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Gas Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global gas meter market size reached US$ 4.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.82% during 2023-2028.

A gas meter refers to a specialized flow meter that measures and records the volume of gas produced and consumed. It helps record the distribution of numerous fuel gases, such as natural gas and liquified petroleum gas (LPG). It also keeps track of the usage of gas, ensures adequate gas pressure from the main supply, and provides accurate bills to consumers. It is available in various types and designs that offer unique benefits based on several operational principles, including thermal, acoustic, tracer, velocity, and displacement. At present, the gas meter finds extensive applications in the residential and commercial sectors across the globe.

Global Gas Meters Market Trends:

The growing global population and rapid industrialization are among the key factors positively influencing the demand for natural gas worldwide. This, coupled with the ongoing reconstruction of gas distribution networks and rising investments in developing natural gas pipeline infrastructure, represents one of the key factors contributing to the market growth. Apart from this, the increasing awareness among individuals about the advantages of gas meters in reducing the overall gas wastage during transportation and distribution is strengthening the market growth. Along with this, numerous government initiatives to encourage the adoption of energy-saving systems, such as smart gas meters, are acting as another growth-inducing factor. Furthermore, technological advancements that facilitate remote monitoring and gas leakage detection, along with the integration of cybersecurity systems in gas meters to ensure reliable and safe consumer data consumption, are propelling the market growth. Moreover, increasing investments by leading market players in research and development (R&D) activities to manufacture innovative gas meters with the latest technology, such as an in-home display (IHD), are anticipated to drive the market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global gas meter market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

  • Basic
  • Smart


Basic gas meters currently represent the most popular gas meter type as they are used in the majority of commercial and residential installations.

Breakup by Application:

  • Residential
  • Commercial
  • Industrial


The residential sector presently holds the majority of the global gas meter market share due to the growing global population, rapid urbanization, and the rising need for residential gas connections

Regional Insights:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America
     

North America exhibits a clear dominance in the market on account of low fuel prices and the uptake of new pipeline projects in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Honeywell International Inc., Itron Inc., Apator SA, Diehl Stiftung & Co. KG, and Sensus Worldwide Holdings Limited.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Honeywell International Inc., Itron Inc., Apator SA, Diehl Stiftung & Co. KG, and Sensus Worldwide Holdings Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Gas Meter Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Type
    5.5    Market Breakup by Application
    5.6    Market Breakup by Region
    5.7    Market Forecast
    5.8    SWOT Analysis
        5.8.1    Overview
        5.8.2    Strengths
        5.8.3    Weaknesses
        5.8.4    Opportunities
        5.8.5    Threats
    5.9    Value Chain Analysis
        5.9.1    Overview
        5.9.2    Research and Development
        5.9.3    Raw Material Procurement
        5.9.4    Manufacturing
        5.9.5    Marketing
        5.9.6    Distribution
        5.9.7    End-Use
    5.10    Porters Five Forces Analysis
        5.10.1    Overview
        5.10.2    Bargaining Power of Buyers
        5.10.3    Bargaining Power of Suppliers
        5.10.4    Degree of Competition
        5.10.5    Threat of New Entrants
        5.10.6    Threat of Substitutes
6   Market Breakup by Type
    6.1    Basic
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Smart
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Application
    7.1    Residential
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Commercial
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Industrial
        7.3.1 Market Trends
        7.3.2 Market Forecast
8   Market Breakup by Region
    8.1    North America
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Europe
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Asia Pacific
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Middle East and Africa
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Latin America
        8.5.1 Market Trends
        8.5.2 Market Forecast
9   Gas Meter Manufacturing Process
    9.1    Product Overview
    9.2    Raw Material Requirements
    9.3    Manufacturing Process
    9.4    Key Success and Risk Factors
10  Competitive Landscape
    10.1    Market Structure
    10.2    Key Players
    10.3    Profiles of Key Players
        10.3.1   Honeywell International Inc.
            10.3.1.1    Company Overview
            10.3.1.2    Description
            10.3.1.3    Product Portfolio
            10.3.1.4    Financials
            10.3.1.5    SWOT Analysis
        10.3.2    Itron Inc.
            10.3.2.1    Company Overview
            10.3.2.2    Description
            10.3.2.3    Product Portfolio
            10.3.2.4    Financials
            10.3.2.5    SWOT Analysis
        10.3.3    Apator SA
            10.3.3.1    Company Overview
            10.3.3.2    Description
            10.3.3.3    Product Portfolio
            10.3.3.4    Financials
        10.3.4    Diehl Stiftung & Co. KG
            10.3.4.1    Company Overview
            10.3.4.2    Description
            10.3.4.3    Product Portfolio
        10.3.5    Sensus Worldwide Holdings Limited
            10.3.5.1    Company Overview
            10.3.5.2    Description
            10.3.5.3    Product Portfolio

List of Figures

Figure 1: Global: Gas Meter Market: Major Drivers and Challenges
Figure 2: Global: Gas Meter Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Gas Meter Market: Breakup by Type (in %), 2022
Figure 4: Global: Gas Meter Market: Breakup by Application (in %), 2022
Figure 5: Global: Gas Meter Market: Breakup by Region (in %), 2022
Figure 6: Global: Gas Meter Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: Global: Gas Meter Industry: SWOT Analysis
Figure 8: Global: Gas Meter Industry: Value Chain Analysis
Figure 9: Global: Gas Meter Industry: Porter’s Five Forces Analysis
Figure 10: Global: Basic Gas Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Basic Gas Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Smart Gas Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Smart Gas Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Gas Meter Market (Residential Applications): Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Gas Meter Market Forecast (Residential Applications): Sales Value (in Million US$), 2023-2028
Figure 16: Global: Gas Meter Market (Commercial Applications): Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Gas Meter Market Forecast (Commercial Applications): Sales Value (in Million US$), 2023-2028
Figure 18: Global: Gas Meter Market (Industrial Applications): Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Gas Meter Market Forecast (Industrial Applications): Sales Value (in Million US$), 2023-2028
Figure 20: North America: Gas Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: North America: Gas Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Europe: Gas Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Europe: Gas Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Asia Pacific: Gas Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Asia Pacific: Gas Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Middle East and Africa: Gas Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Middle East and Africa: Gas Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Latin America: Gas Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Latin America: Gas Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Gas Meter Manufacturing: Detailed Process Flow

List of Tables

Table 1: Global: Gas Meter Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Gas Meter Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Gas Meter Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Gas Meter Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Gas Meter Manufacturing: Raw Material Requirements
Table 6: Global: Gas Meter Market: Competitive Structure
Table 7: Global: Gas Meter Market: Key Players


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Key Questions Answered in This Report

The global gas meter market was valued at US$ 4.1 Billion in 2022.

We expect the global gas meter market to exhibit a CAGR of 5.82% during 2023-2028.

The growing adoption of energy-saving systems, such as smart gas meters, owing to their various benefits, such as reducing the wastage of gas during transmission and distribution, is primarily driving the global gas meter market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for gas meters.

Based on the type, the global gas meter market has been segmented into basic and smart. Currently, basic gas meters hold the majority of the total market share.

Based on the application, the global gas meter market can be divided into residential, commercial, and industrial. Among these, the residential sector accounts for the largest market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global gas meter market include Honeywell International Inc., Itron Inc., Apator SA, Diehl Stiftung & Co. KG, and Sensus Worldwide Holdings Limited.

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