Global
Heat Meter Market Overview
Heat meters are generally used in industrial
applications to measure boiler output from a chiller unit. It also finds
extensive use in district heating systems for the measurement of the heat
delivered to consumers. Accurate measurement of heat consumption by heat meters
elevates its demand and subsequently induces market growth. Other important
factors that promote market growth include the rising digitalization of power
utilities, accelerating adoption of district heating systems, mounting demand
for reliable heat metering system, and rapid advancements in commercial and
residential formations. The Global
Heat Meter Market can potentially record a
growth rate of 7.25% during the forecast period (2018-2023).
With the rapidly increasing cost of energy coupled
with rising focus on energy reduction, reliable and accurate metering of
utilities has become necessary in measuring as well as managing energy costs.
Heat meters help calculate the heat energy that is transported, by analyzing
the fluid flow rate along with any temperature change it undergoes from the
outflow to the return flow of the system.
Heat meters also enjoy high demand in the market owing
to their features like low energy consumption, high durability, long-term
stability, and data accuracy. Considerable investments in the expansion of
service sectors around the world are also working in favor of the market. With
that said, the market growth can take a hit in the near future, given the steep
capital costs of heat meters. On the bright side, the booming district heating
infrastructure across the globe seems to hold a lot of weight and can provide
the market with a host of growth opportunities in the following years.
Global
Heat Meter Market Segmentation
The
worldwide market for heat meter has been extensively analyzed with respect to
segments like type, connectivity, and end-user.
Given
the type segment, the market includes static and mechanical. Out of these, the
static segment can attain the fastest growth rate in the market, since these
meters make use of fluidic oscillator principle to provide reliable flow and
energy readings.
Connectivity-wise, the market includes wired and wireless.
Wired heat meter is expected to be the top segment in the market, on account of
the high adoption of wired meters in areas with poor connectivity, consisting
of residential buildings that are connected with district heating.
The
global heat meter market, on the basis of end-user, comprises industrial,
residential, commercial, and others. Commercial segment is all set to amass the
biggest share in the global heat meter market during the given timeframe.
Regional Insight:
Asia
Pacific (APAC), North America, the Middle East and Africa (MEA), and Europe are
the primary markets for heat meter.
The
APAC market for heat meter has noted the highest traction across the globe, on
account of the surge in construction activities coupled with the change in
climatic conditions. Mounting demand for efficient energy management systems,
in addition to the surging need for individualized metering across residential
buildings can further stimulate the growth of the heat meter market in the
region.
North
America was identified as the second-most profitable market for heat meter in
2018. The United States (U.S.) is the most lucrative market for heat meter in
the region, backed by the soaring number of government policies along with
guidelines for utilities for metering coupled with the increasing focus on
reduction of cost and energy efficiency.
The Europe heat
meter market is expanding on the back of favorable regulations as well as
energy conservation efforts. Numerous regulations mandating the replacement of
old heat meters can also work in favor of the regional market. MEA is noting
sizeable investments in heat meter projects, which can benefit the market over
the conjectured period.
Leading Players
Leading vendors
in the global heat meter market include Honeywell
Elster (US), Landis+Gyr (Switzerland), Sontex (Switzerland), Diehl (Germany),
Zenner (US), Danfoss (Denmark), Qundis (Germany), Itron (US), Kamstrup
(Denmark), Siemens AG (Germany), to name a few.
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