The report “Power Metering Market by Application (Residential, Commercial & Industrial), by Phase, by type (Smart, Digital, Analog, & Others), & by Region (North America, South America, the Middle East Africa, APAC, & Europe) – Global Trend & Forecast to 2020”defines, segments, analyzes, and forecasts the global power metering market. It also identifies the driving and restraining factors of the power metering market, with an analysis of trends, opportunities, burning issues, and winning imperatives.
Browse 96 market data tables and 52 figures spread through 208 pages and in-depth TOC on “Power Metering Market”
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The market on the basis of region has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The power metering market is projected to reach USD 17.8 Billion by 2020, at a CAGR of 8.9% from 2015 to 2020.
The market has been further segmented on the basis of major applications into residential application, commercial, and industrial.
The Asia-Pacific power metering market is expected to grow at a high rate in the next five years.
Asia-Pacific is the largest market for power meters. The region, which has done fairly well in the past 10 years, accounted for around 45% of the total market share in 2014. The growth rate has scaled up due to an increase in construction spending, rise in industrial activities, and enhancement of the grid infrastructure of the region.
Residential Application – Major application for the power metering market
Power meters are categorized into three primarily segments, namely, residential, commercial, and industrial applications. The major market is captured by the residential application, which includes the utilization of meters in all households including urban and rural. The commercial application is the second major application which is utilized in various commercial places such as hospitals, schools, and shopping complexes among others. Increasing construction and industrial activities, along with the replacement market of old and technologically outdated meters is the key driver of the market.
The report caters to power meter manufacturers, dealers, and suppliers, raw material providers, consulting companies in the energy and power sector, government and research organizations, government utility providers, private utility providers, private customers, network operators, metering companies, smart grid players, venture capital firms, and investment banks. Digital and analog meters have application and growth in developing economies such as Asia-Pacific and Africa, which are improving and enhancing their grid infrastructure to increase their electrification rate. These drivers are expected to push the power metering market size from USD 10,795.4 Million in 2014 to USD 17,850.6 Million by 2020. The report provides insights about the major players of the market and the growth strategies adopted by them.
The leading players of the market such as General Electric (U.S.), Itron (U.S.), Toshiba Corp. (Japan), Melrose Plc. (U.K.), and Wasion Group Holdings Ltd. (China) among others have been profiled in this report.
The market was dominated by Asia-Pacific with a share of about 45% in 2014. It is estimated to grow at a CAGR of 9.6% from 2015 to 2020. Europe is expected to be the fastest growing market, at a CAGR of 12.5% during the forecast period. Stringent government regulations to replace digital meters by smart meters would drive the market in the European region.
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