aclara

  • Itron, Inc.

  • Honeywell

  • Siemens

  • ABB


Further Report Findings



  • Asia Pacific is holding the smart gas metering market share owing to the rise in demand for energy to serve the highly populated nations such as India, Indonesia, South Korea, Japan, and China. Among these, China emerged as the leading nation due to the rise in greenhouse emission targets.

  • In 2018, Asia Pacific earned USD 2.84 Billion on account of the substantial growth in population, accompanied by the increasing demand for electricity to serve various residential, industrial and commercial purposes by replacing the traditional meters with the smart ones.

  • With regard to segmentation by type, the advanced metering infrastructure segment holds a dominant smart gas metering market share on account of the surging inclination towards clean energy, further leading to the availability of gas lines for use in residential applications.


The global smart gas meter installation market can be segmented as follows: 








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



Segmentation



By Type



  • Advanced Metering Infrastructure

  • Auto Meter Reading      



By Application



  • Residential

  • Industrial

  • Commercial



By Geography



  • North America (the U.S. and Canada)

  • Europe (Italy, Turkey, Spain, Netherlands, France, Germany, UK, Ukraine, Russia, and the Rest of Europe)

  • Asia Pacific (China, South Korea, Japan, India, Australia, Thailand, and the Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, Argentina, Venezuela, and the Rest of Latin America)

  • Middle East & Africa (Egypt, GCC and the Rest of the Middle East & Africa)



 


 

Smart Gas Meter Market
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