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Heat Meters Market 2021 to Witness Unstoppable Growth by 2027

05-13-2021 04:35 PM CET | Energy & Environment

Press release from: Allied Market Research

Heat Meters Market

Heat Meters Market

The global heat meters market is expected to register significant growth during the forecast period. This is attributed to rise in digitalization of power utilities and rise in adoption of district heating systems. Increase in demand for accurate and reliable heat metering systems and rapid development of commercial as well as residential sectors are further contributing toward the market growth. In addition, governments across the globe are developing practices to encourage the use of heat conservation, due to energy import from many developing countries. Furthermore, owing to rise in cost of energy and an effort on energy reduction, accurate and reliable metering of all utilities has become essential for managing energy costs. This will create pathways for growth of heat meter market during the forecast period. However, increase in competition from alternative heating technologies and capital cost associated with heat meter operations may act as a key challenge for the global heat meter market.

Advancement in technology and digitalization of meters with deployment of IoT devices are expected to boost the heat meters market growth. Moreover, favorable government policies regarding energy efficiency along with growing concerns toward building emissions will have a positive impact on the global heat meter market. Aalborg Energy Group has set up a contract with Kamstrup for digitalizing the district heating supply network in Denmark. The project is expected to provide the supply of automatic remote reading system and 38,000 advanced heat meters.

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Increase in concerns of global warming has made the governments to provide incentives to citizens and industries to limit and monitor their thermal energy use to reduce the effect of climate change caused by human activities. This has increased the demand for heat meters in various sectors, for instance, district heating & cooling systems. Moreover, rise in concerns related to energy conservation along with favorable government rules and regulations pertinent to energy efficiency are expected to fuel the growth of the global heat meters market. However, adoption of alternative heat sources such as rooftop solar panels, high capital cost of heat meters, and increase in competition from alternative heating technologies are the key restraining factors of the global market.

Region wise, the global heat meters market is analyzed across North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific is expected to be the market leaders for heat meters, due to its increase in use of energy consumption and rapid urbanization. Favorable government incentives and awareness regarding energy conservation and energy-efficient practices significantly contribute toward the growth of this market. North America being the second largest economy is focusing toward energy conservation by implementing heat meters within different application areas.

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Key benefits of the report

• This study presents the analytical depiction of the global heat meters market along with the current trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global heat meters market share.

• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global heat meters market growth scenario.

• The report provides a detailed heat meters market analysis depending on competitive intensity and how the competition will take shape in coming years.

COVID-19 scenario analysis

Over the past few months, the COVID-19 pandemic has caused an unprecedented global economic and social crisis. The pandemic has significantly affected all aspects of life, including the energy sector. The crisis has caused various damages such as reduction in oil prices and low production, especially during the Russia–OPEC price war. These factors are expected to reduce the demand for heat meters in the present scenario.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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