Smart Gas Meters Market: Introduction
- Smart gas meters refer to devices which measure and record the quantity of gas produced or consumed, regardless of the quality of the gas or pressurized quantity flowing.
- Smart gas meters are essential for ensuring adequate gas pressure from the main supply, keeping track on the usage of gas and providing accurate bills.
- Nowadays, gas meters are available in different types and designs that provide unique benefits based on volumetric flow rate measurements.
- Smart gas meters offer various advantages such as precise reading, avoiding manual involvement, maintaining data of usage, avoiding unaccounted consumption, and evaluating monthly tariffs.
- Smart gas meters are of two types namely, advanced metering infrastructure and auto meter reading.
- It is equipped with the technology that provides energy consumption in digital readings and not in analog unlike traditional meters. This makes the study of gas consumption easy and precise.
Rise in Demand for Smart Gas Meters in Petroleum and Gas Industry
- Operational advantages such as excluding the need to note monthly reading manually, continuous monitoring of pipelines, availability of real-time data, and preciseness in operation is likely to drive the adoption of smart gas metering, and subsequently boost the global smart gas meter market.
- The cost saving with a onetime investment in installing smart gas meters for household, commercial, and industrial purposes is set to drive the market growth.
- Along with advantages provided to gas companies, the smart gas meter also has some benefits for customers that includes enabling the user to control monthly bills, detailed feedback regarding energy use, and decline in system failure. These factors may attract high revenue for the smart gas meter market during the forecast period.
- Further, the inclination toward clean sources of energy in recent years has increased demand for natural gas, which is projected to directly increase the demand for smart gas meters during the forecast period.
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North America to Lead the Global Smart Gas Meter Market
- In terms of region, the global smart gas meter market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America dominated the smart gas meter market owing to high demand for use of natural gas and extensive production of gas in the region.
- In Europe, smart gas metering initiatives are propelled by the increasing investments by governments of various countries in the region. The UK government recently initiated the Smart Metering Implementation Program to replace more than 53 million conventional electricity and gas meters in over 30 million residential premises.
- However, during the forecast period, Asia Pacific is expected to emerge as one of the most dynamic markets for smart gas meters. The commencement of various large-scale smart gas metering projects in countries such as China and Japan will fuel demand from the region. The smart gas market in the region is expected to expand at a robust pace with utilities and governments in Asia Pacific encouraging aggressive smart gas meter deployments.
Key Players in the Global Smart Gas Meter Market
- Elster Group GmbH
- General Electric
- EnerNOC Inc.
- Sensus Metering Systems, Inc.
- Honeywell International
