Press release
Surge In Natural Gas Usage And Its Impact On The Smart Gas Market Emerges as a Core Driver of the Smart Gas Market in 2025
Smart Gas Market
What Is the Expected CAGR for the Smart Gas Market Through 2025?
The market size of smart gas has been expanding swiftly over the recent years. It is anticipated to increase from a value of $28.14 billion in 2024 to $31.95 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 13.6%. This expansion during the historical period can be credited to regulatory policies, upgradation of infrastructure, pressure to decrease costs, environmental consciousness, and customer desire for efficiency.
What's the Projected Size of the Global Smart Gas Market by 2029?
The market size for smart gas is predicted to experience significant expansion in the coming years, reaching an impressive $58.32 billion by 2029 with a compound annual growth rate (CAGR) of 16.2%. This considerable growth within the prediction period can be credited to elements such as the amplification of IoT, smart city programs, integration of renewable energy, the worldwide shift in energy sources, and energy management solutions. Future trends during this anticipated period are expected to involve advanced metering infrastructure (AMI), the use of data analytics and artificial intelligence, the implementation of cybersecurity measures, the incorporation of renewable gas, the application of blockchain technology, and further smart city initiatives.
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Top Growth Drivers in the Smart Gas Industry: What's Accelerating the Market?
The smart gas market is predicted to expand due to the rising usage of natural gas. Natural gas, a cocktail of hydrocarbons rich in gases, is predominantly utilized for their heating, refrigeration, cooking appliances in residential and commercial buildings, as well as drying and outdoor illumination. Smart gas plays a vital role in the natural gas infrastructure, as it provides valuable data analytics which enhance decision-making ability; it also aids in detecting harmful gases, measuring oxygen levels, preventing fire hazards, protecting pipes from corrosion, and managing risks, thereby improving the distribution network of natural gas. As per a November 2022 report by a government agency in the United States, the US Energy Information Administration, it was determined that in 2021, the U.S used approximately 30.66 trillion cubic feet (Tcf) of natural gas, equivalent to about 31.73 quadrillion British thermal units (quads), which represented 32% of total U.S energy consumption. The report also projected that in 2022, industrial use will constitute roughly 26% of total U.S natural gas consumption, indicating an increase by 3% in 2022, following a 2% increase in 2021. Also, natural gas consumption in the industrial sector is expected to surpass 23 billion cubic feet per day in 2022 compared to the previous year. This surge in natural gas usage indicates a positive growth trajectory for the smart gas market.
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What Trends Will Shape the Smart Gas Market Through 2029 and Beyond?
The smart gas market is increasingly impacted by technological innovations and enhancements. Leading firms within this market are integrating new technology to maintain market dominance. For example, Hestan Cue, a U.S. company known for its smart cookware products, introduced its Hestan Smart Gas burner in July 2022. This advanced gas technology automatically adjusts to the appropriate level for precise gas cooking via temperature monitoring. The product is equipped with Bluetooth and unique built-in culinary sensors. These sensors automatically modulate cooking temperature once the AccuKnob is dialed to the correct degree. Moreover, the product offers a superior dual-flow gas system that heats in increments of 25 degrees, ranging between 100 to 500 degrees Fahrenheit.
What Are the Main Segments in the Smart Gas Market?
The smart gasmarket 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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