PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1762821
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1762821
The global smart gas meter market is projected to reach USD 4.04 billion by 2030, up from USD 2.49 billion in 2024, registering a CAGR of 8.5% over the forecast period. Smart gas meters are becoming vital to modern energy networks, using digital technology to connect utilities and households in real time. This two-way communication makes tracking and understanding gas usage easier, helping companies and consumers manage energy more efficiently and even participate in new energy solutions like home-based storage and generation. As more smart devices join the network through the Internet of Things (IoT), the need for strong, secure, and fast communication systems grows-ensuring everything runs smoothly and safely, even as the number of connected devices skyrockets. Supportive government policies and regulations across the world are pushing for the use of smart grid technologies, including smart gas meters. These initiatives aim to promote energy conservation and improve grid reliability. Recently, the US Department of Energy announced USD 2 million in funding for advanced metering and automation projects that aim to modernize energy infrastructure and have highlighted significant investments in this area. These factors, along with rising demand in industry, commerce, and homes, are driving the use of smart gas meters as essential tools for updating gas networks and creating smarter, more resilient energy systems.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million) |
Segments | By Technology, type, Component, end user |
Regions covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa |
By technology, the automated meter reading (AMR) segment is expected to hold a larger share of the smart gas meter market during the forecast period.
Automated meter reading (AMR) is expected to be the standout feature in the smart gas meter market in the coming years. This growth is fueled by the rising demand for affordable smart gas meters, which can automatically collect readings and eliminate the need for manual checks. The Asia Pacific region is likely to command the maximum share of the market, followed closely by Europe. The growth is mainly due to the extensive rollout of smart gas meters in these geographies' residential, commercial, and industrial areas. This resonates with your interest in smart energy technology and grid modernization as a way to improve efficiency and save costs.
By component, the hardware segment is expected to be the largest segment during the forecast period."
The hardware segment is the largest in the global smart gas meter market, accounting for more than 50% of total revenue in 2024 and continuing to dominate through the forecast period. This leadership is driven by the rising demand for advanced metering infrastructure that delivers precise measurement and real-time data capabilities. Hardware devices, such as smart meters, sensors, and communication devices, are the foundation of smart gas metering solutions, which facilitate precise consumption measurement and automatic data collection. Constant innovation in hardware technology has enhanced performance and longevity, aligning with smart gas meters becoming increasingly appealing to utility companies and end-users and driving the market's healthy growth.
By region, Asia Pacific is anticipated to be the fastest-growing market for smart gas meters during the forecast period.
The smart gas meter market with the quickest rate of growth is Asia Pacific, with Europe coming in second. China, Japan, Malaysia, Australia, Indonesia, Singapore, and the Rest of Asia Pacific are the countries that make up this region. The region's biggest and fastest-growing market is China. Currently, China is at the forefront of new investments in smart grid technologies. Due to the significant changes occurring in the nation's energy sector, China has emerged as the primary user of smart grid technology. Smart grid technologies will become increasingly necessary as a result of the nation's ambitious renewable energy program. China's emphasis on adopting energy efficiency is another factor supporting the need for the smart grid industry, which in turn is driving up demand for smart gas meters.
By Company Type: Tier 1- 57%, Tier 2- 29%, and Tier 3- 14%
By Designation: C-Level- 35%, Managers- 20%, and Others- 45%
By Region: North Americas- 20%, Europe- 15%, Asia Pacific- 30%, and the Middle East & Africa- 25% and South America- 10%
Note: The tiers of the companies are defined based on their total revenues as of 2023. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
Apator S.A. (Poland), Diehl Stiftung & Co. KG (Germany), Honeywell International Inc. (United States), Itron Inc. (US), Landis+Gyr (Switzerland), Sensus (Xylem) (US), EDMI Limited (Singapore), Chongqing Shancheng Gas Equipment Co., Ltd. (China), Dongfa (Group) (China), Raychem RPG (India), CHINT Group (China), ZENNER International GmbH & Co. KG (Germany), Master Meter (US), Aclara Technologies (US) are some of the key players in the smart gas meter market. The study includes an in-depth competitive analysis of these key players in the smart gas meter market, with their company profiles, recent developments, and key market strategies.
The report defines, describes, and forecasts the smart gas meter market by type (Smart Ultrasonic Gas Meter, Smart Diaphragm Gas Meter), technology (Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI)), component (Hardware, Software), end user (Residential, Commercial, Industrial), and by region (North America, Europe, Asia Pacific, Middle East & Africa, and South America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the smart gas meter market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, mergers and acquisitions; and recent developments associated with the smart gas meter market.
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