Global Smart Gas Meters Market Report 2022: Market to Reach $8 Billion by 2026 - Smart City, the New Urban Infrastructure Concept to Fuel Next Wave of Growth

DUBLIN, April 14, 2022 /PRNewswire/ -- The "Smart Gas Meters - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Smart Gas Meters Market to Reach $8 Billion by 2026

The global market for Smart Gas Meters estimated at US$5.8 Billion in the year 2020, is projected to reach a revised size of US$8 Billion by 2026, growing at a CAGR of 5.7% over the analysis period. 

Gas utilities the world over are however facing mounting challenges in ensuring safe, efficient, and cost-effective delivery of natural gas. Few of the many economic and environmental challenges faced by gas utilities include volatile gas prices; expanding population and the resulting need to meet new gas infrastructure and replace aging infrastructure; need for improving safety standards; safeguard limited natural gas resources; and meet stringent existing and upcoming regulations, among others.

Against the backdrop, smart gas solutions emerge as the perfect platform for enabling proactive monitoring, metering, measuring, regulating, and safeguarding of gas resources. The increasing adoption of sophisticated technologies such as advanced metering infrastructure, which is revolutionizing the electric power sector, is now having positive impact on water and gas sectors.

Automatic Meter Reading (AMR), one of the segments analyzed in the report, is projected to record 4.9% CAGR and reach US$6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Advanced Meter Infrastructure (AMI) segment is readjusted to a revised 7.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.1 Billion in 2021, While China is Forecast to Reach $2.8 Billion by 2026

The Smart Gas Meters market in the U.S. is estimated at US$1.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2026 trailing a CAGR of 6.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.5% respectively over the analysis period.

The market is expected to witness healthy growth, supported by rising demand for natural gas, surging capital expenditure on gas infrastructure, the increasing focus on development of sufficient and efficient distribution networks, and technological advancements.

Demand is expected to improve significantly in the near term, driven by the strong capital investment in gas infrastructure worldwide to meet the growing production and supply of natural gas. As efforts to cut down greenhouse gas emissions gain traction around the world, natural gas is becoming a preferred fuel for utilities.

The growing use of gas as fuel and advent of advanced technologies to track energy consumption are driving growth in the smart gas meters market. The growing shift towards clean energy solutions including natural gas is thus expected to stimulate demand for smart gas meters. Favorable government policies and mandates as well as the improved need for accurate billing and enhanced customer services are contributing to increased demand for smart gas metering solutions.

Smart meters are critical for reducing instances of theft and leakage, and hence assist in safeguarding revenues of utilities. Data transmitted from smart meters to utilities helps in timely actions to be taken based on gas consumed by the consumer. Dynamics of the global smart gas meters market is significantly influenced by the investments in gas pipeline networks, as well as government efforts to promote smart cities and smart grid infrastructure facilities.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of COVID-19 Pandemic on Smart Meters Market
• Smart Gas Solutions: Enabling Intelligent Metering, Monitoring, Measuring and Control of Gas
• Smart Gas Meters: Gateway to the Digital Transformation of Utilities
• A Note on Communication Infrastructure for Smart Gas Networks
• Global Market Prospects & Outlook
• AMR Meters Continue to be Major Device Type, AMI Meters Exhibit Fast Paced Growth
• While Developed Regions Remain Primary Revenue Contributors, Developing Regions Hold Strong Growth Potential
• Competitive Landscape
• American & European Vendors Dominate the Market
• Asian Enterprises Aim to Widen Market Footprint
• Novel Strategies Take Center Stage amid Escalating Competition
• Analytics: New Revenue Source for Software Vendors
• World Gas Meters Market: Market Share Findings

2. FOCUS ON SELECT PLAYERS (Total 75 Featured) 

• ABB Ltd.
• Aclara Technologies LLC
• Aidon Oy
• Badger Meter, Inc.
• Capgemini SA
• CGI Group Inc.
• Chongqing Shancheng Gas Equipment Co., Ltd.
• CyanConnode Holdings PLC
• Dandong Dongfa (Group) Co., Ltd.
• Diehl Metering GmbH
• DTE Energy Co.
• EDMI Ltd.
• GE Grid Solutions
• Holley Technology Ltd.
• Iskraemeco d.d.
• Itron, Inc.
• Landis+Gyr
• Schneider Electric SE
• Sensus
• Tantalus Systems, Inc.
• Trilliant Holdings, Inc.

3. MARKET TRENDS & DRIVERS

• Laying Strong Foundation for the Digital Transformation of Gas Infrastructure, Smart Gas Metering Solutions Seek to Revolutionize Gas Utility Operations
• Growing Relevancy of Smart Metering Solutions in Modern Gas Utility: An Overview
• Utility Modernization & Upgrade Programs Create Highly Conducive Environment for Smart Gas Market
• Demographic Dynamics Spur Energy Demand & Need for Reliable Gas Infrastructure, Creating Opportunities for Smart Gas Technologies
• A Note on Energy Demand Patterns
• Urbanization Trend Instigates the Need for Modern Gas Utility Network
• Smart City, the New Urban Infrastructure Concept, to Fuel Next Wave of Growth
• Emergence of Natural Gas as Reliable Energy Source & Parallel Increase in Gas Infrastructure Investments Creates Fertile Environment
• Offering Myriad Benefits, Natural Gas Withstands Competition from Renewable Energy Sources
• Evolving Image of Shale Gas as a Viable Energy Source Bodes Well for the Market
• Technically Recoverable Shale Gas (In Trillion Cubic Feet) by Geographic Region
• Surging Demand for Fuel Gas Steers Market Penetration
• Global Natural Gas Reserves (in % Volume) by Geographic Region
• Residential Vertical Remains the Dominant Segment for Consumer-Grade Smart Gas Solutions
• Growing Consumer Spending on Smart Home Technologies Favors Growth
• Smart Gas Solutions Gain Traction in Commercial & Industrial End-Use Domains
• Need to Improve Functionality & Efficiency Paves Way for Wider Uptake of Utility Automation & Control Solutions
• SCADA Systems
• Real-Time Data
• Big Data and IoT: Next Frontiers for Smart Gas
• Smart Gas Technologies Emphasize IIoT Ecosystem in Gas Utility
• Cloud-based Software Solutions: Next Big Thing in Gas Networks
• On-Premises Vs. Cloud-based Software: A Cost Comparison Analysis
• Wireless Communication Systems Gain Traction in Smart Gas Networks
• Regulations & Standards Instigate New Demand for Smart Gas Infrastructure Solutions
• Regulators and Utilities Address Consumer Concerns about Smart Gas Solutions
• Resolving Prevailing Challenges: Critical for Future Success of the Market
• High Deployment Costs
• Lack of Unified Standards & Interoperability Issues
• Privacy & Data Security Concerns
• Declining Natural Gas Prices & Lack of Incentives
• Improving Battery Lifetime: Need of the Hour

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/dyo9gr

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SOURCE Research and Markets

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