Smart metering solutions comprise of meters or modules, with communication capabilities (either one-way or two-way) embedded within the meter or attached to it. The market for smart gas meters is expected to show consistent growth during the forecast period. Parallel integration pushes the smart gas meter market, coupled with electricity meters, in countries like the United Kingdom, which is incorporating common In-House Displays (IHDs) for multiple services. The smart gas meter market has limited product differentiation scope, based on technology. Thus, the price, service, and durability remain the critical factors in product and service selection. However, factors, like the availability of capital funding and comparatively higher price than the regular metering equipment employed, can act as a restraint for the market.
Increase in Billing Revenue and Accuracy to Drive the Demand
Smart meters boost a utility’s ability to precisely and timely bill customers for the extent of gas used. The remote-read capability allows for smaller intervals between billing reads, better business preparation in understanding future revenue streams, or producing a continuous flow of capital. Smart meters have a significant role to play in reducing theft and safeguarding utility revenues, which acts as a driver. Moreover, in the case of smart gas meters, losses in most cases are accounted for theft and leakage. In addition, smart meters can also reduce labor costs and time, as the data provided on smart meters is two-way communicable, saving costs and time in the process.
The Residential Segment to have the Highest Share
Globally, many countries are compelled to implement various measures for the conservation of energy, owing to the rising scarcity of fossil fuels. Governments are forcing multiple end-use sectors, such as residential, to install gas meters, as the installation of gas meters aid in the reduction of the wastage of gas. To achieve this, many governments are imposing mandate regulations in the usage of smart gas meters across their regions. For instance, in 2017, the nationwide rollout in the United Kingdom of smart meters resulted in the installation of more than one million smart meters in six months. Moreover, introduction of next-generation smart meter for the residential sector in other developed countries, such as the United States and Germany, is expected to augment the smart gas meter market.
Increasing Demand in Asia-Pacific to Augment Market Growth
The market in China is rapidly shifting toward a commodity culture, and technological differences are limited. This, coupled with the increasing number of regional players, has increased the competition in the Chinese market substantially. While the preference for premium brands in industrial and commercial applications has allowed for some market share to the global players, lower price point and different specification requirements have majorly kept the competition away from these companies, as far as large-scale deployment in the residential sector is concerned. Moreover, Japan is expected to witness the most robust growth, although the rollout of smart gas meters planned by the Japanese government is expected to be delayed beyond the forecast period, which is scheduled to be completed by 2020.
Key Developments in the Market
- July 2017: Sagemcom announced the acquisition of Meter Italia SpA. Through this acquisition, Sagemcom aims to strengthen its positions in the multi-energy market.
- May 2017: Itron acquired the demand-response provider, Comverge, for USD 100 million. The deal would allow Itron, a leading provider of advanced metering and smart grid technologies, to enhance offerings around the integration of distributed energy resources for utilities.
- February 2017: At the Hannover Messe 2017, Aichi Tokei Denki displayed ultrasonic flow meters for compressor air: TRX and TRZ. They are designed to meet the recent potential needs of energy saving for industrial facilities around the world.
Reasons to Purchase this Report
- How the need for improvement in energy efficiency is changing market scenario
- Analyzing various perspectives on the market with the help of Porter’s five forces analysis
- The end user that is expected to dominate the market
- The regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Scope of the Study
1.2 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Market Analysis
3.1 Market Overview
3.2 Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Competitive Rivalry in the Industry
3.3 Industry Value Chain Analysis
4. Market Dynamics
4.2.1 Need for Improvement in Energy Efficiency
4.2.2 Increase in Billing Revenue and Accuracy
4.2.3 Rise in Smart City Development
4.3.1 High Costs and Security Concerns
4.3.2 Integration Difficulties with Smart Meters
5. Segmentation by Region
5.1 North America
5.1.1 United States
5.2.1 United Kingdom
5.3.3 South Korea
5.4 Latin America
5.5 Middle East & Africa
6. Segmentation, by End User
7. Competitive Intelligence - Key vendor Profiles
7.1 Landis + GYR Group AG
7.2 Wasion Group Holdings
7.3 Elster Group SE
7.4 Itron Inc.
7.5 Sensus USA Inc.
7.6 General Electric Company
7.7 Diehl Stiftung GmbH & Co. KG
7.8 Pietro Fiorentini
7.9 Apator SA
7.10 Yazaki Corporation
7.11 Aichi Tokei Denki
7.12 Meter Italia
7.14 Zenner International GmbH & Co. KG
*List not Exhaustive
8. Vendor Market Share Analysis
9. Future of the Market
- Landis + GYR Group AG
- Wasion Group Holdings
- Elster Group SE
- Itron Inc
- Sensus USA Inc
- General Electric Company
- Diehl Stiftung GmbH & Co. KG
- Pietro Fiorentini
- Apator SA
- Yazaki Corporation
- Aichi Tokei Denki
- Meter Italia
- Zenner International Gmbh & Co KG