Smart Gas Meter Market Anticipated to Touch USD 3.5 Billion Revenue by 2022 at 7% CAGR
Smart Gas Meter Market Information by Product (Automatic Meter Reading and Advanced Metering Infrastructure), by User (Residential, Commercial, and Industrial), and Region – Global Forecast to 2022
Pune, India – July 25, 2017 /MarketersMedia/ —
Smart Gas Meters Market Analysis:
The Global Smart Gas Meter Market is expected to grow at about 7% CAGR during the forecast period and reach almost USD 3.5 billion by 2022. The smart gas meter market is expected to grow at a rapid pace primarily due to government roll-outs, and implementations of mandates & policies, in developed economies.
Government mandates are another source of increasing demand acting as a market driver. Government policies specifically in North America, Europe and Asia-Pacific region are targeting maximum roll outs of smart gas meters in households to ensure efficient energy usage. The development of smart grids is widely considered to be a key enabler of the transition towards a low carbon economy.
Market Drivers:
The Global Smart Gas Meters Market is estimated to be a lucrative market within the upstream oil & gas industry. It Advantages of smart gas meters such as accurate billing, enhanced customer experience, and improved customer service are expected to be the driving factors for smart gas meters market in developing countries.
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Key Players Profiles:
The major participants of this market are as follows:
• Landis+Gyr (Switzerland)
• Itron Inc. (U.S.)
• Apator Group (Poland)
• Honeywell International, Inc. (U.S.)
• Diehl Metering (U.K.)
• Raychem RPG (India)
• Sensus (U.S.)
• Dandong Dongfa Group Co. Ltd. (China)
• EDMI Limited (Singapore)
• Chongqing Shancheng Gas Equipment Co. Ltd. (China)
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Regional Analysis:
Both North America and Europe are estimated to hold a dominating share within the smart gas meter market. European region is expected to have the fastest growth in next half a decade. However, Asia-Pacific region is also projected to register a considerably high growth rate during the forecast period. Increasing investments on account of government initiatives and roll-outs is expected to be a major driving factor for the growth of the European market.
Intended Audience:
• Smart Gas Meter manufacturing companies
• Smart Gas Meter service providers
• Energy& Power industry Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities
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Source: MarketersMedia
Release ID: 221238
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