Gas Meters Market - Snapshot
According to a new market report published by Transparency Market Research titled “Gas Meters Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global gas meters market is expected to reach US$ 8,152.63 Mn by 2026. The market is projected to expand at a CAGR of 9.05% during the forecast period from 2018 to 2026. According to the report, the global gas meters market will continue to be influenced by the increase in the natural gas demand across the globe especially from emerging economies such as China and India. North America is projected to be at the forefront of global demand, with the market in the region growing at a CAGR of above 8% through 2026.
Smart meters segment to be the fastest growing throughout the forecast period
The global gas meters market is segmented by technology into standard meters and smart meters. The standard meters segment occupied a major revenue share in 2017 because of its low price and extensive adoption for various applications. The smart meters segment is anticipated to expand at the fastest CAGR due to the norms and regulations introduced by the governments of various regions pertaining to the installation and adoption of gas meters for industrial as well as residential consumers.
Residential segment to witness healthy growth during the forecast period
In terms of end-use application, the gas meters market is segmented into residential, commercial, and industrial. The residential segment is expected to be the fastest growing segment throughout the forecast period. This fast pace of growth can be attributed to the implementation of regulatory norms for households by governments of various countries in order to reduce wastage and avoid theft of gas. The residential segment is expected to expand at a healthy CAGR of 9.91% over the forecast period.
North America expected to continue to hold significant share in the overall market
North America is expected to hold highest market share in the gas meters market during the forecast period. This is mainly due to the increasing demand for gas meters from industrial as well as residential consumers in the region in addition to the bolstering natural gas demand and consumption.
Gas meters are gaining popularity across the Asia Pacific region, especially across economies such as China and India. This popularity is due to the increasing gas demand and growing investments by gas utility companies in the region for the installation of gas meters. For instance, in April 2018, Tata Communications, a telecommunication solution and services provider announced that it will be working with Mahanagar Gas, a domestic gas utility company to deploy around 5,000 gas meters in the city of Mumbai, India.
Furthermore, the Middle East & Africa region is witnessing a steady increase in the number of investments in the energy sector which includes oil & gas sector. This represents significant growth opportunities for gas meters which would experience a spike in demand for their deployment in the industrial as well as residential sector.
ABB, Itron, Inc., APATOR S.A., Badger Meter, Inc., Diehl Foundation & Co. KG, Landis+Gyr, Honeywell Process Solutions, Inc., Zenner, EDMI Limited, and AEM SA among others are the key players of this market. Details such as financials, business strategies, recent developments, product implementation expertise, key contracts, certified professionals, gas meter offerings, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
The “Gas Meters Market [Technology – Standard Meters and Smart Meters; Type – Diaphragm, Rotary, Turbine, Ultrasonic and Others; Application – Residential, Commercial, and Industrial] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026” report provides analysis of the gas meters market for the period 2016–2026, wherein the years from 2018 to 2026 is the forecast period and 2017 is considered as the base year. Data for 2016 has been included as historical information. The report covers all the trends and technologies playing a major role in the growth of the gas meters market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the market’s growth in terms of revenue (in US$ Mn) and volume (Million units) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report highlights the key trends affecting the market on a global scale. Furthermore, region wise prominent countries/regions covered in the report includes the U.S, Canada, Germany, France, U.K, India, China, Japan, GCC countries, South Africa, and Brazil.
Global Gas Meters Market: Overview
The report comprises a detailed ecosystem analysis, which provides a comprehensive view of the global gas meters market. Porter’s Five Forces model has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Gas Meters Market: Taxonomy
This research study on the global gas meters market provides a detailed cross segment and cross country analysis based on the different segments
Global Gas Meters Market: Research Methodology
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, national government documents, statistical databases, and market reports, Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with end use participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on the market size, market trends, growth trends, competitive landscape, and outlook, etc. These help us to validate and strengthen secondary research findings. These also help to develop the analysis team’s market expertise and understanding.
Global Gas Meters Market: Competitive Dynamics
The report covers well-established players including ABB, Itron, Inc., APATOR S.A., Badger Meter, Inc., Diehl Foundation & Co. KG, Landis+Gyr, Honeywell Process Solutions, Inc., Zenner, EDMI Limited, and AEM SA. These established players are engaged in the development and introduction of innovative gas meters for residential as well as commercial customers in the market. Furthermore, they are forming strategic partnerships in order to capture higher market share. For instance, in February 2017, Zenner a prominent gas meter provider, entered into a partnership with Germany based SmartMakers, which provides customers with IoT networks to develop new IoT solutions and add digital products and services to its portfolios.
The gas meters market has been segmented as below:
Global Gas Meters Market, by Technology
- Standard Meters
- Smart Meters
Global Gas Meters Market, by Type
- Diaphragm meter
- Rotary meter
- Turbine meter
- Ultrasonic meter
Global Gas Meters Market, by Application
Global Gas Meters Market, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America