Market Research Future (MRFR) has recently published a comprehensive report on the global heat meter, outlining the key trend and patterns that can impact the market growth over the forecast period of 2018-2023. MRFR–s analysis has predicted a CAGR of 7.25% over the forecast period. Global and growth analysis for the global and regional levels. It involves the current market status with some changing trends that can affect the Heat Meter market growth rate.
Also Read: http://www.marketwatch.com/story/heat-meter-market-2020-development-status-current-trends-future-growth-industry-updates-challenges-opportunities-applications-demand-and-trends-by-forecast-2023-2020-08-24
Industry Highlights
In recent years, the heat meter market has grown considerably, in part, due to consistent demand from emerging economies. The regulatory framework in multiple countries mandates the installation of heat meters to curb energy consumption across diverse areas. Energy conservation has topped the list of concerns of most economies which has increased interest in heat meters. Not only are heat meters used in community centres, but they are increasingly being adopted by the residential sector for calculation of heat energy distribution. Developing heating infrastructure ibn various nations have boosted the growth of the heat meter market. In multi-family buildings and apartments, heat meters help in the identification of total energy consumption, which helps in fair energy cost allocation. Thus, it is widely being used in residential buildings and apartments.
High emphasis on increasing the building energy efficiency and reduction of energy cost has resulted in increased acceptance of heat meters. In commercial buildings, with multiple occupants, the use of heat meters is becoming increasingly popular. They aid in sub-metering purpose and help in the determination of energy consumed by each occupant. It also raises awareness among individuals to lower their energy consumption. The growing number of commercial establishments is, in fact, a key factor fostering market growth. Other obvious factors include rapid expansion of industries which generate massive demand for heat meters. On the other hand, market growth might be hindered by high costs associated with heat meters.
Competitive Landscape
Qundis (Germany), Diehl (Germany), Sontex (Switzerland), Landis+Gyr (Switzerland), Zenner (US), Honeywell Elster (US), Itron (US), Kamstrup (Denmark), Siemens AG (Germany), and Danfoss (Denmark) are the notable players in the heat meter market.
Segmentation
The Heat Meter Industry has been segmented based on type, connectivity, and end user.
By type, the heat meter market has been segmented into mechanical heat meter and static heat meter.
By connectivity, the heat meter market has been segmented into wireless and wired.
By end user, the heat meter market has been segmented into commercial, industrial, residential, and others.
Regional Analysis
Region-wise, the heat meter market has been segmented into North America, the Middle East & Africa (MEA), South America, Europe, and Asia Pacific (APAC).
The APAC region is witnessing rapid progress in terms of manufacturing activity, which has increased energy requirements. Mounting focus on energy conservation in the region has augmented the demand for heat meters. Moreover, various regulations pertaining to energy conservation exercised in the region has favored market growth. The APAC market captured the largest market share in 2017 and is anticipated to retain its lead throughout the assessment period.
North America has secured the second spot in the heat meter market. Enactment of various energy conservation programs which encourage the adoption of heat meters has been instrumental in the expansion of the market.
Europe heat meter market is driven by supportive regulations and energy conservation efforts. Various regulations which mandate the replacement of old heat meters are likely to affect the market growth positively. Investment in heat meter projects in the MEA region is likely to boost its growth over the forecast period.
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