Gas Meter Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
9 Jun, 2023
The global gas meter market size is expected to grow from $4.43 billion in 2022 to $4.75 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global gas meter market size is expected to reach $6.23 billion in 2027 at a CAGR of 7.0%.
Global Gas Meter Market Key Driver
Rapid industrialisation is predicted to drive the growth of the gas metre market in the future. Industrialization is the process of changing a country's or region's economy into one based on mechanised manufacturing. The industrial revolution has had a huge impact on energy demand, and consumption of oil and natural gas is quickly increasing. Rapid urbanisation and industrialization, together with government attempts to promote the same, are likely to boost both the regional and worldwide gas metre markets.
Get a sample of the global gas meter market reportGlobal Gas Meter Market Segments
The global gas meter market is segmented:
1) By Type: Turbine Gas Meter, Ultrasonic Gas Meter, Diaphragm Gas Meter, Rotary Gas Meter, Other Types
2) By Technology: Smart And Automated, Conventional
3) By End User: Residential, Commercial, Industrial
4) By Geography: The regions covered in the gas meter market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global gas meter market.
Major Gas Meter Industry Players
Itron Inc., Landis+Gyr Corporation, ABB Ltd., Aclara Technologies LLC, Badger Meter Inc., Honeywell International Inc., Apator SA, General Electric Company, Elster Group SE, EDMI Ltd., Zenner International GmbH & Co., Schneider Electric SA, Diehl Stiftung & Co. KG, Sensus (Xylem Inc.), Emerson Electric Co., Genesis Gas Solutions P Ltd., Siemens AG, Endress+Hauser Inc.
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Gas Meter Market Overview
A gas meter is a device used for measuring the quantity or rate of flow of a gas through a designated path. They are important for accurate billing and monitoring of energy usage.
Gas Meter Global Market Report 2023 provides data on the global gas meter market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The gas meter market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.