Kamstrup (Denmark), Danfoss (Denmark) and Siemens (Germany) are the Major Players in Heat Meter Market - Report by MarketsandMarkets™

According to recent research "Heat Meter Market by Type (Mechanical (Multi-Jet, Turbine), Static (Electromagnetic, Ultrasonic)), Connectivity (Wired, Wireless), End-User (Residential, Commercial & Public, Industrial) Region - Global Forecast to 2023", The global heat meter market is projected to reach USD 1,218.9 million by 2023 from an estimated USD 849.1 million in 2018, at a CAGR of 7.50%. This growth can be attributed to the increasing mandatory legislative requirement to install heat meters for accurate measurement of heat consumption.

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The residential segment is expected to hold the largest share of heat meter market, by type, during the forecast period.

The residential segment is estimated to dominate the heat meter market in 2018 and is projected to have the largest market share during the forecast period. Increase in the number of residential dwellings across the globe year on year has made a positive impact on heat meter market during the forecast period. Residential spaces connected to district heating and cooling networks necessarily require heat meters as it is by far the best practice for generating energy bills based on consumption.

The wireless connection segment is expected to be the fastest growing segment of the heat meter market, by connectivity, during the forecast period.

The wireless connection segment accounted for the highest CAGR during the forecast period. Growth of this segment can be attributed to the advancement in technologies, lower cost of installation and maintenance, higher reliability, and ease of use. Europe region is expected to witness a high growth in wireless connection segment during the forecast period because of the increased spending in connectivity technologies infrastructure.

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Asia Pacific: The leading market for heat meter

In this report, the heat meter market has been analyzed with respect to four regions, namely, Americas, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is estimated to dominate the global heat meter market in 2018 owing to the growth in district heating infrastructure, construction activities, rise in population, and climatic change. The demand for heat meters in Asia Pacific is growing, with about 5.5 million installations in China in 2017.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the heat meter market. Some of the key players Kamstrup (Denmark), Danfoss (Denmark), Siemens (Germany), Diehl (Germany). The leading players are adopting various strategies to increase their shares in the heat meter market.

Danfoss is one of the leading providers of engineering solutions to various markets such as automotive, residential and commercial buildings, district energy, food & beverage, marine and offshore, mobile hydraulics, refrigeration, and air conditioning. The heating business segment, which accounted for 16.8% of the total net sales in 2017, offers heat meters. The heating business segment provides heating/cooling systems, radiator valves and thermostats, floor heating and heat pumps, heat cost allocators, and heat exchangers. Danfoss has a strong regional presence, with 23 production facilities in Western Europe, 16 facilities in Eastern Europe, 14 facilities in North America, 15 facilities in Asia Pacific, 3 in Latin America, and 1 in Middle East & Africa. The heating business segment has 26 factories in 12 countries and more than 100 sales offices in 57 countries, employing 5,399 employees worldwide.

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Kamstrup is one of the leading manufacturers of system solutions for smart energy and water metering. Its product portfolio includes smart grid solutions, water meters, heat meters & cooling meters, and meter reading systems. These products and solutions are used across various business areas such as electricity metering, water metering, heat metering, cooling metering, and individual metering. The company has its presence in more than 60 countries, with a strong network of distribution partners. In September 2015, Kamstrup collaborated with Itron (Austria). The aim of the collaboration was to increase flexibility and interoperability within smart metering companies operating in energy and water industries in Austria.

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