Global Heat Meter Market Overview
Latest research “The global heat meter market is projected to reach USD 1,218.9 million by 2023 from an estimated USD 849.1 million in 2018, at a CAGR of 7.50%. This growth can be attributed to the increasing mandatory legislative requirement to install heat meters for accurate measurement of heat consumption. “
Primary Research :
This research study involved the use of extensive secondary sources such as press releases, investment reports, industry white papers, presentations, district heating associations, journals, database, and other publicly available sources to identify and collect information useful for a technical, market-oriented, and commercial study of the heat market. The primary sources include several industry experts from the core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standards and certification organizations from companies, and organizations related to all the segments of this industry’s value chain.
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The residential segment is expected to hold the largest share of heat meter market, by type, during the forecast period.
The residential segment is estimated to dominate the heat meter market in 2018 and is projected to have the largest market share during the forecast period. Increase in the number of residential dwellings across the globe year on year has made a positive impact on heat meter market during the forecast period. Residential spaces connected to district heating and cooling networks necessarily require heat meters as it is by far the best practice for generating energy bills based on consumption.
Target Audience:
- Government and Research Organizations
- Heat Meters Manufacturers
- Maintenance and Service Providers
- Technology Standard Organizations, Forums, Alliances, and Associations
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The wireless connection segment is expected to be the fastest growing segment of the heat meter market, by connectivity, during the forecast period.
The wireless connection segment accounted for the highest CAGR during the forecast period. Growth of this segment can be attributed to the advancement in technologies, lower cost of installation and maintenance, higher reliability, and ease of use. Europe region is expected to witness a high growth in wireless connection segment during the forecast period because of the increased spending in connectivity technologies infrastructure.
Asia Pacific: The leading market for heat meter
In this report, the heat meter market has been analyzed with respect to four regions, namely, Americas, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is estimated to dominate the global heat meter market in 2018 owing to the growth in district heating infrastructure, construction activities, rise in population, and climatic change. The demand for heat meters in Asia Pacific is growing, with about 5.5 million installations in China in 2017.
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Key Market Players:
Some of the key players Kamstrup (Denmark), Danfoss (Denmark), Siemens (Germany), Diehl (Germany).
