Smart Gas Meters Market - Introduction
Smart gas meters automatically evaluate the fundamental parameters of the gas flowing in the pipeline, such as pressure, quantity and temperature. These meters are vital to ensure appropriate gas pressure from the primary supply, to keep track of gas use and to provide precise bills. Gas meters are now accessible in various kinds and designs, providing distinctive advantages based on measurements of volumetric flow rate. Smart gas meter installation in industrial, commercial and residential areas is the next step towards offering each person with access to gas. Standards and policies from governments have pushed the market for intelligent gas meters to pump into global GDP. Gas exploration companies' collaboration with producers of intelligent gas meters also adds to the same. During the forecast period, the market is expected to develop exponentially.
Gas surveillance solutions such as smart gas meters are on their way to becoming a standard in the coming years due to increasing concerns about fast exhaustion of natural gas.
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Smart Gas Meters Market – Competitive Landscape
- In March 2018, Sensus (the Xylem brand) was chosen as the technology supplier for its meter modernization program by Nicor Gas, biggest natural gas distribution corporation in Illinois. The program is one of several investments made by Nicor Gas to upgrade and enhance its infrastructure for natural gas.
- September 2017, NAS introduced smart gas meter module in order to meet the European 2020 directive. Utilities and businesses using smart gas meters obtain more information on energy consumption, greater transparency, and more accurate and frequent billing decisions, faster service to end customers, and last but not least, they could be the primary element in altering environmental issues.
Founded in 1847, Texas Instruments is headquartered in Munich, Germany. Siemens AG is a corporation focused primarily on the fields of electrification, automation and digitalization. The firm also offers resource-saving technologies that are energy-efficient. Siemens is a provider of electrical and transmission technologies as well as medical diagnostics.
Incorporated in 1977, Itron is based in Washington, the U.S. Itron is an American technology firm offering energy and water resource management goods and services. Its products and services include smart grid, intelligent gas and smart water technology solutions that assess and evaluate the consumption of energy, gas and water. Its products include measuring equipment and control technology for electricity, gas, water and heat power.
Honeywell International Inc.
Established in 1906, Honeywell International Inc. is a manufacturer of variety of commercial and consumer products, engineering services and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments
Founded in 1836, Schneider Electric SE is based in Rueil-Malmaison, France. The French-based corporation possesses an expertise in the manufacturing of building automation, power and cooling systems for datacenters, home automation, smart grid, switches and sockets, electrical grid automation, industrial control systems, and industrial safety systems.
Some of the significant players in the Smart Gas Meters market are Apator SA., Badger Meter, Inc., Diehl Stiftung & Co. KG, Siemens AG, EDMI, GSL Consulting Limited. China and Sensus among others.
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Smart Gas Meters Market - Dynamics
Government policies and mandates in developed economies and increasing requirements for precise accounting and enhanced customer service
In the coming years, demand for intelligent gas meters is anticipated to increase worldwide due to multiple variables such as strict public regulations, development in urbanization, and increased demand for gas. Smart meters enhance the capacity of a utility to charge clients accurately and timely for the amount of gas used. Remote read-capacity enables for lower intervals between billing reads, better company preparation to understand future income streams, or constant capital flow. Smart meters play a major role in decreasing theft and safeguarding utility profits that act as drivers to the researched market. Smart meters can also decrease labor and time expenses as both methods are communicable with the information supplied on smart meters. These systems also support in-house displays that keep the consumer in real-time informed about the use of electricity.
Some smart meters give remote access to control and pay bills through mobile app synchronization. Most countries around the globe have restricted budgets assigned to smart system deployment. Consequently, most businesses either opt for distinct schemes or the price of installing the devices is passed on to the customer. Many users therefore opt out of using intelligent meters. However, in the intelligent metering industry, the most prominent restriction is the lack of capital financing. Smart systems are relatively more costly than most service suppliers and frequent metering facilities. It has extra costs to enable the capacity to communicate and to maintain regulatory compliance for such products acquired. These devices use digital parts and connectivity technologies for the operation and transmission of information. This raises the metering equipment's price.
Smart Gas Meters Market – Segmentation
The smart gas meters market can be segmented based on:
- End User
Smart Gas Meters Market Segmentation – By Type
Based on the type, the smart gas meters can be fragmented into:
- Automatic Meter Reading
- Advanced Metering Infrastructure
Smart Gas Meters Market Segmentation – By End User
Depending on the end user, the smart gas meters market can be bifurcated into:
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