Global Heat Meter Market
Global Heat Meter Market was valued at US$ 796.85 Mn in 2017 and is expected to reach US$ 1842.24 Mn by 2026, at a CAGR of 10.92 % during a forecast period.
A heat meter is a device which measures thermal energy provided by a source or distributed to a sink. It helps to measuring the flow rate of the heat transfer fluid and the modification in its temperature between the outflow and return back of the system.
A high capital cost of heat meters is limiting the global heat meter market growth .Additionally, increase in the development of district heating infrastructure is opportunities for global heat meter market.
Residential segment is expected to share substantial growth in the global heat meter market. The growth is attributed to the growing demand for home automation system with effective planning & management of energy consumption. Increasing flexible integration with innovative metering and management systems are expected to complement the business growth. These heat meters have seen a large scale adoption in the residential sector, which includes large multifamily buildings, luxury apartments, and single-family homes.
Static heat meter is expected to hold large market share in the global heat meter market. Increasing adoption of automated and radical building technologies coupled with development of district heating systems across industrial & commercial formations will expected to increase demand for the static heat meter. Growing demand for combined heating and cooling application with high precision data recording with static measurement principal will encourage the product penetration. Increasing demand for regeneration technologies along with high data precision recording mechanism will definitely influence the product growth.
Heat meters offers the feature such as high durability, low energy consumption, data accuracy, and long-term stability, which are expected to increase demand for heat meters. Additionally, the growing investments toward expansion of service sector across the globe will positively influence the product permeation. Effective measurement of heat consumption with low maintenance cost owing to its non-movable parts will expected to fuel the business growth.
The wireless connection segment is expected to grow at high rate of CAGR during the forecast period. Growth of this segment is attributed to the development in technologies, low cost of installation and maintenance, higher reliability, and ease of use.
Asia Pacific region is projected to lead global heat meter market owing to the upsurge in construction activities and change in climatic conditions. Increasing demand for effective energy management systems along with growing need for individualized metering across residential buildings is expected to boost the heat meters market growth. Heat meters offers feature such as billing accuracy, cost saving, energy consumption monitoring and various communication options are some of the key features which make its adoption preferable. Increasing need for reliable and accurate metering systems coupled with deployment of internet of things platform will further boost the market growth in this region.
The objective of the report is to present a comprehensive assessment of the Global heat meter market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global heat meter market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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The Scope of the Report Global Heat Meter Market
Global Heat Meter Market, By Type
Global Heat Meter Market, By Connectivity
- Wired Connection
- Wireless Connection
Global Heat Meter Market, By End User
Global Heat Meter Market, By Geography
- North America
- Asia Pacific
- Middle East & Africa
- South America
Key players operating in the Global Heat Meter Market
- Sensus (Xylem)
- Wasion Group
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