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Water And Heat Meters Market Drivers Favourable Government Subsidies Encouraging the Use of Solar Water Meters

HYDERABAD, TELANGANA, INDIA, December 6, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Water And Heat Meters Market is estimated to reach $ 9913.7 million, growing at a CAGR of 4% and $ 821.7 Million with a CAGR of 5.1% respectively from 2021 to 2026. Heat and Water meters are devices which measures thermal energy delivered to a sink by a source and volume of water used by residential, commercial, industrial building units respectively. Smart Water Meter are generally cash registers for the water metre industry which adds value to the overall metre scheme, drive sales and help ensure the efficiency of the decision-making information generated by the metre application. This tend to show a significant growth and is expected to reach $ 8667.81 Million in 2026. For water services around the world, data analytics, smart water technologies and logistics continue to be at the forefront as they solve issues facing the sector, such as growing demand, increasing water conflict, rising energy costs and ageing water systems. Many of water related issues can be easily solved by implementing Advanced Smart Water Metering system thereby contributing to the growth of the market.The growth of residential and commercial sectors due to the urbanization along with the growth of industrial sectors such as water and wastewater, chemical, Electronics and others have driven the market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/19764/water-and-heat-meters-market.html

Key takeaways:

1. Rising energy costs and ageing water systems. Many of water related issues can be easily solved by implementing Advanced Smart Water Metering system thereby contributing to the growth of the market.

2. As worldwide energy consumption and urbanisation continue to increase, fossil fuels are being depleted and energy production costs are rising both economically and environmentally. This highlights the need to not only reduce consumption, but also increase the efficiency of the generation, management and delivery of power. This brings major boost in the adoption of Heat Meters in global market further enhancing its market growth.

3. North America is expected to dominate the global Infrared Sensor Market in the forecast period 2020-2025. The market growth is mainly due to growth of mining industry, different manufacturing industries and large presence of metallic and non-metallic mineral reserves in various regions such as Brazil, U.S, Canada and others.

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Segmental Analysis:

1. Ultrasonic is estimated to reach $2620.7 Million by the forecast period 2021-2026, growing with a CAGR of 6.5%. Ultrasonic flow metre comes with two transducers that activate sound waves.

2. Industrial sector is witnessing a significant growth in a market and estimated to reach $2260.7 Million, growing at a CAGR of 5.1%. The growth is attributed due to the surge of various industrial verticals such as water and waste water, chemicals, Oil and Gas and others.

3. According to Federal Ministry for the Environment, Nature Conservation and Nuclear Safety more than 96 percent of German population is connected to the public sewage system and 10.07 billion cubic meter of waste water were collected and treated in public sewage treatment facilities in 2020. The public sewage system covers 540,723 kilometres of sewers and discharged into 10,000 waste water treatment facilities.

4. Global Water And Heat Meters Market is dominated by North America with a market share 35.2% in 2020. Growing interest towards unconventional reserves accompanied with technological advancements leading to the higher well production rates are driving the growth of oil and gas in U.S.

5. In 2019, McDermott International, Inc announced that it had been awarded a USD 1.5 billion contract by Saudi Aramco for its Marjan Field. In 2019, Canadian Utilities Limited entered into a partnership with Quanta Services, Inc. for the Fort McMurray West 500-kV Transmission Project valued at $1.6 billion, hence creating more opportunities for water And heat meters, them being essential for measuring the thermal energy of source and sink in this vertical.

Competitive Landscape:

The top 5 players in the Water And Heat Meters industry are -

1. Arad

2. BadgerMeter

3. Bmeters

4. Diehl

5. Itron

Click on the following link to buy the Water And Heat Meters Market Report:
https://www.industryarc.com/reports/request-quote?id=19764

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Water Meter Market
https://www.industryarc.com/Report/16408/water-meter-market.html

B. Heat Flow Meters Market
https://www.industryarc.com/Report/15963/heat-flow-meters-market.html

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IndustryARC
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