Most of the companies in the global market for gas
meters operate at regional level. Led by Elster Group GmbH, Itron
Inc., and Dandong Dongfa Co. Ltd., this market demonstrates a highly
competitive nature, states a new study by Transparency Market
Research (TMR). In 2015, these three companies collectively accounted
for 33.4% of the overall market.
These gas meters manufacturers are striving to
improve in regional and the global markets and are aggressively
focusing on product innovation. Analysts at TMR expect the degree of
competition within this market to remain high over the next few
years.
According to the research report, the global market
for gas meters presented an opportunity worth US$2.3 bn in 2015.
Increasing at a CAGR of 8.10% during the period from 2016 to 2024,
the market is likely to reach a value of US$4.7 bn by the end of the
forecast period. The demand for diaphragm gas meters is higher than
other products and is expected to remain so over the years to come,
states the market study.
This 160 page report gives readers a comprehensive
overview of the Gas Meters market. Browse through 18 data tables and
57 figures to unlock the hidden opportunities in this market@
Increasing Industrialization to Boost Asia Pacific
Gas Meters Market
The report also presents a regional analysis of the
worldwide market for gas meters. As per the report, Latin America,
North America, Europe, Asia Pacific, and the Middle East and Africa
are the prime regional markets for gas meters across the world. Among
these, Asia Pacific has acquired the leading position in the overall
market and is expected to remain dominant throughout the forecast
period, thanks to the increasing industrialization in this region.
China, Japan, Australia, India, and the ASEAN countries have surfaced
as the leading domestic markets for gas meters in Asia Pacific. The
rising consumption of natural gas in Asia Pacific is projected to
propel this regional market substantially in the years to come.
Europe is also expected to witness healthy growth in
the demand for gas meters over the next few years on account of the
rising enforcement of stringent regulations regarding the usage of
smart meters and the increasing uptake of natural gas as primary
fuel. The U.K., France, Germany, Italy, and Russia are expected to
lead the Europe market for gas meters, states the report.
Increasing Enforcement of Favorable Regulations to
Propel Global Gas Meters Market
“The growing usage of natural gas as a primary
energy source is the key factor behind the growth of the global gas
meters market,” states the author of this report. With natural gas
replacing crude oil in a number of applications, its consumption
across the residential, commercial, and industrial sectors has
increased tremendously, which is reflecting on the growth of this
market greatly.
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impacting this market@
On the flip side, the incompetence of gas meters in
managing large data volumes generated from smart gas meters, high
initial and switching costs, and the rising uptake of hybrid metering
systems may restrict the rise of this market to some extent over the
forthcoming years. However, the rising enforcement of favorable
regulations and laws regarding adoption of smart meters is
anticipated to boost this market considerably in the years to come,
notes the study.
The study presented here is based on a report by
Transparency Market Research (TMR) titled “Gas Meters Market -
Global Industry Analysis, Size, Share, Growth Trends and Forecast
2016 - 2024.”
The global gas meters market has been segmented as
follows:
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Global Gas Meters Market: By Product Type
- Diaphragm gas meters
- Rotary Gas Meters
- Turbine Gas Meters
- Ultrasonic Gas Meters
- Other Types Gas Meters
Global Gas Meters Market: By Application Type
- Residential
- Commercial
- Industrial
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Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
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techniques to gather and analyze information.
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of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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