Gas Meter is an apparatus which measures and records the quantity of gas produced or consumed, regardless of the quality of the gas or pressurized quantity flowing. It is primarily driven by the force of the moving gas in the pipe. In the modern times, gas meter plays a vital role as it helps to keep a track on gas usage, provides accurate bills and ensures a safe pressure from the gas main supply. It is currently available in different types and designs which offer unique benefits based on volumetric flow rate measurements. According to IMARC Group’s latest report, titled “Gas Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global gas meter market reached a value of US$ 3 Billion in 2017.
With the confluence of growing environmental concerns and rising demand for energy, there has been an increase in the consumption of natural gas across the globe. This acts as a major factor in catalysing the growth of the global gas meter market. In addition to this, as the installation of gas meter helps to reduce the wastage of gas during transmission and distribution, the governments across various nations have encouraged its usage. Some of the other factors such as population growth, elevating consumer incomes, urbanisation, industrialisation and expanding gas distribution network have also contributed to the market growth. Looking forward, the market is expected to grow at a CAGR of 6.7% during 2018-2023, reaching a value of US$ 4 Billion by 2023.
The report has segmented the market on the basis of type into basic and smart. Currently, the basic type is the most popular in the market. Based on application, the market is segmented into residential, commercial and industrial. On a regional-basis, North America has acquired the dominant position and is anticipated to remain leading in the gas meter market, followed by Europe and Asia Pacific. Other regions include Middle East and Africa, and Latin America. The report has also analysed the competitive landscape of the market with some of the key global players being Honeywell, Itron, Adaptor, Diehl Metering and Sensus.
This report provides a deep insight into the global gas meter market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the gas meter industry in any manner.
Key Questions Answered in This Report:
- How has the global gas meter market performed so far and how will it perform in the coming years?
- What are the key regions in the global gas meter market?
- What are the key application segments in the global gas meter market?
- Which are the popular product types in the global gas meter market?
- What are the various stages in the value chain of the global gas meter market?
- What are the key driving factors and challenges in the global gas meter market?
- What is the structure of the global gas meter market and who are the key players?
- What is the degree of competition in the global gas meter market?
- How are gas meters manufactured?