What Has Been the Growth of the Gas Meter Market So Far?
The gas meter market has seen considerable growth due to a variety of factors.
• The market size for gas meters has experienced robust growth lately. Projected to escalate from $5.06 billion in 2024 to $5.42 billion in 2025, it has a compound annual growth rate (CAGR) of 7.0%.
The surge in growth during the historical phase can be attributed to factors such as a robust economic upturn in emerging markets, heightened industrialization, growing safety considerations, and the aging infrastructure of gas distribution networks.
What Are the Future Growth Projections for the Gas Meter Market?
The gas meter market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the gas meter market is projected to experience robust expansion, reaching a value of $7.25 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%.
This anticipated surge during the forecast period can be credited to factors such as fast-paced urbanization, increased government backing, and uptick in natural gas usage. Highlighted trends during this forecast period will comprise the incorporation of IoT for enhanced data analytics and predictive maintenance, the advent of new and innovative meters for gas distribution, the deployment of prepayment gas meters aiding consumers in managing their budgets more proficiently, and an emphasis on partnerships and collaborations to produce intelligent metering solutions.
What Are the Critical Driver Fuelling the Gas Meter Market's Growth?
The expansion of quick industrialization is anticipated to boost the gas meter market's growth in the future. This process of industrialization, which involves the transformation of a region or nation's economy towards mechanized manufacturing, has a profound influence on energy demand. The consumption of oil and natural gas is seeing a swift increase as a result of this. Quick urbanization and industrialization, bolstered by government initiatives endorsing these developments, especially in emerging regions, promise to benefit the local and international gas meter markets. For example, a report by the United Nations Industrial Development Organization (UNIDO), an Austria-based UN agency dedicated to aiding countries in their economic and industrial development, articulated in March 2023 that global manufacturing production had seen a 3-4% year-on-year rise in the last quarter of 2022. Consequently, the acceleration of industrialization is set to propel the growth of the gas meter market.
What Are The Major Segments Within The Gas Meter Market?
The gas meter market covered in this report 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
Subsegments:
1) By Turbine Gas Meter: Industrial Turbine Gas Meters, Commercial Turbine Gas Meters
2) By Ultrasonic Gas Meter: Compact Ultrasonic Gas Meters, Multi-Path Ultrasonic Gas Meters
3) By Diaphragm Gas Meter: Residential Diaphragm Gas Meters, Industrial Diaphragm Gas Meters
4) By Rotary Gas Meter: Positive Displacement Rotary Gas Meters, Multi-Jet Rotary Gas Meters
5) By Other Types: Coriolis Gas Meters, Vortex Gas Meters
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Which Trends Are Expected To Transform The Gas Meter Market?
A major trend capturing attention in the gas meter market is technological innovation. The principal corporations in the sector are concentrating on the creation of novel products to fortify their market standing. Take for example the case of Itron Inc., an American technology company offering energy and water resource management solutions and services. November 2022 saw the company unveiling the Itron Intelis gFlex prepayment gas meter. This is a state-of-the-art meter that masterfully amalgamates the latest ultrasonic solid-state measuring technology with Itron's accumulated 30-year experience in prepaid metering. With the integration into a hassle-free SaaS system and managed through diverse combinations of vending channels and credit transfer options, Intelis gFlex aids utilities in securing revenue and diminishing financial risk. In addition, the prepayment meter will help utilities improve client satisfaction and reduce the burden on call centers through the use of a customer website and mobile application designed for top-up and monitoring purposes.
Who Are the Key Players in the Gas Meter Market?
Major companies operating in the gas meter market include:
• Honeywell International Inc
• Xylem Inc
• Siemens AG
• Emerson Electric Co.
• Endress + Hauser
• Apator SA
• Landis + GYR Group AG
• ABB Ltd
• Badger Meter Inc
• EDMI Limited
• Panasonic Holdings Corporation
• Smartmeters Technologies Pvt. Ltd
• Genesis Gas Solutions Private Limited
• Secure Meters Limited
• Schneider Electric India
• Rihtek Automation Pvt. Ltd
• Tokyo Gas Meter Co. Ltd
• Chugoku Gas Meter Co. Ltd
• Aichi Tokei Denki Co Ltd
• AES Smart Metering Ltd
• British Gas Metering Operations
• E.ON
• EDF Energy
• Energy Assets Ltd
• IMServ Europe Ltd
• Jersey Electricity
• Lowri Beck Services Ltd
• PROLA SA
• ENVEA
• KROHNE
• Furness Controls
• Mac Instruments
• Bopp and
• Reuther
• Kinequip Inc
• Intellimeter Canada Inc
• Norgas Controls
• Metercor
• Fgs Brasil Ind Com Ltda
• Itron Solucoes Para Energia E Agua Ltda
• Agilent Technologies Brasil Ltda
• Buzas Industria E Comercio Ltda
• Fluenta
• KopaGas Ltd
• MaasaraGazz Metro
What Is The Most Dominant Region In The Gas Meter Market?
Asia-Pacific was the largest region in the gas meter market in 2024. The regions covered in the gas meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
