The global gas meter market will be driven by growing demand for technologically advanced meters during the forecast period 2021-2026
Expert Market Research’s new report titled “Gas Meters Market Report and Forecast 2021-2026”, gives an in-depth analysis of the global Gas Meters market, assessing the market based on its segments such as Types, process types, distribution channels, applications and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): USD 3.32 billion
- Forecast CAGR (2021-2026): 5.1%
- Historical market size (2026): 4.5 billion USD
The gas meter market is growing owing to increased demand from industrial applications such as chemical, glass, pulp and paper, metals, refining, stone, rubber, and food processing industries. The fuel mix has shifted from coal to low-emission fuels like natural gas in recent years. Growing demand for smart equipment to track fuel supply in the energy sector will be a significant driver for the development of the global gas meter market over the forecast period. The increase in the installation of basic gas meters in the commercial and residential sectors can be attributed to the boom in the segment. Growing investments in infrastructure development to drive growth in smart cities, industrial and energy corridors are expected to further increase the gas meter industry, especially in Asia-Pacific.
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Industry definition and major segments
A gas meter is a device that measures and records the amount of gas consumed or generated. They ensure sufficient gas pressure from the main supply and keep track of gas consumption and issue correct bills.
The market can be divided into the following segments based on type:
The market can be divided on the basis of application into:
- Commercial plastics and rubber
The key regional markets for Gas Meter are:
- North America
- Latin Americas
- Middle East and Africa
- Asia Pacific
Low pollution, higher calorific value and easier operability are expected to play an important role in shaping the future industry. Over the next few years, such a change in customer trends should benefit the gas meter industry. As a result, administrative costs would be reduced and data processing between departments could be simplified. The inability to handle large volumes of data produced by smart gas meters, on the other hand, is expected to hamper the growth and development of the gas meter market.
Main market players
The major market players are Honeywell International Inc., Itron Inc., Apator SA., Diehl Stiftung & Co. KG, and Sensus (Xylem Inc.) among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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