Published Date : Jul 23, 2018
Albany, New York, July 23, 2018: The global gas meter market is forecast to grow considerably in the coming years and so will the competition witnessed in the market. The presence of several players at a regional level has rendered the market fragmented. A detailed study on the competitive dynamics and prevailing trends in the market is included in a report, titled “Gas Meters Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2017 – 2024.” It is currently available for sale on MarketResearchReports.biz. The report offers a comprehensive overview, covering growth drivers and restraints influencing the market. It also offers insights into potential threats and opportunities.
According to the report, some of the leading companies in the global gas meters market will adopt strategies to expand their geographical reach. Through this, they can achieve a larger customer base thus emerging strongly amidst the prevailing competition. Their expansion strategies are likely to result in accelerated gains for the global gas meter market. The report therefore profiles some of the leading market players to present an executive-level blueprint.
In the coming years, the market will gain from the rising use of natural gas as a source of energy. Hence as it increasingly replaces crude oil, the global gas meter market will witness significant opportunities to capitalize on. Due to soaring environmental concerns, natural gas is replacing crude oil across diverse application. This is also because natural gas emits very less byproducts into the environment after combustion. In addition to this, the increasing demand for minimizing losses during distribution and transmission of gas will fuel the demand for gas meters over the report’s forecast period.
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Recent technological advancements are expected to give significant impetus to the gas meter market. For instance, the market is expected to gain immensely from the advent of smart meters, which demonstrate a robust technology that records energy consumption at regular intervals and then communicates it to utility companies. In doing so, smart meters help utility companies in billing and monitoring. Furthermore, this functionality minimizes the risk of incorrect or missed readings that are so common in case of manual readings.
Spurred by aforementioned factors, the demand for smart meters is expected to increase considerably in the coming years. Additionally, implementation of regulations favoring the adoption of gas meters will create attractive growth opportunities for the market. On the downside, replacing traditional meters with gas meters may incur high cost, which could hinder the global gas meter market to an extent. Furthermore, concerns pertaining to effectively handling and managing large volumes of data generated by smart meters pose challenge to the market.
Some of the leading companies operating in the global gas meter market are ABB, Elster GmbH, Itron Inc., Diehl Gas Metering GmbH, APATOR SA, and EDMI Ltd.
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