Press release
Gas Meter Market on Track for Strong Growth, Estimated to Grow at 7.2% CAGR Through 2029
Gas Meter Market
What Is the Expected CAGR for the Gas Meter Market Through 2025?
Recent years have shown robust growth in the gas meter market. Its size is projected to expand from $5.06 billion in 2024 to $5.34 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.4%. The factors credited for the past growth include vigorous economic development in emerging markets, a surge in industrialization, heightened safety awareness, and the aging infrastructure of gas distribution networks.
What's the Projected Size of the Global Gas Meter Market by 2029?
Expectations are high for the gas meter market in the upcoming years, with strong growth anticipated. By 2029, the market is estimated to increase to $7.04 billion, portraying a compound annual growth rate (CAGR) of 7.2%. This growth within the forecast period is credited to accelerated urbanization, supportive government measures, and an uptick in natural gas usage. Key trends within this forecast period encompass the integration of IoT for improved data analytics and proactive maintenance, the debut of modern and advanced gas meters for gas distribution, the launch of prepayment gas meters for effective budget management by consumers, and a focus on partnerships and cooperation to create intelligent metering solutions.
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Top Growth Drivers in the Gas Meter Industry: What's Accelerating the Market?
The growth of the gas meter market is anticipated to be driven by the surge in swift industrialization. The conversion of a region or country's economic structure into one mostly centered on mechanical manufacture is what industrialization entails. Energy demand is heavily influenced by industrial revolutions, leading to a steady increase in the utilization of oil and natural gas. The combined factors of fast-paced urbanization, industrialization, and government efforts to bolster them, especially in developing regions, are predicted to positively affect both regional and worldwide gas meter markets. As an illustration, a March 2023 report by the United Nations Industrial Development Organization (UNIDO), a UN agency based in Austria facilitating economic and industrial progress in various countries, stated that global manufacturing production had seen a 3-4% yearly increase in the last quarter of 2022. Hence, the quickening pace of industrialization will push forward the development of the gas meter market.
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Which Emerging Trends Are Transforming the Gas Meter Market in 2025?
A major trend gaining traction in the gas meter market is the adoption of technological advancements. To consolidate their position in the market, premier firms in the gas meter industry are focused on the development of cutting-edge products. To illustrate, in November 2022, Itron Inc., a technology company based in the United States that offers solutions and services for managing energy and water resources, unveiled the Itron Intelis gFlex prepayment gas meter. This state-of-the-art meter embodies the cutting-edge ultrasonic solid-state measurement technology and taps into Itron's three decades of prepayment metering expertise. Intelis gFlex, which is incorporated into a straightforward-to-deploy SaaS system and managed through a mix of vending channels and credit transfer options, helps utilities to bolster revenue and diminish financial risk. Besides boosting cash conversion for utilities, the prepayment meter endeavors to heighten customer satisfaction and alleviate call center traffic through a dedicated customer portal and mobile app for top-up and monitoring.
What Are the Main Segments in the Gas Meter Market?
The gas metermarket 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 Top Companies are Driving Growth in the Gas Meter Market?
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
Which Regions Will Dominate the Gas Meter Market Through 2029?
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.
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