The Global Heat Meter Market is projected to reach USD 1.32 billion by 2028, growing at a CAGR of 6.5% during the forecast period. A heat meter is also called as a flux calorimeter. It is a tool that measures thermal energy supplied by a source or delivered to a sink by measuring the heat transfer fluid flow rate and changes in its temperature between the system's outflow and return legs. It is usually used for the measurement of boiler yield and heat taken by the system in industrial plants and for the measurement of heat supplied to consumers by district heating schemes.
Global Heat Meter Market
The global heat meter market is expected to experience significant growth in the upcoming years, owing to the rising number of digitalization of power utilities, increasing adoption of district heating systems, growing demand for accurate and reliable heat metering system, and rapid development of commercial as well as residential applications. Supportive government rules and regulations relating to energy efficiency along with the rising concerns related to energy conservation are expected to further fuel the global heat meter in the years to come. However, the huge capital cost of heat meters may hamper the growth of the heat meter market in the future.
Based on type, the heat meter market is segmented into static, mechanical, vortex and others. Static heat meter is expected to hold a prominent share in the global heat meter market. Increasing implementation of automated and radical construction techniques combined with the growth of district heating systems across industrial and commercial formations is anticipated to boost demand for the static heat meter. Growing demand for combined heating and cooling application with high precision data recording with static measurement principal will encourage product penetration. Increasing demand for regeneration technologies along with high data precision recording mechanism will definitely influence the product growth.
Based on connectivity, the wireless connection segment of the heat meter market is expected to grow at a high rate during the forecast period. Growth of this segment is attributed to the development of technologies, low cost of installation and maintenance, higher reliability, and ease of use.
Residential heat meters segment held the largest share in the heat meter market based on end users and is projected to grow at the highest rate during the forecast period. The growth is attributed to the growing demand for home automation system with effective planning & management of energy consumption. Increasing flexible integration with innovative metering and management systems are expected to complement the business growth. Increasing consumer awareness and the growing installation of heat meter have empowered residents to have control over their energy consumption. Residential heat meters have witnessed a large-scale adoption in the residential sector, which includes large multifamily buildings, luxury apartments, and single-family homes.
Global Heat Meter Market
Asia Pacific region is expected to lead the global heat meter market due to the upsurge in construction activities and change in climatic conditions. Increasing demand for effective energy management systems along with the growing need for individualized metering across residential buildings is expected to boost the heat meter market growth. Heat meters offer a feature such as billing accuracy, cost saving, energy consumption monitoring, and various communication options are some of the key features which make its adoption preferable. The increasing need for reliable and accurate metering systems coupled with the deployment of internet of things platform will further boost the heat meter market growth in this region. In addition, China's fast urbanization has increased the demand for thermal comfort, which is likely to drive the heat meter market. Europe is also expected to have a significant share in the heat meter market. This is mainly due to the effect of national legislation based on the Energy Efficiency Directive (EED) 2012 published in several EU member states. The EU member states are mandated to have national regulation based on the EED 2012, which implies the installation of measurement devices for individual apartment billing. In addition, heat meter devices will be included within several projects for new construction and renovation of district heating networks complying with EU standards in the short-term future, with Poland, Denmark, and France providing some of the largest volumes for heat meter shipments.
Key Factors Impacting the Grwoth of Heat Meter Market:
- Rising number of digitalization of power utilities
- Increasing adoption of district heating systems
- Rapid development of commercial as well as residential applications
- Supportive government rules and regulations relating to energy efficiency along with the rising concerns related to energy conservation
- Huge capital cost of heat meters
Key Developments in the Heat Meter Market:
- In January 2019, Diehl Stiftung & Co. KG(Germany), one of the prominent manufacturer of the heat meter has acquired, New Engineering and Support Center(Hungary), for expanding the regional footprint and to provide a better quality of the products to the global customers
- In August 2018, Schlumberger Limited(US), announced that they have entered into a definitive contract for Shearwater to acquire WesternGeco's geophysical services product line Schlumberger's seismic marine procurement assets and activities
What Does This Report Provide?
This report provides a detailed understanding of the global heat meter market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the heat meter market during the forecast period and an in-depth analysis of the leading companies operating in the heat meter market.
By End User:
- North America
- By Country (US, Canada, Mexico)
- By Country (Germany, UK, France, Spain, Rest of Western Europe)
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Country (China, Japan, India, Rest of Asia Pacific)
- By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
- By Region (South America, Africa)
Companies Covered: Major Companies profiled in the report which are key players in the global heat meter market include Diehl, Kamstrup, Qundis, Landis+Gyr, Haifeng, Zhifang, Sontex, Siemens, Engelmann, Zenner, MWA Technology Ltd., Quadlogic Meters Canada Inc., and WeihaiPloumeter Co. Ltd.
Years Considered In The Study
CAGR % (2019-2028)
Reasons To Buy This Report:
- Market size estimation of the global heat meter market on a regional and global basis
- Unique research design for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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