"We Envision Growth Strategies Most Suited
to Your Business"
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:
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:
Key players of the Smart Gas Meter Installation Market include:
Further Report Findings
The global smart gas meter installation market can be segmented as follows:
Value (USD Billion)