Emerging Trends in the Gas Meter Market: What You Need to Know - Aclara, Badger Meter, General Electric, Itron, Elster, ABB

The global gas meter market revenue was valued at $5.8 billion in 2020, and is projected to reach $9.7 billion by 2028, growing at a CAGR of 6.6% from 2021 to 2028.

A gas meter is a device used to measure the amount of natural gas or other types of gases consumed in a residential, commercial, or industrial setting. It is an essential component of gas distribution systems as it helps to accurately record the volume of gas used for billing purposes, safety monitoring, and regulatory compliance.

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Gas meters come in various types, but the most common ones include:

Diaphragm Meters: These meters consist of a chamber with flexible diaphragms that expand and contract as gas flows through them. The movement of the diaphragms is used to measure the volume of gas passing through the meter.

Rotary Meters: Rotary meters use a rotor or impeller that rotates as gas passes through. The number of rotations is proportional to the volume of gas consumed.

Turbine Meters: Turbine meters have a turbine rotor that spins as gas flows through it. The rotational speed is directly proportional to the flow rate of the gas.

Ultrasonic Meters: These meters use ultrasonic waves to measure the velocity of gas flow. By analyzing the time it takes for sound waves to travel between transducers, the flow rate is calculated.

Orifice Meters: Orifice meters consist of a restriction (orifice plate) in the gas flow path. The pressure drop across the orifice is used to calculate the flow rate.

Major players have adopted business expansion, merger, and acquisition to sustain the intense market competition. Some of the key players profiled in the report include General Electric, Itron, Elster, Landis+Gyr, ABB, Aclara, and Badger Meter.

The smart gas meters segment was the highest contributor to the market, and is estimated to grow at a CAGR of 7.0% during the forecast period.

The residential segment was the highest contributor to the market and is estimated to grow at a CAGR of 6.5% during the forecast period

The industrial segments is expected to witness significant CAGRs of 7.2% and respectively, during the forecast period.

Growth in adoption of smart meters in commercial and large residential areas is expected to drive the gas meter market growth during the forecast timeframe.

COVID-19 scenario analysis

The gas meter market has been severely impacted by the outbreak of COVID-19 across the globe. The market witnessed large fall in demand, owing to large number of shutdowns in the industrial sector.

But stockpiling practices disrupted the supply chain of vendors, and countries with mandated installation deadlines will maintain the market demand during the pandemic.

However, shifting trend toward work from home norms and growing residential energy consumption will escalate the installation of gas meters for residential end users.

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Gas meters typically have a display that shows the amount of gas consumed in units such as cubic feet or cubic meters. This data is then used by gas utility companies for billing purposes. Additionally, gas meters play a crucial role in safety, as they allow for the detection of abnormal gas consumption patterns that might indicate leaks or other hazards.

In the post-COVID period, industry players will focus to re-asses their supply chain and consider whether sourcing from domestic players closer to operational site may improve the supply chain.

The mandatory installation of smart meters in households and commercial areas is anticipated to influence the gas meter market growth.

In addition, increase in demand for efficient energy technologies such as implementation of IOT (Internet of Things) will further drive the demand for various smart gas meters.

Gas meters are essential for ensuring adequate gas supply of natural or liquefied petroleum gas to keep a track on the usage of gas.

Gas meters are widely used in industrial, commercial, and large residential areas to maintain total usage of petroleum gas supplied by utility companies.

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Moreover, gas billing systems based on automated meter reading in smart meter makes the billing procedure easier than that of conventional gas meters.

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