The North America gas meter market reached a value of US$ 1.34 Billion in 2019. Gas meter refers to a device which measures and regulates the volume of various fuel gases, including natural gas and liquified petroleum gas (LPG). It ensures that the pressure-regulated gas supply provides accurate bills to the consumers. Various types of gas meters are currently available in the market, based on several operational principles, like thermal, acoustic, tracer, velocity and displacement. Owing to this, they find wide applications in both the residential and commercial sectors in North America.
The North America gas meter market is currently being driven by several factors. The rising technological advancements have led to the introduction of smart gas meters with benefits, such as easier operability, remote access, controlled consumption and reduction in power outages. These advancements have also enabled the easier and convenient management of data obtained from gas meters, thus providing accuracy in bill generation and other related functions. Apart from this, the rising supply of both conventional and shale gas production has led to the development of new projects in the pipeline, thereby fueling the demand for gas meters across the region. Looking forward, IMARC Group expects the market to reach a value of US$ 1.61 Billion by 2025, registering a CAGR of arround 3% during 2020-2025.
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