The global smart gas meter market growth is attributed to increasing penetration of smart gas meters in the next few years owing to government regulation and initiatives, rising demand for gas, rising urbanization across the globe. As per the United Nations (UN) in 2018, 55% of the global population lives in urban areas, which is further expected to increase to 68% by 2050.
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This projection by the UN shows that urbanization combined with the overall growth of the global population could add another 2.5 billion people to urban areas by 2050, with close to 90% of this increase taking place in Asia and Africa. Increasing urban population puts higher pressure on the urban infrastructure for energy saving, and hence the governments of different economies are taking initiatives to meet ever-growing needs of the urban population. The governments of various economies are investing in the smart meter and smart grid projects, which, in turn drives the growth of the smart gas meter market. As per European investment bank, by the end of 2020, the British government has planned to install a smart meter in every home.
Some of the key players operating in the global smart gas meter market include Landis+Gyr, Diehl Stiftung & Co. KG, Elster Group (Honeywell International Inc.), Itron Inc., Eaton Corp., and Flonidan A/S. These players are focusing on enhancing their customer base across the globe by bringing new products in the smart gas meter industry. In addition, the companies are receiving approvals and certifications by the government authorities for the commercialization of their product. For instance, in May 2018, Flonidan A/S received the Commercial Product Assurance (CPA) certification for its UniFlo SMETS2 smart gas meters. With this, the company can provide a dual-energy solution to different utilities in UK, that further contribute to the growth in the company’s revenue in the smart gas market.
Global Smart Gas Meter Market Segmentation
By Equipment Type
By Application
Global Smart Gas Meter Market Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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