Market Research Report

Global Smart Gas Meter Market Research Report: Forecast (2024-2030)

Smart Gas Meter Market Report - By Technology (Automated Meter Reading, Advanced Metering Infrastructure, Standard Meters), By End User (Residential, Municipal, Commercial, Industr...ial), and Other Read more

  • Energy
  • Jan 2024
  • 190
  • EN55004

Market Definition

A smart gas meter is a modernized version of the traditional gas meter used to measure the consumption of natural gas in homes & businesses. These meters, compared to traditional meters, are equipped with technology that allows them to automatically record & transmit gas usage data. Wireless communication technology, such as cellular networks or low-power wide-area networks (LPWAN), is frequently used by these meters to send real-time or periodic consumption data to utility companies.

Market Insights & Analysis: Global Smart Gas Meter Market (2024-30):

The Global Smart Gas Meter Market size is expected to be valued at around USD 6.5 billion in 2023 and is estimated to grow at a CAGR of about 6% during the forecast period, i.e., 2024-30. The surge in global natural gas demand, coupled with growing end-user interest in detailed data, is the key aspect contributing to market expansion. Wide-scale adoption of smart gas meters significantly enhances grid and distribution operations by enabling seamless communication among different smart meters. With these meters integrated into gas heating systems, there's a tangible reduction in fuel consumption, indirectly fostering the development of a fully automated grid system. These advancements are projected to expedite the rollout of smart gas meters.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR(2024-30) 6%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, The UK, France, Russia + CIS, Spain, Rest of Europe
Asia-Pacific: China, India, Japan, Australia
South America: Brazil, Argentina
Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Egypt, Algeria
Key Companies Profiled Itron, Elster, Pietro Fiorentini, Landis+Gyr, AEM, Meter Italia, Flonidan, Yazaki, Secure, Aichi Tokei Denki and Other
Unit Denominations 6.5 Billion in 2023

 

Furthermore, the advent of cutting-edge IoT-optimized 5G technology is expected to drive a shift from older RF platforms to emerging standards like NB-IoT in the realm of smart gas meters. Leading companies such as ITRON and Sensirion are introducing next-gen gas meters like the SGM6200 series, offering competitive pricing & ultra-low power consumption, seizing this opportunity. Besides, smart gas meters bolster operational security while cutting costs for gas companies, a pivotal factor driving industry growth. Their functional advantages, including the elimination of manual monthly readings, continuous pipeline monitoring, and access to real-time data, contribute to their adoption.

Moreover, these meters empower gas utility providers to set higher safety standards by leveraging prioritized alarms and real-time data. Further, favorable government policies, robust communication network infrastructure, and significant advancements in advanced metering infrastructure are key drivers enhancing the Smart Gas Meter Market share. Utilities are actively embracing these solutions due to their numerous benefits. Robust development and demand for advanced metering infrastructure significantly bolster market expansion.


Global Smart Gas Meter Market Research Report: Forecast (2024-2030)

Also, utility companies are keen on expanding the deployment of smart gas meters through large-scale installations. Hence, the market's diverse advantages, such as automated meter reading and billing, are expected to fuel growth in the smart gas meter industry in the foreseeable future.

Global Smart Gas Meter Market Driver:

Shift Towards Clean Energy to Supplement Smart Gas Meter Deployment – The growing preference for cleaner energy sources has led to heightened natural gas demand across diverse end-user sectors. This increased demand, supported by governmental initiatives to bolster gas utilization, has been a driving force behind the Smart Gas Meter Market's expansion.

Moreover, as per a Smart Energy GB survey on energy consumption in the UK, 86% of households equipped with smart meters have significantly adjusted their energy-saving habits. These behavioral shifts in energy consumption play a pivotal role in reducing energy emissions, thereby fostering growth in the market. Consequently, numerous suppliers are now advocating smart meter installations, often coupled with tailored tariff plans for residential usage, instigating market growth.

Global Smart Gas Meter Market Opportunity:

Growing Focus on Smart Grid Projects & Gas Network Modernization – Smart grids revolutionize gas networks by furnishing utilities and consumers with crucial insights for efficient gas utilization. Global energy providers are increasingly investing in these technologies, enabling automatic gas consumption monitoring, innovative business models, and improved response times during natural disasters. At the user level, smart grids facilitate demand flexibility and consumer engagement through distributed energy resources. Smart meters serve as the foundational component of these grids, empowering utilities to offer reliable energy and tailored efficiency solutions.

Moreover, the utility sectors are implementing a customer web portal and home energy reports, using behavioral science to encourage energy conservation. With new customer care and billing systems in place, along with a meter data management system (MDMS), optimal utilization of these technologies presents a lucrative opportunity for the Smart Gas Meter Market.

Global Smart Gas Meter Market Challenge:

Push Back in ROI Due to Intricate Nature of Device Integration to Affect Market Growth – Several global smart gas meter projects are experiencing delays or cancellations due to the significant upfront investment required, posing a risk to both utilities & consumers. The high installation and operational costs, combined with most countries' lack of subsidies & mandates, make funding a significant challenge.

Moreover, deployment is dependent on utility plans, which complicates integration as customer numbers grow, causing project delays. Even in mature markets such as Italy and Sweden, utilities are introducing smart meters in stages to ensure profitability. Due to a lack of consumer acceptance, the timeline for implementing new-generation smart gas meters in these countries may be extended until 2030. Thus, companies are hesitant to install smart meters owing to the extended return on investment timelines, further hindering the Smart Gas Meter Market.

Global Smart Gas Meter Market (2024-30): Segmentation Analysis

The Global Smart Gas Meter Market study by MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the global, regional, and national levels. In accordance to the analysis, the market has been further classified as:

Based on Technology:

  • Automated Meter Reading (AMR)
  • Advanced Metering Infrastructure (AMI)
  • Standard (non-AMR/AMI) Meters

During the forecast period, the Automated Metering Infrastructure (AMI) segment is expected to be the fastest-growing sector within the Smart Gas Meter Market. AMI technology has proven to be economically beneficial for utilities and gas companies, reducing equipment expenses and maintenance costs while allowing for faster service restoration during outages. Customers benefit as well because AMI detects meter malfunctions, improving billing accuracy. As a result, the growing global demand for these AMI-based meters has a significant impact on the overall market share.

Global Smart Gas Meter Market (2024-30): Regional Projection

Geographically, the Global Smart Gas Meter Market expands across:

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

Europe dominates the Smart Gas Meter Market, with the UK leading among European nations due to robust government initiatives supporting widespread energy meter deployment. According to the National Audit Office (NAO), the Department of Energy and Industrial Policy is in charge of the country's comprehensive rollout strategy. The UK is on track to complete the smart meter installation process, leveraging its high population density & strong connectivity for favorable cost-benefit analyses, which will support market growth. The region's utility sector embraces advanced technologies, with increased investments in smart grids poised to drive smart gas meter adoption even further.

Moreover, the rising greenhouse gas emissions from residential & commercial buildings drive demand for smart gas meters, which improve gas flow efficiency. Furthermore, advancements in the installation of gas meters for larger gas supplies, which allow customers with higher gas volume needs (over 16 cubic meters per hour) in large residential or commercial spaces to transition to smart meters, contribute significantly to the growth of the Europe Smart Gas Meter Market.

Global Smart Gas Meter Industry Recent Development:

  • 2022: Itron Inc. declared a partnership with Sevier County Utility District (SCUD) to deploy Itron's AMI Essentials for Gas, which includes 15,000 Itron Cellular 500G Gas Modules and Temetra, the company's next-generation meter data collection and management solution.

Gain a Competitive Edge with Our Global Smart Gas Meter Market Report

  • Global Smart Gas Meter Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • Global Smart Gas Meter Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Global Smart Gas Meter Market is expected to grow at a compound annual growth rate (CAGR) of 6% from 2024 to 2030.

   A. The shift towards clean energy to supplement smart gas meter deployment during 2023-30.

   A. Itron, Elster, Pietro Fiorentini, Landis+Gyr, AEM, Meter Italia, Flonidan, Yazaki, Secure, Aichi Tokei Denki, and others, are the top companies in the Global Smart Gas Meter Market.

   A. Advanced Metering Infrastructure (AMI) technology held the largest share of the Global Smart Gas Meter Market.

   A. Europe would present growth prospects in the Global Smart Gas Meter Market during 2024-30.

   A. The growing focus on smart grid projects & gas network modernization to open new avenues for the Global Smart Gas Meter Market.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Executive Summary
  3. Expert Verbatim- What our Experts Say?
  4. Global Smart Gas Meter Market Outlook, 2019-2030F
    1. Market Potential & Outlook
      1. Units Sold
      2. Market Revenues
    2. Market Segmentation & Outlook
      1. By Technology
        1. Automated Meter Reading (AMR)
        2. Advanced Metering Infrastructure (AMI)
        3. Standard (non-AMR/AMI) Meters
      2. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East and Africa
        5. Asia Pacific
      3. By Component
        1. Hardware
        2. Software
      4. By End User
        1. Municipal
        2. Commercial
        3. Industrial
        4. Residential
      5. By Competitors
        1. Competitor Wise Revenue Share
        2. Strategic Factorial Indexing
        3. Competitor Placement on MarkNtel Quadrant
  5. Global Smart Gas Meter Market Attractiveness Index, 2019- 2025F
    1. By Technology
    2. By End Users
    3. By Region
  6. North America Smart Gas Meter Market Outlook, 2019-2030F
    1. Market Potential & Outlook
      1. Units Sold
      2. Market Revenues
    2. Market Segmentation & Outlook
      1. By Technology
      2. By Country
        1. USA
        2. Canada
        3. Mexico
      3. By End User
    3. The United States Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
    4. Canada Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
    5. Mexico Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
  7. South America Smart Gas Meter Market Outlook, 2019-2030F
    1. Market Potential & Outlook
      1. Units Sold
      2. Market Revenues
    2. Market Segmentation & Outlook
      1. By Technology
      2. By Country
        1. Brazil
        2. Argentina
        3. Others
      3. By End User
    3. Brazil Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
  8. Europe Smart Gas Meter Market Outlook, 2019-2030F
    1. Market Potential & Outlook
      1. Units Sold
      2. Market Revenues
    2. Market Segmentation & Outlook
      1. By Technology
      2. By Country
        1. UK
        2. Germany
        3. France
        4. Spain
        5. Russia + CIS
        6. Others
      3. By End User
    3. Germany Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
    4. France Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
    5. The UK Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
  9. Middle East Smart Gas Meter Market Outlook, 2019-2030F
    1. Market Potential & Outlook
      1. Units Sold
      2. Market Revenues
    2. Market Segmentation & Outlook
      1. By Technology
      2. By Country
        1. Saudi Arabia
        2. UAE
        3. Qatar
        4. Others
      3. By End User
    3. Saudi Arabia Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
    4. UAE Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
  10. Africa Smart Gas Meter Market Outlook, 2019-2030F
    1. Market Potential & Outlook
      1. Units Sold
      2. Market Revenues
    2. Market Segmentation & Outlook
      1. By Technology
      2. By Country
        1. South Africa
        2. Egypt
        3. Algeria
        4. Others
      3. By End User
    3. South Africa Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
  11. Asia Pacific Smart Gas Meter Market Outlook, 2019-2030F
    1. Market Potential & Outlook
      1. Units Sold
      2. Market Revenues
    2. Market Segmentation & Outlook
      1. By Technology
      2. By Country
        1. China
        2. India
        3. Australia
        4. Japan
        5. Others
      3. By End User
    3. China Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
    4. Japan Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
    5. India Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
          1. By End User
    6. Australia Smart Gas Meter Market Outlook, 2019-2030F
      1. Market Potential & Outlook
        1. Units Sold
        2. Market Revenues
      2. Market Segmentation & Outlook
        1. By Technology
        2. By End User
  12. Global Smart Gas Meter Market Trends & Developments
  13. Global Smart Gas Meter Market Dynamics
    1. Impact Analysis
    2. Drivers
    3. Challenges
  14. Global Smart Gas Meter Market Winning Strategies, 2023
    1. Investment Scenario
    2. Hotspots
  15. Global Smart Gas Meter Market Porter’s Five Forces Analysis
  16. Global Smart Gas Meter Market Key Success Imperatives for Growth & Success
  17. Competitive Benchmarking
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
    2. Company Profiles (Business Description, Product Offering, Strategic Alliances or Partnerships, etc.)
      1. Itron
      2. Elster
      3. Pietro Fiorentini
      4. Landis+Gyr
      5. AEM
      6. Meter Italia
      7. Flonidan
      8. Yazaki
      9. Secure
      10. Aichi Tokei Denki
  18. Disclaimer


Global Smart Gas Meter Market Segmentation