Power Metering Global Market Report 2024

Description

Power metering refers to the measurement of electrical energy consumption in systems or devices. It utilizes specialized equipment, known as power or energy meters, to track and record electricity usage over time. These meters can monitor various parameters, including voltage, current, power (active, reactive, and apparent), energy (kWh), and, in some cases, power quality metrics such as harmonics and frequency.

The primary types of power metering include smart, digital, and analog. Smart power meters are advanced devices that not only measure electricity usage but also transmit data in real-time. They are available in both single-phase and three-phase configurations and are widely used across residential, commercial, and industrial sectors.

The power metering market research report is one of a series of new reports from The Business Research Company that provides power metering market statistics, including power metering industry global market size, regional shares, competitors with a power metering market share, detailed power metering market segments, market trends and opportunities, and any further data you may need to thrive in the power metering industry. This power metering 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 power metering market size has grown strongly in recent years. It will grow from $16.65 billion in 2023 to $18.17 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth during the historic period can be attributed to the expansion of electric utilities, the increasing adoption of energy storage solutions, the integration of renewable energy sources, the rise in industrial activities, and the growing presence of electric vehicles.

The power metering market size is expected to see strong growth in the next few years. It will grow to $25.91 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The projected growth during the forecast period can be attributed to rising energy consumption, increasing consumer demand for real-time data, the growing emphasis on cybersecurity within energy infrastructure, rising investments in smart meter deployment, and increased spending in construction. Key trends expected in this period include technological advancements, the adoption of smart grids, integration of IoT, the use of artificial intelligence, and the expansion of meter data management systems.

The increasing emphasis on energy efficiency is anticipated to drive the growth of the power metering market moving forward. Energy efficiency refers to using less energy to achieve the same results, thereby reducing energy waste and associated costs. This focus is being fueled by rising energy prices, environmental concerns, and regulatory pressures. Power metering contributes to energy efficiency by providing real-time data on energy consumption, enabling better management and optimization of energy use. For instance, in April 2022, the UK Department for Business, Energy & Industrial Strategy reported that as of 2022, 40% of homes in England had achieved Energy Performance Certificate (EPC) ratings of B or C or higher, reflecting significant energy efficiency. Additionally, 84% of new homes met the highest energy efficiency standards (A or B), highlighting the impact of modern construction practices and regulations. By 2025, approximately 700,000 homes are expected to be upgraded to improve their energy performance. Thus, the focus on energy efficiency is spurring growth in the power metering market.

Key players in the power metering market are developing advanced products, such as optical power meters, which provide accurate optical signal power measurements. These devices are used primarily in fiber optic networks to measure light signal strength, ensuring the effective operation of optical communication systems. In March 2023, Santec Corporation, a Japan-based company, introduced the OPM-200 power meter. This high-performance optical power meter is designed for accuracy and ease of use in both laboratory and manufacturing environments. The OPM-200 features a dynamic measurement range from +8 dBm to -80 dBm, making it adaptable for various uses. It can be configured with up to four detectors, either panel-mounted or remote-head, with remote-head cables extending up to 10 meters. The device also supports a high-speed sampling rate of 1 MHz, with user-selectable averaging times between 50 microseconds and 1 second.

In June 2024, Ancala, a UK-based investment management firm, acquired Solandeo for an undisclosed sum. This acquisition provides new capital and financial stability to the business, positioning it to meet rapidly increasing demand. The move follows the German government's recent mandate for a nationwide deployment of smart meters to both commercial and residential customers starting in 2025. Solandeo is a Germany-based company that specializes in smart metering solutions.

Major companies operating in the power metering market are Siemens AG, Honeywell International Inc., GE Vernova, Toshiba Corporation, Eaton Corporation Plc, Infineon Technologies AG, Ametek Inc., Fluke Corporation, Yokogawa Electric Corporation, Schneider Electric SE, Rohde & Schwarz GmbH & Co. KG, Schweitzer Engineering Laboratories Inc., Socomec Group, Mitsubishi Electric Automation Inc., Hexing Electrical Co. Ltd., Circutor SA, Kamstrup A/S, Accuenergy Inc., EMH Metering GmbH & Co. KG, Metrix Instrument Co. Ltd., Trinity Energy Systems Pvt. Ltd., ZIV Automation S.L

North America was the largest region in the power metering market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the power metering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

The power metering market consists of sales of energy monitoring systems, portable power analyzers, direct current meters, voltage and current transducers. 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.

Power Metering 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 power metering 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 COVID-19 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 power metering ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The power metering 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: Smart; Digital; Analog
2) By Phase: Single Phase; Three Phase
3) By End User: Residential; Commercial; Industrial
Companies Mentioned: Siemens AG; Honeywell International Inc.; GE Vernova; Toshiba Corporation; Eaton Corporation Plc
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.

Product Code: r20329

1. Executive Summary

2. Power Metering Market Characteristics

3. Power Metering Market Trends And Strategies

4. Power Metering Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Power Metering Market Size and Growth

5.1. Global Power Metering Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Power Metering Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Power Metering Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Power Metering Market Segmentation

6.1. Global Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Smart
Digital
Analog
6.2. Global Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Single Phase
Three Phase
6.3. Global Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Residential
Commercial
Industrial

7. Power Metering Market Regional And Country Analysis

7.1. Global Power Metering Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Power Metering Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Power Metering Market

8.1. Asia-Pacific Power Metering Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Power Metering Market

9.1. China Power Metering Market Overview
9.2. China Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Power Metering Market

10.1. India Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Power Metering Market

11.1. Japan Power Metering Market Overview
11.2. Japan Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Power Metering Market

12.1. Australia Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Power Metering Market

13.1. Indonesia Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Power Metering Market

14.1. South Korea Power Metering Market Overview
14.2. South Korea Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Power Metering Market

15.1. Western Europe Power Metering Market Overview
15.2. Western Europe Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Power Metering Market

16.1. UK Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Power Metering Market

17.1. Germany Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Power Metering Market

18.1. France Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Power Metering Market

19.1. Italy Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Power Metering Market

20.1. Spain Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Power Metering Market

21.1. Eastern Europe Power Metering Market Overview
21.2. Eastern Europe Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Power Metering Market

22.1. Russia Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Power Metering Market

23.1. North America Power Metering Market Overview
23.2. North America Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Power Metering Market

24.1. USA Power Metering Market Overview
24.2. USA Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Power Metering Market

25.1. Canada Power Metering Market Overview
25.2. Canada Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Power Metering Market

26.1. South America Power Metering Market Overview
26.2. South America Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Power Metering Market

27.1. Brazil Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Power Metering Market

28.1. Middle East Power Metering Market Overview
28.2. Middle East Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Power Metering Market

29.1. Africa Power Metering Market Overview
29.2. Africa Power Metering Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Power Metering Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Power Metering Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Power Metering Market Competitive Landscape And Company Profiles

30.1. Power Metering Market Competitive Landscape
30.2. Power Metering Market Company Profiles
- 30.2.1. Siemens AG
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Honeywell International Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. GE Vernova
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Toshiba Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Eaton Corporation Plc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Power Metering Market Other Major And Innovative Companies

31.1. Infineon Technologies AG
31.2. Ametek Inc.
31.3. Fluke Corporation
31.4. Yokogawa Electric Corporation
31.5. Schneider Electric SE
31.6. Rohde & Schwarz GmbH & Co. KG
31.7. Schweitzer Engineering Laboratories Inc.
31.8. Socomec Group
31.9. Mitsubishi Electric Automation Inc.
31.10. Hexing Electrical Co. Ltd.
31.11. Circutor SA
31.12. Kamstrup A/S
31.13. Accuenergy Inc.
31.14. EMH Metering GmbH & Co. KG
31.15. Metrix Instrument Co. Ltd.

32. Global Power Metering Market Competitive Benchmarking

33. Global Power Metering Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Power Metering Market

35. Power Metering Market Future Outlook and Potential Analysis

35.1 Power Metering Market In 2028 - Countries Offering Most New Opportunities
35.2 Power Metering Market In 2028 - Segments Offering Most New Opportunities
35.3 Power Metering Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer