Heat Meters Market revenue to cross USD 4 Billion by 2030: Global Market Insights Inc.
Major heat meters market players include BMETERS, Diehl, Kamstrup, Siemens, Sontex, ista Energy Solutions, Apator, Secure Meters, Micronics, Zenner International, Landis+Gyr, and others.
SELBYVILLE, Del., Aug. 22, 2022 /PRNewswire/ -- The global heat meters market is expected to record a valuation of USD 4 billion by 2030, according to the most recent study by Global Market Insights Inc. Growing concerns about climate change and the adoption of sustainable heating technologies are projected to drive the market trends.
In the commercial and industrial sectors, strict regulatory mandates, policies, and norms have been introduced, leading to the refurbishment of traditional heating systems. Rapid technological innovation has also led to the development of advanced products to ensure real-time energy monitoring. Smart metering is considered one of the desirable technologies for utilities, with many of them targeting large-scale implementation. This factor, along with the strong demand for sustainable energy systems to boost efficiency and curb emissions, further indicates growth opportunities for the heat meters market.
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Attractive product benefits to push the demand for vortex heat meters
Based on the product, the report segments the market into ultrasonic and vortex categories. The no-moving-parts design of vortex meters ensures the delivery of reliable, maintenance-free operation, and long service life for users, even in contaminated media applications. Several vortex heat flow meters are also designed with cutting-edge technologies to offer system-wide diagnostics and maintenance.
Increasing need to replace traditional heating systems
The heat meters market from industrial sector is estimated to attain substantial gains during the forecast period, credited to the replacement of conventional heating systems has also gained prominence. Situations such as these, coupled with the introduction of strict mandates regarding the use of clean energy systems, will further augment the heat meters market size from the industrial sector. The residential segment will also record a considerable revenue through 2030. This is attributable to rapid industrialization and the growing spending on research and development to design efficient heat management solutions.
Rising demand in heating applications to increase demand for mechanical technology
In terms of technology, the industry is classified into static and mechanical. Among these, the mechanical segment will amass considerable profits by 2030, as a result of the growing availability of portable, lightweight, and easy-to-handle meters. Multiple high-class, precise, and compact meters based on mechanical flow transducers are also being designed for heating applications, contributing to the popularity of this metering technology among consumers.
Rising demand for heat meters in Germany
The Germany heat meters market is anticipated to cross USD 600 million by 2030, owing to the implementation of heat meters replacement policies. Cloud-based metering units are gaining widespread popularity in the region. With the rising deployment of district heating technology due to extreme weather conditions, the country will likely emerge as a lucrative revenue pocket for the heat meters segment.
New product development to remain a prominent growth strategy
Companies operating in the heat meters market are Danfoss, Axioma Metering, Landis+Gyr, Zenner International, Micronics, Secure Meters, Apator, ista Energy Solutions, Sontex, Siemens, Kamstrup, Diehl, and BMETERS, among others. These participants engage mainly in new product range expansion, acquisition, and collaboration strategies to gain a competitive edge and retain their foothold across the global industry.
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Table of Contents (ToC) of the report
Chapter 3 Heat Meters Market Insights
3.1 Industry Segmentation
3.2 Industry ecosystem analysis
3.3 Innovation & technology landscape
3.4 Regulatory landscape
3.5 COVID- 19 impact on the industry outlook
3.6 Price Trend Analysis
3.7 Global heat statistics, 2018-2020 (EJ)
3.8 Share of renewable energy in heating, 2018-2024
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.1.1 North America
3.9.1.1.1 Stringent government norms toward carbon emissions
3.9.1.2 Europe
3.9.1.2.1 Government incentives toward adoption of district heating systems
3.9.1.2.2 Extreme climatic conditions
3.9.1.3 Asia Pacific
3.9.1.3.1 Rapid urbanization & industrialization
3.9.1.3.2 Government focus toward clean energy directives
3.9.2 Industry pitfalls & challenges
3.9.2.1 Privacy concerns
3.10 Growth potential analysis
3.11 Porter's Analysis
3.12 Competitive landscape, 2021
3.13 PESTEL Analysis
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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