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Gas Meter Market Size Is Projected To Reach USD 11.2 Billion By 2030, Growing At A CAGR Of 6.8%: Straits Research
| Report Metric | Details |
| Market Size by 2030 | USD 11.2 billion |
| Market Size in 2021 | USD 6.2 billion |
| CAGR | 6.8% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, End-Use Industry |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | General Electric, Itron, Elster, Landis+Gyr, ABB, Aclara, Badger Meter |
| Key Market Opportunities | National Plans for the Modern Gas Networks and Smart Grid Facilities |
| Key Market Drivers | Operational Safety and Increase in Efficiency of Gas Usage |
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Regional Insights
Region-wise, the global gas meter market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe was the highest revenue contributor and is estimated to grow at a CAGR of 6.1%. Europe is analyzed across Germany, France, Italy, Spain, the U.K., and the rest of Europe. Increased concern toward energy conservation and government regulation regarding energy management is expected to drive market growth. Moreover, the strong presence of industry players such as Landis+Gyr, KROHNE, and ABB is expected to influence the domestic market demand. The rise in digitization and the growing prominence of energy-saving are expected to drive the market growth. Deployment of gas meters will provide timely data on gas consumption and leakage, which will further help utility providers to forecast market demand.
Asia-Pacific is the fastest-growing region. Asia-Pacific consists of China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. China primarily dominates the market for gas meters due to significant demand from the industrial sector. Moreover, hotels, school canteens, institutions, and commercial outlets are suitable for smart gas meters for centralized management. Further, the initiative from China's national development and reform commission to build a longstanding mechanism to guarantee a stable gas supply will positively impact the market growth. However, the significant presence of coal and oil energy in countries such as China, India, and Indonesia influenced natural gas consumption. For instance, the natural gas market in Asia-Pacific accounts for only 10% of the global market share, whereas the Asia-Pacific coal consumption accounts for 44% of the worldwide market share. Such factors are expected to create significant challenges for the market players.
North America is the second largest region. It is estimated to grow at a CAGR of 7.1%. The North American gas meter market comprises the U.S., Canada, and Mexico. Implementing intelligent meters in commercial and large residential areas, especially in the U.S. and Canada, is expected to boost market growth. The government's mandatory installation of smart meters in households and commercial spaces is also anticipated to increase the gas meter market growth in the North American region. Natural gas is utilized in around 58% of residential sectors in the U.S. The emergence of advanced metering infrastructure (AMI), an integrated system of smart meters, is expected to create new market opportunities.
Key Highlights
- The global gas meter market size is projected to reach USD 11.2 billion by 2030 , growing at a CAGR of 6.8% during the forecast period (2022-2030). Based on product type, the global gas meter market is divided into the traditional gas meter and smart gas meters. The smart gas meters segment dominated the market and is estimated to grow at a CAGR of 7.2% during the forecast period. Growth in the emphasis of smart meter devices in commercial and large industrial areas is one of the significant factors influencing market growth. Furthermore, strong support from governments across the globe further drives the market growth of various gas meters. However, the emergence of smart meters and remote monitoring and inspection of gas consumption through smart meters are anticipated to create new market opportunities. By end-user, the global gas meter market is classified into residential, commercial, and industrial. The residential segment dominated the market and is estimated to grow at a CAGR of 6.7% during the forecast period. In large residential areas, utility providers install gas meters to measure the monthly gas consumption. It is installed between a residential area's gas line and distribution point. Moreover, with smart meters and remote monitoring, utility providers can easily track the monthly natural gas consumption. However, the automatic billing through smart residential meters made revenue collection more accessible than before (with conventional gas meters). Growth in disposable income and lifestyle changes will increase the end-users of smart energy in residential areas.
Competitors in G as Meter Market
- General Electric Itron Elster Landis+Gyr ABB Aclara Badger Meter
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Segmentation of Global Gas Meter Market
By Product Type
- Traditional Gas Meter Smart Gas meter
By End-Use Industry
- Residential Industrial Commercial
By Region
- North America Europe Asia-Pacific LAMEA
TABLE OF CONTENT
EXECUTIVE SUMMARY RESEARCH SCOPE & SEGMENTATION RESEARCH OBJECTIVES MARKET DEFINITION LIMITATIONS & ASSUMPTIONS MARKET SCOPE & SEGMENTATION CURRENCY & PRICING CONSIDERED MARKET OPPORTUNITY ASSESSMENT EMERGING REGIONS / COUNTRIES EMERGING COMPANIES EMERGING APPLICATIONS / END USE INVESTMENT LANDSCAPE NEW BUSINESS MODELS / REVENUE STREAMS TAM MARKET TRENDS DRIVERS MARKET WARNING FACTORS LATEST MACRO ECONOMIC INDICATORS GEOPOLITICAL IMPACT HUMAN FACTORS TECHNOLOGY FACTORS MARKET ASSESSMENT PORTERS FIVE FORCES ANALYSIS VALUE CHAIN ANALYSIS RAW MATERIAL ANALYSIS SALES AND DISTRIBUTION CHANNEL ANALYSIS TRADE ANALYSIS AVERAGE PRICING ANALYSIS CASE STUDY ANALYSIS PATENT ANALYSIS M & A AGREEMENTS & COLLABRATION ANALYSIS EXPORT IMPORT ANALYSIS COST STRUCTURE ANALYSIS ESG TRENDS GLOBAL GAS METER MARKET SIZE ANALYSIS GLOBAL GAS METER MARKET INTRODUCTION BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE NORTH AMERICA MARKET ANALYSIS INTRODUCTION BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE U.S. BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE CANADA EUROPE MARKET ANALYSIS INTRODUCTION BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE U.K. BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE GERMANY FRANCE SPAIN ITALY RUSSIA NORDIC BENELUX REST OF EUROPE APAC MARKET ANALYSIS INTRODUCTION BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE CHINA BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE KOREA JAPAN INDIA AUSTRALIA TAIWAN SOUTH EAST ASIA REST OF ASIA-PACIFIC MIDDLE EAST AND AFRICA MARKET ANALYSIS INTRODUCTION BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE UAE BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE TURKEY SAUDI ARABIA SOUTH AFRICA EGYPT NIGERIA REST OF MEA LATAM MARKET ANALYSIS INTRODUCTION BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE BRAZIL BY PRODUCT TYPE INTRODUCTION PRODUCT TYPE BY VALUE TRADITIONAL GAS METER BY VALUE SMART GAS METER BY VALUE BY END-USE INDUSTRY INTRODUCTION END-USE INDUSTRY BY VALUE RESIDENTIAL BY VALUE INDUSTRIAL BY VALUE COMMERCIAL BY VALUE MEXICO ARGENTINA CHILE COLOMBIA REST OF LATAM COMPETITIVE ASSESSMENT ADOPTION MATRIX GAS METER MARKET SHARE BY MANUFACTURERS GAS METER MARKET RANKING BY REVENUE FOR MANUFACTURERS AVERAGE PRICE BY MANUFACTURERS VENDOR FOOTPRINT ANALYSIS MARKET PLAYERS ASSESSMENT GENERAL ELECTRIC OVERVIEW BUSINESS INFORMATION REVENUE ASP GROSS MARGIN SWOT ANALYSIS RECENT DEVELOPMMENTS ITRON ELSTER LANDIS+GYR ABB ACLARA BADGER METER RESEARCH METHODOLOGY RESEARCH DATA SECONDARY DATA MAJOR SECONDARY SOURCES KEY DATA FROM SECONDARY SOURCES PRIMARY DATA KEY DATA FROM PRIMARY SOURCES BREAKDOWN OF PRIMARIES SECONDARY AND PRIMARY RESEARCH KEY INDUSTRY INSIGHTS MARKET SIZE ESTIMATION BOTTOM-UP APPROACH TOP-DOWN APPROACH MARKET PROJECTION RESEARCH ASSUMPTIONS ASSUMPTIONS LIMITATIONS RISK ASSESSMENT APPENDIX DISCUSSION GUIDE CUSTOMIZATION OPTIONS RELATED REPORTS DISCLAIMERTable of Content and Figure @
Recent Development
- May 2022 - Itron, Inc., which is innovating how utilities and cities manage energy and water, is expanding its long-term collaboration with Microsoft to accelerate cloud adoption and the next generation of consumer and grid edge solutions for the utility and smart cities industries. The partnership uniquely combines Itron's leading energy management solutions and Microsoft's leading cloud solutions to transform how end-users view and manage their energy and how utilities meet the demands of a rapidly changing industry. Itron is working with Microsoft to develop solutions that deliver unprecedented insights and benefits for utilities, communities, and enterprises to reach their goals, including grid resilience, consumer engagement, operational efficiency, and decarbonization.
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About Straits Research Pvt. Ltd.
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