Gas meters market

Slide Note

A gas meter is driven by the force of the moving gas in the pipe. Each time the dial with the lower value complete one revolution, the pointer on the next higher value dial moves ahead one digit. These meters are essential for ensuring adequate gas pressure from the main supply of natural or liquefied petroleum gas to keep a track on the usage of gas. Gas mete

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Introduction Gas meters are essential for ensuring adequate gas supply of natural or liquefied petroleum gas to keep a track on the usage of gas. Gas meters are widely used in industrial, commercial, and large residential areas to maintain total usage of petroleum gas supplied by utility companies. Moreover, gas billing systems based on automated meter reading in smart meter makes the billing procedure easier than that of conventional gas meters. Growth in adoption of smart meters in commercial and large residential areas is expected to drive the market growth during the forecast timeframe. The mandatory installation of smart meters in households and commercial areas is anticipated to influence the gas meter market growth. In addition, increase in demand for efficient energy technologies such as implementation of IOT (Internet of Things) will further drive the demand for various smart gas meters. Report Overview

On the basis of product type, smart gas meter emerged as the market leader in 2020. This is attributed to rise in demand for various gas meters in residential and commercial areas. On the basis of end user, the residential end-user industry segment accounted for considerable market share, owing to increase in residential power consumption. Due to economic developments and favorable government policies, the smart meters market witnessed a large demand in the residential sector; therefore, positively impacting the market growth. Region wise, Asia-Pacific accounted for the highest revenue share in 2020. This is attributed to emerging application of smart gas meters in China, India, and Japan. Furthermore, favorable government policies in these countries regarding subsidies and rebates, and mandatory installation of smart meters positively impact the market growth. Report Overview

Key findings of the study The smart gas meters segment was the highest contributor to the market, and is estimated to grow at a CAGR of 7.0% during the forecast period. The residential segment was the highest contributor to the market and is estimated to grow at a CAGR of 6.5% during the forecast period The industrial segments is expected to witness significant CAGRs of 7.2% and respectively, during the forecast period Report Overview