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. Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19
on Heat Meter Market is
included in the present report. 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.
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.
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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