The global Heat Meter Market Size is expected to reach US$ 1,965.2 million by 2030 US$ 923.6 million in 2020 and is expected to grow at an impressive double-digit rate of 9.2% from 2021 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global Heat Meter Market for the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is considered as the base year.
Heat meters are employed to quantify heat energy dispersed through an area or centralized civic heating arrangement. In a heating arrangement the thermal energy is straightly proportional to the output of the fluid movement frequency and the fluid temperature variance. A heat meter comprises of flow quantification equipment, a duo of temperature sensors to quantify the temperature variance, and a calculator to ascertain the thermal energy on the base of the contributions from the temperature and flow variance. Temperature quantification is usually executed by means of platinum resistance thermometers (PRTs) that offer exceptional accuracy over a widespread temperature array (–200 to +850 °C). Alternate sensors for temperature quantification comprise digital temperature devices.
The heat meter industry has grown constantly in the recent past, initially motivated by the developed German market and more lately by evolving Turkish, Russian, and Chinese markets. Nevertheless, the economic and political uncertainty in some regions has stalled the market progress during 2014 and 2015. The market however has revived post 2017 due to heavy investment by governments in emerging regions.
Why should you invest in this report?
If you are aiming to enter the global Heat Meter Market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Heat Meter are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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Growth Factors
Increasing construction activity in developing regions, changes in the climate conditions, rapidly growing awareness in customers, increasing number of heat meter installations by individuals in order to monitor energy spending, and growth in the luxury housing market are among major factors boosting growth of the global industry. Additionally, technological advancements and integration of latest technologies is fueling growth of the heat meter market worldwide. Moreover, rapidly increasing awareness regarding energy conservation is having positive impact on the growth of global industry. Further, increased focus on the improvement of energy infrastructure in developing regions and growing investment by major market players on research and development are other factors to boost growth of the global market during the forecast time frame.
With the growing cost of energy and stress on energy saving, reliable and accurate metering of all services has become essential for measuring and supervising energy expenses. Though, in the year 2011, the Chinese government’s emphasis on substituting coal as a source of housing heating flattened the shipments. This decelerated the pace of new construction in China and hindered the total heat meter industry. Likewise, economic & political slowdown in Russia & Turkey also weakened the heat meter industry.
Currently the market progress has mostly caught up in China, where the shipments have augmented rising year over year. In 2013, the Chinese administration laid out the key alignments for urban development in China, encompassing a proposal to rebalance urban progress by restraining urban sprawl and augmenting compaction of cities. The construction sector offers greater room for better efficiency, both for new creation and also through the revamp of existing structures.
Report Highlights
- Based on type, ultrasonic meters reported largest revenue in 2020. This is accredited to high durability and accuracy of the ultrasonic meters. Further, advantages such as lower energy consumption are expected to boost the growth of the segment in the near future.
- On the basis of technology, static accounted for the weighty share in the target industry. This is due to increasing demand for combined cooling and heating applications.
- Based on application segment, residential accounted for the largest revenue with significant portion in estimate period of time. Factors such as rapidly increasing demand for home automation systems are driving growth of the segment.
- Landis + Gyr and Kamstrup are major companies operating in the global heat meter market.
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Key Market Players and Strategies
The major companies functioning in the worldwide heat meter are Weihai Ploumeter Co. Ltd., Landis + Gyr, Quadlogic Meters Canada Inc, Zenner International GmbH & Co. KG, Kamstrup, Micronics Ltd, MWA Technology Ltd, Qundis, Apator S.A., Qundis, Sontex SA, Siemens AG, WECAN Precision Instruments Co. Ltd., Ista, Huizhong Instrumentation Co. Ltd., Techem, Secure Meters Ltd, and Weihai Ploumeter Co. Ltd. among others. Huge investment in the technological development of heat meter along with business-related collaborations are the crucial business strategies started by the major players operating in the global heat meter market.
Major Market Segments Covered:
By Type
- Turbine Meters
- Ultrasonic Meters
- Vortex Meters
- Others
By Connectivity
- Wired
- Wireless
By Technology
- Mechanical
- Static
By Application
- Residential
- Commercial and Public
- Industrial
Regional Analysis:
The geographical analysis of the global Heat Meter Market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global Heat Meter Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global Heat Meter Market in 2030?
- What is the expected CAGR for the Heat Meter Market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global Heat Meter Market?
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