China Smart Meter Industry Report, 2019-2026
NEW YORK, May 4, 2020 /PRNewswire/ -- In 2019, instrument and meter companies (each with annual revenue over RMB20 million) in China collectively registered RMB724.26 billion in revenue and RMB70.04 billion in net income, up by 5.5% and 5.9% on an annualized basis, separately; and the output value of the industry totaled RMB1,102.7 billion.
Read the full report: https://www.reportlinker.com/p04420306/?utm_source=PRN
Favorable policies and robust demand contribute to the fast growing smart meter industry in China. In 2019, China shipped 210.6 million smart meters, 6.4% more than that in the previous year. Chinese smart meter market was worth RMB34.28 billion in 2019.
The growing number of households, the flourishing development of internet of things, and the differential pricing policy will give a big boost to China's smart meter industry which is expected to be valued at RMB58.43 billion in 2026.
In current stage, smart electric meters boast a relatively high penetration in China, sharing more than 50% of the market. By one estimate, in the upcoming several years, the higher market shares of smart gas meters and smart water meters will come with their wider use, while that of smart electric meters will be on the decline.
Smart electric meter: in 2019, the smart electric meter market in China was worth RMB18.5 billion, with shipments and installations reaching 141.7 million and 94.5 million units, respectively, among which single-phase meters dominated with market share of 86.7%. Currently, typical smart electric meter manufacturers in China include Hangzhou Sunrise Technology Co., Ltd., Hexing Electrical Co., Ltd., Jiangsu Linyang Energy Co., Ltd. and Jilin Jinguan Electric Co., Ltd.. In 2019, XJ Group Corporation which commanded 7.2% of the market, ranked first in State Grid's biddings for smart electric meters.
Smart water meter: in 2019, the smart water meter market in China was valued at RMB RMB6,147 million, with shipments and penetration reaching 27.105 million units and 32.7%, separately. At present, smart water meter manufacturers in China are led by Huizhong Instrumentation Co., Ltd., Sanchuan Wisdom Technology Co., Ltd., Suntront Technology Co., Ltd. and Ningbo Water Meter Co., Ltd., among which Ningbo Water Meter Co., Ltd. as the bellwether occupied 7.3% of the market in 2018 and registered revenue of RMB405.7 million from smart water meters.
Smart gas meter: in 2019, the smart gas meter market in China was worth RMB7.62 billion, with shipments and penetration reaching 38.1 million units and 65.4%, separately. Leading producers of smart gas meter are comprised of Goldcard Smart Group Co., Ltd., Zhejiang Viewshine Intelligent Meter Co., Ltd., Hangzhou Innover Technology Co., Ltd., Chengdu Qianjia Technology Co., Ltd., Shaanxi Aerospace Power Hi-Tech Co., Ltd. and Suntront Technology Co., Ltd.. Among them, Goldcard Smart Group Co., Ltd. commanded 14.4% of the market in 2018 when its smart gas meter revenue was RMB960.22 million.
Smart heat meter: China's sales of smart heat meters reached 3.65 million units in 2019, and will sustain CAGR of 3.8% during 2019-2026. Main players are Weihai Ploumeter Co., Ltd., Huizhong Instrumentation Co., Ltd., Meter Instruments Co., Ltd. and Suntront Technology Co., Ltd., to name a few. In 2019, Weihai Ploumeter Co., Ltd. would rank first with market share of 15.7%, followed by Huizhong Instrumentation Co., Ltd. 14.1%.
Highlights in the report:
Instrument and meter industry (China and global markets);
China smart meter industry (development environment, market size, market structure, competitive pattern, etc.);
China smart meter industry segments (smart electric meter, smart water meter, smart gas meter and smart heat meter);
6 global and 17 smart meter companies.
Read the full report: https://www.reportlinker.com/p04420306/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001
View original content:http://www.prnewswire.com/news-releases/china-smart-meter-industry-report-2019-2026-301051742.html
SOURCE Reportlinker
