Heat
Meter Market Scenario
The global Heat meter market is
estimated to expand at 7.25% CAGR during the forecast period. Heat
meter is a measuring device which measures thermal energy provided by a source
by measuring the flow rate of the heat transfer fluid. It is ideally used in
plants for measuring boiler output. It is also used to measure the heat or
cooling output of a heating boiler and chiller unit respectively. The major
function of a heat meter is to provide a data needed for billing and
optimization.
The growing demand for Heat meter
market is attributed to the need for savings through heat conversion and
mandates required to install heat meter. Also, accurate measurement of heat
consumption is driving the market for heat meters. One of the major restraints
for the global heat meter market is cost associated with heat meters.
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Industry
Segmentation
The market for heat meter market is
segmented based on connectivity as wired and wireless. Wired heat meter segment
dominates the market as these heat meters are mainly used in case of poor
connectivity, especially in district areas. For instance, Asia-Pacific is
expected to hold the largest share for wired heat meters with countries such as
China, Japan, and India adopting heat meters at a fast pace.
Based on type, the market is
segmented into mechanical heat meter and static heat meter. The static segment
is estimated to grow at the fastest rate during the forecast period as these
meters use fluidic oscillator principle for providing reliable flow and energy
readings. Considering the connectivity, the market is segmented as wired and
wireless. Wired heat meter is estimated to dominate the market due to increased
adoption of wired meters in poor connectivity areas where residential buildings
are connected with district heating. The end-user segment includes residential,
commercial, and industrial. The residential segment is expected to hold the
largest share during the forecast period due to increasing residential
complexes across the globe.
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Asia-Pacific
accounts for the largest market share as well as the fastest growing region.
Region wise, Asia-Pacific held the
largest market share of the global heat meter market in 2017. It is estimated
that Asia-Pacific region will continue to dominate the market during the
forecast period, mainly due to the growing district heating infrastructure,
rise in population, and climate change.
Asia-Pacific is expected to foresee
increasing manufacturing, meanwhile its dependency on energy imports is
growing. Hence, the demand for heat meter will be needed for conserving the
energy being consumed. Similarly, North America being the second largest
economy is also focusing towards energy conservation programs by implementing
heat meters within different application areas.
Key Players:
The key players of
the global heat meter market are Diehl (Germany), Danfoss (Denmark), Landis+Gyr
(Switzerland), Itron (US), Honeywell Elster (US), Kamstrup (Denmark), Zenner
(US), Sontex (Switzerland), Qundis (Germany), and Siemens AG (Germany).
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