Smart Gas Meter Market Size, Share & Industry Analysis, By Type (Advanced Metering Infrastructure and Auto Meter Reading) By Application (Residential, Industrial, and Commercial), and Regional Forecast, 2019-2032

The global smart gas meter market size was valued at USD 6.76 billion in 2018 and is projected to reach USD 15.12 billion by 2032, exhibiting a CAGR of 5.94% during the forecast period of 2019-2032.

With the efforts taken to reduce greenhouse gas emissions, the usage of natural gas for all possible applications has gained importance. This, coupled with the upcoming technologies that enable users to have a track record of energy consumption is driving the smart gas market growth. Although this technology is new and is present in fewer countries, its operating advantages and economic feasibility will help the market to have a widespread reach in many countries during the forecast period.  Gas is the primary need in today’s world for household applications such as cooking, water heating, room heating, and others. Owing to this, gas pipelines are being set up in many countries to make natural gas available to every house in the country. Gas meter offers various advantages such as precise reading, avoiding manual involvement, maintaining data of usage, avoiding unaccounted consumption, and evaluating monthly tariffs.

Smart gas meter is available mainly in two types namely advanced metering infrastructure and auto meter reading. Smart meter is equipped with the technology that provides energy consumption in digital readings and not in analog meter unlike traditional meters. This makes the study of gas consumption easy and precise.

In recent years Asia Pacific witnessed a substantial growth in population. This is propelling residential, commercial and industrial sectors to grow immensely in the region. The region has witnessed a switch from the traditional meter to smart meter in terms of electricity, and this trend is estimated to be followed for smart gas meter as well, thus promoting the use of natural gas and curb GHG gas emissions. 

MARKET DRIVERS

“Operational Safety and Cost Savings for Gas Companies & Customers Will Drive Market”

Operational advantages such as elimination of noting monthly reading manually, continuous monitoring of pipeline, availability of real-time data, and preciseness in operation will drive the adoption of smart gas metering. Also, the cost savings brought in along with the one-time investment in smart meter will drive the market growth. Along with the advantages provided to the gas companies, the smart gas meter also has certain benefits for customers that include adjusting the user to control the monthly bills, detailed feedback regarding energy use, and reduces the number system failures. Such factors are expected to attract high smart gas meters market revenue in the forecast duration.

 “Switch Towards Clean Energy Will Augment Smart Gas Meter Installations”

The inclination towards clean sources of energy in recent years has increased the demand for natural gas across various end-user segments. This increased demand, coupled with government support to enhance gas usage has fueled the adoption of natural gas. Additionally, according to a survey on energy consumption conducted by Smart Energy GB in UK, 86% of people having smart meter installed in their homes have made significant changes to their energy saving behavior. These behavioral changes in energy help to bring down energy emissions, thus promoting the smart gas meter market growth. Following this, many suppliers now favor the installation of the smart meter with exclusive tariff plans for residential usage. 

SEGMENTATION

By Type Analysis

“AMI Will Lead Market Owing to Their Operational Advantages Over Other Counterparts”

Based on type of meters, the market is segmented into auto meter reading and advanced metering infrastructure. Owing to their operational advantages, the adoption of advanced metering infrastructure has been on the rise in recent years. Two-way communication between the gas company and the customer is one of the major operational advantages of advanced metering infrastructure that has led to its increased adoption across various regions.

Advanced metering infrastructure segment holds a strong position in the market, as the major smart meter roll-outs being carried out since 2016 are mainly of the advanced metering infrastructure. Also, the inclination towards clean energy has led to availability of gas lines for residential usage and therefore, the smart gas meter installations has increased. The rise in the adoption of renewable energy has also added to the adoption of the smart gas metering system. Another major advantage of advanced metering infrastructure meters is the maintained transparency between the customer and gas company. This keeps both the parties updated with the precise readings and avoids any miscommunication between the two.  

By Application Analysis

“Growing Installations in Residential Sector Will Lead to its Domination in Market”

Based on application, the smart gas meter market is segmented into residential, industrial and commercial. Gas meters are increasingly installed in the residential sector in recent years owing to increasing trend of switching from fossil fuels to gas for household applications. Other factors boosting the residential sector are the incentives and subsidiaries provided by the government to promote the use of gas. Additionally, the transparency maintained and tariffs applied as per the usage of smart gas, adds to the increasing number of smart meter gas growth installations. Gas meters also help to identify the areas of maximum consumption and therefore increase awareness to reduce the energy losses.

The industrial and commercial segments have also witnessed high global smart gas meter market revenue but as compared to the growth of the residential sector, their growth has been slow and minimal. These smart gas meter market trends are set to continue with the increasing adoption of smart meters from the residential sector during the given forecast period.

REGIONAL ANALYSIS

Geographically, the global smart gas meter market has been analyzed across five major regions, namely  North America, Europe, Asia Pacific,  Latin America and the Middle East and Africa. These regions are further categorized into countries.   

Asia Pacific stands as one of the major regions for the smart gas meter market growth.  China hold a strong position in the smart gas meter market share in Asia Pacific.  The country witnessed a good success with its smart electric meters roll out. Following this, the Chinese government is now looking forward to replicate the same in smart gas meters installations countrywide. This can be witnessed with the planned installations of smart gas meter in the coming years. Smart gas meter deployment has gained pace owing to the increased energy demand and greenhouse gas emission targets in the region. India, South Korea, Japan, Indonesia are the other major countries are attracting high smart gas metering market revenues in the region.

Europe has witnessed the maximum number of rollouts by various countries to enhance their smart gas meter installations.  Shift towards the renewables to achieve long term and short term green energy targets have increased the number of smart gas meter installations. The presence of key market players and ambitious gas meter rollouts made Europe emerge as one of the target regions to expand business in terms of smart gas meter sales. Major countries in the region that have called up huge smart gas meter rollouts are Italy, UK, Spain, Luxemburg, and Sweden. Following the footsteps of these countries, other countries have also triggered their smart gas meter installations. This will undoubtedly drive the growth of the region during the forecast period.

North America is the state leading the way in technological advancements, and holds a significant smart gas meters’ market share. Replacement of existing infrastructure with the new technology and promoting gas usage has made the US emerge as one of the leading nations in gas production. This ultimately will surge the smart gas meter market size. In the past years, North America has witnessed a significant rise in the deployment of smart meters. The U.S has been the dominant country, followed by Canada.

The Middle East & Africa and Latin America are regions that have recently accepted the penetration of smart gas meter installations. Mexico and Brazil the countries that will push the growth of the market in Latin America. Similarly, GCC countries and South Africa will dominate the market for smart gas meter in the Middle East and Africa over the forecast period.

INDUSTRY KEY PLAYERS

“ Siemens, ABB, Itron are Among The Leading Players In Smart Gas Meter Market”

The global market is highly fragmented with the presence of numerous competitive players. Landis+Gyr, Kamstrup, Siemens, ABB, GE form a major portion of the market for delivering smart gas meter solutions across the globe.

LIST OF KEY COMPANIES PROFILED :

• ABB


• GE


• Siemens


• Landis+Gyr


• Honeywell


• Kamstrup


• Itron, Inc.


• Xylem Inc.


• Aclara


• Secure Meter Limited


• Holley Technology Ltd


• Jabil


• Xemex


• EDMI Limited


• EMH metering GmbH & Co KG

REPORT COVERAGE

Growing demand for energy across the globe and with the need to reduce the energy consumption practices that lead to wastage of energy have acted as major drivers for the smart gas metering. The need to keep transparency between energy providers and customers has led to an increase in demand for gas meter.

Along with this, the report provides an elaborative analysis of the global smart gas meter market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global market, such as mergers & acquisitions, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis. Other details provided includes key retail industry trends, competitive landscape and company profiles.

Report Scope & Segmentation

INDUSTRY DEVELOPMENT:

• In April 2019, OVO energy signed a contract with Aclara technologies for the implementation of its new SMETS2 meter. Through these meter, OVO energy is set to provide its gas and electric meter with a dual fuel smart metering service. This move comes in with the aim to modernize the grids and comply with the UK’s smart meter rollout program.   


• In December 2019, Nippon Gas Co. announced the retrofitting of its existing gas meter across Japan with a smart makeover. The IoT based reader called SPACE HOTARU is planned to be fully in place by the end of 2020. It is said to be the largest deployment for smart utilities to date with an up-gradation of around 8,50,000 gas meter.