Gas Meter Global Market Report 2024

A gas meter is a device designed to measure the quantity or rate of flow of a gas through a specified path. Gas meters play a crucial role in accurate billing and monitoring of energy usage.

The main types of gas meters include turbine gas meters, ultrasonic gas meters, diaphragm gas meters, rotary gas meters, and others. A turbine gas meter employs a small helix or turbine to regulate the speed at which gas flows through it, deducing the gas flow on a volumetric basis. Gas meters are available in two different technologies such as smart and automated, as well as conventional. These devices find applications in residential, commercial, and industrial settings.

The gas meters market research report is one of a series of new reports from The Business Research Company that provides gas meters market statistics, including gas meters industry global market size, regional shares, competitors with a gas meters market share, detailed gas meters market segments, market trends and opportunities, and any further data you may need to thrive in the gas meters industry. This gas meters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The gas meter market size has grown strongly in recent years. It will grow from $4.75 billion in 2023 to $5.1 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion observed in the historical period can be attributed to strong economic growth in emerging markets, an increase in industrialization, a rise in safety concerns, and the aging infrastructure of gas distribution networks.

The gas meter market size is expected to see strong growth in the next few years. It will grow to $6.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be attributed to rapid urbanization, rising government support, and growing natural gas consumption. Key trends expected in the forecast period encompass the integration of IoT for better data analytics and predictive maintenance, the introduction of new and innovative gas meters for gas distribution, the introduction of prepayment gas meters to help consumers manage budgets more effectively, and a focus on partnerships and collaborations to develop smart metering solutions.

The gas meter market is poised for growth, primarily driven by the increasing pace of industrialization. Rapid industrialization, characterized by the shift towards mechanized manufacturing economies, has a substantial impact on energy demand. The surge in industrial activities is contributing to a notable rise in the consumption of oil and natural gas. Governments, particularly in developing regions, are actively promoting industrialization through various initiatives, further benefiting both regional and global gas meter markets. According to a report from the United Nations Industrial Development Organization (UNIDO) in March 2023, global manufacturing production witnessed a year-on-year increase of 3-4% in the fourth quarter of 2022, affirming the trajectory of rapid industrialization as a key driver for the gas meter market.

The growth in natural gas consumption is another significant factor propelling the gas meter market forward. The escalating demand for natural gas in industrial, commercial, and residential applications necessitates accurate gas metering. As per data from the International Energy Agency (IEA), global natural gas consumption is anticipated to grow by 3.4%, equivalent to 140 billion cubic meters, from 2021 to the end of the forecast period in 2025. This growth, with an average annual rate of 0.8%, is expected to result in a total consumption of approximately 4,240 billion cubic meters. Hence, the surging natural gas consumption acts as a driving force for the gas meter market.

Technological advancements stand out as a prominent trend in the gas meter market, with major companies focusing on the development of sophisticated products to fortify their market positions. A case in point is Itron Inc., a US-based technology firm, introducing the Itron Intelis gFlex prepayment gas meter in November 2022. This next-generation meter incorporates ultrasonic solid-state measuring technology with Itron's extensive prepaid metering expertise. The Intelis gFlex, integrated into an easily deployable SaaS system, assists utilities in ensuring revenue, reducing financial vulnerability, and enhancing customer satisfaction through improved cash conversion and a consumer-friendly site and mobile app for refilling and monitoring.

The integration of the Internet of Things (IoT) with gas meters is gaining traction in the market. This integration allows real-time visibility into usage patterns, enabling accurate billing, proactive maintenance, and data-driven decisions. Disrupt-X, a UAE-based IoT development company, launched an IoT Gas Metering Solution in April 2022, facilitating accurate monitoring of gas consumption and customized billing slabs. This solution enhances energy efficiency, supports sustainability goals, and enables remote monitoring, contributing to the evolving landscape of gas meter technology.

In July 2023, QIC Infrastructure, an Australia-based investment company, acquired a 50% stake in Vector Metering for AU$1.6 billion (US$1.1 billion), solidifying its position in the smart metering market. This acquisition reflects the increasing demand for smart meters as households seek more efficient energy consumption management. Vector Metering, an Australia-based provider of smart gas and electricity meters, is expected to play a pivotal role in QIC Infrastructure's strategic endeavors in the evolving gas meter market.

Major companies operating in the gas meter market report are Honeywell International Inc., Xylem Inc., Itron Inc., Siemens AG, Emerson Electric Co.,Endress + Hauser, Apator SA, Landis + GYR Group AG, ABB Ltd., Badger Meter Inc., EDMI Limited, Panasonic Holdings Corporation, Smartmeters Technologies Pvt. Ltd., Genesis Gas Solutions Private Limited, Secure Meters Limited, Schneider Electric India, Rihtek Automation Pvt. Ltd., Tokyo Gas Meter Co., Ltd., Chugoku Gas Meter Co., Ltd., Aichi Tokei Denki Co Ltd., AES Smart Metering Ltd., British Gas Metering Operations, E.ON, EDF Energy, Energy Assets Ltd., IMServ Europe Ltd., Jersey Electricity, Lowri Beck Services Ltd., PROLA SA, ENVEA, KROHNE, Statiflo, United P, H Supply Co, Furness Controls, Mac Instruments, Bopp and, Reuther, Kinequip Inc., Intellimeter Canada Inc., Norgas Controls, Metercor, Fgs Brasil Ind Com Ltda, Itron Solucoes Para Energia E Agua Ltda, Agilent Technologies Brasil Ltda, Buzas Industria E Comercio Ltda, Fluenta, KopaGas Ltd., MaasaraGazz Metro

Asia-Pacific was the largest region in the gas meter market in 2023. The regions covered in the gas meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the gas meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The gas meter market consists of sales of gas meters differentiated by operating principles such as displacement, velocity, head, thermal, acoustic, and tracer. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Gas Meter Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on gas meter market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for gas meter? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gas meter market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Turbine Gas Meter; Ultrasonic Gas Meter; Diaphragm Gas Meter; Rotary Gas Meter; Other Types
• 2) By Technology: Smart And Automated; Conventional
• 3) By End User: Residential; Commercial; Industrial
• Companies Mentioned: Honeywell International Inc; Xylem Inc; Itron Inc; Siemens AG; Emerson Electric Co.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.