by The global Heat Meter Market is estimated to be valued at US$ 1.30 Bn Or Mn in 2023 and is expected to exhibit a CAGR Of 7.9% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
A heat meter is a device that measures the volume of heat, or thermal energy, used in a building or facility supplied from a heat source such as district heating systems, boilers, water heaters and others. The meters are installed in the system return line and measure the temperature difference across the metering point, thereby calculating the volume of heat used. Heat meters provide benefits such as accurate measurement of heat usage, billing residents based on actual consumption and improving energy efficiency by enabling conservation efforts. They also encourage energy-efficient habits among consumers.
Market key trends:
One of the key trends in the heat meter market is the integration of heat meters with smart building technologies. Modern heat meters are being developed with networking and communication capabilities that allow remote monitoring and data collection. Smart heat meters integrated with building management systems help collect granular consumption data that aids energy audits and identification of efficiency improvement opportunities. They also enable demand response by automatically adjusting heat levels based on price signals. The data from networked heat meters is useful for utilities in load forecasting and distribution planning. Advanced metering infrastructure is driving the adoption of networked smart heat meters for smart energy management applications in commercial, public and residential buildings.
Porter’s Analysis
Threat of new entrants: Low startup costs and lack of major economies of scale makes the threat of new entrants moderate in the heat meter market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of multiple players offering similar products in the heat meter market.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute components and bargaining power of buyers in the heat meter market.
Threat of new substitutes: Threat of substitutes is low as heat meters have applications that are difficult to replace.
Competitive rivalry: The heat meter market features strong competition between numerous global and regional players.
Key Takeaways
The Global Heat Meter Market Size is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period 2023 to 2030, due to increasing demand for energy efficiency initiatives across the globe.
Regional analysis: Europe dominates the heat meter market with the largest share, followed by Asia Pacific and North America. Europe and Asia Pacific are expected to be the fastest growing markets due to increasing replacement of outdated systems and high installation of new heating systems in buildings.
Key players operating in the heat meter market are Kamstrup, Danfoss, Qundis, Itron, Zenner, Engelman, Ista, Landis+Gyr, Diehl, Sontex, Brunata, Apator, Techem, Techno-Trade, GWF MessSysteme, Weihai Ploumeter, Axioma Metering, Zhifang Huaxu, Sensus Metering Systems, Emerson. Key players are focusing on new product launches and partnerships with local players for geographical expansion.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
