Global Smart Gas Metre Market Report and Forecast 2024-2032

Global Smart Gas Metre Market Outlook

The global smart gas metre market attained a value of nearly USD 3.10 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.8% likely to attain a value of about USD 4.73 billion by 2032.

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Key Trends in the Market

A smart metre helps in measuring gas or electricity use like a traditional metre and sends its readings to the supplier automatically. Gas companies remotely monitor the consumption of consumers to control their demand and operations efficiently, as well as invoice customers accurately with smart gas metres. 

With smart metres, gas can be switched on and off when fitted out with a remotely controlled valve. It depends on low-voltage battery power to expand operational life and avoid ignition risks.

• The growing technological advancements, along with intelligent networks with an IoT-enabled platform to confirm efficient gas consumption monitoring patterns, are expected to propel the smart gas metre market demand across the globe.

• Developing intelligent and sustainable gas management solutions for precise billing mechanisms, coupled with remote metering, is likely to promote product adoption. This is further expected to drive the market growth of smart gas metres over the coming years.

• The strong adoption of innovative communication modules, along with the huge availability of various metre sizes comprising high-range coverage and low-power consumption, is expected to fuel the product usage. This is likely to push forward the market growth during the forecast period.

Market Analysis

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Based on technology, the market can be segmented into automatic metre reading (AMR) and advanced metreing infrastructure (AMI). On the basis of type, the market is categorised into smart ultrasonic gas metre and smart diaphragm gas metre. Based on component, the market is segmented into hardware and software. On the basis of end-use, the market is categorised into residential, commercial, and industrial. The regional markets for the smart gas metre market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global smart gas metre market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans. 

• Sehaj Synergy Technologies Pvt. Ltd.

• Honeywell International Inc.

• Diehl Stiftung & Co. KG

• Sensus

• Itron Inc.

• Others

Market Share by End-Uses

The residential segment is expected to hold substantial growth in the smart gas metre market share on account of the rising installation of gas metres in the residential sector. This is due to the surging trend of switching from fossil fuels to gas for household utilisation. The rising government support with subsidiaries and incentives is further promoting the usage of gas which is likely to boost the segment growth over the coming years. 

Going further, the transparency upheld, and rates imposed in accordance with smart gas usage are likely to contribute to the rise in smart metre gas growth installations. This is further expected to bolster the segment growth in the market.

Market Share by Region

The European region is expected to witness robust growth in the smart gas metre market due to the rising energy demand and greenhouse gas emission targets in the region. The stringent government rules and regulations by the government of Europe to offer end-users smart metreing units are expected to propel fuel the market share. 

Moreover, various regulators have launched security requirements and directives to guarantee the encryption of sensitive consumer data, which is further expected to encourage the product demand. The increasing shift towards renewables to attain short-term and long-term green energy targets has enhanced the number of smart gas metre installations. This is likely to support the market growth in the region over the coming years.

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Competitive Landscape

Sehaj Synergy Technologies Pvt. Ltd. is a technology company that was founded in 2015. The company is driving innovation with its class leading and affordable range of smarter IoT Products. The company aims to simplify the usage of complex IoT projects. It is the first company that has created the LoRa network ecosystems end device and network in India.

Honeywell International Inc. is a technology and engineering company. It creates and produces technologies that find challenges in several sectors, like security, energy, productivity, and safety, along with global urbanisation. The company provides energy-efficient solutions and products, process technologies, speciality chemicals, electronic and advanced materials, sensing, productivity, safety and security technologies, spare parts, repair, overhaul, and maintenance services, management and technical services.

Diehl Group (also known as Diehl Stiftung) is a company that deals in the controls, metal, metreing divisions, defence, and aviation. The company is a well-respected partner in the aviation industry as an international first-tier supplier of avionics and cabin integration. It provides a huge spectrum of innovative technologies and products in the field of metal processing.

Other market players include Sensus, and Itron Inc., among others.

Key Highlights of the Report