Smart Gas Meter Market to hit 190 million units by 2024
OCEAN VIEW, Del., Aug. 25, 2017 /PRNewswire-iReach/ -- Smart Gas Meter Market is set to cross USD 11 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising demand for billing accuracy coupled with effective mapping of customer consumption pattern will boost the global smart gas meter market growth. Scarcity of available resources will exert additional pressure on the conservation measures adopted to control energy wastage.
Smart gas meter market size from Automated Metering Infrastructure (AMI) technology is set to exceed 30 million units by 2024. Adoption of AMI systems are low subject to high installation costs associated. Automatic Meter Reading (AMR) systems will see strong gains owing to widespread adoption of the technology for the past two decades. However, data security concerns related to consumption tracking coupled with customer unwillingness are significant challenges to growth.
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U.S. smart gas meter market size is projected to witness robust growth owing to strict regulations mandated by American Recovery and Reinvestment Act (ARRA) towards accurate billing coupled with rising adoption of meters. In 2009, ARRA in association with the Department of Energy (DOE) invested more than USD 30 billion to encourage a wide range of clean energy projects across the nation including smart grid enhancement to reduce energy costs.
Japan is a mature market as it was among the first nations in the world to adopt these systems. Tokyo Gas, one of largest gas providers in the country, has nearly 2 million subscribers and has been providing these products since 1998.
Strict regulations towards smart system deployment to accurately track gas consumption will stimulate demand. EU Directive 2009/73/EC mandates member states to educate consumers on the difference between conventional metering systems and intelligent meters. The directive also requires regulators to protect customers from increased rates owing to time-of-use pricing data and ensuring billing accuracy.
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UK accounted for over 15% of the Europe smart gas meter market share in 2016. Favorable directives set by the Office of Gas and Electricity Markets (OFGEM) and the Department of Energy and Climate Change (DECC) will complement demand. Government of UK aims to install advanced meters in every household by 2020.
Residential smart gas meter market dominates the application landscape, owing to affordable gas prices and growing consumer awareness. Commercial applications are anticipated to witness strong growth during the forecast timeframe subject to rising adoption of gas as an alternative to traditional resources. Increasing demand for these products is directly linked to the developing grid infrastructure coupled with expansion of gas pipeline networks.
Notable players in the smart gas meter market include Itron, Siemens, Landis+GYR, Schneider Electric, Circutor, Sensus Sentec, Icsa, Iskraemeco, Holley Metering, Honeywell International, Osaki Electric, Elster Group, Neptune and Badger Meter.
Browse key industry insights spread across 200 pages with 304 market data tables & 9 figures & charts from the report, "Smart Gas Metering Systems Market Size, By Application (Residential, Commercial, Utility), By Technology (AMR, AMI), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK, Sweden, Portugal, China, Japan, South Korea, India, Australia, UAE, Saudi Arabia, South Africa, Lebanon, Egypt, Mexico, Brazil, Uruguay, Argentina) Competitive Market Share & Forecast, 2017 - 2024" in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/industry-analysis/smart-gas-metering-systems-market
Chapter 4 Smart Gas Metering Systems Market, By Application
4.1 Smart gas metering systems market share by application, 2016 & 2024
4.2 Residential
4.2.1 Residential smart gas metering systems market, 2013 - 2024
4.2.2 Residential smart gas metering systems market, by region, 2013 - 2024
4.3 Commercial
4.3.1 Commercial smart gas metering systems market, 2013 - 2024
4.3.2 Commercial smart gas metering systems market, by region, 2013 - 2024
4.4 Utility
4.4.1 Utility smart gas metering systems market, 2013 - 2024
4.4.2 Utility smart gas metering systems market, by region, 2013 - 2024
Chapter 5 Smart Gas Metering Systems Market, By Technology
5.1 Smart gas metering systems market share by technology, 2016 & 2024
5.2 AMR
5.2.1 AMR smart gas metering systems market, 2013 - 2024
5.2.2 AMR smart gas metering systems market, by region, 2013 - 2024
5.3 AMI
5.3.1 AMI smart gas metering systems market, 2013 - 2024
5.3.2 AMI smart gas metering systems market, by region, 2013 - 2024
Browse Full TOC @ https://www.gminsights.com/toc/detail/smart-gas-metering-systems-market
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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