Gas Meter Market to Surpass Valuation of USD 5.14 Billion by 2031 | SkyQuest Technology

The gas meter market is recording phenomenal growth due to increasing consumption of natural gas and an intense promotional drive for installing smart meters.

Westford, USA, Nov. 18, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the global Gas Meter Market size will reach a value of USD 5.14 Billion by 2031, with a CAGR of 4.70% during the forecast period (2024-2031). A major contributor to the growth of natural gas demand curve across the globe is the need for accurate monitoring and measurement of gas as the world’s population increases and people tend to shift to cleaner sources of energy such as natural gas. With more smart gas meters being adopted, consumers and gas companies have access to timely information at lower costs and greater safety of operations. The introduction of smart meters has led to more sophisticated and better gas metering systems, which assist in optimizing energy efficiency and improving the operation of the grid.

Request your free sample PDF of the report today: https://www.skyquestt.com/sample-request/gas-meter-market

Browse in-depth TOC on the ” Gas Meter Market”

Pages – 156

Tables – 62

Figures – 70

Gas Meter Market Overview:

Report Coverage Details
Market Revenue in 2023 USD 3.56 Billion
Estimated Value by 2031 USD 5.14 Billion
Growth Rate Poised to grow at a CAGR of 4.70%
Forecast Period 2024–2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, and End User
Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights Combination of cloud and IoT technologies in gas meter
Key Market Opportunities Increasing energy efficiency and conservation awareness
Key Market Drivers Increasing adoption of smart gas meters

Gas Meter Market Segmental Analysis

Global Gas Meter Market is segmented by Type, Application, and Region.

Based on Type, the market is segmented into Basic Gas Meter, and Smart Gas Meter (Smart Ultrasonic Gas Meter, Smart Diaphragm Gas Meter).

Based on Application, the market is segmented into Residential, Commercial, and Industrial.

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa. 

Basic Gas Meter to Hold Significant Growth due to its Reliability in Measuring Gas Consumption Accurately

Basic gas meters dominate the global gas meter market due to their affordability, simple operation, and reliability in measuring gas consumption accurately. These are very much suited for mass personal and small-scale commercial applications particularly in areas involving a lot of costs. Their simple construction minimizes the costs related to the upkeep of the devices encouraging mass adoption and aligning with the global gas meter market trends favoring cost-effective and durable solutions.

For a tailored report, contact us to request a free customization: https://www.skyquestt.com/speak-with-analyst/gas-meter-market

Residential to Lead Market due to Rising Demand for Natural Gas in Households for Cooking

The residential application dominates the global gas meter market due to increasing urbanization and rising demand for natural gas in households for cooking and heating. The increasing demand for the gallons and cubic meters of gas consumed necessitates the use of reliable meter readings. Hence, utility providers focus on the residential installations to enable the right billing, widening the market and collectively support the global gas meter market forecast for sustained growth in residential gas meter adoption.

North America to Dominate Market due to Widespread Adoption of Smart Metering Technologies

North America dominates the global gas meter market due to its advanced infrastructure, high natural gas consumption, and widespread adoption of smart metering technologies. Demand is also propelled by regulatory requirements for efficient energy use and large-scale investments in utility network modernization are key drivers of the global gas meter market growth. This Innovation and strategic sourcing renders North America the most preferred market in the region.

Gas Meter Market Insight

Drivers:

  1. Rising Urbanization and Industrialization
  2. Demand for Real-Time Consumption Data
  3. Government Policies Promoting Energy Efficiency

Restraints:

  1. Smart Meters Face Vulnerabilities
  2. Deterring Adoption in Regions with Inadequate Security
  3. Insufficient Expertise for Installing and Maintaining Meter Systems

Prominent Players in Gas Meter Market

  • Siemens AG (Germany) 
  • Badger Meter, Inc. (US) 
  • KROHNE Group (Germany) 
  • Schneider Electric (France) 
  • Apator SA (Apator Group) (Poland) 
  • Endress+Hauser (Switzerland) 
  • Diehl Metering GmbH (Diehl Group) (Germany) 
  • ABB (Switzerland) 
  • Aichi Tokei Denki Co., Ltd. (Japan) 
  • Chongqing Shancheng Gas Equipment Co., Ltd. (China) 
  • Zenner International GmbH & Co. KG (Germany) 
  • Flonidan A/S (Denmark) 
  • EMH metering GmbH & Co. KG (Germany) 
  • Badger Meter, Inc. (US) 
  • Wasion Group Holdings Limited (Star Treasure Investments Holdings Limited) (China) 
  • Meter Italia S.p.A. (Italy) 
  • Holley Technology Ltd. (Holley Group) (China) 
  • Pietro Fiorentini S.p.A. (Italy) 
  • Raychem RPG Pvt. Ltd. (India)

Purchase now to gain valuable insights and stay informed: https://www.skyquestt.com/buy-now/gas-meter-market

Key Questions Answered in Global Gas Meter Market Report

  • What is the projected market size of the global gas meter industry by 2031?
  • Why do basic gas meters dominate the market, and which applications are they ideal for?
  • What factors contribute to North America’s dominance in the market?

This report provides the following insights:

Analysis of key drivers (Transition from coal to natural gas, increasing residential users, expanding gas pipeline networks), restraints (Lack of standardization in smart meter, slow technological adoption), opportunities (Incentives and funding for smart grid projects, coupling gas meters with renewable systems).

  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the gas meter market.
  • Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the gas meter market.
  • Market Development: Comprehensive information on lucrative emerging regions
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
  • Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

To read the full report, please visit: https://www.skyquestt.com/report/gas-meter-market

Related Reports

Smart Meters Market Set to Grow at 10.1% CAGR Through 2031

Europe Heat Meter Market Set to Grow at 5% CAGR Through 2031

Water Meter Market Set to Grow at 4.1% CAGR Through 2031

Thermal Mass Flow Meter Set to Grow at 5.5% CAGR Through 2031

Smart Electricity Meters Market Set to Grow at 6.30% CAGR Through 2031

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia-Pacific.

Contact:

Mr. Jagraj Singh

SkyQuest Technology

1 Apache Way,

Westford,

Massachusetts 01886

USA (+1) 351-333-4748

Email: sales@skyquestt.com

Visit Our Website: https://www.skyquestt.com/

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy