Global Power Metering Market to Reach US$ 27.0 Billion by 2032, Bolstered by Product Innovation

March 02, 2022 | Energy & Mining

The latest report by IMARC Group, titled “Power Metering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” finds that the global power metering market reached a value of US$ 18.4 Billion in 2023. Power metering is a device installed to measure electricity consumption in household and industrial areas. It provides accurate reading and relevant data metrics compared to electric meters. The system reports energy consumption, enabling utilities and energy distributors to manage their supply and demand in real-time. A power metering system offers low maintenance costs and high operating efficiency. It also results in less tampering and low carbon emissions. In recent years, power metering is replacing conventional digital meters as an efficient and reliable power distribution setup system across the globe.


Global Power Metering Market Trends: 

The market is primarily driven by the rising electricity consumption and dependence on electronic appliances. In addition, with the growing population, there has been an increase in the demand for energy in both commercial and industrial sectors, which is fueling the market growth. Nowadays, energy distributors are also using power metering systems to minimize wastage, resulting in low costs, high reliability, less tampering, and low carbon emissions. Besides this, governments in different countries are focusing on developing grid infrastructure by installing towers and enabling people access to electricity. This is encouraging the installation of power metering systems across the globe. Furthermore, technological advancements, such as the introduction of smart meters, that can be connected via web applications to laptops or smartphones to simplify the operations and enable remote monitoring are creating a positive outlook for the market. Looking forward, the market is expected to reach a value of US$ 27.0 Billion by 2032, exhibiting a CAGR of 4.34% during the forecast period (2024-2032).


Market Summary: 

  • Based on the phase, the market has been segmented into single and three phases.
  • On the basis of technology, the market has been classified into analog, digital, and smart meters.
  • The market has been categorized based on the end use into residential, commercial, and industrial.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being ABB Ltd., Eaton Corporation PLC, General Electric Company, Holley Technology Ltd., Honeywell International Inc., Itron Inc., Jiangsu Linyang Energy Co.Ltd., Ningbo Sanxing Medical Electric Co. Ltd., Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Siemens AG, and Toshiba Corporation.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Phase, Technology, End Use, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd., Eaton Corporation PLC, General Electric Company, Holley Technology Ltd., Honeywell International Inc., Itron Inc., Jiangsu Linyang Energy Co.Ltd., Ningbo Sanxing Medical Electric Co. Ltd., Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Siemens AG and Toshiba Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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)


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Global Power Metering Market to Reach US$ 27.0 Billion by 2032, Bolstered by Product Innovation
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