Heat meters market is set to grow on account of rising need for effective power management systems coupled with requirement of individualized metering across residential apartments. Cost saving, accurate billing, multiple communication options and power consumption monitoring are key parameters responsible for product adoption. Furthermore, growing demand for accurate and reliable metering technologies along with integration of IoT devices will enhance the industry landscape.
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Heat Meters Market is predicted to reach over USD 1 billion by 2024.
Rapid expansion of commercial and residential establishments coupled with ongoing investments toward the adoption of effective heating systems will stimulate the heat meters market growth. Favorable energy efficiency policies by respective governments along with growing industry concerns pertaining to carbon emissions will complement the business landscape. As per the climate action plan, the government of Canada in 2009, signed the Paris Agreement and Copenhagen Accord for reducing the GHG emissions by 17% of 2005 levels by 2020.
Ongoing adoption building energy codes and standards coupled with technical advancement of combined heating & cooling systems will foster the commercial heat meters market. Ongoing expansion of service sector along with increasing government funds toward the development & construction of commercial infrastructure will stimulate the business growth. Digitalization of measuring devices for effective metering coupled with the deployment of energy management systems will positively impact the industry outlook.
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Germany heat meters market is predicted to reach over deployment of 1 million units by 2024. Rising adoption of district heating systems owing to changing weather patterns across the region will encourage the product penetration. Stringent regulatory policies pertaining to the adoption of efficient energy systems along with ongoing investments toward the expansion of service sector will amplify the business growth.
Increasing installation of efficient heating systems coupled with rising concerns for secure energy supply will stimulate the Japan heat meters market demand. Introduction of innovative products and technologies on account of ongoing research and development activities by leading industry players will augment the business growth. In addition, stringent government regulations towards limiting carbon emissions along with rapidly growing economy will favor the product penetration.
Ongoing expansion of industrial and commercial buildings across emerging nations coupled with growing adoption of building automation systems will foster the static heat meters market. Technological development toward high precision recording mechanism along with up surging need for trigeneration technology will complement the industry landscape.
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Low power consumption, high durability, stability and data accuracy are some of the key parameters that will accelerate the vortex heat meters market growth. In addition, easy installation and effective performance in extreme pressure and temperature conditions will encourage the product adoption. In addition, low maintenance cost on account of non-movable parts along with precise consumption measurement will enhance the industry outlook.
Key players across the heat meters market include Landis+Gyr, Kamstrup, Danfoss, Diehl, Itron, Engelman, Wecan, Sontex, Huizhong, Techem, Siemens, Quandis, Ista, Zenner, MWA, Secure Meters, Apator, Axioma, Micronics, Sensus and Weihai Ploumeter.