Global Gas Meters Market: Snapshot
The global market for gas meters has gained a significant momentum over the last few years. The rising usage of natural gas as the main fuel source, favorable regulations and laws regarding adoption of smart meters, and increasing need to eliminate losses during gas transmission and distribution have led to a tremendous progress of this market and are projected to remain doing so over the forthcoming years. However, the high initial and switching costs, limited capability to manage large data volumes generated from smart gas meters, and the growing adoption of hybrid metering systems may hamper the growth of this market to some extent in the near future.
Valued at US$2.3 bn in 2015, the global market for gas meters is likely to expand at a CAGR of 8.10% between 2016 and 2024 and reach a value of US$4.7 bn by the end of 2024.
Asia Pacific to Remain Leading Global Market for Gas Meters
Regionally, the global market for gas meters has been categorized into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Thanks to the increasing industrialization, the Asia Pacific market for gas meters has acquired the dominant position and is anticipated to remain leading throughout the forecast period. The growing consumption of natural gas in this region is also projected to boost this regional market over the next few years. China, Japan, India, Australia, and the ASEAN countries are likely to lead the market for gas meters in Asia Pacific in the years to come.
The Europe market for gas meters, which stood second in 2015, is also projected to witness steady growth over the next few years. The increasing implementation of strict regulations pertaining to the utilization of smart meters and the high adoption rate of natural gas as primary fuel in this region is expected to boost the demand for gas meters in Europe. The U.K., France, Germany, Italy, and Russia are likely to emerge as the leading domestic markets for gas meters in Europe.
Diaphragm Gas Meters to Continue to Attract High Demand
Diaphragm gas meters, rotary gas meters, turbine gas meters, and ultrasonic gas meters are the key type of products in the global gas meters market. Among these, diaphragm gas meters enjoy the most widespread utilization. The product segment held more than 60% of the overall market in 2015 and is expected to continue its lead with majority share throughout the forecast period. Rotary and turbine gas meters also attract a high demand and are anticipated to remain doing so over the next few years.
The key players functional in the global market for gas meters are ABB, APATOR SA, AEM S.A., Badger Meter Inc., Diehl Gas Metering GmbH, Betar Ltd., EDMI Ltd., General Electric, Elster GmbH, Itron Inc., Honeywell Process Solutions Inc., Landis+Gyr, Chongqing Shancheng Gas Equipment Co. Ltd., Qianwei Kromschroder Meters Chongqing Co. Ltd., and Dandong Dongfa (Group) Co. Ltd.
Global Gas Meters Market: Overview
The global gas meters market report by Transparency Market Research provides in-depth analysis of the gas meters market globally. The report segments the market on the basis of product type, application, and geography. The report analyzes the global gas meters market in terms of both gas meters annual sales volume (Units) and revenue (US$ Mn) for the year between 2016 and 2024. For this research study, the base year is 2015, whereas the forecast is from 2016 to 2024.
The report provides a comprehensive competitive landscape and features companies manufacturing gas meters. This report includes the key dynamics affecting the gas meters market globally. The analysis in the report provides detailed insights of the global gas meters market. The drivers, opportunities, and restraints of the market were analyzed in detail and are illustrated in the report. The report also provides a detailed industry analysis of the global Gas Meters with the help of the Porter’s Five Forces Analysis model.
Gas Meters Market: Segmentation Analysis
The research report is segmented into product type and application. Product type segment is further segmented into diaphragm gas meter, rotary gas meter, turbine gas meter, ultrasonic gas meter, and others. Application segment is further segmented into residential, commercial, and industrial. The global gas meters market has been segmented geographically into five regions and further into sub-segmented 14 unique country sub-segments. The regional segments are North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The 14 countries which have been separately addressed in this report are the U.S., Canada, the U.K., Germany, France, Russia, China, India, Japan, ASEAN, GCC, South Africa, Brazil, and Mexico.
On the basis of product type, diaphragm gas meters are the most widely used type of gas meters. Diaphragm gas meters hold around 70% market share of the global gas meters type segment. Rotary and turbine gas meters are also installed in large numbers. Turbine and ultrasonic gas meters are being installed at a very high rate across the globe. Other gas meters types include orifice gas meters and coriolis gas meters. These types of gas meters hold less than 10% market share of the global gas meters market.
On the basis of application, Residential application includes gas connections of individual houses, gas connections of buildings, and gas connections of individual flats in buildings. Commercial application includes gas connections of hotels, gas connections of restaurants, gas connections of malls, gas connections of shops, and other commercial facilities with gas connections. Industrial application includes power generation facilities with gas connections, manufacturing plants with gas connections, chemical plants with gas connections, and other industrial facilities with gas connections. Residential application dominated the global gas meters market with around 70% market share. Increasing residential gas connections are expected to boost the sales of gas meters for residential application during the forecast period.
Asia Pacific dominated the global gas meters market in terms of gas meters sales volume and revenue, in 2015. China, India, Japan, Australia, and ASEAN countries are some of the major countries in the Asia Pacific gas meters market. Increasing industrialization in the region have augmented the sales of gas meters. Increasing consumption of natural gas in the region has also boosted the sales of gas meters in Asia Pacific.
Global Gas Meters Market: Companies Mentioned in the Report
Some of the key market participants in the global Gas Meters market are ABB, AEM S.A., APATOR SA, Badger Meter Inc., Betar Ltd., Diehl Gas Metering GmbH, EDMI Ltd., Elster GmbH, General Electric, Itron Inc., Landis+Gyr, Honeywell Process Solutions Inc., Qianwei Kromschroder Meters Chongqing Co. Ltd., Chongqing Shancheng Gas Equipment Co. Ltd., and Dandong Dongfa (Group) Co. Ltd. among others. The report provides an overview of these companies, followed by their number of units sold, financial details, business strategies, and SWOT analysis. The global gas meters market has been segmented as follows:
Global Gas Meters Market: Regional Analysis
- North America
- The U.S.
- The U.K.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
Global Gas Meters Market: By Product Type
- Diaphragm gas meters
- Rotary Gas Meters
- Turbine Gas Meters
- Ultrasonic Gas Meters
- Other Types Gas Meters
Global Gas Meters Market: By Application Type