Heat Meters Market to Discern Magnified Growth during 2021 - 2031

A heat meter is a device used for measuring the thermal energy of a source by calculating the flow rate of the heat transfer fluid. It is usually used for the measurement of boiler and heat taken by the system in industrial plants. A heat meter is equipped with a flow sensor, a calculator, and a pair of temperature sensors. The major function of a heat meter is to provide the information required for billing and optimization.

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Market scenario analysis

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

Market trends

Advancements in technology and the digitalization of meters with the deployment of IoT devices are expected to boost the industry's growth. Moreover, favorable government policies regarding energy efficiency along with growing concerns about 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 an automatic remote reading system and 38,000 advanced heat meters.

Market drivers and restraints

The increase in concerns about global warming has made the governments 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, a rise in concerns related to energy conservation along with favorable government rules and regulations pertaining to energy efficiency are expected to fuel the growth of the global heat meter market. However, the adoption of alternative heat sources such as rooftop solar panels, the high capital cost of heat meters, and the increase in competition from alternative heating technologies are the key restraining factors of the global market.

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Regional Insights

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 leader for heat meters, due to its increase in the 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 is the second largest economy and is focusing on energy conservation by implementing heat meters within different application areas.

Market Key Segments:

By Type
• Mechanical
• Static

By Connectivity
• Wired
• Wireless

By Application
• Residential
• Commercial and Public
• Industrial

By Region
• North America (U.S., Canada, Mexico)
• Europe (France, Germany, Italy, Spain, UK, Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
• LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)

Key Market Players: Kamstrup, Diehl Stiftung & Co. KG, The Danfoss Group, Landis+Gyr, Siemens AG, Techem GmbH, Itron, Qundis, Ista, Zenner International GmbH & Co. KG

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Key benefits of the report

• This study presents the analytical depiction of the global heat meter industry 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 a detailed analysis of the global heat meter market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global heat meter market growth scenario.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in the coming years.

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