Global Smart Gas Meters Market to Reach $8 Billion by 2026
SAN FRANCISCO, March 22, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Smart Gas Meters - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What's New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to our digital archives and MarketGlass Research Platform
- Complimentary updates for one year
Edition: 20; Released: February 2022
Executive Engagements: 50258
Companies: 75 - Players covered include 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. and Others.
Coverage: All major geographies and key segments
Segments: Technology (Automatic Meter Reading (AMR), Advanced Meter Infrastructure (AMI)); End-Use (Residential, Commercial, Industrial)
Geographies: World; USA; Canada; Japan; China; Europe; France; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
ABSTRACT-
Global Smart Gas Meters Market to Reach $8 Billion by 2026
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.
Amid the COVID-19 crisis, the global market for Smart Gas Meters estimated at US$6.2 Billion in the year 2022, is projected to reach a revised size of US$8 Billion by 2026, growing at a CAGR of 5.7% over the analysis period. 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 $1.2 Billion in 2022, While China is Forecast to Reach $2.8 Billion by 2026
The Smart Gas Meters market in the U.S. is estimated at US$1.2 Billion in the year 2022. 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.
By End-Use, Residential Segment to Reach $5.5 Billion by 2026
The global smart gas meters market is led by the residential segment, with driven by the rising number of households deploying smart gas meters. The launch of national-level rollout initiatives and initiatives to replace traditional meters with smart alternatives in the residential sector is expected to favor market growth. The Residential (End-Use) segment is estimated at US$4.2 Billion in 2022, and is projected to reach US$5.5 Billion by 2026 reflecting a compounded annual growth rate of 6.1% over the analysis period. China constitutes the largest regional market for Residential segment, accounting for 33.2% of the global sales. China is poised to register the fastest compounded annual growth rate of 7.2% to reach US$2.1 Billion by the close of the analysis period. More
MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android
About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp
Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./
Follow Us on Twitter
https://twitter.com/marketbytes
Journalists & Media
[email protected]
SOURCE Global Industry Analysts, Inc.
![](https://rt.prnewswire.com/rt.gif?NewsItemId=LA96533&Transmission_Id=202203221010PR_NEWS_USPR_____LA96533&DateId=20220322)
Share this article