Lucintel Forecasts Global Smart Gas Meter Market to Reach $4.8 billion by 2030.

Smart Gas Meter Market

Posted on 2023-10-06 by Lucintel in Marketing // 0 Comments

CITY, Country, 2023-Oct-06 — /EPR Network/ —

According to a market report by Lucintel, the future of the global smart gas meter market looks promising with opportunities in the residential, commercial, and industrial markets. The global smart gas meter market is expected to reach an estimated $4.8 billion by 2030 with a CAGR of 6.3% from 2024 to 2030. The major drivers for this market are growing adoption of digital meters in gas distribution networks, increasing global investments in smart grid technologies, and rising proliferation of smart city projects in emerging countries.

A more than 150 – page report is developed to understand Trends, opportunity and forecast in smart gas meter market to 2030 by technology (automated meter reasing (AMR) and advanced metering infrastructure (AMI)), component (hardware and software), type (smart ultrasonic gas meter and smart diaphragm gas meter), end use industry (residential, commercial, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World).

In this market, hardware and software are the major segments of smart gas meter market by component.

Lucintel forecasts that hardware will remain the larger segment over the forecast period due to rising demand for precise smart gas meter operations, as well as growing focus of manufacturers on designing hardware components with a level of system integration and simplified design to keep the gas meters more compact and cost-efficient.

Within this market, residential will remain the fastest growing segment over the forecast period because of rising inclination towards gas usage for domestic needs as opposed to fossil fuels, supported by government incentives and subsidies, and the widespread installation of gas meters in households to curtail energy wastage.

Europe will remain the largest region over the forecast period due to government backing for the coordinated implementation of energy meters on pre-existing infrastructure, coupled with the rapid population growth and rising demand for greenhouse gas emission reduction from households and businesses within the region.

Aclara Technologies, Aichi Tokei Denki, Apator, Honeywell International, Itron, Landis+Gyr, Schneider Electric, Siemens, Wasion Holdings, and Chongqing Shancheng Gas Equipment are the major suppliers in the smart gas meter market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

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