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Smart Gas Metering Systems Market 2020 by Competitive Analysis, Future Prospects To 2024 | Honeywell Elster, Osaki, Itron, Landis+Gyr, Sensus, Aclara Technologies LLC, Badger Meter, Inc., Siemens, Schneider Electric SE, Apator, Raychem RPG, Dandong Dongfa

03-23-2020 08:46 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Smart Gas Metering Systems Market

Smart Gas Metering Systems Market

Smart gas metering systems industry has indeed successfully paved its way across myriad geographies, thanks to the numerous programs being conducted with regards to their rapid adoption. Recently for instance, Pietro Fiorentini announced that it would soon launch its RSE Smart Gas Meter embedded with 3GPP Narrowband-IoT connectivity in Europe smart gas metering systems market. Indeed, this is the first Smart Gas Meter along with NB-IoT connectivity that has officially received the approval of the European Union. The product's trials have already been successfully carried out across countries such as Spain, Portugal, Estonia, China, Poland, Iran, Lithuania, Italy, Ireland, and Sweden.

the United Kingdom presently has around 7.7 million smart gas and electricity meters installed across the nation. Indeed, the UK government aims to have close to 53 million smart meters live by the end of the decade. UK's mission is being actively supported by Landis+Gyr, one of the key players of smart gas metering systems industry. In fact, the firm has been working on a special technology for years and has recently rolled out the SMETS2 for British Gas customers. SMETS2 is apparently renowned for seamlessly switching energy suppliers post installation and would help to bring about novel innovations in smart gas metering systems industry.

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Similar to Landis+Gyr, numerous other companies in smart gas metering systems market have been striving to bring about unique product offerings, on the grounds of which they have been inking strategic agreements with leading firms. In 2017, SK Telecom signed a MoU with Chongqing Gas, the Economic and Information Commission of Chongqing Province, and China Mobile for developing IoT assisted remote gas metering systems across Chongqing. The arrangement enabled users to monitor gas usage through smartphones in addition to helping metermen detect potential gas leakage. The ability of such utility devices to be operated via smartphones and desktop PCs will boost product demand, thereby driving smart gas metering systems market trends.

Endorsed by the indispensable need to conserve energy, smart gas metering systems market has been traversing along a highly profitable path in the last few years. As energy management takes precedence, the demand for accurate resource usage records and billing has become more essential than ever. In this regard, rollout programs pertaining to environmental sustainability have been making a headway in the energy cosmos. Given the unbelievable advantages that smart meters possess over traditional meters, regional governments have been initiating programs that strive to replace traditional meters with smart meters. In consequence, these actions are likely to have an appreciable impact on smart gas metering systems market share.

Europe incidentally, is considered to be one of the most lucrative avenues for smart gas metering systems industry and already boasts of numerous rollouts. The EU Gas Directive of 2013 had declared a target of installing more than 50 million smart gas meters by 2020 across the continent to stimulate smart gas metering systems market. As per estimates, in 2017, the installed collection of gas meters for consumers almost doubled to over 17 million units in EU28+2, driven by the installations across Italy, France, the UK, and the Netherlands. In fact, Italy was the first European nation that deployed smart gas meters on huge scale. The National Regulatory Authority for Electricity, Gas and Water in Italy had actually set a target that 100% of industrial gas meters 60% of residential gas meters should be smart by 2018. With the lure of cost benefits, the deployments witnessed an upsurge since 2014, propelling the regional smart gas metering systems industry size.

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Speaking of the European turf, it is prudent to mention that the UK has a pivotal role to play in augmenting the regional smart gas metering systems market. The SMIP (Smart Metering Implementation Program) initiated by the UK government for instance, intends to replace 53 million electricity and gas meters in more than 30 million residential households by 2020. In order to simplify the rollout process, the UK government had set up a centralized entity - the DCC for providing a universal system for communications services for smart meters. The system went live in late 2016, post which the first half of 2017 witnessed a rollout of 0.8 million smart gas meters in the UK, adding up to a total of 3.1 million units.

China is another massive contributor toward the overall smart gas metering systems market share. The country's government has been highly proactive in ensuring that smart meters are duly installed in the nation in order to save on excess bills. In 2015 for instance, the NDRC (National Development and Reform Commission) of China launched a time-of-use and ladder pricing structure for consumers across the commercial, utility, and residential sectors. Not to mention, numerous other initiatives for installing intelligent gas meters around the country have also been undertaken in China in the last few years. With growing consumer inclination toward smart meters and the support of a favorable regulatory landscape, China smart gas metering systems market size has been projected to register a CAGR of 25% over 2017-2024.

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