Heat Meter Market (By Type: Turbine Meters, Ultrasonic Meters, Vortex Meters, and Others; By Connectivity: Wired and Wireless; By Technology: Mechanical and Static; By Application: Residential, Commercial and Public, and Industrial) - Global Market Size, Share, Growth, Trends Analysis, Regional Outlook and Forecasts 2023 - 203
The global heat meter market size accounted for USD 1 billion in 2022, and it is expected to hit around USD 2.01 billion by 2032, poised to grow at a CAGR of 7.30% from 2023 to 2032.
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Mandatory regulations in some countries that require installation of heat meters have turned out to be a major driver for the progress of the worldwide heat meter market. Moreover, administrations around the world are developing guidelines to encourage the usage of energy conservation, because of energy import carried out in numerous developing economies.
The European Union member nations are mandated to have a nationwide regulation grounded on the EED 2012, that implies the setting up of measurement equipment’s for separate apartment billing. Furthermore, heat meter equipment’s must be included inside several schemes for new structure and renovation of area heating networks conforming with EU standards in the immediate future, with Poland, Denmark,and France providing some of the biggest volumes for heat meter consignments.
In other nations, regulatory modification is currently taking effect. For instance, in Russia all big structures on the district heating array must contain a hub (district) meter connected. The Canadian market has observed increased demand for sub-metering thermal energy and seems to be adhering to endorsements from organizations like The Pacific Institute for Climate Solutions which has suggested thermal sub-metering as a way to accomplish energy management and cost regulation.
The technological advancement has today changed the entire usability of heat meters. There are smart heat meters with billing meters designed to offer landlords and service providers a reliable, cost-effective and secure metering solution. This brings the customer a feature-rich and intuitive system which provides information to make informed decision in their energy usage. The credit billing mode and pre-payment mode options are the features among them which indirectly enable the consumer to increase their saving by heat conservation.
The U.S. heat meter market size was valued at USD 0.22 billion in 2022 and is projected to be worth around USD 0.45 billion by 2032, at a CAGR of 7.30 from 2023 to 2032.
North America is Estimated to be the Largest Market for Heat Meter
The comprehensive research account covers substantial projections and inclinations of heat meter throughout chief regions encompassing Africa, Asia Pacific, Europe, Latin America, North America, and Middle East.By region, heat meter market is led by Asia Pacific due to high urbanization, strong growth in construction activities, and availability of latest metering products. North America accounted for successive highest stake primarily due to availability of latest products, high requirement for energy monitoring, and developed construction sector. Europe is projected to advance at top-most CAGR predominantly due to high demand from new markets such as Turkey, Russia, and Germany. African, South America, and Middle Eastern region is expected to exhibit note-worthy growth in the projected time-frame.
Report Highlights | Details |
Growth Rate from 2023 to 2032 | CAGR of 7.30% |
Market Size in 2023 | USD 1.07 Billion |
Market Size by 2032 | USD 2.01 Billion |
Base Year | 2022 |
Historic Data | 2020 to 2021 |
Forecast Period | 2023 to 2032 |
Segments Covered | Type, Connectivity, Technology, Application |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Companies Mentioned | Weihai Ploumeter Co. Ltd., Landis + Gyr, Quadlogic Meters Canada Inc, Kamstrup, Micronics Ltd, MWA Technology Ltd, Qundis, Apator S.A., Qundis, Sontex SA, Siemens AG |
COVID-19 Impact on Global Heat Meter Market
The corona virus pandemic is expected to have a major impact on the heat meter industry. The output of many manufacturers is expected to decline due to closure of factories. Heat meters have applications in multiple industries for measuring boiler output from a heater or conversely, the cooling output from a chiller unit. Residential properties are a major source of end users for heat meters. However, the disruption of construction sector due to COVID-19 pandemic has resulted is expected to have a negative impact on the sale of heat meters. The luxury residential construction industry is going through a difficult phase coupled with ambiguous recovery timespan. Companies with low liquidity are finding it difficult to sustain in this hour of crisis. The declining employment rate will also impact the buying decisions of consumers. Lockdown measures have resulted in halting of rollout of new products especially in the smart heat meter domain. On the contrary, the demand for software is expected to show an upward trend in the near future.
Significant Market Trends:
Ultrasonic Meters Segment Reported Foremost Market Stake in 2022
The ultrasonic meters segment displayed a major share in the worldwide heat meter market in 2022. High durability and accuracy of the ultrasonic meters are expected to boost the growth of the segment in the near future. Vortex Meters are expected to grow at highest CAGR within the forecast time-duration.
Static Segment Dominated the Market Revenue By Technology in 2022
Static technology accounted for the highest share in the target industry due to increasing demand for combined cooling and heating applications.
Residential Segment Will Dominate the Heat Meter Market Revenue By Application
Factors such as rapidly increasing demand for home automation systems are driving growth of the segment. Industrial segment is expected to grow at highest CAGR within the forecast time-duration.
The companies focusing on research and development are expected to lead the global heat meter market. Leading competitors contending in global heat meter market are as follows:
In order to well recognize the present status of heat meter, and policies implemented by the foremost nations, Precedence Research projected the future progress of the heat meter market. This research report bids quantitative and qualitative insights on heat meter market and valuation of market size and progress trend for probable market segments.
Major Market Segments Covered:
By Type
By Connectivity
By Technology
By Application
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Heat Meter Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
Chapter 5. COVID 19 Impact on Heat Meter Market
5.1. Covid-19: Heat Meter Industry Impact
5.2. Heat Meter Business Impact Assessment: Covid-19
5.2.1. Services Challenges/Disruption
5.2.2. Market Trends and Heat Meter Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Heat Meter Market Players to deal with Covid-19 Pandemic Scenario
Chapter 6. Heat Meter Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Increasing construction activity in developing regions
6.1.1.2. Changes in the climate conditions
6.1.2. Market Restraints
6.1.2.1. High Cost
6.1.3. Market Opportunities
6.1.3.1. Technological advancements and integration of latest technologies
6.1.3.2. Rapidly increasing awareness regarding energy conservation
Chapter 7. Global Heat Meter Market: Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Heat Meter Market Revenue by Market Players
7.1.1.2. Heat Meter Market Revenue Market Share by Market Players
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Geographic Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Market Players Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of End-users
Chapter 8. Global Heat Meter Market, By Type
8.1. Heat Meter Market, by Type, 2023-2032
8.1.1. Turbine Meters
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Ultrasonic Meters
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Vortex Meters
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Heat Meter Market, By Connectivity
9.1. Heat Meter Market, by Connectivity, 2023-2032
9.1.1. Wired
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Wireless
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Heat Meter Market, By Technology
10.1. Heat Meter Market, by Technology, 2023-2032
10.1.1. Mechanical
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Static
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Heat Meter Market, By Application
11.1. Heat Meter Market, by Application, 2023-2032
11.1.1. Residential
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Commercial and Public
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Industrial
11.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Heat Meter Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue Forecast by Type(2020-2032)
12.1.2. Market Revenue Forecast by Connectivity (2020-2032)
12.1.3. Market Revenue Forecast by Technology (2020-2032)
12.1.4. Market Revenue Forecast by Application (2020-2032)
12.1.5. U.S
12.1.5.1. Market Revenue Forecast (2020-2032)
12.1.6. Canada
12.1.6.1. Market Revenue Forecast (2020-2032)
12.2. Europe
12.2.1. Market Revenue Forecast by Type (2020-2032)
12.2.2. Market Revenue Forecast by Connectivity (2020-2032)
12.2.3. Market Revenue Forecast by Technology (2020-2032)
12.2.4. Market Revenue Forecast by Application (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue Forecast (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue Forecast (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue Forecast (2020-2032)
12.2.8. Rest of EU
12.2.8.1. Market Revenue Forecast (2020-2032)
12.3. Asia Pacific (APAC)
12.3.1. Market Revenue Forecast by Type (2020-2032)
12.3.2. Market Revenue Forecast by Connectivity (2020-2032)
12.3.3. Market Revenue Forecast by Technology (2020-2032)
12.3.4. Market Revenue Forecast by Application (2020-2032)
12.3.5. China
12.3.5.1. Market Revenue Forecast (2020-2032)
12.3.6. India
12.3.6.1. Market Revenue Forecast (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue Forecast (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue Forecast (2020-2032)
12.4. LATAM
12.4.1. Market Revenue Forecast by Type (2020-2032)
12.4.2. Market Revenue Forecast by Connectivity (2020-2032)
12.4.3. Market Revenue Forecast by Technology (2020-2032)
12.4.4. Market Revenue Forecast by Application (2020-2032)
12.4.5. Brazil
12.4.5.1. Market Revenue Forecast (2020-2032)
12.4.6. Rest of LATAM
12.4.6.1. Market Revenue Forecast (2020-2032)
12.5. Middle East and Africa (MEA)
12.5.1. Market Revenue Forecast by Type (2020-2032)
12.5.2. Market Revenue Forecast by Connectivity (2020-2032)
12.5.3. Market Revenue Forecast by Technology (2020-2032)
12.5.4. Market Revenue Forecast by Application (2020-2032)
12.5.5. GCC
12.5.5.1. Market Revenue Forecast (2020-2032)
12.5.6. North Africa
12.5.6.1. Market Revenue Forecast (2020-2032)
12.5.7. South Africa
12.5.7.1. Market Revenue Forecast (2020-2032)
12.5.8. Rest of MEA
12.5.8.1. Market Revenue Forecast (2020-2032)
Chapter 13. Company Profiles
13.1. Weihai Ploumeter Co. Ltd.
13.1.1. Company Overview, Business Information, Regional Presence
13.1.2. Product Portfolio Analysis
13.1.2.1. Product Details, Specification, Connectivity
13.1.3. Revenue, Price, and Gross Margin
13.1.4. Recent Developments and Strategies
13.2. Landis + Gyr
13.2.1. Company Overview, Business Information, Regional Presence
13.2.2. Product Portfolio Analysis
13.2.2.1. Product Details, Specification, Connectivity
13.2.3. Revenue, Price, and Gross Margin
13.2.4. Recent Developments and Strategies
13.3. Quadlogic Meters Canada Inc
13.3.1. Company Overview, Business Information, Regional Presence
13.3.2. Product Portfolio Analysis
13.3.2.1. Product Details, Specification, Connectivity
13.3.3. Revenue, Price, and Gross Margin
13.3.4. Recent Developments and Strategies
13.4. Zenner International GmbH & Co. KG
13.4.1. Company Overview, Business Information, Regional Presence
13.4.2. Product Portfolio Analysis
13.4.2.1. Product Details, Specification, Connectivity
13.4.3. Revenue, Price, and Gross Margin
13.4.4. Recent Developments and Strategies
13.5. Kamstrup
13.5.1. Company Overview, Business Information, Regional Presence
13.5.2. Product Portfolio Analysis
13.5.2.1. Product Details, Specification, Connectivity
13.5.3. Revenue, Price, and Gross Margin
13.5.4. Recent Developments and Strategies
13.6. Micronics Ltd
13.6.1. Company Overview, Business Information, Regional Presence
13.6.2. Product Portfolio Analysis
13.6.2.1. Product Details, Specification, Connectivity
13.6.3. Revenue, Price, and Gross Margin
13.6.4. Recent Developments and Strategies
13.7. MWA Technology Ltd
13.7.1. Company Overview, Business Information, Regional Presence
13.7.2. Product Portfolio Analysis
13.7.2.1. Product Details, Specification, Connectivity
13.7.3. Revenue, Price, and Gross Margin
13.7.4. Recent Developments and Strategies
13.8. Qundis
13.8.1. Company Overview, Business Information, Regional Presence
13.8.2. Product Portfolio Analysis
13.8.2.1. Product Details, Specification, Connectivity
13.8.3. Revenue, Price, and Gross Margin
13.8.4. Recent Developments and Strategies
13.9. Apator S.A.
13.9.1. Company Overview, Business Information, Regional Presence
13.9.2. Product Portfolio Analysis
13.9.2.1. Product Details, Specification, Connectivity
13.9.3. Revenue, Price, and Gross Margin
13.9.4. Recent Developments and Strategies
13.10. Sontex SA
13.10.1. Company Overview, Business Information, Regional Presence
13.10.2. Product Portfolio Analysis
13.10.2.1. Product Details, Specification, Connectivity
13.10.3. Revenue, Price, and Gross Margin
13.10.4. Recent Developments and Strategies
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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