USD 830 million
Europe Heat Meter Market Size, Share, Growth Analysis, By Product(Ultrasonic, Vortex, and Others), By Application(Residential, Commercial, and Industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR55E2043 |
Region:
Regional |
Published Date: April, 2024
Pages:
157
|Tables:
63
|Figures:
70
Europe Heat Meter Market Insights
Europe Heat Meter Market size was valued at USD 830 million in 2021 and is poised to grow from USD 871.50 million in 2022 to USD 1287.60 million by 2030, growing at a CAGR of 5% in the forecast period (2023-2030).
The Europe heat meter market is experiencing substantial growth as a result of increasing adoption of energy-efficient technologies and the growing emphasis on sustainable energy management. Heat meters play a pivotal role in measuring and optimizing energy consumption in various heating systems, including residential, commercial, and industrial setups. The market's expansion is driven by stringent regulations and policies encouraging energy efficiency and carbon reduction in the region.
Countries within Europe, known for their commitment to environmental sustainability, are actively promoting the deployment of heat meters as a means to monitor and manage energy consumption. The market is segmented based on type, technology, connectivity, and application. Ultrasonic and mechanical heat meters are among the key types being utilized.
As governments and regulatory bodies set ambitious targets for reducing carbon emissions, the demand for heat meters is set to surge further. These devices enable accurate measurement and billing, incentivizing end-users to optimize energy consumption. Additionally, the rising adoption of district heating systems across Europe further fuels the demand for heat meters, allowing precise allocation and billing of heat usage in connected networks.
The ongoing transition toward renewable energy sources and the need to curb energy wastage are driving the Europe heat meter market. With energy efficiency becoming a critical aspect of sustainable development, the heat meter industry is poised for continuous growth as it contributes to achieving energy-saving goals and promoting a greener future.
Europe Heat Meter Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Ultrasonic
Fastest Growth
Ultrasonic
Growth Rate
5% CAGR
Global Europe Heat Meter Market ($ Bn)
Country Share for Europe Region (%)
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Europe Heat Meter Market Segmental Analysis
The Europe Heat Meters Market is segmented on the basis of Product, Technology, Application, and Region. Based on Product the market is segmented as, Ultrasonic, Vortex, Others. Based on Technology the market is segmented as, Mechanical, And Static. Based on Application the market is segmented as, Residential, Commercial, and Industrial.
Europe Heat Meter Market Analysis By Product
The ultrasonic heat meters market in Europe is projected to experience significant traction until 2030, driven by the escalating requirement for efficient and dependable heat measurement methods, alongside the robust expansion of the industrial sector. These meters offer elevated levels of data precision, ensuring minimal energy wastage, while also providing long-term stability, durability, and resistance to contaminants. Moreover, the adoption of these meters is expected to receive a boost due to challenging working conditions prevailing in industrial settings within frost-prone regions linked to the Arctic.
Europe Heat Meter Market Analysis By Application
The residential application segment is set to undergo substantial expansion until 2030, driven by the continuous growth of residential infrastructure and the increasing need for thermal solutions. The escalating demand for personalized individual billing, coupled with the installation of district heating systems in multi-story buildings, will contribute to the segment's favorable growth trajectory. Moreover, the presence of favorable regulatory guidelines promoting the adoption of environmentally sustainable heat networks, along with the flourishing real estate sector, will further propel the market's dimensions. This confluence of factors underscores the dynamic dynamics shaping the residential segment and positions it for significant growth within the specified timeframe.
Global Europe heat meter market By Product
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Europe Heat Meter Market Regional Insights
The heat meters market revenue in Sweden is anticipated to experience a highly promising growth trajectory from 2023 to 2030. This trajectory will be driven by several factors, including advantageous financial incentives and schemes introduced by the government, coupled with the robust expansion of industrial and commercial establishments. The growing inclination of consumers towards intelligent heat metering units, combined with the increasing uptake of renewable energy sources, is poised to amplify the demand for such meters.
A noteworthy example of this trend is the significant share of energy generation from renewable sources in Sweden. In 2020, more than 54% of the nation's energy was derived from renewables. This upward trajectory aligns with Sweden's ambitious objective to achieve 100% clean energy production by 2040, signifying a substantial commitment towards sustainable practices and energy efficiency. These dynamics underscore the compelling factors driving the heat meters market in Sweden, positioning it for significant growth during the specified timeframe.
Global Europe heat meter market By Geography
- Largest
- Fastest
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Europe Heat Meter Market Dynamics
Europe Heat Meter Market Drivers
Energy Efficiency Initiatives:
- Stringent regulations and environmental concerns are driving the adoption of energy-efficient technologies, including heat meters, to monitor and optimize energy consumption, thereby reducing carbon emissions.
Rising Demand for Sustainable Energy:
- The increasing emphasis on renewable energy sources aligns with the deployment of heat meters to measure energy usage accurately. The transition towards sustainable energy sources like biomass and district heating drives the demand for heat meters.
Europe Heat Meter Market Restraints
Lack of Awareness:
- Limited awareness among end-users about the benefits and functioning of heat meters may hinder their adoption, particularly in regions where education about energy efficiency is lacking.
Data Privacy Concerns:
- Gathering energy consumption data through heat meters raises data privacy and security concerns, which could impact consumer willingness to adopt the technology.
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Europe Heat Meter Market Competitive Landscape
The competitive landscape of the Europe heat meter market is marked by the presence of a diverse array of players aiming to capitalize on the growing demand for energy-efficient solutions. Established companies such as Kamstrup A/S, Danfoss Group, and Landis+Gyr AG hold prominent positions, leveraging their extensive industry experience and technological expertise. These players are continuously innovating and offering a wide range of heat metering solutions that cater to various segments, including residential, commercial, and industrial applications. Collaborations, partnerships, and strategic acquisitions are strategies being employed by key companies to enhance their market presence and expand their product portfolios.
Europe Heat Meter Market Top Player’s Company Profile
- Kamstrup A/S
- Danfoss Group
- Landis+Gyr AG
- Ista International GmbH
- Siemens AG
- Diehl Stiftung & Co. KG
- Sensus Metering Systems GmbH
- ENGIE SA
- Techem GmbH
- Qundis GmbH
- Sontex SA
- IDEX Corporation
- Zenner International GmbH & Co. KG
- Plouvier Group
- Sappel S.A.
Europe Heat Meter Market Recent Developments
- In January 2023, the European Commission proposed a new regulation that would require all new buildings in the EU to be equipped with smart heat meters by 2027. This is expected to boost the demand for heat meters in the region by an estimated EUR 2.5 billion per year.
- In February 2023, the German government announced a plan to invest EUR 100 billion in district heating systems over the next decade. This is expected to create demand for an additional 10 million heat meters in Germany.
- In March 2023, the Swedish company Kamstrup launched a new smart heat meter that uses blockchain technology to provide more accurate and secure data. This is the first heat meter to use blockchain technology, and it is expected to be a major breakthrough in the industry.
Europe Heat Meter Key Market Trends
- Rise in Renewable Energy Adoption: The increasing focus on sustainable and renewable energy sources, such as district heating systems, biomass, and geothermal, is driving the demand for heat meters. These meters are crucial for accurately measuring energy consumption and optimizing efficiency in these energy systems.
Europe Heat Meter Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Europe heat meter market analysis; The Europe heat meter market is witnessing robust growth driven by factors such as increasing adoption of renewable energy sources, stringent energy efficiency regulations, and technological advancements. Countries like Germany, Sweden, and the UK are at the forefront due to their strong focus on sustainability. The market is segmented by type, technology, connectivity, and application, with residential, commercial, and industrial segments prominently utilizing heat meters. Rising urbanization, district heating systems, and demand for energy-efficient solutions are propelling the market. The integration of smart technologies, such as IoT, is enhancing meter accuracy and remote monitoring. As Europe strives to achieve carbon reduction targets and enhance energy efficiency, the heat meter market is poised for sustained expansion across various sectors, contributing to a greener and more sustainable energy landscape.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 830 million |
| Market size value in 2030 | USD 1287.60 million |
| Growth Rate | 5% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Europe Heat Meter Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Europe Heat Meter Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Europe Heat Meter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Europe Heat Meter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Europe Heat Meter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Europe Heat Meter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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