Allied Market Research published a new report, titled, Gas Meter Market was pegged at $5.8 billion in 2020, and is estimated to generate $9.7 billion by 2028, growing at a CAGR of 6.6% from 2021 to 2028.
Rapid industrialization in emerging economies and strong support from governments across the globe have boosted the growth of the global gas meter market. However, high installation costs and integration of complex technologies hinder the market growth. On the contrary, favorable policies and subsidies from industry players are estimated to open lucrative opportunities for the market players in the future.
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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.
The research offers a detailed segmentation of the global Gas Meter market. Key segments analyzed in the research include Product Type and End Userand geography. Extensive analysis of sales, revenue, growth rate, and market share of each segment, and geography for the historic period and the forecast period is offered with the help of tables.
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By region, the market across Europe, followed by North America, held the largest share in 2020, contributing to more than two-fifths of the market, due to surge in concern toward energy conservation and government regulation regarding energy management. However, the global gas meter market across Asia-Pacific is anticipated to portray the highest CAGR of 8.8% during the forecast period, owing to rise in demand for smart metering devices in the region.
The market player positioning segment provides an understanding of the current position of the market players active in the Gas Meter industry.
The research offers an extensive analysis of key players active in the global Gas Meter industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include General Electric, Itron, Elster, Landis+Gyr, ABB, Aclara, and Badger Meter. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
Get detailed COVID-19 impact analysis on the Gas Meter Market Request Here
Covid-19 scenario:
- The Covid-19 pandemic severely affected the demand for gas meters due to shutdowns in the industry sector. In addition, lockdown across several countries delayed the installation of a large number of smart meters. Moreover, the prolonged lockdown disrupted the supply chain.
- However, the trend toward work from home and rise in residential energy consumption has increased the installation of gas meters in residential end-users.
Key offerings of the report:
- Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
- Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
- Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
- Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
- Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
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