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EL Panel Meter Market Segmented By type that is Analogue EL panel meters and Digital EL panel meters used in Generator sets, Control panels, Energy management, Building management, Distribution systems.
EL panel meters are used to measure energy consumption in homes and buildings and other facilities. Measure process is done by either metering the whole panel at source or the individual circuits could be measured for accurate results, which is termed as branch circuit monitoring.
EL panel meters offer a wide variety of features such as data logging, time-of-use, internal memory, etc. as the EL panel meters have communication options this allows the collection of data remotely in turn this offers, convenient access to an array of energy reading remotely and power and provides a detailed reporting.
The EL panel meters are used to read energy consumed in three major applications domestic, commercial and industrial. EL panel meters for commercial facility is imperative in understanding the energy needs of a building and the occupants, EL panel meters provides data to building managers and others such as kWh usage, data logging, quality of power and the time of use.
The industrial facilities require EL panel meters which are accurate and reliable in metering technology. EL panel meters in industries provides valuable power of quality data.as EL panel meters provide multiple functionality the original equipment manufacturers could take advantage of EL panel metering technology to incorporate new features or layers of functionality in the EL panel meters.
Government policies and fiscal incentives are the major driver of the global EL panel meter market. The factors like energy independence, security, safety, carbon reduction, efficiency, energy management, lower energy cost are the key factors driving the global EL panel meter market.
Several government policies such as restructured accelerated power development and reform program and the central electricity authority guidelines have paved the way for EL panel metering, CEA regulations and Bureau of Indian standards have been promoting energy metering to educate the consumers about the energy metering such as EL panel meters and their importance.
However technological gaps, lack of standard specification, low product quality, supply-demand gaps, and lack of awareness, power pilferage and unhealthy completions are several challenges that restrain the global EL panel meter market.
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Global EL panel meter is widely used by industrial and commercial and due to government initiatives the EL panel meters will be used widely in domestic areas in the forecast years.
Based on the geographies, the global EL panel meter market is fragmented into seven key regions- Latin America, North America, Eastern Europe, Western Europe, Middle East & Africa Asia-Pacific except Japan, Japan. Among the regions mentioned above Asia-Pacific except Japan has the highest CAGR compared to other developed markets.
Followed by North America and Western Europe. Overall the global EL panel meter market are expected to witness the positive growth with increased use of EL panel meter in domestic area of application over the next forecasted year.
Some of the market players identified in the global EL panel meter market include: