Heat Meters Market: Overview
The demand for heat meters market is likely to see an upswing during the forecasting period 2018 – 2028 due to rapid advancement in technology accompanied with the change in a lifestyle across the world. Urbanization which has shrouded the world has found various ways to lead a comfortable ways irrespective of weather. Rising espouse of district heating systems along with rapid expansion of commercial and residential establishment is anticipated to boost up the sales of heat meters in various regions of the world. Scandinavian countries such as Denmark and Norway are majorly known to have installed heat meters market in order to receive hot water.
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Almost 60% of the households in these countries have them installed. The heat meters market was worth at US$760 mn in the base year and is expected to cross US$ 8.5 mn by the end of the assessed period.
The global heat meters market can be segregated on the basis of technology, product, application, and region. On the basis of product the market is further divided into ultrasonic, vortex, and others. On the basis of technology the market is split into mechanical and static. The heath meters market finds its application in residential and commercial areas. Commercial areas is known to hold a majority share due to quick development of college/university, office buildings, government buildings, hotels, and others in recent years.
The analysts of the report have provided a complete 360 degree synopsis of the market, thus helping the readers to understand the insight of the market. Analysts of this report have conducted extensive research such as collecting information from the primary and secondary research source. Conclusion of the report has been done on the basis of Porter’s Five Point analysis, thus helping entrepreneurs to take important step in the market. The report provides various market dynamics such as opportunities, technological advancement, trends, and restrains which might impact the growth rate of the market in years ahead.
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Heat Meters Market: Trends and Opportunities
Polices laid down by government of various countries towards having an energy efficient heat meters market installed in buildings is likely to support the growth of heat meters market in years to come. For instance in the U.S The American society of Heating, Refrigerating, and Air conditioning Engineers in 2013 fixed energy standards, according to which there has to be a sub metering in buildings higher that 25000 ft for energy sustainability and efficiency. Increasing stress on effective energy management technology coupled with rising demand for accurate and reliable metering system is prognosticated to steer the heat meters market share.
Rapid industrialization across the world is likely to push the global heat meters market. It is noticed that ultrasonic heat meters to gain major traction due to dirt restraint, high data accuracy, durability, long-term stability, and low energy consumption. Surge in demand for home automation system accompanied with effective planning and management of energy consumption is likely to increase the sales for mechanical heat meters market.
Heat Meters Market: Market Potential
One of the major player in the market, Alliant Energy has recently gained a lot criticism from its customer in the U.S due to high electricity bills. Company has said it is the hot weather which has actually raised the electric bills.
Heat Meters Market: Regional Outlook
On the basis of geography, the global heat meters market is stretched across Europe, North America, Asia Pacific, and Rest of the world. Amongst these North America is likely to hold the major share owing to the rules laid out by the U.S Department of Energy. It is anticipated that by the end of 2024, the U.S will set past the 510 thousand units of heat meters. Norms implemented by government in European countries are likely to stimulate the growth of the market. Germany contributes the most among other European countries. It is predicted that China from the Asia Pacific is expected to see a rise in demand for heat meters market.
Heat Meters Market: Competitive Landscape
Players are focusing on the research and development to obtain more efficient product. Strategies such as merger and acquisition are be taken up my major players to extend their supplies. Some of the major companies in the market are Landsis+Gyr, Siehl, Qundis, Zenner, Secure Meters, and Siemens.
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