Heat Meters Market

Market Study on Heat Meters Market – Demand for Sustainability and Management of Electric Power spurring growth of Heat Meters

Heat Meters Market Product Segmentation by Ultrasonic | Vortex

Heat Meters Market Snapshot (2022-2032)

The global heat meters market is likely to garner a market value of US$ 3.03 Billion in 2022 and is expected to accumulate a market value of US$ 4.61 Billion by registering a CAGR of 4.3% in the forecast period 2022-2032. Growth of the heat meters market can be attributed to substantial benefits including low commercial losses, energy theft detection, and enhanced revenue management. The market for heat meters registered a CAGR of 3.5% in the historical period 2016-2021

“Strong global electricity demand has led to grid strains, with new regulations and clean energy sources adding to the complexity. Smart energy meters are emerging as a definitive solution to these challenges. “

The popularity of smart meters has increased immensely. This can be attributed to their intelligent features integrated in the meter to allows customers to keep track of energy use and optimize consumption. This, in turn, is not only maximizing the use of smart heat meters but also saving electric power.

Attributes

Details

Heat Meters Market CAGR (2022-2032)

4.3%

Heat Meters Market Size (2022)

US$ 3.03 Billion

Heat Meters Market (2032)

US$ 4.61 Billion

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Companies

  • BMETERS
  • Diehl
  • Kamstrup
  • Siemens
  • Sontex
  • ista Energy Solutions
  • Apator
  • Secure Meters
  • Micronics
  • Zenner International
  • Axioma Metering
  • Danfoss

Which are Some Prominent Drivers of Heat Meters Market?

Increasing use of electricity maximizing the use of heat meters

Rising government initiatives to achieve climate goals and high spending to boost energy efficiency are some of the prominent trends in the heat meters market. Moreover, substantial developments in the end user sectors along with rapid urbanization across the globe has put tremendous pressure on saving electricity, thus, to keep a track on the same, use of heat meters has increased exponentially.

According to the IEA Sustainable Recovery Tracker’s Autumn 2021 update, energy efficiency-related investments represent nearly two-thirds of the USD 400 billion per year mobilized by governments with recovery measures in the next 3 years. This strong focus on sustainability will bolster the smart energy meter demand and expedite the heat meters industry development.

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What are the Prevailing Opportunities in the Heat Meters Market?

Smart Metering Unit Demand will favour Static Technology Heat Meters

The rising popularity of efficient and sustainable heat management systems offering real-time data monitoring will drive the demand for static heat meters. The static heat meters market size was valued at over US$ 3 Billion in 2021, attributable to its substantial usage benefits including accurate data measurement and flexible and reliable operations.

This technology also ensures lower energy consumption, stable operation, and automated billing technologies. The high preference for smart meters among consumers will stimulate demand for static heat meter technology.

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How has COVID-19 Impacted the Growth of the Heat Meters Market?

The COVID-19 disruption has been a key factor resulting in the slowdown of progress towards universal energy access. According to the UN’s Tracking SDG 7: The Energy Progress Report’s 2022 edition, 733 Billion global people still have no access to electricity.

However, the gradual recovery from the crisis and the accelerated usage of renewable energy sources, among other factors, are generating access to sustainable and modern energy systems. These factors could stimulate the installation of smart metering systems and consequently foster global heat meters industry development.

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What are the Factors Hampering the Global Heat Meters Market?

Risks of Data Loss may hinder the Heat Meters Market Development

Data infringement is one of the major concerns pertaining to heat meter usage. Significant implications from cyber threats are associated with these meters. Breaches or data theft can allow attackers to gain access to sensitive personal data regarding users. As a result, the industry may witness roadblocks, mainly due to the risks of fraud subject to security vulnerability and growing privacy concerns among heat meters consumers.

Comparative View of Heat Meters Market

Attributes

Heat Meters Market

CAGR (2022-2032)

4.3%

Market Value (2032)

US$ 4.61 Billion

Growth Factor

Increasing concerns regarding climate change along with shortage of electric power is expected to drive the market in the forecast period.

Opportunity

Integration of smart technologies along with tech-savvy features is expected to offer lucrative opportunities to the market.

Comparative View of Automobile Meters Market

Attributes

Automobile Meters Market

CAGR (2022-2032)

5.9%

Market Value (2032)

US$ 9.5 Billion

Growth Factor

Continued use of automotive vehicles and its subsequent production is projected to drive the automobile meters market

Opportunity

New product developments and increasing cope of end-use applications such as hour cum RPM meters is also expected to provide growth to the global automobile meters are expected to offer lucrative opportunities to the market.

Comparative View of Flow Meters Market

Attributes

Flow Meters Market

CAGR (2022-2032)

7%

Market Value (2032)

US$ 13 Billion

Growth Factor

Increasing use of flow meters in oil and gas industries is expected to drive the growth of the market in the forecast period.

Opportunity

Wide range of application, functionality, and accuracy along with increasing capacity expansion is anticipated to offer significant contribution to flow meters market.

Category-Wise Insights

Investments in Efficient Heat Meters by Government Authorities Favoring Installation in Residential Sector?

Rapid urbanization and industrialization to push the commercial segment

By application, the heat meters market is segmented into commercial, residential and industrial. Amongst these, the commercial segment is expected to amass considerable profits and possess a maximum market share by the end of 2032.

This is owing to the rapid urbanization and industrialization across the globe. Furthermore, government bodies are increasingly making investments in efficient heat meters to reduce greenhouse gas emissions. Thus, residential sector is expected to possess 45% market share for heat meters market.

On the other hand, alongside the increased adoption of individualized billing systems and energy consumption optimization are expected to strengthen the demand for heat meters in the commercial sector.

High Accuracy of Ultrasonic Heat Meters Making them a Viable Choice?

Smart Technologies making Ultrasonic Heat Meters a highly sought-after alternative by End Users

Smart technologies and energy-efficient systems are gaining widespread adoption. There has also been rapid development in sustainable and advanced heating infrastructure to cater to heat metering systems.

Ultrasonic heat meters can ensure high accuracy, low energy consumption, and dirt resistance. With the growing consumer inclination towards advanced heating equipment that can accommodate the burgeoning need for real-time heat consumption monitoring, the popularity of ultrasonic meters will rise considerably. The ultrasonic segment is expected to register considerable revenue in 2022 and is expected to depict a growth rate of nearly 4.5% through 2032.

Which are the Key Regions in the Heat Meters Market?

Regions

CAGR

United States

4%

Canada

2.5%

China

4%

Japan

3%

India

3.5%

Regional Insights

Government Initiatives Spurring the Adoption of Heat Meters in Asia Pacific?

Rising demand for district heating in APAC Region propelling market growth

Asia Pacific is expanding a major upsurge in demand for district heating services. This is owing to the favorable government initiatives such as incentives and subsidies to boost the adoption of automated and advanced heating systems are also being introduced.

Driven by increasing government support, alongside growing investments in heating infrastructure developments, the Asia Pacific will emerge as a key hub for heat meters manufacturers. The Asia Pacific heat meters market is poised to register a growth rate of 2.5% through 2032.

Technological Advancements Shaping the Landscape for Heat Meters in North America?

Tech-savvy features creating lucrative opportunities for heat meters in North America

North America accounted for successive highest stake primarily due to availability of latest products, high requirement for energy monitoring, and developed construction sector. In addition, high demand from countries like U.S. and Canada are positively influencing the demand for heat meters market.

Furthermore, technological advancements in the field of heat meters have opened doors of opportunities for heat meters markets. Regional and international players in North America are integration tech-savvy features to increase the adoption of the same in the region. Thus, North America is expected to possess 40% market share for heat meters in 2022.

Market Competition

Business Footprint Expansion Strategies to shape the Global Industry Landscape

The prominent companies partaking in the global heat meters market share include BMETERS, Diehl, Kamstrup, Siemens, Sontex, ista Energy Solutions, Apator, Secure Meters, Micronics, Zenner International, Landis+Gyr, Axioma Metering, and Danfoss, among others. These firms are adopting strategies such as partnerships, joint ventures, and product line expansions to enhance their presence in the global market.

  • In April 2022, Kamstrup acquired the ownership of the Danish company Thvilum A/S. Through this acquisition, the company is planning to expand its product portfolio and achieve its sustainability goals. Thus, the company will be venturing into manufacturing heat meters.
  • In June 2022, Siemens presented a completely renewed portfolio to accelerate decarbonization of commercial, industrial and residential buildings by the integrating the use of heat meters.

Report Scope

Attributes

Details

Forecast Period

2022-2032

Historical Data Available For

2015-2021

Market Analysis

US$ Mn for Value

Key Countries Covered

  • U.S.
  • Canada
  • Mexico
  • Brazil
  • Germany
  • Italy
  • France
  • U.K.
  • BENELUX
  • Nordics
  • China
  • Japan
  • South Korea
  • GCC Countries
  • South Africa
  • Turkey

By Market Segments

  • Product
  • Technology
  • Application
  • Region

Key Companies Profiled

  • BMETERS
  • Diehl
  • Kamstrup
  • Siemens
  • Sontex
  • ista Energy Solutions
  • Apator,
  • Secure Meters
  • Micronics
  • Zenner International
  • Landis+Gyr
  • Axioma Metering
  • Danfoss

Pricing

Available Upon Request

Key Segments Profiled in the Heat Meters Industry Survey

Heat Meters by Product

  • Ultrasonic
  • Vortex
  • Others

Heat Meters by Technology

  • Mechanical
  • Static

Heat Meters by Application

  • Residential
  • Commercial
  • Industrial

Heat Meters Market by Region

  • North America Heat Meters Market
  • Latin America Heat Meters Market
  • Europe Heat Meters Market
  • Asia Pacific Heat Meters Market
  • Middle East & Africa Heat Meters Market

- FAQs -

The global heat meters market is estimated at a 4.3% growth rate during the forecast period of 2022-2032

The global heat meters market is expected to garner US$ 4.61 Billion by 2032

U.S. is projected to register a CAGR of 4% for heat meters market in the forecast period 2022-2032.

India is expected to register a CAGR of 3.5% for heat meters market in the forecast period 2022-2032.

The Global heat meters market was estimated at US$ 2.9 Billion in 2021

Ultrasonic heat meters are expected to register considerable revenue in 2022 and is expected to depict a growth rate of nearly 4.5% through 2032.

Residential sector is expected to possess 45% market share for heat meters market.

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