According to the latest report the global gas meter market reached a volume of around US$ 3 Billion in 2016. Looking forward, the market is expected to grow at a CAGR of nearly 7% during 2017-2022, reaching a volume of around US$ 5 Billion by 2022.
This report provides a deep insight into the global gas meter market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.
With the confluence of growing environmental concerns and rising demand for energy, there has been an increase in the consumption of natural gas across the globe. This acts as a major factor in catalysing the growth of the global gas meter market. In addition to this, as the installation of gas meter helps to reduce the wastage of gas during transmission and distribution, the governments across various nations have encouraged its usage. Some of the other factors such as population growth, elevating consumer incomes, urbanisation, industrialisation and expanding gas distribution network have also contributed to the market growth.
The report has segmented the market on the basis of type into basic and smart. Currently, the basic type is the most popular in the market. Based on application, the market is segmented into residential, commercial and industrial. On a regional-basis, North America has acquired the dominant position and is anticipated to remain leading in the gas meter market, followed by Europe and Asia Pacific. Other regions include Middle East and Africa, and Latin America.
The report has also analysed the competitive landscape of the market with some of the key global players being Honeywell, Itron, Adaptor, Diehl Metering and Sensus.