Los Angeles, CA -- (SBWIRE) -- 10/01/2019 -- Smart gas meter is an equipment employed to measure the control for natural gas, liquefied gas, manufactured gas, and other various pipe gases. This device is also known as intelligent gas meter. Moreover, it measures the basic parameters such as volume, pressure, as well as temperature of the gas. Sectors including commercial, industrial, and residential install these smart gas meters, thereby increasing the accessibility to gas for everyone. Market players are taking steps to develop smart metering systems that enable energy saving.
The market has been witnessing a number of product launches. One such instance is UG 2.2 dm3 series gas meters that are designed to be employed for measuring city gas, natural gas, and propane-butane gas. Such product introductions are anticipated to boost the smart gas meter market growth significantly.
Government Regulations to Boost the Market Growth
Government regulations and policies are acting as a major push to the smart gas meter market growth. Surge in the safety concerns has raised the demand for smart gas meter market, thereby resulting in significant market growth. Moreover, it has been observed that a large number of gas exploring companies are teaming up with smart gas meter manufacturers, which is having a positive impact on the smart gas meter market growth.
Rapid urbanization and surge in the demand for gas are some of the key factors driving the global smart gas meter market. Investments in digitalizing gas distribution channels are rising, which, in turn, is expected to open new avenues for the smart gas meter market.
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Key Players to take up New Product launches
Key companies operating in the global smart gas meter market include Itron, Shaanxi Aerospace Power, Diehl Metering, Flonidan, Landis+Gyr, Viewshine, Xylem Inc., EDMI, Apator Group, Yazaki Corporation, ZENNER, Schneider Electric, MeterSit, Goldcard, Innover, Suntront Tech, and Elster Group GmbH. Companies are launching new products to expand their business and reach to a vast customer base across the globe.
For instance, recently, one of the prominent companies, Flonidan launched SciFlo®, which is a compact static gas meter designed for measuring energy in residential settings, wherein gas is the energy source. This smart gas meter is based on ultrasonic measurement technology. It possesses a backlit graphical display.
Key Points to Remember
? Growing need for smart gas meters among various sectors to act as a key factor driving the global market
? Automatic meter reading (AMR) to gain popularity as a key product type
? Residential application to witness substantial growth in the near future
? North America to capture a conspicuous share in the global market in the forthcoming years
By Product Type
? Automatic Meter Reading (AMR)
? Advanced Metering Infrastructure (AMI)
By Application
? Residential
? Commercial
? Industrial
The researchers predict that the automatic meter reading (AMR) product type is expected to acquire a greater market share in the coming years. This technology gathers consumption data from the gas meters and conveys it to a central database for billing as well as other purposes. As per the analysts, the residential sector has emerged as a key application segment owing to the extensive usage of smart gas meters in the residential settings for energy and gas measurement. Moreover, there has been a surge in the number of residential gas subscriptions for cooking and heating purposes, which may fuel growth of the residential application segment in the foreseeable future.
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