Gas Meter Market Size is projected to reach USD 11.2 billion by 2030, growing at a CAGR of 6.8%: Straits Research

New York, United States, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The amount of gas produced or consumed is measured and recorded using gas meters and a flow meter. The force of the flowing gas in the pipe drives a gas meter. The pointer on the dial with the next higher value advances one number for each revolution of the dial with the lower value. To monitor gas usage, these meters are crucial for guaranteeing sufficient gas pressure from the primary supply of natural or liquefied petroleum gas. Gas meters are frequently employed in various residential, commercial, and industrial settings to measure the volumetric flow rate.

Rapid industrialization has increased the use of natural gas in many rising economies. Gas wastage during transmission and distribution can be decreased with gas meters. Additionally, it enables utility companies to track the behavior of gas meters and estimate demand using data from gas meters. Further, robust government assistance from around the world contributes to the market expansion of different gas meters.

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Operational Safety and Increase in Efficiency of Gas Usage to Drive the Global Gas Meter Market

The modern gas meters have operational advantages such as continuous monitoring of pipelines, automatic monthly usage reading, availability of real-time data, and cost-saving brought by the one-time investment of the smart meters, which are expected to drive the growth of this market. It also increases the efficiency of the gas usage by the companies, and customers can also control the monthly bills and receive detailed information regarding their gas usage. The precise reading provided by the gas meter about various consumptions is expected to create awareness among customers regarding energy waste, which will help in cost savings and avoid energy wastage. These factors are expected to drive the gas meter market during the forecast period. 

National Plans for the Modern Gas Networks and Smart Grid Facilities to Provide Opportunities for the Global Gas Meter Market

Emerging national plans in various countries have set goals to modernize the gas networks and smart grid facilities. These are the key technologies to update the gas and energy network by providing utilities to the customers and managing the gas usage efficiently.

The U.S. National Institute of Standards and Technology has proposed a model that can be considered one of the most popular. This model can reduce outages and shorten the response time during natural hazards. According to the U.S. Department of Energy, this model can save consumers nearly 20 billion USD on utility by 2025.

Report Scope

Report Metric	Details
Market Size by 2030	USD 11.2 billion
Market Size in 2021	USD 6.2 billion
CAGR	6.8% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product Type, End-Use Industry
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	General Electric, Itron, Elster, Landis+Gyr, ABB, Aclara, Badger Meter
Key Market Opportunities	National Plans for the Modern Gas Networks and Smart Grid Facilities
Key Market Drivers	Operational Safety and Increase in Efficiency of Gas Usage

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Regional Insights

Region-wise, the global gas meter market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe was the highest revenue contributor and is estimated to grow at a CAGR of 6.1%. Europe is analyzed across Germany, France, Italy, Spain, the U.K., and the rest of Europe. Increased concern toward energy conservation and government regulation regarding energy management is expected to drive market growth. Moreover, the strong presence of industry players such as Landis+Gyr, KROHNE, and ABB is expected to influence the domestic market demand. The rise in digitization and the growing prominence of energy-saving are expected to drive the market growth. Deployment of gas meters will provide timely data on gas consumption and leakage, which will further help utility providers to forecast market demand. 

Asia-Pacific is the fastest-growing region. Asia-Pacific consists of China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. China primarily dominates the market for gas meters due to significant demand from the industrial sector. Moreover, hotels, school canteens, institutions, and commercial outlets are suitable for smart gas meters for centralized management. Further, the initiative from China's national development and reform commission to build a longstanding mechanism to guarantee a stable gas supply will positively impact the market growth. However, the significant presence of coal and oil energy in countries such as China, India, and Indonesia influenced natural gas consumption. For instance, the natural gas market in Asia-Pacific accounts for only 10% of the global market share, whereas the Asia-Pacific coal consumption accounts for 44% of the worldwide market share. Such factors are expected to create significant challenges for the market players.

North America is the second largest region. It is estimated to grow at a CAGR of 7.1%. The North American gas meter market comprises the U.S., Canada, and Mexico. Implementing intelligent meters in commercial and large residential areas, especially in the U.S. and Canada, is expected to boost market growth. The government's mandatory installation of smart meters in households and commercial spaces is also anticipated to increase the gas meter market growth in the North American region. Natural gas is utilized in around 58% of residential sectors in the U.S. The emergence of advanced metering infrastructure (AMI), an integrated system of smart meters, is expected to create new market opportunities. 

Key Highlights

• The global gas meter market size is projected to reach USD 11.2 billion by 2030, growing at a CAGR of 6.8% during the forecast period (2022-2030).
• Based on product type, the global gas meter market is divided into the traditional gas meter and smart gas meters. The smart gas meters segment dominated the market and is estimated to grow at a CAGR of 7.2% during the forecast period. Growth in the emphasis of smart meter devices in commercial and large industrial areas is one of the significant factors influencing market growth. Furthermore, strong support from governments across the globe further drives the market growth of various gas meters. However, the emergence of smart meters and remote monitoring and inspection of gas consumption through smart meters are anticipated to create new market opportunities.
• By end-user, the global gas meter market is classified into residential, commercial, and industrial. The residential segment dominated the market and is estimated to grow at a CAGR of 6.7% during the forecast period. In large residential areas, utility providers install gas meters to measure the monthly gas consumption. It is installed between a residential area's gas line and distribution point. Moreover, with smart meters and remote monitoring, utility providers can easily track the monthly natural gas consumption. However, the automatic billing through smart residential meters made revenue collection more accessible than before (with conventional gas meters). Growth in disposable income and lifestyle changes will increase the end-users of smart energy in residential areas.

Competitors in Gas Meter Market

• General Electric
• Itron
• Elster
• Landis+Gyr
• ABB
• Aclara
• Badger Meter 

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Segmentation of Global Gas Meter Market

By Product Type

• Traditional Gas Meter
• Smart Gas meter

By End-Use Industry

• Residential
• Industrial
• Commercial

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA

TABLE OF CONTENT

1. EXECUTIVE SUMMARY
2. RESEARCH SCOPE & SEGMENTATION
   1. RESEARCH OBJECTIVES
   2. MARKET DEFINITION
   3. LIMITATIONS & ASSUMPTIONS
   4. MARKET SCOPE & SEGMENTATION
   5. CURRENCY & PRICING CONSIDERED
3. MARKET OPPORTUNITY ASSESSMENT
   1. EMERGING REGIONS / COUNTRIES
   2. EMERGING COMPANIES
   3. EMERGING APPLICATIONS / END USE
   4. INVESTMENT LANDSCAPE
   5. NEW BUSINESS MODELS / REVENUE STREAMS
   6. TAM
4. MARKET TRENDS
   1. DRIVERS
   2. MARKET WARNING FACTORS
   3. LATEST MACRO ECONOMIC INDICATORS
   4. GEOPOLITICAL IMPACT
   5. HUMAN FACTORS
   6. TECHNOLOGY FACTORS
5. MARKET ASSESSMENT
   1. PORTERS FIVE FORCES ANALYSIS
   2. VALUE CHAIN ANALYSIS
   3. RAW MATERIAL ANALYSIS
   4. SALES AND DISTRIBUTION CHANNEL ANALYSIS
   5. TRADE ANALYSIS
   6. AVERAGE PRICING ANALYSIS
   7. CASE STUDY ANALYSIS
   8. PATENT ANALYSIS
   9. M & A AGREEMENTS & COLLABRATION ANALYSIS
   10. EXPORT IMPORT ANALYSIS
   11. COST STRUCTURE ANALYSIS
6. ESG TRENDS
7. GLOBAL GAS METER MARKET SIZE ANALYSIS
   1. GLOBAL GAS METER MARKET INTRODUCTION
   2. BY PRODUCT TYPE
      1. INTRODUCTION
         1. PRODUCT TYPE BY VALUE
      2. TRADITIONAL GAS METER
         1. BY VALUE
      3. SMART GAS METER
         1. BY VALUE
   3. BY END-USE INDUSTRY
      1. INTRODUCTION
         1. END-USE INDUSTRY BY VALUE
      2. RESIDENTIAL
         1. BY VALUE
      3. INDUSTRIAL
         1. BY VALUE
      4. COMMERCIAL
         1. BY VALUE
8. NORTH AMERICA MARKET ANALYSIS
   1. INTRODUCTION
   2. BY PRODUCT TYPE
      1. INTRODUCTION
         1. PRODUCT TYPE BY VALUE
      2. TRADITIONAL GAS METER
         1. BY VALUE
      3. SMART GAS METER
         1. BY VALUE
   3. BY END-USE INDUSTRY
      1. INTRODUCTION
         1. END-USE INDUSTRY BY VALUE
      2. RESIDENTIAL
         1. BY VALUE
      3. INDUSTRIAL
         1. BY VALUE
      4. COMMERCIAL
         1. BY VALUE
   4. U.S.
      1. BY PRODUCT TYPE
         1. INTRODUCTION
            1. PRODUCT TYPE BY VALUE
         2. TRADITIONAL GAS METER
            1. BY VALUE
         3. SMART GAS METER
            1. BY VALUE
      2. BY END-USE INDUSTRY
         1. INTRODUCTION
            1. END-USE INDUSTRY BY VALUE
         2. RESIDENTIAL
            1. BY VALUE
         3. INDUSTRIAL
            1. BY VALUE
         4. COMMERCIAL
            1. BY VALUE
   5. CANADA
9. EUROPE MARKET ANALYSIS
   1. INTRODUCTION
   2. BY PRODUCT TYPE
      1. INTRODUCTION
         1. PRODUCT TYPE BY VALUE
      2. TRADITIONAL GAS METER
         1. BY VALUE
      3. SMART GAS METER
         1. BY VALUE
   3. BY END-USE INDUSTRY
      1. INTRODUCTION
         1. END-USE INDUSTRY BY VALUE
      2. RESIDENTIAL
         1. BY VALUE
      3. INDUSTRIAL
         1. BY VALUE
      4. COMMERCIAL
         1. BY VALUE
   4. U.K.
      1. BY PRODUCT TYPE
         1. INTRODUCTION
            1. PRODUCT TYPE BY VALUE
         2. TRADITIONAL GAS METER
            1. BY VALUE
         3. SMART GAS METER
            1. BY VALUE
      2. BY END-USE INDUSTRY
         1. INTRODUCTION
            1. END-USE INDUSTRY BY VALUE
         2. RESIDENTIAL
            1. BY VALUE
         3. INDUSTRIAL
            1. BY VALUE
         4. COMMERCIAL
            1. BY VALUE
   5. GERMANY
   6. FRANCE
   7. SPAIN
   8. ITALY
   9. RUSSIA
   10. NORDIC
   11. BENELUX
   12. REST OF EUROPE
10. APAC MARKET ANALYSIS
    1. INTRODUCTION
    2. BY PRODUCT TYPE
       1. INTRODUCTION
          1. PRODUCT TYPE BY VALUE
       2. TRADITIONAL GAS METER
          1. BY VALUE
       3. SMART GAS METER
          1. BY VALUE
    3. BY END-USE INDUSTRY
       1. INTRODUCTION
          1. END-USE INDUSTRY BY VALUE
       2. RESIDENTIAL
          1. BY VALUE
       3. INDUSTRIAL
          1. BY VALUE
       4. COMMERCIAL
          1. BY VALUE
    4. CHINA
       1. BY PRODUCT TYPE
          1. INTRODUCTION
             1. PRODUCT TYPE BY VALUE
          2. TRADITIONAL GAS METER
             1. BY VALUE
          3. SMART GAS METER
             1. BY VALUE
       2. BY END-USE INDUSTRY
          1. INTRODUCTION
             1. END-USE INDUSTRY BY VALUE
          2. RESIDENTIAL
             1. BY VALUE
          3. INDUSTRIAL
             1. BY VALUE
          4. COMMERCIAL
             1. BY VALUE
    5. KOREA
    6. JAPAN
    7. INDIA
    8. AUSTRALIA
    9. TAIWAN
    10. SOUTH EAST ASIA
    11. REST OF ASIA-PACIFIC
11. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. INTRODUCTION
    2. BY PRODUCT TYPE
       1. INTRODUCTION
          1. PRODUCT TYPE BY VALUE
       2. TRADITIONAL GAS METER
          1. BY VALUE
       3. SMART GAS METER
          1. BY VALUE
    3. BY END-USE INDUSTRY
       1. INTRODUCTION
          1. END-USE INDUSTRY BY VALUE
       2. RESIDENTIAL
          1. BY VALUE
       3. INDUSTRIAL
          1. BY VALUE
       4. COMMERCIAL
          1. BY VALUE
    4. UAE
       1. BY PRODUCT TYPE
          1. INTRODUCTION
             1. PRODUCT TYPE BY VALUE
          2. TRADITIONAL GAS METER
             1. BY VALUE
          3. SMART GAS METER
             1. BY VALUE
       2. BY END-USE INDUSTRY
          1. INTRODUCTION
             1. END-USE INDUSTRY BY VALUE
          2. RESIDENTIAL
             1. BY VALUE
          3. INDUSTRIAL
             1. BY VALUE
          4. COMMERCIAL
             1. BY VALUE
    5. TURKEY
    6. SAUDI ARABIA
    7. SOUTH AFRICA
    8. EGYPT
    9. NIGERIA
    10. REST OF MEA
12. LATAM MARKET ANALYSIS
    1. INTRODUCTION
    2. BY PRODUCT TYPE
       1. INTRODUCTION
          1. PRODUCT TYPE BY VALUE
       2. TRADITIONAL GAS METER
          1. BY VALUE
       3. SMART GAS METER
          1. BY VALUE
    3. BY END-USE INDUSTRY
       1. INTRODUCTION
          1. END-USE INDUSTRY BY VALUE
       2. RESIDENTIAL
          1. BY VALUE
       3. INDUSTRIAL
          1. BY VALUE
       4. COMMERCIAL
          1. BY VALUE
    4. BRAZIL
       1. BY PRODUCT TYPE
          1. INTRODUCTION
             1. PRODUCT TYPE BY VALUE
          2. TRADITIONAL GAS METER
             1. BY VALUE
          3. SMART GAS METER
             1. BY VALUE
       2. BY END-USE INDUSTRY
          1. INTRODUCTION
             1. END-USE INDUSTRY BY VALUE
          2. RESIDENTIAL
             1. BY VALUE
          3. INDUSTRIAL
             1. BY VALUE
          4. COMMERCIAL
             1. BY VALUE
    5. MEXICO
    6. ARGENTINA
    7. CHILE
    8. COLOMBIA
    9. REST OF LATAM
13. COMPETITIVE ASSESSMENT
    1. ADOPTION MATRIX
    2. GAS METER MARKET SHARE BY MANUFACTURERS
    3. GAS METER MARKET RANKING BY REVENUE FOR MANUFACTURERS
    4. AVERAGE PRICE BY MANUFACTURERS
    5. VENDOR FOOTPRINT ANALYSIS
14. MARKET PLAYERS ASSESSMENT
    1. GENERAL ELECTRIC
       1. OVERVIEW
       2. BUSINESS INFORMATION
       3. REVENUE
       4. ASP
       5. GROSS MARGIN
       6. SWOT ANALYSIS
       7. RECENT DEVELOPMMENTS
    2. ITRON
    3. ELSTER
    4. LANDIS+GYR
    5. ABB
    6. ACLARA
    7. BADGER METER
15. RESEARCH METHODOLOGY
    1. RESEARCH DATA
       1. SECONDARY DATA
          1. MAJOR SECONDARY SOURCES
          2. KEY DATA FROM SECONDARY SOURCES
       2. PRIMARY DATA
          1. KEY DATA FROM PRIMARY SOURCES
          2. BREAKDOWN OF PRIMARIES
       3. SECONDARY AND PRIMARY RESEARCH
          1. KEY INDUSTRY INSIGHTS
    2. MARKET SIZE ESTIMATION
       1. BOTTOM-UP APPROACH
       2. TOP-DOWN APPROACH
       3. MARKET PROJECTION
    3. RESEARCH ASSUMPTIONS
       1. ASSUMPTIONS
    4. LIMITATIONS
    5. RISK ASSESSMENT
16. APPENDIX
    1. DISCUSSION GUIDE
    2. CUSTOMIZATION OPTIONS
    3. RELATED REPORTS
17. DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/gas-meter-market/toc

Recent Development

• May 2022 - Itron, Inc., which is innovating how utilities and cities manage energy and water, is expanding its long-term collaboration with Microsoft to accelerate cloud adoption and the next generation of consumer and grid edge solutions for the utility and smart cities industries. The partnership uniquely combines Itron's leading energy management solutions and Microsoft's leading cloud solutions to transform how end-users view and manage their energy and how utilities meet the demands of a rapidly changing industry. Itron is working with Microsoft to develop solutions that deliver unprecedented insights and benefits for utilities, communities, and enterprises to reach their goals, including grid resilience, consumer engagement, operational efficiency, and decarbonization.

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