Smart Gas Meter Market Worth 2.27 Billion USD by 2021
PUNE, India, May 24, 2016 /PRNewswire/ --
The report "Smart Gas Meter Market by Type (Automatic Meter Reading and Advanced Metering Infrastructure), by End-User (Residential, Commercial and Industrial) and by Region - Global Trends & Forecast to 2021" published by MarketsandMarkets, The market is expected to grow from an estimated USD 1.59 Billion in 2016 to USD 2.27 Billion by 2021, at a CAGR of 7.24% from 2016 to 2021.
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Browse 65 market data Tables with 44 Figures spread through 117 Pages and in-depth TOC on "Smart Gas Meter Market"
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Factors such as government policies & mandates in developed economies and accurate billing & improved customer service are driving the market globally.
Residential customers the largest end-users of smart gas meters
The Smart Gas Meter Market in this report has been classified based on end-users into three segments, namely, residential, commercial, and industrial. The residential segment accounted for the largest market size, in terms of value, in 2015. The global gas pipeline network construction in the residential segment accounted for 1,054 kms (approx.) in the past 5 years with another 100 kms expected to be constructed in next 2-3 years, which would boost the Smart Gas Meter Market.
AMR segment would dominate the global Smart Gas Meter Market
The Automatic Meter Reading (AMR) segment is estimated to be the largest market for smart gas meters in 2016. It is a metering technology that collects consumption data from the gas meters and transfers it to a central database (in the utility station) for billing and other purposes (one-way communication only). Popular in North America and Europe, other regions have also started to implement this metering infrastructure. It is less costly when compared to Advanced Metering Infrastructure (AMI), and hence has a higher market size. However, the AMI market is projected to grow at the highest rate because of its technological superiority.
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North America: the dominant market for smart gas meters
North America dominates the Smart Gas Meter Market, and Europe is expected to grow at the highest rate during the forecast period. In North America, the growth of the Smart Gas Meter Market could be attributed to factors such as investments in smart grid and gas pipeline networks. Meanwhile, several smart gas meter rollouts are taking place in countries such as the U.K., Spain, and France. This, coupled with the EU's (European Union) plans regarding carbon emission reductions, would drive growth in the European region.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of companies, namely, Itron, Inc. (U.S.), Honeywell International, Inc. (U.S.), Apator Group (Poland), Landis+Gyr (Switzerland), Diehl Metering (U.K.), Sensus (U.S.), EDMI Limited (Singapore), Chongqing Shancheng Gas Equipment Co., Ltd. (China), Dandong Dongfa Group (China), Raychem RPG (India), and Master Meter (U.S.). Dominant players are trying to penetrate developing economies and are adopting various methods to grab the market share.
This study estimates the global market of smart gas meters, in terms of USD, till 2021. It also offers a detailed qualitative and quantitative analysis of this market. This report provides a comprehensive review of major market drivers, restraints, opportunities, and challenges of the market. The report also covers various important aspects of the market such as value chain, Porter's Five Forces model, competitive landscape, market dynamics, market estimates in terms of value, and future trends in the Smart Gas Meter Market
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