Smart Gas Meter Global Market By Product , By Application (Residential, Commercial And Industrial) By Region | Smart Gas Meter Market Will Capture A CAGR Of 6.60% During The Forecast Period (2018-2024)
Pune, India -- (SBWIRE) -- 08/14/2018 -- Market Highlights:-
The market's growth is fuelled by the government's rollout policies, which is a postive indicator for stakeholders.. Furthermore, development of the smart gas metering projects has led to the creation of new and highly efficient wireless network, provisioning the scope of IoT in gas monitoring technology. The market in Asia Pacific (APAC) also holds tremendous potentials, smart city projects in coutry, such as India, China, and Thailand, are boosting the development of the market in this region.
Demand for smart gas has been on the upside due to the rising level of investments in smart grid projects. Such investments are expected to kick-start the smart city developments in different countries around the world in the near future. The rollouts of smart gas meters in certain countries have consequently triggered their demand in several other nations as well. The market also finds itself considerably driven by the need for efficient energy usage, as energy crises globally have reached an advanced stage. Market Research Future (MRFR) in its report projects that the global Smart Gas Meter Market will capture a CAGR of 6.60% during the forecast period (2018-2024).
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In October 2017, Landis+Gyr, global provider of energy management solutions, announced the introduction of the next generation of smart meters for electricity and gas in the UK. The first of the new model UK smart meters is now installed and live in a British Gas customer's home.
In September 2017, Honeywell announced that it is providing Honeywell smart meters, software and communication networks that will enable two municipal utilities to upgrade from a traditional grid to smart grid infrastructure, allowing them to deliver enhanced reliability and service to their customers.
In October 2016, Honeywell announced that it has been awarded the contracts for two smart grid projects in Mexico by the country's federal electrical company. Smart Energy division is responsible for delivering gas and electricity meters, as well as providing data analytic solutions.
In February 2016, Feb 2016, Honeywell was selected by Memphis Light, Gas and Water (MLGW) for a five-year project worth more than $200 million to fully deploy Honeywell's Elster EnergyAxis AMI advanced metering technology throughout MLGW's service territory. MLGW is the largest three-service public utility in the United States, with more than 1 million utility meters.
Industry Top Key Players:-
Landis+Gyr (Switzerland), Xylem, Inc. (U.S.), Aclara Technologies LLC (U.S.), Honeywell International Inc. (U.S.), Itron Inc. (U.S.), EDMI (Singapore), Apator Group (Poland), DIEHL Metering (Germany), Zenner (Germany), MeteRSit (Italy), and Flonidan A/S (Denmark).
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Smart Gas Meters Market - Segmentation
Global Smart Gas Meters Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
On the basis of product, market is segmented into Diaphragm Smart Gas Meters, Turbine Smart Gas Meters, Rotary Piston Smart Gas Meter, and Others
Based on application segment the market is segmented into Residential, commercial, and Industrial. Residential sector dominates application segment of the market. Major roll out plans in EU, United States and Asia-pacific target smart gas meter market specifically in the residential sector.
Segmentation by Regions: Comprises Geographical regions – United States, European Union, China, Japan, South Korea, Taiwan, and Others
Detailed Regional Analysis:-
Based on region, the market is segmented into APAC, North America, Africa, Europe, Middle East and rest of the world. North America and Europe currently account for noteworthy shares of the overall pie. North America remians a key market for smart gas meters and is expected to be worth more than USD 700 Mn. Fiscal incentives and government policy mandates have been the key influencers for the smart gas meter market in the region. The US is home to a large number of manufacturers who have a positive influence on the growth of the market as well. Meanwhile, the market in APAC is set to exhibit a fast growth over the next five years. This is attributable to factors such as increased government efforts and roll-outs of smart city projects. Growing number of residential gas subscriptions for heating needs and cooking will efficiently raise the demand for smart gas meters in APAC countries in the years to come.
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