Heat Meter Market 2021: COVID-19 Impact Industry Trends and Forecast to 2023
Komal BoudhhMarket Highlights:
Heat meter is a device which measures the consumed or transmitted heat energy. The major component of heat meter consist of flow meter, heat carrier input and output temperature sensors and an electronic calculator. By implementing a heat meter, the end-user only pays for heat consumed. Hence, given the flow and temperature data, the meter can calculate the amount of heat consumed by a commercial or residential building. There are also certain legislative and regulatory framework needed for installation of heat meter. Residential segment is estimated to dominate the heat meter market during the forecast period.
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.
The global heat meter market is expected to grow at ~ 7.25% CAGR during the forecast period.
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Market Research Analysis:
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).
Scope of the Report:
This report provides an in-depth analysis of the global heat meter market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific (APAC) and Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the heat meter system market by its type, connectivity, end-user, and by region.
By Type
- Mechanical Heat Meter
- Static Heat Meter
By Connectivity
- Wired
- Wireless
By End-User
- Residential
- Commercial
- Industrial
- Others
By Regions
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
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