Global Electric Sub Meter

Global Electric Sub Meter Market Research Report: Forecast (2022-2027)

By Product (Smart Sub-Meter, Electronic Sub-Meter (Non-Socket Type), Electromechanical Sub-Meter (Socket Type)), By Phase (Single Phase, Three Phase), By End-User Application (Industrial, Residential, Read more

  • Energy
  • Aug 2022
  • 195
  • EN33013

Market Definition

An Electric Sub-Meter is an electric device designed to record, measure, & monitor energy consumption, supporting various energy forms such as heat, water, electricity, or gas. The meter usually supports the single-phased environment, including indoor & outdoor. These meters gather real-time energy consumption information of the entire facility & equipment.

From here, the recorded information is conveyed to the utility meter for monitoring and transactional purposes, enabling synchronization between the control system & the meter. With such data acquisition & communication devices, information regarding energy loads is measured & communicated accordingly.

Market Insights

The Global Electric Sub Meter Market is projected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2022-27. The market is driven by the growing awareness among people about the availability of electrical sub-metering systems for quality monitoring & meticulous management, augmenting its deployment across residential & corporate locations.

Besides, with the capabilities of gathering & tracking real-time energy consumption while precisely monitoring & eliminating energy wastage, the installation of these meters is escalating swiftly. In addition, other facilities like detecting exact energy usage & preventing any critical issues by offering early maintenance allow users to minimize operational costs & improved energy management. These aspects are also backing the Electric Sub-Meters market across geographies.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2022-2027) 4.1%
Regions Covered North America: The US, Canada, Mexico
South America: Brazil, Argentina, Rest of South America
Europe: Germany, France, Italy, The UK, Spain, Rest of Europe
Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific
Middle East & Africa: UAE, Saudi Arabia, South Africa, Qatar, Rest of Middle East and Africa
Key Companies Profiled Bentec Electricals & Electronics Pvt. Ltd., General Electric, Genus Power Infrastructures Ltd., Hexing Electric Co. Ltd., Itron Inc., Kamstrup A/S, Leviton Manufacturing Co. Inc., Mitsubishi Electric Corporation, Osaki Electric Co. Ltd, Schneider Electric, Siemens AG, Xylem Inc., Others
Unit Denominations USD Million/Billion

 

Moreover, alongside the aforementioned benefits and wide application of these meters, the leading players shall witness the presence of lucrative opportunities to expand their product portfolio, visibility, and consumer base worldwide and lead the market toward substantial growth during the forecast period.

Furthermore, with the advent of the Internet of Things (IoT) in recreating age-old energy infrastructure, governments of different countries worldwide are keen to deploy sun meters in upcoming energy projects. Such aspects are piquing the interest of major players to bring innovations in the electric sub-meters & cater to the burgeoning demands.

Market Segmentation

By Product:

  • Smart Sub-Meter
  • Electronic Sub-Meter (Non-Socket Type)
  • Electromechanical Sub-Meter (Socket Type

Here, Smart Sub-Meters are anticipated to dominate the Global Electric Sub-Meter Market with the largest share during the forecast period. It owes principally to their unparalleled benefits like quick monitoring of the electric system, eliminating manual reading & data errors, supporting efficient power supply, and increasing transparency concerning usage & billing, among others.

It, in turn, is demonstrating a large-scale installation across the utility sector by numerous companies, instigating the leading players to increase their production & distribution capacities and cater to the burgeoning demands for smart sub-meters globally.

Moreover, regions like Asia-Pacific & South America exemplify a rising installation of these meters, owing to the growing focus on infrastructure developments, including smart grid setups. Hence, with such support from the governments of different countries, the demand for smart-sum meters is likely to hike and lead the market toward substantial growth in the coming years.

By End-User Application:

  • Industrial
  • Residential
  • Commercial

Among all, the Residential sector is anticipated to acquire the largest share of the Global Electric Sub-Meter Market and dominate through 2027. It owes principally to the growing awareness among people about the availability of these meters and their long list of benefits, offering cost & energy efficiency to users. Hence, the installation of electric sub-meter is elevating rapidly across the residential sector and fueling the overall market growth.

Besides, greater encouragement by the governments of different countries to deploy these meters for energy efficiency and minimal emission is also hiking the demand for sub-meters across the residential sector and stimulating the market through 2027. Moreover, as the industrial & commercial sectors are demonstrating a dip in the installation of these meters, the leading players are tapping opportunities across the residential sector to maximize their profit margins and leading the market toward expansion in the coming years.

Global Electric Sub Meter Market Research Report: Forecast (2022-2027)

Regional Landscape

Geographically, the Global Electric Sub-Meter Market expands across:

  • North America
  • South America                    
  • Europe
  • Middle East & Africa
  • Asia-Pacific

North America is anticipated to dominate the market with the largest share during the forecast period. This dominance attributes to the growing focus of the governments of different countries across the region on bringing greater energy efficiency and minimizing carbon emission, encouraging the deployment of Electric sub-meters for applications across the industrial, commercial, and residential sectors.

Besides, the presence & active participation of the leading players through expanding developments, production, and distribution capacities, are also contributing to the market expansion across North America. Moreover, as the region itself is known as an early adopter of new technologies, the installation of Electric sub-meters is widening and stimulating the overall market growth across North America through 2027. 

On the other hand, Asia-Pacific is anticipated to exemplify the fastest growth of the Global Electric Sub-Meter Market during the forecast period. The market growth attributes principally to the swift inclination of different countries in the region to bring electrification across various sectors in the country, demonstrating greater procurement for Electric sub-meters for energy management & efficiency.

The same aspect is also generating growth opportunities for the leading players to increase their production & distribution capacities and cater to the burgeoning demands across Asia-Pacific.

Recent Developments in the Global Electric Sub Meter Market

  • In 2020, leading player Schneider Electric introduced the Smart Electric sub-meters to provide power restoration within a minute of disturbance, intending to bring suitable techniques for distribution firms seeking assistance in fixing grid faults in Nigeria.
  • Recently, another leader, Kamstrup A/S, signed a partnership with Goteborg Energi to provide smart metering solutions in a bid to replace 275,000 electricity meters with smart electric meters using advanced Sweden technology.

Market Dynamics

  • Key Driver: Increasing Government Focus on Brining Energy Efficiency Across Sectors

As each industry is assuring to bring energy efficiency to regulate automation in different applications, the demand for Electric sub-meter is escalating rapidly. This preferential shift is also augmenting the popularity of the electric sub-meters over conventional alternatives, including Electric & electrochemical sub-meters.

Besides, with expanding applications in the power industry, the electric sub-meters are viewed as an excellent alternative to conventional devices that lacked such versatility in measuring, monitoring, & controlling energy. Such are the factors driving the Global Electric Sub-Meter Market through 2027. 

  • Possible Restraint: High Initial Installation Cost for Electric Sub-Meter Market

Since the initial cost associated with the installation of Electric Sub-Meters is high, it might restrain cost-sensitive consumers from deploying these meters and affect the market growth in the future. Moreover, inadequate awareness among people about the availability of such meters for energy efficiency & sustainability is also hindering the installation of electric sub-meter & might hamper the fledged market growth in the coming years. 

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Electric Sub Meter Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Electric Sub Meter Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Electric Sub Meter Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Electric Sub Meter Market study?

Frequently Asked Questions

A. The Global Electric Sub Meter Market is projected to grow at a CAGR of around 4.1% during 2022-27.

A. Government regulation & investment across the world encouraging the deployment of electric sub-meters from energy efficiency & sustainability is a prominent aspect driving the Global Electric Sub-Meter Market. However, the high cost associated with the installation of these meters is acting as a restraining factor for the fledged market growth.

A. Smart Sub-Meter is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Electric Sub Meter Market during the forecast period.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Impact of COVID-19 on Global Electric Sub-Meter Market
  5. Global Electric Sub-Meter Market Regulations & Policy
  6. Global Electric Sub-Meter Market Trends & Insights
  7. Global Electric Sub-Meter Market Dynamics
    1. Growth Drivers
    2. Challenges
  8. Global Electric Sub-Meter Market Hotspots & Opportunities
  9. Global Electric Sub-Meter Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Product
        1. Smart Sub-Meter
        2. Electronic Sub-Meter (Non-Socket Type)
        3. Electromechanical Sub-Meter (Socket Type)
      2. By Phase
        1. Single Phase
        2. Three Phase
      3. By End-User Application
        1. Industrial
        2. Residential
        3. Commercial
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      5. By Company
        1. Competition Characteristics
        2. Revenue Shares
  10. North America Electric Sub-Meter Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Product
      2. By Phase
      3. By End-User Application
      4. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Segmentation & Revenues Share
        1. By Product
        2. By End-User Application
    4. Canada Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    5. Mexico Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
  11. South America Electric Sub-Meter Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Product
      2. By Phase
      3. By End-User Application
      4. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    4. Argentina Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
  12. Europe Electric Sub-Meter Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Product
      2. By Phase
      3. By End-User Application
      4. By Country
        1. The UK
        2. Germany
        3. France
        4. Spain
        5. Italy
        6. Rest of Europe
    3. The UK Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    4. Germany Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    5. France Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    6. Spain Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    7. Italy Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
  13. Middle East & Africa Electric Sub-Meter Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Product
      2. By Phase
      3. By End-User Application
      4. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Qatar
        5. Rest of Middle East & Africa
    3. Saudi Arabia Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    4. UAE Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    5. South Africa Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    6. Qatar Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
  14. Asia Pacific Electric Sub-Meter Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Product
      2. By Phase
      3. By End-User Application
      4. By Country
        1. China
        2. India
        3. Japan
        4. Rest of Asia-Pacific
    3. China Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    4. India Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
    5. Japan Electric Sub-Meter Market Outlook, 2017-2027
      1. Market Size & Analysis
        1. By Revenues
      2. Market Share & Analysis
        1. By Product
        2. By End-User Application
  15. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Research & Development
      4. Strategic Alliances
      5. Strategic Initiatives
    2. Company Profiles (Business Description, Solutions Offered, Business Segments, Financials, Future Plans)
      1. Bentec Electricals & Electronics Pvt. Ltd.
      2. General Electric
      3. Genus Power Infrastructures Ltd.
      4. Hexing Electric Co. Ltd.
      5. Itron Inc.
      6. Kamstrup A/S
      7. Leviton Manufacturing Co. Inc.
      8. Mitsubishi Electric Corporation
      9. Osaki Electric Co. Ltd
      10. Schneider Electric
      11. Siemens AG
      12. Xylem Inc.
      13. Others
  16. Disclaimer
Electric Sub Meter Market Segmentation