New York, US, May 05, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Smart Gas Meters Market Research Report Information by Product, Region, and Application – Forecast Till 2030”, the global Smart Gas Meters market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 5.20%. The reports further predict the market will acquire nearly USD 4.22 billion by the end of 2030. As per the documents, the Smart Gas Meters market was valued at nearly USD 2.81 billion in 2022.
Smart Gas Meters Industry Overview:
Smart gas meters repeatedly measure the basic parameters like temperature, volume, and pressure of the gas flowing in the pipeline. Installation of smart gas meters across residential, commercial, and industrial spaces is the next step toward offering access to gas for each individual. The government’s policies and standards have pushed the smart gas meter market to boost-up the global GDP. Collaboration of gas exploring organizations with smart gas meter producers also contributes. No discrepancy in gas meters has guaranteed the market to drive rapidly over the assessment era. Furthermore, over the review era, the rise in safety standards and concerns has caused the global smart gas meter market to showcase substantial development. In addition, the increasing investment in smart grid projects and the requirement for efficient energy usage are also likely to influence the market’s growth positively over the coming years.
Competitive Analysis
The catalog for the prominent participants across the global smart gas meters market includes companies such as:
- Apator Group (Poland)
- Siemens AG. (Germany)
- Kamstrup A/S (Denmark)
- Badger Meter Inc. (U.S.)
- Schneider Electric (France)
- Itron Inc. (U.S.)
- Landis+Gyr (Switzerland)
- Honeywell International Inc. (U.S.)
- Aclara Technologies LLC (U.S.)
- EDMI (Singapore)
- Xylem Inc. (U.S.)
- DIEHL Metering (Germany)
- Zenner (Germany)
- Among others.
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Smart Gas Meters Market USP Covered
Market Drivers
The global Smart Gas Meters industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the rise in safety standards and concerns around the globe. Furthermore, the high development and demand for advanced metering infrastructure is also considered one of the crucial parameters supporting market development. The market has experienced several new technological advances in recent years, which are also projected to catalyze the development of the market over the assessment era. Collaboration among gas exploration firms and smart gas meter manufacturers also assists.
Market Restraints
On the contrary, some parameters may restrict the market’s development. The main parameter limiting the market’s development is the high costs associated.
Smart Gas Meters Market Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 4.22 billion |
| CAGR during 2022-2030 | 5.20% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Key Market Opportunities | Needs for efficient energy usage |
| Key Market Dynamics | Government roll outs Increasing investment in smart grid projects |
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COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Smart Gas Meters market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
Smart Gas Meters Market Segment Analysis
Among all the products, the diaphragms segment secured the top spot across the global Smart Gas Meters market in 2021. Diaphragm meters are positive displacement natural gas flow meters like rotary gas meters. They are usually used in residential and small business deployments to measure a minimal gas flow for billing purposes.
Among all the application areas, the residential sector segment ensured the lead across the global market for Smart Gas Meters in 2021, mainly due to the rising trend of using gas instead of fossil fuels for domestic purposes.
Smart Gas Meters Market Regional Analysis
The global market for Smart Gas Meters is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the Asia-Pacific region held the top position across the global Smart Gas Meters industry in 2021, with the largest contribution of around USD 1.23 billion. The region has China as the leading growth contributor, given mainly to the launch of its smart electric meters. Furthermore, with the growing energy consumption and regional aims for lowering greenhouse gas emissions, the installment of smart gas meters has been boosted in the last few years.
The European regional market for Smart Gas Meters is anticipated to secure the second spot across the global market over the coming years, given mainly to renewable energy sources to meet the region’s long-term and short-term green energy goals. Furthermore, the presence of major market players and ambitious gas meter rollouts is also likely to enhance the performance of the regional market over the coming years. Moreover, the region has Germany as the leading growth contributor.
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The North American Regional market for Smart Gas Meters is anticipated to showcase considerable development over the coming years. The region has the U.S. as the leading growth contributor given to the efforts to promote gas use and replace outdated infrastructure with modern technologies. On the other hand, Canada is anticipated to showcase the fastest growth over the coming years.
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