Smart Gas Meter Market to hit US$ 14 billion by 2028, Says Global Market Insights Inc.

The Asia Pacific smart gas meter market is poised to expand at 20% growth rate through 2028 driven by governments meter replacement programs to enhance the monitoring and operational efficiency of pipeline distribution networks.

SELBYVILLE, Del., March 23, 2022 /PRNewswire/ -- The smart gas meter market is expected to surpass USD 14 billion by 2028, as reported in a research study by Global Market Insights Inc. The ongoing implementation of favorable government norms, mandates, and fiscal incentives toward the deployment of intelligent gas meters along with rising demand for the accurate measurement of gas consumption patterns will boost the industry scenario. Growing consumer inclination toward green fuels, energy conservation, and effective & efficient systems will positively stimulate the overall market growth.

Rising natural gas demand across developed & developing countries along with the ongoing development of gas pipeline infrastructure will fuel the residential smart gas meter market. Growing consumer awareness of gas consumption patterns coupled with increasing gas thefts & line losses across unstructured grids will propel the demand for metering modules. A paradigm shift toward smart city programs along with the rising construction of City Gas Distribution (CGD) networks across developing countries will positively stimulate the business scenario. Ineffective domestic gas distribution systems along with the growing requirement for accurate & long-range radio frequency meter reading technologies will further drive product penetration. 

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The AMR-based smart gas meter segment is anticipated to account for around USD 5 billion by 2028. The ability to monitor and diagnose industrial, commercial & domestic gas consumption patterns coupled with the cost tracking of resource utilization will positively sway product demand. Intensifying conservation measures to minimize & detect gas leakages, thefts, and pipeline breakdown will further complement the business scenario.

The Asia Pacific smart gas meter market is estimated to grow at a CAGR of over 20% through 2028. Ongoing natural gas demand across developing regions on account of rapid industrialization and urbanization will foster the business dynamics. Government meter replacement programs to enhance the monitoring and operational efficiency of pipeline distribution networks will further sway the industry scenario. Furthermore, strict regulatory targets to deploy AMI/AMR gas modules by various regional municipalities and utilities will sway the business scenario.

The COVID-19 impact across the smart gas meter market led to a moderate decline owing to delays in the rollout programs. However, various utilities and leading manufacturers are inclined toward the re-initiation of unit installation by mid-2022. Ongoing investment by major government authorities and private players toward the deployment and installation of intelligent modules and meters will further sway the industry dynamics.

Some of the key findings of the smart gas meter industry report include:

• Rising energy demand along with an exponential increase in the population index will complement the smart gas meter market.
• Government schemes, rebates, and stringent norms to replace mechanical meters with advanced metering systems will complement the industry outlook.
• Ongoing technological advancements along with rising R&D investments by major leading players to deploy remote-based modules with billing ease and accuracy will augment the product demand.
• Major industry participants operational across the smart gas meter market include Landis+Gyr, Sensus, Honeywell International, and Itron.

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Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary

2.1  Smart gas meter industry 360⁰ synopsis, 2018 - 2028

2.1.1  Business trends

2.1.2  Application trends

2.1.3  Technology trends

2.1.4  Regional trends

Chapter 3 Smart Gas Meter Industry Insights

3.1  Industry ecosystem analysis

3.2  Innovation & technology landscape

3.3  Regulatory landscape

3.4  COVID- 19 impact on the industry outlook

3.5  Industry impact forces

3.5.1  Growth drivers

3.5.1.1  Favorable government regulations and directives

3.5.1.2  Energy conservation

3.5.1.3  Accuracy & optimization in billings

3.5.1.4  Effective monitoring and enhanced operational efficiency

3.5.2  Industry pitfalls and challenges

3.5.2.1  Privacy and cyber security concerns

3.6  Growth potential analysis

3.7  Porter's Analysis

3.8  Competitive landscape, 2021

3.9  PESTLE Analysis

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights Inc.
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SOURCE Global Market Insights Inc.