The Global Smart Gas Meter Market size is expected to reach $2. 8 billion by 2027, rising at a market growth of 4. 7% CAGR during the forecast period. Smart gas refers to an emerging technology that is capable of automatically measuring the primary parameters like volume, pressure, and temperature of the gas that flows in the pipeline.
New York, May 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart Gas Meter Market By Type, By Technology, By Component, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06073608/?utm_source=GNW
In order to provide gas access to each person, the implementation of smart gas meters in commercial, industrial, and residential spaces is the ideal and upcoming step.
Due to the policies and regulations of governments around the world, the smart gas meter market has been successful in contributing to the global GDP. The global GDP is also supported by the partnership of gas exploring companies with smart gas meter makers. The smart gas meter market would grow at a rapid pace over the forthcoming years due to the fact that gas meters show no discrepancy. In addition to it, the global market would witness various growth avenues due to the spike in the number of safety concerns and regulations.
Increasing consumption of energy in order to streamline two-way communication between the meter and central systems utilized by the utilities is acting as the catalyst for the growth of the global smart meter market. The development of the global smart meter market would further be boosted by the growing number of supportive government initiatives. In addition, the market would witness new growth avenues due to the rising economic growth among the emerging countries. Though, the smart gas meter market is negatively affected due to the outbreak of the COVID-19 pandemic. The stringent lockdown across the world has created disruption in the supply chain and problems in the export & import of raw materials utilized in the development of smart meters.
Based on Type, the market is segmented into Smart Diaphragm Gas Meter and Smart Ultrasonic Gas Meter. The Smart Diaphragm Gas Meter market dominated the Global Smart Gas Meter Market by Type 2020, growing at a CAGR of 4.4 % during the forecast period. The Smart Ultrasonic Gas Meter market is experiencing a CAGR of 5.1% during (2021 - 2027).
Based on Technology, the market is segmented into Automated Meter Reading (AMR) and Advanced Metering Infrastructure (AMI). The automated meter reading (AMR) segment would emerge as the dominating segment in the smart gas meter market during the forecast period. Factors such as increasing demand for affordable smart gas meters and the requirement for automatically collecting meter readings without manual work are boosting the overall smart gas meter market.
Based on Component, the market is segmented into Hardware and Software. On the basis of components, the hardware segment obtained the highest share of the smart gas meter market in 2020. The market is boosted by the massive demand for accurate smart gas meter operations. Moreover, makers are aiming for the development of hardware components with superior system integration and streamlined design in order to bring compactness and cost-efficiency to the smart gas meters.
End User Outlook
Based on End User, the market is segmented into Residential, Commercial and Industrial. The Residential market dominated the Global Smart Gas Meter Market by End User 2020, growing at a CAGR of 4.2 % during the forecast period. The Commercial market is estimated to grow at a CAGR of 5.2% during (2021 - 2027).
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific market dominated the Global Smart Gas Meter Market by Region 2020. The Europe market is experiencing a CAGR of 4.6% during (2021 - 2027). Additionally, The North America market is poised to grow at a CAGR of 4.5% during (2021 - 2027).
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Honeywell International, Inc. is the major forerunner in the Smart Gas Meter Market. Companies such as Landis+Gyr Group AG, Xylem, Inc., Itron, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Fujitsu Limited, Xylem, Inc. (Sensus), Landis+Gyr Group AG, Itron, Inc., Apator S.A., Diehl Stiftung & Co. KG, Wasion Group (Star Treasure Investments Holdings Limited), Arad Group, and Hubbell, Inc.
Recent strategies deployed in Smart Gas Meter Market
Partnerships, Collaborations, and Agreements:
Mar-2021: Landis+Gyr came into collaboration with Smart Choice Metering. Under this collaboration, Smart Choice Metering selected Landis+Gyr for the provision of an additional 120,000 SMETS2 smart meters. Through this collaboration, a majority of the 120,000 SMETS2 smart meters would be installed for residential clients.
Jan-2021: Itron came into agreement with Pacific Northern Gas to modernize its natural gas distribution system. The utility would implement Itron’s automated meter reading solution to enhance operational efficiency and customer satisfaction. The project would assist in enhancing the efficiency, safety, and reliability of natural gas delivery to its 22,000 natural gas users. This solution will simplify Pacific Northern Gas’ meter reading and enhance operational efficiency with the capability to read usage data remotely. The solution will also consist of 500G Encoder Receiver Transmitters.
Jan-2021: Landis+Gyr entered into a contract with EDF, a French multinational electric utility company. Under this contract, Landis+Gyr would offer a further 650,000 SMETS2 gas and electricity meters by June 2025, along with the initial order of 500,000 meters.
Oct-2020: Landis+Gyr extended its partnership with Calvin Capital, a wholly-owned subsidiary of Calisen. In this expansion, Landis+Gyr will deliver a flexible volume of SMETS2 smart meters to complement the roll-out obligations of independent UK energy suppliers that utilize Calvin Capital as their Meter Asset Provider. In an advanced new mechanism, between 400,000 and 2 million meters would be supplied, with the option for a gradual boost of volumes.
Aug-2020: Apator Metrix SA, a subsidiary of Apator and George Wilson Industries Ltd, manufacturer of gas instruments came into a contract with Flonidan A/S (Denmark). This contract aims to provide gas meters to the UK market for 2020–2025.
May-2020: Itron joined hands with EDMI Limited, a global smart metering solutions leader. This collaboration aims to develop and introduce a SMETS2-compliant gas meter for the United Kingdom. This meter uses Itron’s Intelis ultrasonic platform and EDMI’s SMETS2 compliant firmware and would address the increasing demand in this region by launching a complete solution to securely and reliably operate natural gas delivery.
May-2020: Landis+Gyr came into a contract with Indianapolis Power & Light Company (IPL). This contract expanded the utility’s smart grid program and initiates the implementation of the latest energy management technologies in the nearby future. This contract consists of the addition of 350,000 advanced meters & upgraded network infrastructure to IPL’s prevailing AMI program. Landis+Gyr would continue to deliver network & meter management services with software hosting. IPL would also use Landis+Gyr’s advanced load management system, meter data management system, and operating software.
Jan-2020: Honeywell collaborated with Verizon, a telecommunications conglomerate. This collaboration aims to assist utilities to accelerate and streamline the implementation of new communication-enabled, controls and intelligent sensors for the smart electric grid. By combining Verizon’s Managed Connectivity LTE solutions into Honeywell’s next-generation smart meters and other gas, electric, and water solutions, both the companies would lead energy savings by faster deploying smart electric grid technologies.
Jan-2020: Itron extended its collaboration with CPS Energy, the municipal electric utility serving the city of San Antonio, Texas. This expansion aims to enhance energy-water literacy and introduce the latest online resource focused on offering interactive educational resources and materials to inform communities and support the next-generation talent pipeline.
Product Launches and Product Expansions:
Oct-2019: Sensus launched a game-changing Sonix IQ smart gas meter. This gas meter is compact and residential which provides accurate ultrasonic measurement, combined communications, and advanced smart sensing functions like continuous health checks and theft detection.
Scope of the Study
Market Segments covered in the Report:
• Smart Diaphragm Gas Meter
• Smart Ultrasonic Gas Meter
• Automated Meter Reading (AMR)
• Advanced Metering Infrastructure (AMI)
By End User
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Honeywell International, Inc.
• Fujitsu Limited
• Xylem, Inc. (Sensus)
• Landis+Gyr Group AG
• Itron, Inc.
• Apator S.A.
• Diehl Stiftung & Co. KG
• Wasion Group (Star Treasure Investments Holdings Limited)
• Arad Group
• Hubbell, Inc.
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