The global power metering market was valued at $11.2 billion in 2022, and is projected to reach $21.0 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.
Power metering, also known as energy metering or electricity metering, is the act of calculating and keeping track of the amount of electrical energy used in industrial, commercial, and residential contexts. Power metering is primarily used to measure and record the quantity of electricity used, giving consumers the ability to better understand their energy usage, control expenses, and increase energy efficiency. To gauge how much electricity is used, power meters are installed at various points in an electrical system. They keep track of data using measures like kilowatt-hours (kWh) or megawatt-hours (MWh), which stand for the total amount of energy used during a given time period.
Real-time information on energy usage is provided by advanced power metering systems. Users continuously track their electrical consumption and modify as necessary to reduce costs. Utility providers need power metering in order to appropriately bill customers for their energy usage. Residential, business, and industrial users all be subject to different tariff schemes. Power meters provide load profiles, which display the variations in energy use over the course of a day and over several days. Utility companies and consumers better understand electricity usage patterns thanks to this data. Some meters track demand, which is the rate of electrical energy use at any given time. Demand charges are frequently included in electricity bills for businesses and industries.
Individuals and businesses lessen their carbon footprints and support environmental sustainability by being aware of their energy usage. Users of renewable energy sources monitor their usage and excess energy production with the aid of power meters. This is in favor of net metering and the grid-integration of renewable energy. Modern meters identify voltage changes, overloads, and other anomalies, allowing for quick corrections and a reduction in downtime. Many contemporary meters have connectivity features that enable remote data collecting, hence minimizing the need for manual reading and maintenance visits. The transparent data on energy usage provided by power metering makes it simpler for consumers to comprehend and manage their consumption.
Smart meters, which gather specific real-time data and provide information about consumers' everyday routines and behaviors, have sparked privacy concerns. For utilities as well as users, upgrading to sophisticated power meters or smart meters be expensive. However, the benefits in the long run frequently outweigh these expenses. Strong security measures are needed for the gathering and transfer of data from smart meters in order to guard against data breaches and cyberattacks. Smart meter operation is impacted by technological issues in some locations, such as unstable cellular or internet connectivity.
The power metering market is studied on the basis of type, application, and region. By type, the power metering market is divided into single, and three. By application, the market is categorized into commercial, industrial, and residential. By region, the power metering market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa). The major players operating in the power metering market are General Electric, Toshiba Corporation, ABB Ltd., Eaton Corporation plc, Siemens AG, Holley Metering Ltd., Aclara Technologies LLC, Melrose Industries plc, Wasion Holdings Limited, and Sensus. The companies adopted key strategies such as collaboration to increase their market share.
The drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.
Power metering, also known as energy metering or electricity metering, is the act of calculating and keeping track of the amount of electrical energy used in industrial, commercial, and residential contexts. Power metering is primarily used to measure and record the quantity of electricity used, giving consumers the ability to better understand their energy usage, control expenses, and increase energy efficiency. To gauge how much electricity is used, power meters are installed at various points in an electrical system. They keep track of data using measures like kilowatt-hours (kWh) or megawatt-hours (MWh), which stand for the total amount of energy used during a given time period.
Real-time information on energy usage is provided by advanced power metering systems. Users continuously track their electrical consumption and modify as necessary to reduce costs. Utility providers need power metering in order to appropriately bill customers for their energy usage. Residential, business, and industrial users all be subject to different tariff schemes. Power meters provide load profiles, which display the variations in energy use over the course of a day and over several days. Utility companies and consumers better understand electricity usage patterns thanks to this data. Some meters track demand, which is the rate of electrical energy use at any given time. Demand charges are frequently included in electricity bills for businesses and industries.
Individuals and businesses lessen their carbon footprints and support environmental sustainability by being aware of their energy usage. Users of renewable energy sources monitor their usage and excess energy production with the aid of power meters. This is in favor of net metering and the grid-integration of renewable energy. Modern meters identify voltage changes, overloads, and other anomalies, allowing for quick corrections and a reduction in downtime. Many contemporary meters have connectivity features that enable remote data collecting, hence minimizing the need for manual reading and maintenance visits. The transparent data on energy usage provided by power metering makes it simpler for consumers to comprehend and manage their consumption.
Smart meters, which gather specific real-time data and provide information about consumers' everyday routines and behaviors, have sparked privacy concerns. For utilities as well as users, upgrading to sophisticated power meters or smart meters be expensive. However, the benefits in the long run frequently outweigh these expenses. Strong security measures are needed for the gathering and transfer of data from smart meters in order to guard against data breaches and cyberattacks. Smart meter operation is impacted by technological issues in some locations, such as unstable cellular or internet connectivity.
The power metering market is studied on the basis of type, application, and region. By type, the power metering market is divided into single, and three. By application, the market is categorized into commercial, industrial, and residential. By region, the power metering market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa). The major players operating in the power metering market are General Electric, Toshiba Corporation, ABB Ltd., Eaton Corporation plc, Siemens AG, Holley Metering Ltd., Aclara Technologies LLC, Melrose Industries plc, Wasion Holdings Limited, and Sensus. The companies adopted key strategies such as collaboration to increase their market share.
The drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the power metering market analysis from 2022 to 2032 to identify the prevailing power metering market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the power metering market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global power metering market trends, key players, market segments, application areas, and market growth strategies.
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- SWOT Analysis
Key Market Segments
By Phase
- Single
- Three
By Application
- Commercial
- Industrial
- Residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- General Electric
- Eaton Corporation plc
- Aclara Technologies LLC
- Melrose Industries PLC
- ABB Ltd.
- Siemens AG
- Sensus
- Toshiba Corporation.
- holley metering ltd.
- Wasion Holdings Limited.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: POWER METERING MARKET, BY PHASE
CHAPTER 5: POWER METERING MARKET, BY APPLICATION
CHAPTER 6: POWER METERING MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the power metering market was valued at $11.2 billion in 2022, and is estimated to reach $21 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.The process of determining and monitoring the quantity of electrical energy utilized in commercial, residential, and industrial settings is called power metering, sometimes referred to as energy metering or electricity metering. In order to help consumers better understand their energy usage, control costs, and improve energy efficiency, power metering is generally used to measure and record the amount of electricity utilized. Power meters are placed at several locations throughout an electrical system to measure the amount of electricity utilized. Megawatt-hours (MWh) and kilowatt-hours (kWh), which represent the total amount of energy utilized during a specific time period, are some of the metrics they employ to track data.
Modern power meters are able to identify abnormalities in electrical systems, including power quality problems, overloads, and variations in voltage. Preventive maintenance and downtime reduction are aided by this data. Power metering, which records energy usage as well as excess energy generated and supplied back into the grid, is essential for users of solar panels or other renewable energy sources. Individuals and organizations can lessen their carbon footprint and promote environmental sustainability by being aware of how much energy they use.
These days, a lot of power meters have communication features that enable remote data management and collecting. Utilities and large companies with multiple metering points will find this very useful. Smart meters are more sophisticated power meters that come equipped with extra functions including real-time connectivity, automated data collecting, and two-way communication. They permit greater precise monitoring and control of energy usage.
The power metering market is studied on the basis of type, application, and region. By type, the power metering market is divided into single and three. By application, the market is categorized into commercial, industrial, and residential. By region, the power metering market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa). Saudi Arabia's power metering market is evolving due to urbanization, industrialization, and the Kingdom's Vision 2030 program, which includes energy sector reforms. The Saudi Electricity Company (SEC) is implementing smart metering projects to enhance grid management and improve customer service. The country's efforts to reduce energy consumption, increase efficiency, and integrate renewable energy sources are driving investments in advanced metering infrastructure.The major players operating in the power metering market are General Electric, Toshiba Corporation, ABB Ltd., Eaton Corporation plc, Siemens AG, Holley Metering Ltd., Aclara Technologies LLC, Melrose Industries plc, Wasion Holdings Limited, and Sensus. The companies adopted key strategies such as collaboration to increase their market share.
The drivers, restraints, and opportunities are explained in the report to better understand the power metering market scope. This report further highlights the key power metering market trends and areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.
The report offers a thorough analysis of the power metering market with detailed study of various aspects of the market such as market dynamics, vital segments, major geographies, key players, and competitive landscape. The report provides a clear picture of the current market situation and future trends of the Power metering Market based on the impact of various market dynamics and vital forces influencing the market. The drivers and opportunities in the market contributing to the market growth are acknowledged in the market dynamics. Besides, challenges and restraints that hold potential to hamper the market growth are also premeditated in the Power metering Market. Porter's five forces analysis is delivered through the report which precisely highlights the effects of key forces on the power metering market. The report offers market size and estimations analyzing power metering market through various segments.
In addition, the report includes geographical market analysis of these segments. Each segment entailed in the report is studied at regional and country level as well to provide complete coverage of the power metering market. The report categorizes the Power metering Market into four major geographies including North America, Europe, Asia-Pacific, and LAMEA. These geographies are further sub-categorized into countries to cover Power metering Market scenario across respective regions. Furthermore, the report covers the competitive scenario of the Power metering Market. The key players operating in the Power metering Market are studied in the report to understand their current market position and competitive strengths in the industry. The report profiles 10 key companies. Moreover, the company profiles include various data-points such as company overview, company executives, recent financials of the company, major growth strategies espoused by company, new initiatives, and advancements by company to sustain and mend their position in the Power metering Market, and others.
Companies Mentioned
- General Electric
- Eaton Corporation plc
- Aclara Technologies LLC
- Melrose Industries PLC
- ABB Ltd.
- Siemens AG
- Sensus
- Toshiba Corporation.
- holley metering ltd.
- Wasion Holdings Limited.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | October 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 11.2 billion |
| Forecasted Market Value ( USD | $ 21 billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
