Global Power Metering Market Analysis
Power metering is an equipment that is employed for
measuring as well as monitoring the electrical consumption in industrial and
household areas. These meters provide precise statistics or measurements of the
power or energy consumed as compared to the conventional electric meters. Add
to this, it also provides relevant data metrics unlike the former. These meters
are quickly seen replacing the digital meters across the world due to its level
of efficiency and other key advantages.
Power metering is an equipment that is employed for
measuring as well as monitoring the electrical consumption in industrial and
household areas. These meters provide precise statistics or measurements of the
power or energy consumed as compared to the conventional electric meters. Add
to this, it also provides relevant data metrics unlike the former. These meters
are quickly seen replacing the digital meters across the world due to its level
of efficiency and other key advantages. In order to know the consumption, the
power meter is needed to be placed inside the house or other major places. It
is emerging into the global landscape as a highly reliable and effective
distribution setup system and are being increasingly installed across various
industrial verticals for varied purposes.
Power Metering Market Segmentation
The global Power
Metering Market Size has been segmented on the basis of the following
dynamics: phase, application, and type.
By type, the market includes digital, smart, and
analog.
By phase, the market segments into three phase and
single phase.
By application, the market includes commercial, residential,
and industrial.
Regional
Analysis
The global power metering market covers the following
geographies in its regional segmentation: Asia Pacific, North America, Europe,
and the Rest of the World (RoW).
Asia Pacific stands tall in the global power metering
market with a massive share percentage to its name. The regional market is
projected to grow during the forecast period at a notable pace to cement itself
as one of the key regions the global landscape. The growth of the regional
market can be attributed to the various government projects initiated like the
smart city project in India, which contributes majorly to the growth of the
power metering market in Asia Pacific. Factors like increasing construction
spending, enhancement of the grid infrastructure, and rising industrial
activities in the region are all expected drive considerable demand towards the
market. Also, emerging economies like China and Japan are trying to grab a hold
over the market with their strategical implementations.
The North American market is another leading market in
the global power metering market. The market is experiencing considerable
growth due to the growing infrastructure and the various government projects
Competitive
Landscape
The various key players reported in the global power
metering market are as follows: Melrose Industries Plc. (U.K.), General
Electric (U.S.), Wasion Group Holdings Ltd. (China), Toshiba Corporation
(Japan), Siemens AG (Germany), Itron (U.S.), Eaton Corporation
Plc (Dublin), ABB (Switzerland), and Holley Metering (China).
Related
Reports: http://www.24article.com/microgrid-market-report-2020-global-industry-analysis-opportunity-assessment-and-forecast-to-2023-2.html
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