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Gas Meter Market

Global Gas Meter Market Size, Share, Trends, Forecast: By Type: Basic, Smart; By End Use: Residential, Commercial, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Gas Meter Market Outlook

The global gas meter market size reached approximately USD 3.86 billion in 2023. The market is projected to grow at a CAGR of 5.20% between 2024 and 2032, reaching a value of around USD 6.09 billion by 2032.  The market is being driven by growing government initiatives to promote the installation of gas meters and rapid advancements in technology.

 

Key Takeaways

  • There is a global shift towards smart gas meters, driven by their ability to provide real-time data.
  • Government regulations and policies promoting energy efficiency and emission reductions are boosting the adoption of advanced gas metering solutions.
  • The compatibility of gas meters with renewable energy sources, like biogas and hydrogen, is becoming more prominent.

 

The gas meter is a device used to analyse and record the amount of gas consumed or produced. They ensure adequate gas pressure from the main supply, further maintaining a record of gas usage and providing accurate bills. Gas meters can handle various types of gases, such as natural gas, propane, and butane, and are integral to ensuring the efficient and safe delivery of gas to end-users.

 

The global gas meter market is being aided by increased adoption of gas meters in the commercial as well as residential sectors supported by government initiatives. Governments across the globe are taking several initiatives to encourage the use of gas meters, which is expected to boost the market growth over the forecast period. The major players in the sector are also readily collaborating with government agencies to develop advanced systems. Moreover, rapid urbanisation and industrialisation, coupled with the development of smart gas meters with real-time information on energy consumption are expected to propel the market growth globally.

 

Global Gas Meter Market

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Key Trends and Developments

Safety and compliance; installation of smart meters in households in developed countries; integration with IoT and smart home technologies; and efforts by market players to develop innovative metering solutions are the major trends impacting the gas meter market expansion

 

Date Company Event
Nov 2023 Honeywell Honeywell announced that it is launching its 100% hydrogen-capable diaphragm gas meter, the Honeywell EI5 smart gas meter, in Europe.
Aug 2023 Itron, Inc. In a notable development, Itron, Inc. completed a technology transfer with Sui Southern Gas Company Limited (SSGC) which involved the provision of advanced metering infrastructure.
Mar 2023 Rochester Gas and Electric Corp. The Rochester Gas and Electric Corp. announced that it is set to install 700,000 smart electric and natural gas meters in its Rochester division in the span of 3 years.
Mar 2023 Indraprastha Gas Limited (IGL) Indraprastha Gas Limited (IGL) and Genesis Gas Solutions Private Limited entered into a partnership for the development of an integrated smart meter manufacturing plant in India.

 

 

Trends Impact
Safety and compliance Advanced gas meters incorporate features for early leak detection and alerts, enhancing safety for consumers and reducing the risk of gas-related incidents.
Government measures supporting the installation of smart meters in various countries The UK government initiated the Smart Metering Programme which targets to distribute smart gas meters among 53 million domestic and non-domestic properties in Great Britain.
Integration with IoT and smart home technologies Smart gas meters, supported by the growing integration of the Internet of Things (IoT), allow for seamless communication between the energy provider and the consumer.
Efforts by market players to develop innovative metering solutions These meters are equipped with the latest technology, such as in-home display (IHD) meters, which provide real-time information about energy consumption and incurred money.

 

Gas Meter Market Trends

The integration of smart gas meters with the Internet of Things (IoT) represents a significant advancement in energy management and utility service delivery. This convergence promotes the gas meter market development due to the level of connectivity and data exchange rates that these solutions facilitate unlike traditional gas meters. For example, smart gas meters connected to IoT networks can transmit gas usage data in real-time or at frequent intervals which allows both consumers and utilities to monitor gas consumption with high accuracy and visibility.

 

In March 2023, Rochester Gas and Electric Corp. announced the installation of 700,000 smart electric and natural gas meters in its Rochester division in the next 3 years, which represents a significant upgrade to its energy distribution and management systems. This initiative was aimed at leveraging technology to improve energy management, enhance customer service, and contribute to environmental sustainability.

 

Gas Meter Market by Type

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Market Segmentation

“Gas Meter Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Type Basic, Smart
End Use Residential, Commercial, Industrial
Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa

 

Smart meters are gaining rapid momentum in the global gas meter market as they offer real-time insights and help manage gas distribution more efficiently

Smart meters are anticipated to experience robust demand in the forecast period. These meters use digital technology to measure gas consumption and can communicate this information back to the utility provider automatically and in real time. Their growth is supported by the regulatory mandates aiming to improve energy efficiency, reduce carbon emissions, and enhance customer service in developed regions such as Europe, North America, and parts of Asia. For instance, the European Union has set ambitious targets for smart meter rollouts in its member states, which has significantly boosted the adoption of smart gas meters.

 

Basic gas meters, on the other hand, are popular in developing countries and regions where the infrastructure and regulatory frameworks for smart meters are not yet fully in place. In these areas, the cost-effectiveness and simpler technology of basic meters make them a viable option for gas consumption measurement.

 

The residential sector accounts for a major gas meter market share and includes a vast number of individual consumers using gas meters

The residential sector is the leading application segment in the market owing to the rising installations and an increase in the number of residential connections. Every household with a gas connection requires at least one meter, and in many areas, gas is a primary energy source for heating and cooking, which results in a high demand for gas meters in this sector. In many regions, regulations require accurate and regular monitoring of gas consumption for billing purposes, safety, and environmental concerns. This regulatory environment necessitates the deployment of gas meters in all residential properties that use gas.

 

The gas meter market growth is also supported by the growing implementation of gas meters in the commercial sector. Commercial operations often require more complex metering solutions, including compound meters, turbine meters, or ultrasonic meters, to accurately measure high volumes of gas flow. These meters are more expensive than the basic or even smart meters used in residential settings, contributing to a larger share of market value.

 

Gas Meter Market by Region

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Competitive Landscape

The market players are increasing their collaboration efforts and are introducing innovative metering solutions to gain a competitive edge in the market

 

Company Founding Year Headquarters Products
Honeywell International Inc. 1906 North Carolina, United States Aerospace products, control technologies automotive products, turbochargers, and smart gas meters
Itron Inc. 1977 Washington, United States Smart meters for electricity, gas, and water and data management software
Apator S.A. 1919 Toruń, Poland Smart meters and gas flow meters
Diehl Stiftung & Co. KG 1902 Nuremberg, Germany Smart meter for water and energy (electricity and gas) and data management software

 

The players in the gas meter market engage in a variety of strategic activities to enhance their market position, boost innovations, and meet the evolving needs of consumers and utilities. For example, developing and launching advanced gas meter products, such as smart gas meters.

 

Gas Meter Market Analysis by Region

Region-wise, North America accounts for the largest share of the gas meter market, due in part to the initiation of new pipeline projects. Developed countries like the United States are expected to create several growth opportunities for the market, owing to the increasing adoption of smart gas meters in the future. There is also a growing trend of integrating smart gas meters with other smart home technologies, allowing consumers to manage their energy consumption more efficiently and participate in demand response programs. Moreover, both the United States and Canada have set ambitious goals to reduce greenhouse gas emissions. Efficient gas usage, supported by advanced metering infrastructure, plays a crucial role in achieving these targets.

 

The Asia Pacific gas meter market is expected to witness considerable growth in the coming years. In emerging nations like India and China, rapid industrialisation has led to an increase in the usage of natural gas in various sectors. As the installation of gas meters helps in reducing the wastage of gas during its supply, transmission, and distribution, the governments of these countries are increasingly adopting these meters. Moreover, development of smart cities in countries like China, Japan, India, and South Korea include the adoption of smart gas meters as part of an integrated approach to energy management and efficiency.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • End Use
  • Region
Breakup by Type
  • Basic
  • Smart
Breakup by End Use
  • Residential
  • Commercial
  • Industrial
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Honeywell International Inc.
  • Itron Inc
  • Apator SA.
  • Diehl Stiftung & Co. KG
  • Sensus (Xylem Inc.)
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Gas Meter Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Gas Meter Historical Market (2018-2023) 
    8.3    Global Gas Meter Market Forecast (2024-2032)
    8.4    Global Gas Meter Market by Type
        8.4.1    Basic
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Smart
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Gas Meter Market by End Use
        8.5.1    Residential
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Commercial
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Industrial
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)   
    8.6    Global Gas Meter Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Gas Meter Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Gas Meter Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Gas Meter Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Gas Meter Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Gas Meter Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Manufacturing Process

    16.1    Overview
    16.2    Detailed Process Flow
    16.3    Operation Involved
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Honeywell International Inc.
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Itron Inc
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Apator SA.
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Diehl Stiftung & Co. KG
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Sensus (Xylem Inc.)
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications            
        17.2.6    Others
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Gas Meter Market: Key Industry Highlights, 2018 and 2032
2.    Global Gas Meter Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Gas Meter Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Gas Meter Historical Market: Breakup by Application (USD Billion), 2018-2023
5.    Global Gas Meter Market Forecast: Breakup by Application (USD Billion), 2024-2032
6.    Global Gas Meter Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Gas Meter Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Gas Meter Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Gas Meter Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe Gas Meter Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Gas Meter Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific Gas Meter Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Gas Meter Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America Gas Meter Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Gas Meter Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa Gas Meter Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Gas Meter Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global Gas Meter Market Structure

Key Questions Answered in the Report

In 2023, the global gas meter market attained a value of nearly USD 3.86 billion. 

In the forecast period of 2024-2032, the market is expected to grow at a CAGR of 5.20%.

By 2032, the market is expected to attain a value of USD 6.09 billion.

The major market drivers include the surging installation of gas meters in the residential sector, growing demand for gas meters in developing countries, and rapid urbanisation.

The key trends guiding the market include technological advancements and advancements, the increasing research activities by leading companies to launch innovative gas meters equipped with latest technologies, and the introduction of favourable government initiatives aimed at reducing the wastage of natural gas during its supply, distribution, and transmission.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Basic and smart are the significant types of gas meters.

The major end uses of gas meters include residential, commercial, and industrial.

The major players in the market are Honeywell International Inc., Itron Inc., Apator S.A., Diehl Stiftung & Co. KG, and Sensus (Xylem Inc.), among others.

Analyst Review

The global gas meter market attained a value of USD 3.86 billion in 2023, driven by the rising demand from the residential sectors. Aided by the favourable government regulations, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.20%. The market is projected to reach USD 6.09 billion by 2032. 

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on types, the market can be segmented into basic and smart gas meters, with basic gas meter accounting for the largest market share. On the basis of end use, the residential sector accounts for the largest share in the market. The major regional markets for the product are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share of the market. The key players in the above market include Honeywell International Inc., Itron Inc, Apator SA., Diehl Stiftung & Co. KG, and Sensus (Xylem Inc.), among others. 

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition. 

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