Power Metering Market expected to reach US$ 32.45 Billion by 2032 With Leading Key Players -General Electric, Toshiba, Wasion Group, ABB Group, Eaton, Holley Technology, Sensus, Siemens AG, Kamstrup A/S, Aclara Technologies LLC, Melrose Industries, Jiangs

The global power metering market reached a value of US$ 22.53 Billion in 2021. Looking forward, MRA Group expects the market to reach US$ 32.45 Billion by 2032, exhibiting at a CAGR of 5.8% during 2022-2032. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Some of the Major Key players profiled in the study are General Electric, Toshiba, Wasion Group, ABB Group, Eaton, Holley Technology, Sensus, Siemens AG, Kamstrup A/S, Aclara Technologies LLC, Melrose Industries, Jiangsu Linyang Electronics Co., Ltd.

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Various factors are responsible for the market's growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Power Metering market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market.

Global Power Metering Market Segmentation:

Power Metering Segmentation by Type:

Analog Meters, Digital Meters, Smart Meters.

Power Metering Segmentation by Application:

Commercial Use, Industrial Use, Residential Use

A significant rise in the consumption of electricity around the world on account of rapid urbanization, the growing global population, and increasing reliance on electrical appliances represents one of the key factors impelling the market growth. Moreover, governing authorities of numerous countries are investing in upgrading the existing grid infrastructure, which is contributing to the use of power metering systems to measure grid power. Apart from this, the escalating demand for energy in both commercial and industrial sectors is driving the market growth. Furthermore, smart metering is gaining widespread adoption on account of its low cost, high reliability, reduced risk of tampering, and lower carbon emissions. It also aids utilities and energy distributors to manage their supply and demand in real-time and minimize wastage. Besides this, major players in the market are introducing advanced power metering systems that can be connected via a web app to laptops or smartphones to simplify the operation and enable remote monitoring. They are also offering ultraportable, Universal Serial Bus (USB) powered solutions that enable frequency-based power measurements. Such innovations are projected to positively influence the demand for power meters worldwide.

Market Segmentation: By Geographical Analysis

The Middle East and Africa (GCC Countries and Egypt)
North America (the United States, Mexico, and Canada)
South America (Brazil etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

Smart Meters Technology to Dominate the Market
Smart electric meter plays a significant role in the industrial, residential, manufacturing, and commercial sectors, as it measures the energy consumed by the consumers. Smart meters measure and report energy consumption, enabling utility and energy distributors to manage their supply and demand in real-time, resulting in low costs, high reliability, less tampering, and low carbon emissions.
In 2018, the utilities invested in the deployment of smart meters were worth almost USD 20.1 billion. In order to meet the national and European Union targets, the European utilities installed 150 million smart meters over 2016-20, amounting to USD 37.8 billion of investment. The utilities are expected to expand the installation to approximately 227 million units by 2026.
With the use of smart meters, utilities can monitor households or commercial establishments that do not pay their bills and can shut down their services remotely. Additionally, the smart metering infrastructure helps utilities respond quickly to tampering. The built-in tamper detection and protection functionalities can send real-time notifications to the utilities when there is an attempt at tampering.

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Key questions answered in the report include:

who are the key market players in the Power Metering Market?
Which are the major regions for dissimilar trades that are expected to eyewitness astonishing growth for the Power Metering Market?
What are the regional growth trends and the leading revenue-generating regions for the Power Metering Market?
What will be the market size and the growth rate by the end of the forecast period?
What are the key Power Metering Market trends impacting the growth of the market?
What are the major Product Types of Power Metering?
What are the major applications of Power Metering?
Which Power Metering Services technologies will top the market in next 7 years?
Table of Contents

Global Power Metering Market Research Report 2022 - 2029

Chapter 1 Power Metering Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Power Metering Market Forecast

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