In a recent published report, Kenneth Research has updated the market report for Smart Gas Meter Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Gas Meter Market products.
The Smart Gas Meter Market is anticipated to grow at a notable CAGR over the forecast period on the back of the growing demand for renewable energy from several end user industries, which according to the statistics by the International Renewable Energy Agency (IRENA), reached 2,532,866MW in the year 2019 from 1,223,533MW from the year 2010. Renewable energy is used nowadays in almost each and every industry on the back of the growing concern for the environment and the stringent norms by the government for environmental pollution.
The smart gas meters are one of the best gas monitoring solutions which is now becoming a norm on the account of the increasing concerns over the rapid exhaustion of the natural gases. The adoption of the smart gas meters has been growing in various business and domestic applications. The smart gas meters helps in the better control of the gas consumption. Also, these meters have now become the best solutions for addressing the problems of unaccounted or extensive consumption of natural gas. It has been reported that that the smart gas meters were shipped worth more than USD 1,900 million in the year 2017. This market report highlights the major trends, opportunities and restraints factors that are influencing the market growth. The global smart gas meters market is expected to grow rapidly during the forecast period (2018- 2024).
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The global smart gas meters market has been classified on the basis of its application, product, and regional demand. Based on its application, the market analyzed into commercial, industrial and residential applications. On the basis of its product, the global smart gas meters market has been segmented into turbine gas meters, diaphragm gas meters, rotary gas meters.
Geographically, the global smart gas meters market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Some of the major players in the global smart gas meters market include companies like Aclara Technologies LLC (U.S.), Honeywell International Inc. (U.S.), Landis+Gyr (Switzerland), Xylem, Inc. (U.S.), Itron Inc. (U.S.), Zenner (Germany), MeteRSit (Italy), Flonidan A/S (Denmark), EDMI (Singapore), Apator Group (Poland), DIEHL Metering (Germany), among others.
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