Smart Gas Meter Market

Smart Gas Meter Market Expected to Reach $5.99 Billion by 2027

WILMINGTON, DELAWARE, UNITED STATES, May 22, 2024 /EINPresswire.com/ -- The smart gas meter market growth in Europe is expected to grow at the highest rate during the forecast period, owing to the maximum number of smart meter rollouts by various countries to enhance their smart gas meter installations. Also, shifting toward renewables to achieve long-term green energy targets has increased the smart gas meter installations in Europe.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/2406

Allied Market Research, titled, “Smart Gas Meter Market by Type, Component, and End Use: Opportunity Analysis and Industry Forecast, 2020–2027” the global smart gas meter market size was $3.71 billion in 2019, and is projected to reach $5.99 billion by 2027, to register a CAGR of 6.9% during the forecast period. North America is expected to be the leading contributor to the global smart gas meter market, followed by Europe and Asia-Pacific.

Smart gas meters are electronic devices that measure gas flows and the consumption of gas and provide information on how much gas has been consumed and its relevant cost. Smart gas meters are equipped with a shock and leakage detection system, increasing safety to a great extent. The smart gas meter installations help gas companies with some major operational advantages including the elimination of noting monthly readings manually, the availability of real-time data, and continuous monitoring of pipelines. In addition, government regulations in North America and Asia-Pacific are pushing them toward smart grids and helping them attain top spots in terms of market shares.

Leading companies around the globe increasingly becoming aware of the technologies and some of the organizations are investing in integrating new technologies to produce advanced metering devices with improved performance and efficiency. Due to operational benefits, the adoption of advanced metering infrastructure has increased in recent years. These factors are anticipated to create lucrative opportunities for the smart gas meter market during the forecast period.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/2406

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Smart Gas Meter industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐒𝐦𝐚𝐫𝐭 𝐆𝐚𝐬 𝐌𝐞𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

EDMI LIMITED
BADGER METER, INC
APATOR SA
ACLARA TECHNOLOGIES LLC
SENSUS (XYLEM)
ITRON INC
SIEMENS AG
HONEYWELL INTERNATIONAL INC.
SCHNEIDER ELECTRIC
LANDIS+GYR

The major factors that drive the smart gas meter market size are supportive government policies, the development of communication network infrastructure, and high developments in the field of advanced metering infrastructure. In addition, large-scale installations of smart meters by utility companies are focusing on strengthening the distribution of smart gas meters. However, the high installation and maintenance cost of smart gas meters borne by end users restrain the growth of the smart gas meter market. Various grid operators and other gas utility providers are effectively managing the demand for smart gas meters. However, various benefits offered by the smart gas meter such as automatic meter reading and bill generation are further expected to contribute toward the growth of the smart gas meter industry.

By region, the smart gas meter market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The analysis identified that North America contributed the maximum revenue in 2019. The smart gas meter market in Europe is expected to grow at a faster rate as compared to other regions. Factors such as Europe have witnessed the maximum number of rollouts by various countries to enhance their smart gas meter installations. Shifting toward the renewables to achieve long-term green energy targets which have increased smart gas meter installations.

𝐂𝐨𝐯𝐢𝐝 𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

The smart gas meter market size has been significantly impacted by the COVID-19 outbreak. At the start of the outbreak, the main impact faced by many smart meter manufacturers was supply problems, owing to halted production. Due to lockdown measures, non-essential businesses, and the demand for the residential, commercial, and industrial use of smart gas meters have been decreased. Consequently, the manufacturing and supply of smart gas meters are returning to normal levels. Several manufacturers have started witnessing a recovery in sales.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/2406

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

- In 2019, the residential segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 7.5% during the forecast period.
- The hardware segment accounted for more than 50.0% of the smart gas meter market share in 2019.
- China as the major shareholder in the Asia-Pacific smart gas meter market accounted for approximately 55.0% share in 2019.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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