Heat Meters Market Industry News, Applications, Growth & Forecast 2029

Market Overview
The Global Heat Meters Market is expected to grow at a CAGR of 7% during the forecasting period (2022-2029).

A heat meter is a device employed to measure thermal energy delivered by a source, by measuring the flow rate of the heat transfer fluid and changing temperature between its outflow and return leg. A heat meter has three key parts: a flow sensor, a calculator, and a pair of temperature sensors. The device is designed to operate at a nominal flow rate and, for a majority of times, it can be operated at or just below this flow rate. Mandatory legislative requirements to install heat meters has become the major driver for the growth of the global heat meter market. Additionally, governments around the globe are developing policies to encourage the use of heat conservation, due to energy import that is taking place in many developing economies. According to International Energy Efficiency, low-carbon district heating providing greater flexibility can decarbonize heating in buildings by deploying heat meters.

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Market Dynamics
The adoption of communication technologies is driving the market for heat meters

The adoption of communication technologies is driving the market for heat meters globally. The global heat meter market is expected to experience significant growth in the upcoming years, owing to the rising amount of digitalization of power utilities, increasing adoption of district heating systems, growing demand for accurate and reliable heat metering systems, and rapid development of commercial as well as residential applications. In 2019, there are more than 6 million heat meters units shipped across Europe, Middle East & Africa, and the Asia-Pacific with a particular focus on communicating meters. Just over 70% of heat meters shipped in EMEA and the Asia Pacific during 2019 were communicating meters. The shift to communicating meters remains steady, by 2025 it is forecasted that only one in five heat meters will be basic. This push for IoT solutions has been bolstered by legislation with Europe and China's dominating influence on the Asia Pacific. Within Europe, the amendment to the Energy Efficiency Directive 2012 stated that from October 2020, all newly installed heat meters and heat cost allocators are to be remotely readable.

However, unregulated policy framework and privacy concerns are the major hindering factors of the global heat meters market. Heat networks in the UK are largely unregulated, but there is support for heat networks via various policy instruments. The hi-tech heat meters that are installed in the residential sector threaten to become a major privacy issue, according to the European watchdog in charge of protecting personal data.

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Market Segmentation:
By Type
• Ultrasonic Heat Meters
• Mechanical Heat Meters
• Others
By Communication
• M-Bus (Wired)*
• Pulses
• Radio
• Others
By Application
• Residential
• Commercial
• Industrial

Competitive Landscape
The global heat meters market is highly fragmented. There is massive competition with the presence of various small players in the market. Key players in the market include Kamstrup, Diehl, Danfoss, Landis+Gyr, Engelman, Siemens, Techem, Itron, Qundis, Ista, Zenner and Apator among others. Technological innovations and increasing investment toward research and development are the key strategies adopted by leading industry players. Mergers and acquisition with technology providers along with growing expansion across the emerging economies have further strengthened their position in the industry.

For instance, in May 2018, The Danfoss team have announced a successful test with the narrowband Internet of Things wireless data communication.

In August 2017, Measurement Canada plans to have thermal energy metering regulated similarly to gas and electricity by 2026.

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This release was published on openPR.