2025 Electric Sub Meter Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Electric Sub Meter Market Size By 2025?
The size of the electrical sub meter market has seen substantial expansion in the previous few years. The market's worth is projected to escalate from $9.77 billion in 2024 to $10.65 billion in 2025, showing a compound annual growth rate (CAGR) of 9.0%. The notable growth during the historical period can be accredited to factors such as elevating demands for energy efficiency, augmentation in regulatory requirements tied with energy monitoring, urbanization growth, upsurge in commercial and residential construction projects, enhanced concentration on sustainability, development of smart grid infrastructure, and the sprawling use of renewable energy sources.

How Big Is the Electric Sub Meter Market Size Expected to Grow by 2029?
Expectations are high for a substantial expansion in the electric sub meter market in the coming years, with predictions suggesting growth up to $14.94 billion in 2029, owing to a compound annual growth rate (CAGR) of 8.8%. The forthcoming era of growth can be accredited to surging demands for more efficient energy usage, expanding governmental laws that back smart grid systems, an increased interest in green power sources, and robust urbanisation paired with infrastructure advancement. Other contributing factors include the rising emphasis on precise monitoring of energy usage in both industrial and residential spheres, and efforts to lower electric costs. Notable tendencies expected during this period involve IoT integration advancements for immediate monitoring of data, increased adoption of smart meters for managing energy, progression of sophisticated billing solutions, use of cloud-powered platforms for data analytics, and the implementation of wireless sub metering.

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Which Key Market Drivers Powering Electric Sub Meter Market Expansion and Growth?
The surge in the uptake of renewable energy sources is anticipated to fuel the electric sub-meter market's expansion. Renewable energy, originating from endlessly replenished natural resources such as solar, wind, and geothermal power, is sustainable and kind to the environment - contributing to the reduction of greenhouse gas emissions and tackling climate change issues. Its escalating adoption is credited to the environmental benefits it offers, including lower greenhouse gas emissions and the mitigation of climate change. Electric sub-meters play a crucial role in effectively managing and optimizing renewable energy systems by keeping track of the energy produced, used, and distributed from solar, wind, and hydro sources. For example, in February 2024, as reported by the World Resources Institute, a non-profit organization based in the US, there was a record-setting installation of 31 gigawatts (GW) of solar energy capacity in 2023 in the United States. This represented an impressive 55% increase from the installations in 2022, breaking the previous record set in 2021. Consequently, the rising uptake of renewable energy sources is propelling the electric sub-meter market.

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Which Fast-Growing Trends Are Poised to Disrupt the Electric Sub Meter Market?
The focus of key players in the electric sub-meter market is becoming more directed towards technological advancements, such as blending cloud computing platforms with energy meters. This is to increase data precision, facilitate real-time energy surveillance, and offer sophisticated analysis for improving energy consumption and trimming down operational expenses. The cloud computing platform provides services like data storage, processing, and management over the internet. For instance, ABB Ltd., a Swiss automation firm, introduced the M1M series of electric measurement and power monitoring meters for the digital panel meter in February 2022. The M1M series provides cost-effective submetering solutions for commercial and industrial structures, while concurrently integrating with ABB's cloud platform for holistic system observation and energy optimization. These meters significantly boost the efficiency of electrical systems by offering a complete spectrum of measurement functions.

What Are the Emerging Segments in the Electric Sub Meter Market?
The electric sub metermarket covered in this report is segmented -

1) By Type: Non-Socket Or Electronic Sub-Meter, Socket Or Electromechanical Sub-Meter, Current Transformer, Feed-Through Sub-Meter
2) By Phase: Single Phase, Three Phase
3) By Application: Residential, Commercial, Industrial

Subsegments:
1) By Non-Socket Or Electronic Sub-Meter: Digital Non-Socket Sub-Meter, Smart Non-Socket Sub-Meter, Wireless Non-Socket Sub-Meter
2) By Socket Or Electromechanical Sub-Meter: Analog Socket Sub-Meter, Digital Socket Sub-Meter, Mechanical Socket Sub-Meter
3) By Current Transformer: Instrument Current Transformers, Protection Current Transformers, Measurement Current Transformers
4) By Feed-Through Sub-Meter: Single-Phase Feed-Through Sub-Meter, Three-Phase Feed-Through Sub-Meter, Smart Feed-Through Sub-Meter

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Who Are the Global Leaders in the Electric Sub Meter Market?
Major companies operating in the electric sub meter market are Siemens AG, General Electric Company, Honeywell International Inc., ABB Ltd., Eaton Corporation plc, Chint Group Co. Ltd., Xylem Inc., Hubbell Incorporated, Schneider Electric SE, Leviton Manufacturing Company Inc., Itron Inc., Landis+Gyr AG, Jiangsu Linyang Energy Co. Ltd., Shenzhen Clou Electronics Co. Ltd., OK a.m.b.a. (Kamstrup), Ningbo Sanxing Smart Electric Co. Ltd., Charterhouse Capital Partners (Sagemcom), Shenzhen Techrise Electronics Co. Ltd., Holley Technology Ltd., NuriFlex Co. Ltd., Zhejiang Wellsun Electric Meter Co. Ltd., Ning Xia Yin Xing Energy Co. Ltd. (Longi), Zhejiang Hengye Electronics Co. Ltd., Star Treasure Investments Holdings Limited (Wasion Group), XJ Measurement & Control Meter Co. Ltd.

Which are the Top Profitable Regional Markets for the Electric Sub Meter Industry?
North America was the largest region in the electric sub meter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric sub meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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