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Gas Meter Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Gas Meter
What Is the Current Gas Meter Market Size and Its Estimated Growth Rate?
The dimension of the gas meter market has seen significant expansion in the past few years. Expected to increase from $5.06 billion in 2024 to $5.42 billion in 2025, it's predicted to experience a compound annual growth rate (CAGR) of 7.0%. The surge noted in the historical period can be accredited to the boost in economic growth in developing markets, growth in industrialization levels, heightened safety considerations, and an outdated infrastructure in gas distribution networks.
In the coming years, the gas meter market is anticipated to witness robust growth, expected to reach a worth of $7.25 billion in 2029 with a compound annual growth rate of 7.6%. Factors such as swift urbanization, increased government backing, and rising usage of natural gas all contribute to this projected growth in the forecast period. Key trends emerging in this period include the integration of IoT for improved data analytics and predictive maintenance, the deployment of new and inventive gas meters for gas distribution, the implementation of prepayment gas meters to better aid consumers in budget management, and an emphasis on partnerships and collaborations to create smart metering solutions.
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How Are Emerging Segments Shaping the Gas Meter Market Landscape?
The gas meter market covered in this report is segmented -
1) By Type: Turbine Gas Meter, Ultrasonic Gas Meter, Diaphragm Gas Meter, Rotary Gas Meter, Other Types
2) By Technology: Smart And Automated, Conventional
3) By End User: Residential, Commercial, Industrial
Subsegments:
1) By Turbine Gas Meter: Industrial Turbine Gas Meters, Commercial Turbine Gas Meters
2) By Ultrasonic Gas Meter: Compact Ultrasonic Gas Meters, Multi-Path Ultrasonic Gas Meters
3) By Diaphragm Gas Meter: Residential Diaphragm Gas Meters, Industrial Diaphragm Gas Meters
4) By Rotary Gas Meter: Positive Displacement Rotary Gas Meters, Multi-Jet Rotary Gas Meters
5) By Other Types: Coriolis Gas Meters, Vortex Gas Meters
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Which Growth Factors Are Influencing Gas Meter Market Expansion?
The accelerated pace of industrialization is projected to fuel the expansion of the gas meter market. Industrialization, which involves transitioning an economy or region to one centered on automated manufacturing, significantly affects energy requirements, leading to surging oil and natural gas consumption. The interplay of swift urbanization, industrial advancement, and government encouragement, especially in emerging regions, is anticipated to favor both local and international gas meter markets. For example, a report by the United Nations Industrial Development Organization (UNIDO), a UN-affiliated agency based in Austria that aids nations in economic and industrial expansion, stated in March 2023 that global manufacturing production rose by 3-4% year-on-year in the last quarter of 2022. Thus, the quickened pace of industrialization is expected to stimulate the development of the gas meter market.
Who Are the Dominant Players Across Different Gas Meter Market Segments?
Major companies operating in the gas meter market include Honeywell International Inc, Xylem Inc, Siemens AG, Emerson Electric Co., Endress + Hauser, Apator SA, Landis + GYR Group AG, ABB Ltd, Badger Meter Inc, EDMI Limited, Panasonic Holdings Corporation, Smartmeters Technologies Pvt. Ltd, Genesis Gas Solutions Private Limited, Secure Meters Limited, Schneider Electric India, Rihtek Automation Pvt. Ltd, Tokyo Gas Meter Co., Ltd, Chugoku Gas Meter Co., Ltd, Aichi Tokei Denki Co Ltd, AES Smart Metering Ltd, British Gas Metering Operations, E.ON, EDF Energy, Energy Assets Ltd, IMServ Europe Ltd, Jersey Electricity, Lowri Beck Services Ltd, PROLA SA, ENVEA, KROHNE, Furness Controls, Mac Instruments, Bopp and, Reuther, Kinequip Inc, Intellimeter Canada Inc, Norgas Controls, Metercor, Fgs Brasil Ind Com Ltda, Itron Solucoes Para Energia E Agua Ltda, Agilent Technologies Brasil Ltda, Buzas Industria E Comercio Ltda, Fluenta, KopaGas Ltd, MaasaraGazz Metro
What Are the Latest Developing Trends in the Gas Meter Market?
The emergence of technological innovations is an increasing trend in the gas meter sector. Key players in this industry are concentrating on crafting cutting-edge products to fortify their market dominance. Notably, in November 2022, Itron Inc., a US-base enterprise specialized in offering solutions and services for energy and water resource administration, unveiled the Itron Intelis gFlex prepayment gas meter. This state-of-the-art meter combines fresh ultrasonic solid-state measuring technology with Itron's wealth of knowledge from 30 years in prepaid metering. Integrated into an uncomplicated SaaS system and managed through various combinations of vending channels and credit transfer options, the Intelis gFlex, aids utilities in securing income and curtailing financial risks. Besides enhancing cash conversion for utilities, the prepayment meter aims to boost customer satisfaction and reduce call center traffic by offering a customer site and mobile application for monitoring and refilling.
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Which Geographic Regions Are Expected to Dominate the Gas Meter Market in the Coming Years?
Asia-Pacific was the largest region in the gas meter market in 2024. The regions covered in the gas meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Gas Meter Market?
2. What is the CAGR expected in the Gas Meter Market?
3. What Are the Key Innovations Transforming the Gas Meter Industry?
4. Which Region Is Leading the Gas Meter Market?
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