Heat
Meter Market Analysis
Market
Research Future (MRFR) has recently published a comprehensive report on the Heat
Meter Market outlining the key trend and patterns that can impact the
market growth over the forecast period of 2018-2023. MRFR's analysis has
predicted a CAGR of 7.25% over the forecast period.
In
recent years, the heat meter market has grown considerably, in part, due to
consistent demand from emerging economies.
The
regulatory framework in multiple countries mandates the installation of heat
meters to curb energy consumption across diverse areas. Energy conservation has
topped the list of concerns of most economies which has increased interest in
heat meters. Not only are heat meters used in community centers, but they are
increasingly being adopted by the residential sector for calculation of heat
energy distribution. Developing heating infrastructure ibn various nations have
boosted the growth of the heat meter market. In multi-family buildings and
apartments, heat meters help in the identification of total energy consumption,
which helps in fair energy cost allocation. Thus, it is widely being used in
residential buildings and apartments. High emphasis on increasing the building
energy efficiency and reduction of energy cost has resulted in increased
acceptance of heat meters. In commercial buildings, with multiple occupants,
the use of heat meters is becoming increasingly popular.
Segmentation
The
heat meter market has been segmented based on type, connectivity, and end user.
By
type, the heat meter market has been segmented into mechanical heat meter and
static heat meter.
By
connectivity, the heat meter market has been segmented into wireless and wired.
By
end user, the heat meter market has been segmented into commercial, industrial,
residential, and others.
Regional
Analysis
Region-wise,
the heat meter market has been segmented into North America, the Middle East
& Africa (MEA), South America, Europe, and Asia Pacific (APAC).
The
APAC region is witnessing rapid progress in terms of manufacturing activity,
which has increased energy requirements. Mounting focus on energy conservation
in the region has augmented the demand for heat meters. Moreover, various
regulations pertaining to energy conservation exercised in the region has
favored market growth. The APAC market captured the largest market share in
2017 and is anticipated to retain its lead throughout the assessment period.
North
America has secured the second spot in the heat meter market. Enactment of
various energy conservation programs which encourage the adoption of heat
meters has been instrumental in the expansion of the market.
Europe
heat meter market is driven by supportive regulations and energy conservation
efforts. Various regulations which mandate the replacement of old heat meters
are likely to affect the market growth positively. Investment in heat meter
projects in the MEA region is likely to boost its growth over the forecast period.
Competitive
Landscape
Qundis
(Germany), Diehl (Germany), Sontex (Switzerland), Landis+Gyr (Switzerland),
Zenner (US), Honeywell Elster (US), Itron (US), Kamstrup (Denmark), Siemens AG
(Germany), and Danfoss (Denmark) are the notable players in the heat meter
market.
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