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Comprehensive 2025 Smart Gas Market Overview: Trends, Forecasts, and Growth Drivers
Smart Gas
What Is the Expected CAGR for the Smart Gas Market Through 2025?
In recent times, the size of the smart gas market has seen a swift expansion. The market value is expected to rise from $28.14 billion in 2024 to $32.5 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 15.5%. The surge during the historic period can be attributed to regulatory initiatives, upgrading of infrastructure, the need to reduce costs, environmental consciousness, and consumer demand for efficiency.
What's the Projected Size of the Global Smart Gas Market by 2029?
In the coming years, the size of the smart gas market is predicted to expand rapidly, reaching "$59.92 billion in 2029 with a compound annual growth rate (CAGR) of 16.5%. The predicted surge throughout the forecast period can be ascribed to growth factors such as the expansion of IoT, initiatives for smart cities, integration of renewable energy, the global energy transition, and energy management solutions. Pertinent trends anticipated during the forecast period encompass advanced metering infrastructure (ami), the use of data analytics and artificial intelligence, measures for cybersecurity, renewable gas integration, the application of blockchain technology, and smart city initiatives.
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Top Growth Drivers in the Smart Gas Industry: What's Accelerating the Market?
The growth of the smart gas market is predicted to be fuelled by the rising demand for natural gas. Natural gas consists of hydrocarbon-rich gases and is utilized in both residential and commercial spaces for heating, refrigeration and cooling systems, cooking, clothes drying, and outdoor lighting. Smart gas plays a crucial role in the natural gas infrastructure by providing crucial data and analysis that enhances decision-making. Its functions include detecting hazardous gases, measuring oxygen levels, preventing fire hazards, protecting against pipe corrosion, and managing risks, all of which contribute to improving the natural gas distribution network. For example, a report issued by the US Energy Information Administration in November 2022 stated that the United States consumed around 30.66 trillion cubic feet (Tcf) or approximately 31.73 quadrillion British thermal units (quads) of natural gas in 2021, accounting for 32% of the country's total energy consumption. The report also projected that industrial use of natural gas will constitute roughly 26% of the total US natural gas consumption in 2022, with an increase of 3% expected following a 2% increase in 2021. The industrial consumption of natural gas is anticipated to exceed 23 billion cubic feet per day in 2022 compared to the previous year. Hence, the escalating demand for natural gas is spurring the growth of the smart gas market.
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What Trends Will Shape the Smart Gas Market Through 2029 and Beyond?
Emerging technological developments stand as a significant trend escalating popularity in the smart gas market. To maintain their relevance in the market, primary companies in the smart gas segment are embracing innovative technologies. For example, Hestan Cue, a US-based firm specialized in smart cookware products, rolled out the Hestan Smart Gas burner in July 2022. This new leap in smart gas technology automatically adjusts to the correct degree necessary for precision gas cooking using temperature monitoring. It comes equipped with Bluetooth technology and bespoke culinary sensors built in, which auto-adjust the cooking temperature once the AccuKnob on the hob is accurately set. Additionally, it boasts a high-efficiency dual-flow gas system that warms in increments of 25 degrees from 100 to 500 degrees Fahrenheit.
What Are the Main Segments in the Smart Gas Market?
The smart gas market covered in this report is segmented -
1) By Device: Automatic Meter Reading (AMR), Advanced Meter Infrastructure (AMI)
2) By Solution: Supervisory Control And Data Acquisition (SCADA), Geographical Information System (GIS), Enterprise Asset Management, Mobile Workforce Management (MWM), Meter Data Analytics, Gas Leak Detection, Meter Data Management (MDM)
3) By Service: System Integration, Program Management, Installation
4) By End-User: Commercial And Industrial, Residential
Subsegments:
1) By Automatic Meter Reading (AMR): Mobile AMR Systems, Fixed Network AMR Systems
2) By Advanced Meter Infrastructure (AMI): Smart Gas Meters, Communication Networks, Data Management Software, Analytics And Reporting Tools
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Which Top Companies are Driving Growth in the Smart Gas Market?
Major companies operating in the smart gas market include General Electric Company, Itron Inc, Schneider Electric SE, ABB Group, Landis+Gyr Inc, Oracle Corporation, Elster Group SE, Xylem Brand, Aclara Technologies LLC, Cap Gemini S.A, Diehl Stiftung and Co.KG, Silver Spring Networks Inc, Sensus USA Inc, Verizon Communications Inc., Badger Meter Inc., Consultants to Government and Industry Incorporated, Holley Technology Ltd., KROHNE Messtechnik GmbH, OSIsoft LLC, Capgemini SE, Siemens AG, Suez SA, Xylem Inc., Tieto Corporation, Yokogawa Electric Corporation, International Business Machines Corporation, Azbil Corporation, I2O Water Ltd.
Which Regions Will Dominate the Smart Gas Market Through 2029?
North America was the largest region in the smart gas market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global smart gas market report during the forecast period. The regions covered in the smart gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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