Energy Meters Market Report 2026

The energy meters market size has grown strongly in recent years. It will grow from $21.3 billion in 2025 to $23.13 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to growing demand for accurate electricity billing, adoption of electromechanical and analog meters, expansion of electricity grids, increasing household and commercial electrification, need for energy monitoring and management.

The energy meters market size is expected to see strong growth in the next few years. It will grow to $32.09 billion in 2030 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to rapid deployment of smart meters, integration with renewable energy systems, government incentives for energy efficiency, technological advancements in digital metering, expansion of electric vehicle charging infrastructure. Major trends in the forecast period include rising adoption of smart meters, integration of iot-based energy management systems, digitalization of meter reading and billing processes, focus on energy efficiency and load management, expansion in residential, commercial, and industrial monitoring.

The increasing demand for renewable energy sources is projected to drive the growth of the energy meters market in the coming years. Renewable energy sources refer to energy resources that are naturally replenished and can be consistently renewed over time, including solar, wind, hydroelectric, geothermal, and biomass. The rising interest in renewable energy is largely due to concerns about climate change, the desire for energy independence, and the decreasing costs associated with renewable technologies. Energy meters play a crucial role in renewable energy by providing real-time information on energy production and consumption, enabling users to optimize their energy usage and better integrate renewable technologies. For example, in July 2024, GreenMatch, a UK-based online service that compares green energy quotes and solutions, reported that renewable energy sources accounted for about 13.1% of total primary energy consumption in the U.S. and approximately 21.5% of utility-scale electricity generation in 2022. Furthermore, by 2023, wind and solar energy are expected to contribute 16% to overall electricity generation, up from 14% in 2022. Consequently, the growing demand for renewable energy sources is spurring the growth of the energy meters market.

Key players in the energy meters sector are focusing on developing advanced grid-edge technologies, such as smart electricity meters, to improve energy management, enhance efficiency, and facilitate the integration of renewable energy sources. A smart electricity meter is a digital device that tracks energy consumption in real-time and transmits this information to both the utility provider and the consumer. For instance, in December 2023, Xylem Inc., a U.S.-based water technology company, introduced the Stratus IQ+ electricity meter, an advanced smart meter designed to improve utility management and meet the changing needs of the electric vehicle (EV) market. The Stratus IQ+ allows electric utilities to collect comprehensive system diagnostics and customer electricity usage data, which aids in the better management of distribution systems. It provides near-real-time monitoring of energy consumption, enabling immediate data recording and transmission.

In June 2024, Ancala, a UK-based investment management firm, acquired Solandeo for an undisclosed sum. This acquisition provides new capital and funding stability to the business, enabling it to address the rapidly increasing demand. This move is in response to a recent mandate from the German government for the nationwide rollout of smart meters for both commercial and residential customers starting in 2025. Solandeo is a German company that specializes in energy meters.

Major companies operating in the energy meters market report are ABB Ltd., Schneider Electric SE, Itron Inc., Kamstrup A/S, Iskraemeco d.d., Holley Metering Limited, Secure Meters Limited, Jiangsu Linyang Electronics Co. Ltd., Aclara Technologies LLC, Landis+Gyr Group AG, ZIV Automation, Elster Group GmbH, Genus Power Infrastructures Ltd., Cuculus GmbH, Sagemcom Energy & Telecom, Hexing Group, Apator S.A., Wasion Group Holdings, ADD Groupe, EDMI Limited, Havells India Ltd.

Asia-Pacific was the largest region in the energy meters market in 2025. Middle East and Africa (MEA) is expected to be the fastest-growing region in the forecast period. The regions covered in the energy meters market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the energy meters market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The energy meters market consists of sales of single-phase energy meters, three-phase energy meters, prepaid meters, DIN rail meters and submetering devices. 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.

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