Gas Meter Market

Gas Meter Market Size, Share, Growth Analysis, By Product Type (Smart, Traditional), By Application (Utility Companies, Manufacturers), By End Use (Residential, Commercial), By Region -Industry Forecast 2024-2031

Report ID: SQMIG25G2014 | Region: Global | Published Date: October, 2024
Pages: 156 | Tables: 62 | Figures: 70

Gas Meter Market News

  • In April 2024, the joint venture between Genesis Gas Solutions Pvt Ltd, known as GGSPL, and Indraprastha Gas Ltd-IGL, Vikas Lifecare Ltd (VLL), will invest around USD 1 million in constructing a gas meter manufacturing factory in Noida, India. This investment would allow the company to raise its market share toward its objective of producing one million meters of gas annually.
  • In January 2024, an agreement was signed between Itron and the Sevier County utility district to deploy Itron's AMI necessary for gas, including 30,000 Itron Cellular 800G gas models. This deployment will improve the utility district gas operations and meter readings of Sevier County, making its gas distribution infrastructure more visible.
  • In November 2023, Honeywell Inc. in the Netherlands, presented a 100% capable hydrogen diaphragm EI5 Gas Meter. This action has been done to support the region's goals under the European Green Deal. The new gas meter will be able to measure both hydrogen and natural gas. The meter requires less maintenance and does not need any replacement in the future.
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Global Gas Meter Market size was valued at USD 3.79 Billion in 2023 and is poised to grow from USD 3.96 Billion in 2024 to USD 5.43 Billion by 2031, growing at a CAGR of 4.6% in the forecast period (2024-2031).

Itron, Honeywell International Incorporation, Xylem Incorporation, Apator SA, Diehl Stiftung & Co.KG, and ABB Limited are some of the key players in the gas meter market. In the year 2023, these companies together have held around a 5–10% share in the market. The market consists of many industrial business companies from both domestic and foreign markets. Advanced Metering Infrastructure (AMI) is one of the key offerings of most of these companies, wherein remote data collection and analysis would be enabled. The market serves the needs of innovation for gas meters and provides satisfaction to various needs within the industry. 'Itron Inc.', 'Honeywell International Inc.', 'CGI', 'ABB', 'Apator SA', 'Aclara Technologies LLC', 'EDMI Limited', 'General Electric', 'Diehi Stiftung & Co. KG', 'Sensus Worldwide Holdings Limited', 'ZENNER', 'AKG Acoustics', 'Badger Meter', 'Schneider Electric SE', 'Xylem Inc.'

Increasing Adoption of Smart Gas Meters

Combination of Cloud and IoT Technologies

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.

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Gas Meter Market

Report ID: SQMIG25G2014

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