Gas Meter Market Size, Share, Growth Analysis, By Type (Basic Gas Meter, Smart Gas Meter), By Application (Residential, Commercial), By Region - Industry Forecast 2024-2031

North America, with the largest share of about 35.39%, dominated the global gas meter market in 2023. The region's governments are involved in implementing plans and policies for the penetration of smart gas meters. The incentives, legislation, and energy efficiency goals at the national level are all part of it. For instance, the United States encourages utilities to develop plans for the wide diffusion of smart meters to reach ambitious environmental objectives along with improved grid management. In addition, the trend is encouraged by government programs for sustainability and efficiency in energy use; the advent of smart metering technologies enables real-time monitoring and optimization. These changes are driven by the necessity for minimizing losses upon transmission and distribution of gas.

Due to the national and EU legislation targeted at a reduction of carbon emissions and increased energy efficiency, Europe is expected to lead the market. The Third Energy Package of the European Union mandated the installation of smart meters for gas and electricity, which led to its high usage among the member states. The legal framework has clearly mandated utilities to invest in smart grid and smart technology. Growth in the UK gas meter market is expected to be witnessed during the forecast period. Smart gas meters are largely dependent on smart grid infrastructure development in the UK. Smart gas meters facilitate demand response programs, grid optimization, and integration with renewable sources. The UK government's initiatives to promote a low-carbon economy create further opportunities for the deployment of smart meters as part of sustainable energy practices. It is estimated that, between 2024 and 2030, the gas meter market is expected to witness growth in Germany. The country of Germany has hugely invested in both solar and wind energies.