power-metering-market
Published

September 2016

Global Power Metering Market Outlook to 2021

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Growth in power demand, due to rising global population, is straining the generation resources and is expected to drive the market for power meters, worldwide. Hence, the need for efficient power metering is now greater than ever. The global power metering market is forecasted to grow to USD XX billion by 2021, form USD XX billion in 2016, at a CAGR of XX%.

Developments in the field of electronics have improved power metering with the introduction of digital and smart power meters, which help monitor power usage accurately. Many utilities and governments around the world are also supporting renewable energy generation through feed-in tariffs, which use special power meters. Such policies and technological developments are expected to help improve the market for power meters.

Market Dynamics

Most countries around the world are facing a rapid population boost. Urbanization is also on the rise, with developing economies leading the way. As global population is increasing and living standards are improving, the need for electricity is also on the rise. However, as power generation resources are becoming scarce, better and efficient ways of distributing the available power with minimal losses, is becoming essential. This results in the need for new and improved power meters, thereby, pushing the electricity meter market forward. Energy theft is a major problem that is affecting the power distribution networks in many countries like India, Mexico, China, Brazil, and Russia. Utilities around the world are planning to introduce smart meters in an attempt to curb this problem, and many have already started smart meter rollout or pre-rollout trials. This presents a huge growth opportunity for the power meter market. Proper power metering also aids in improving the energy efficiency of the transmission & distribution network, by enabling utilities to monitor power transmission and distribution losses, measuring consumer usage trends, checking power thefts, etc. This, in turn, encourages utilities to shift to new and advanced metering systems.

Public opposition to technology improvements is a major factor that is hindering the development of the power metering market. End-users are skeptical about the advantages that technologies like smart meters offer, hence, resist their implementation. Proper awareness programs need to be undertaken by utilities and governments before a technology change can be implemented. The cost of changing to new metering systems usually needs to be borne by the customer, and this is again hampering the implementation of new digital and smart meters, thereby affecting the market.

Market Segmentation

 

                                

*Values given are for indicative purpose only. Real values will be available in the full report.

The global power metering market is segmented based on power supply into - single-phase meters market and three-phase meters market. The end-user market is segmented into residential, commercial, and industrial depending on the meter deployment. The market has also been analyzed based on the application of power meters into - utility metering, and sub-metering, with utility metering constituting the larger share of the market. Based on the technology of the meters, the market has been segmented into - analog meters, digital meters, and smart meters market. The smart meters market shows the fastest growth in this segment. The geographical market segment analysis shows Asia-Pacific to be the fastest growing market.

*Values given are for indicative purpose only. Real values will be available in the full report.

 The major players in the global power metering market are:

  • ABB
  • Aclara
  • Eaton
  • Honeywell
  • Itron
  • Kamstrup
  • Landis+Gyr (Toshiba)
  • Schneider Electric
  • Sensus
  • Siemens

Key Deliverables in the Study:

  • Market Overview -  market analysis and identification of key drivers, restraints, and opportunities.
  • Major trends and economic outlook.
  • Porters five force analysis.
  • A comprehensive summary on the industry sectors and regions poised for the fastest growth.
  • Global power metering market by the power supply, application, end-user, technology and geography.
  • Future outlook of the market.
  • Competitive landscape analysis and profiling of major companies
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