Global Power Meters market Commercial Types, Scientific Research, Status and Forecast(2018-2023) by Downstream Industry

Power Meters Market

Power Meters-Global Market Status and Trend Report 2013-2023 offers a comprehensive analysis on Power Meters industry, standing on the readers’ perspective, delivering detailed market data and penetrating insights. No matter the client is industry insider, potential entrant or investor, the report will provides useful data and information.

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A power meter is an electric gadget that measures energy consumption and enables uni and bi-directional communication, between the meter and the focal framework. The gadget reads and stores information of the number of units of power devoured in interims, and imparts this data back to the utility for charging and monitoring purposes. Increasing ecological concerns, technological upgradation of the old matrix infrastructure, low upkeep cost, and two-way communication are few of the major drivers pushing smart meters installations in different well-established regions, for example, North America and Europe. Every region has been analyzed regarding its market patterns, development, and future prospects, as far as the power metering market is considered. 

Power meters can be differentiated into three prime categories, viz., residential, commercial, and industrial applications. Among these, the residential application captures the majority of the market share, which includes the utilization of meters in all the urban and rural households. The commercial application holds the second largest share of the market and is utilized in various commercial places such as schools, hospitals, and shopping complexes. One of the major factors driving the market is the increasing construction and industrial activities, along with the substitution market of old and technologically outdated meters.

Scope of the Report :-

Global Power Meters Market: Type Segment Analysis (Consumption Volume, Average Price, Revenue, Market Share and Trend 2013-2023):

Wired

Wireless .

Global Power Meters Market: Application Segment Analysis (Consumption Volume and Market Share 2013-2023; Downstream Customers and Market Analysis)

Scientific Research

Medical Care

Industry

Others .

Global Power Meters Market: Manufacturers Segment Analysis (Company and Product introduction, Power Meters Sales Volume, Revenue, Price and Gross Margin):

Eaton

Accuenergy

Gentec-EO

Scientech

Siemens

Yokogawa

LEONI Fiber Optics

BOONTON .

Government Investments Across Various Regions to Drive the Growth of the Market

As per a valid source, the overall population in the world, which was estimated to be 7.3 Billion in 2014, is accelerating at a rate of 1.14% per annum. Legislative bodies of the emerging regions are investing heavily in the development of the infrastructure in their respective regions, in order to provide better living facilities, clean water, and sanitation. This would result in an increase in the number of construction activities, which would drive the growth of the overall market. In the Asia Pacific region, China and India spent an aggregate of USD 1.7 Trillion on construction activities in 2012. Accordingly, the region accounted for the largest share of the market of more than 40% in 2014 and is expected to grow at a relatively high CAGR of more than 8% over the forecast period. China is comparatively a low-cost manufacturing base, which makes a lucrative market for the manufacturers for sale to the local markets and export. Governments of the African countries are following up various initiatives to be in line with the electrification rate, which would further push the power metering market.

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The U.S. to Hold a Significant Share of the Overall Market

The United States isn't concentrating on the generation of power, as utilization patterns have not changed much. Rather, the nation emphasizes on the development of smart grid solutions. Electric companies have introduced 65 million smart meters, covering over half of the overall US households, by 2015. The deployment came to roughly 70 million smart meters by the end of 2016 and is anticipated to reach 90 million by 2020. On the off chance that smart grids are completely deployed over the United States, the nation hopes to save USD 130 billion every year, by 2019. Further, Canada, with a 100% electrification rate, has introduced smart meters across about 70% of the nation.

Future Growth Opportunities for the Global Power Meters Market

The global power metering market has tremendous growth opportunities inferable by increasing demands from emerging economies, for example, India, Brazil, and South Africa. The administrations would upgrade the grid infrastructure, which would be done by introducing more towers with the goal that more number of individuals have access to electricity. This would likewise guarantee the development of the power metering market since they would be introduced to measure electricity consumption. Additionally, rapidly increasing demands from different application businesses and regions are bringing forth several elating market opportunities for power meters.

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