The global smart gas meter market is foreseen to reach USD 10.92 billion by 2026, displaying a CAGR of 6.3% between 2019 and 2026. This is attributable to the increasing demand for energy from residential, industrial, and commercial purposes. Gas is a primary necessity in every household for various applications such as room heating, water heating, or cooking, and others. Gas meters allow having a transparent reading of the amount of energy used, thus avoiding unaccounted consumption and evaluation of monthly tariffs. Such advantages offered by smart gas meters are likely to bode well for the market, thus promoting the smart gas metering market trends in the forecast duration.
The report published by Fortune Business Insights™ titled, “Smart Gas Meter Market Size, Share & Industry Analysis, By Type (Advanced Metering Infrastructure and Auto Meter Reading) By Application (Residential, Industrial, and Commercial), and Regional Forecast, 2019-2026” provides a comprehensive analysis on the market and its major growth trajectories. As per this report, the market stood at USD 6.76 Billion in 2018.
According to the report, increasing investments in smart grid infrastructure and smart cities is projected to boost the global smart gas meter market during the forecast period. Additionally, the ongoing development of gas pipeline networks, rising government regulations and policies in emerging countries, and enhanced customer service are expected to contribute to the growth of the global market.
The report offers an elaborate study of the global smart gas meter market along with the key developments and current market trends. It further provides information regarding growth drivers, obstacles, key market players, and opportunities.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Top Players Overview:
Fortune Business Insights has listed some of the prominent market players operating in the global smart gas meter market. They are as follows:
- General Electric Company
- Pietro Fiorentini
- Wasion Group Holdings
- Honeywell International, Inc.
- Diehl Stiftung GmbH & Co. KG
- Landis + Gyr Group AG
- Aichi Tokei Denki
- Zenner International GmbH & Co. KG
- Sensus U.S.A., Inc.
- Meter Italia
- Itron, Inc.
- Yazaki Corporation
- Apator SA
- Other market players
Landis+Gyr Deploys 20 Million Smart Meters to Tokyo Electric Power Company
In March 2019, Landis+Gyr, a provider of advanced smart metering technology, headquartered in Switzerland, announced the deployment of smart meters and other intelligent devices to approximately 20 million people at Tokyo Electric Power Company (TEPCO). The project would be over by 2020. Once the project gets over, the IoT network of the utility will connect around 30 million consumer and utility devices by using the Wi-SUN home energy management interoperability standard and a wide range of communication technologies.
Significant Industry Developments of Smart Gas Metal Installation Market Includes:
April 2019 – Aclara Technologies and OVO Energy collaborated for implementing the new SMETS2 meter. The companies aim at modernizing the already existing grids and combine with the smart meter rollout program of the UK.
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