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Smart Gas Meter Market to exceed $2.27 Billion by 2021

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The smart gas meter market is expected to reach a size of USD 2.27 billion by 2021, at a CAGR of 7.24% from 2016 to 2021. Factors such as government policies & mandates in developed economies and accurate billing & improved customer service are driving the market globally. Residential customers are the largest end-users of smart gas meters, followed by commercial and industrial customers.

The smart gas meter market in this report has been classified based on end-users into three segments, namely, residential, commercial, and industrial. The residential segment accounted for the largest market size, in terms of value, in 2015. The global gas pipeline network construction in the residential segment accounted for 1,054 kms (approx.) in the past 5 years with another 100 kms expected to be constructed in next 2-3 years, which would boost the smart gas meter market.

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The AMR segment would dominate the global smart gas meter market by 2021

The AMR segment is estimated to be the largest market for smart gas meters in 2016. Popular in North America and Europe, this metering infrastructure is increasingly being implemented in other regions as well; it was developed initially and is less expensive than AMI, and hence, has the largest market size. However, the AMI market is projected to grow at the highest rate because of its advanced technology. Moreover, AMI reduces labor cost, and several gas utilities worldwide are replacing AMR with AMI infrastructure, further creating growth opportunities for the AMI market.

North America: the dominant market for smart gas meters

North America dominates the smart gas meter market, and Europe is expected to grow at the highest rate during the forecast period. In North America, the growth of the smart gas meter market could be attributed to factors such as investments in smart grid and gas pipeline networks. Meanwhile, several smart gas meter rollouts are taking place in countries such as the U.K., Spain, and France. This, coupled with the EU’s (European Union) plans regarding carbon emission reductions, would drive growth in the European region.

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Some of the leading players in the smart gas meter market includes Itron, Inc. (U.S.), Honeywell International, Inc. (U.S.), Apator Group (Poland), Landis+Gyr (Switzerland), Diehl Metering (U.K.), Sensus (U.S.), EDMI Limited (Singapore), Chongqing Shancheng Gas Equipment Co., Ltd. (China), Dandong Dongfa Group (China), Raychem RPG (India), and Master Meter (U.S.).

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