Global Electricity Meter Market, By Technology (Electromechanicals, Electronics), Type (Flat-rate Meters, Interval Meters, Smart Meters, Solar Meters), Phase (Three, Single), End User (Commercial, Industrial, Domestic), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel and Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Electricity Meter Market
Growth and expansion of semiconductors industry especially in the emerging ones, growing usage of electricity meters for residential and commercial applications in the developing economies, surging number of end user industries in the developing economies, growing focus on the technological advancements pertaining to the electricity meters, rising up gradation of existing infrastructure with advanced systems and increasing infrastructural development activities especially in the developing economies are the major factors attributable to the growth of electricity meter market. Data Bridge Market Research analyses that the electricity meter market will exhibit a CAGR of 6.57% for the forecast period of 2022-2029. Therefore, the electricity meter market value would rocket up to USD 15.80 billion by 2029.
From the name itself, it is clear that electricity meters are the semiconductors that allow reading and calculating the consumption of electricity. In other words, electricity meters monitor the usage of electricity by all kinds of residential, commercial and industrial facilities. Electricity meters enable the efficient management of power and electricity and are easy to install.
Rising number of buildings and construction activities and growth in the volume of initiatives undertaken by authorities to develop advanced infrastructure for consistent delivery of energy and power in the developing economies will emerge as the major electricity meter market growth driving factors. Growing awareness about the benefits of using electricity meters, rising focus of consumers to utilize smart meters over conventional meter, surging technological developments in the semiconductor industry, increasing number of product innovations, rising demand for energy-efficient houses and buildings, and widespread industrialization will further aggravate the electricity meter market value. Growing expenditure to undertake research and development proficiencies and surging government support for promoting smart homes and smart meters will further carve the way for the growth of the electricity meter market.
However, high costs associated with the research and development proficiencies will act as growth restraints for the electricity meter market. Also, stringent regulatory framework in the developing economies and standardizations and regulatory procedures imposed by the government for commercialization will further dampen the growth rate of the electricity meter market. Large scale technological and infrastructural limitations, increased awareness amongst consumers for privacy concerns and high costs of smart electricity meters will further challenge the electricity meter market growth rate.
This electricity meter market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on electricity meter market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Electricity Meter Market Scope and Market Size
The electricity meter market is segmented on the basis of technology, type, phase and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- Electricity meter market, on the basis of technology has been segmented into electromechanicals and electronics.
- Based on type, the electricity meter market has been segmented into flat-rate meters, interval meters, smart meters and solar meters.
- On the basis of phase, the electricity meter market has been segmented as three and single phase.
- Electricity meter market has been segmented into commercial, industrial and domestic on the basis of end user.
Electricity Meter Market Country Level Analysis
The electricity meter market is analysed and market size, volume information is provided by country, technology, type, phase and end user as referenced above.
The countries covered in the electricity meter market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America and Europe regions dominate the electricity meter market will continue to flourish its trend of dominance during the forecast period owing to the rising technological transformations in the manufacturing sector and increased availability of energy supplying infrastructure. Asia-Pacific region will score the highest growth rate owing to the rising infrastructural development activities, surging use of smart electricity meters and growing number of manufacturing industries.
The country section of the electricity meter market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electricity Meter Market Share Analysis
The electricity meter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to electricity meter market.
Some of the major players operating in the electricity meter market are ABB, Eaton, Honeywell International Inc., General Electric Company, Itron Inc., Legrand, Siemens, Socomec, STMicroelectronics, wasion group, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Holley Technology UK Ltd., Linyang Group, Sensus, STMicroelectronics, Infineon Technologies AG, Microchip Technology Inc., Analog Devices, Inc., TE Connectivity and Renesas Electronics Corporation among others.