Heat Meters Market Size Demand Share Analysis 2022-2029

The Heat Meters Market is expected to grow at a CAGR of 7% during the forecast period 2022-2029. North America region has the highest market share in the Heat Meters Market, and it is further continuing its dominance during the forecast period.

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Our research report gives wide perceptions of the latest trends and development prospects of the market analysis, detailed segmentation analysis, volume, size, share, growth drives, and opportunities in the market. In-depth regional and country-level illustration of the competitive landscape depends on several phases and status of clinical trials over the prominent economies of the globe, and also report contains a number of major companies profiled in the relevant market.

Market Drivers:

The global market for heat meters is being driven by the adoption of communication technologies. Due to the growing demand for accurate and dependable heat metering systems, the rapid development of commercial and residential applications, and the growing amount of digitalization of power utilities, the global heat meter market is expected to expand significantly in the coming years.

More than 6 million heat meters with a focus on communicating meters will be shipped in 2019 to Europe, the Middle East and Africa, and Asia-Pacific. Communication meters made up just over 70% of the heat meters shipped in 2019 to EMEA and the Asia Pacific. The trend toward communicating meters continues; it is anticipated that by 2025, only one in five heat meters will be basic. Legislation has bolstered this push for IoT solutions, with China's and Europe's dominance in the Asia-Pacific region. In Europe, the Energy Efficiency Directive 2012 amendment mandated that all newly installed heat meters and heat cost allocators be remotely readable beginning in October 2020. However, the main barriers to the global heat meters market are privacy concerns and an unregulated policy framework. Although there is support for heat networks through a variety of policy instruments, heat networks in the UK are largely unregulated.

According to the European watchdog in charge of protecting personal data, the high-tech heat meters that are installed in the residential sector run the risk of becoming a major privacy concern.

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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
• Others

Geographical Classification:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

Major Companies Listed:

Kamstrup, Diehl, Danfoss, Landis+Gyr, Engelman, Siemens, Techem, Itron, Qundis, Ista, Zenner and Apator among others.

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This release was published on openPR.