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

Global Gas Meter Market size was valued at USD 3.4 billion in 2022 and is poised to grow from USD 3.56 billion in 2023 to USD 5.14 billion by 2031, growing at a CAGR of 4.70% during 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. 'Siemens AG (Germany) ', 'Badger Meter, Inc. (US) ', 'KROHNE Group (Germany) ', 'Schneider Electric (France) ', 'Apator SA (Apator Group) (Poland) ', 'Endress+Hauser (Switzerland) ', 'Diehl Metering GmbH (Diehl Group) (Germany) ', 'ABB (Switzerland) ', 'Aichi Tokei Denki Co., Ltd. (Japan) ', 'Chongqing Shancheng Gas Equipment Co., Ltd. (China) ', 'Zenner International GmbH & Co. KG (Germany) ', 'Flonidan A/S (Denmark) ', 'EMH metering GmbH & Co. KG (Germany) ', 'Badger Meter, Inc. (US) ', 'Wasion Group Holdings Limited (Star Treasure Investments Holdings Limited) (China) ', 'Meter Italia S.p.A. (Italy) ', 'Holley Technology Ltd. (Holley Group) (China) ', 'Pietro Fiorentini S.p.A. (Italy) ', 'Raychem RPG Pvt. Ltd. (India)'

Increasing Adoption of Smart Gas Meters

Combination of Cloud and IoT Technologies: IoT and cloud computing are becoming integral to the gas meter market. The connection has made gas meters more accurate and effective. Simultaneously, it allows for data analytics, remote meter administration, and real-time monitoring. IoT-enabled gas meters can transmit the data directly to the cloud for analytics that would help utility providers monitor usage trends, identify leaks, and optimize their distribution networks. By this trend, in such cases, the adoption of smart gas meters is expected to enable utilities to enhance operational efficiency, reduce energy waste, and improve customer service. As the IoT and cloud computing continue to develop, it is envisioned that its applications in gas meters will also be more integrated.

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.