Gas Meters Market Value Expected to be US$ 4.72 Bn in 2024 at a CAGR of 8.1% between 2016 and 2024: Transparency Market Research

Transparency Market Research  has published a new report titled Gas Meters Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, the global gas meters market was valued at US$ 2,306.0 Mn in 2015 and is expected to expand at a CAGR of 8.1% to reach US$ 4,722.2 Mn in 2024.

On the basis of region, the global gas meters market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

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Asia Pacific dominated the global gas meters market in terms of gas meters sales volume and revenue, in 2015. It is expected to expand at a healthy growth rate between 2016 and 2024 in terms of gas meters revenue. China, India, Japan, Australia, and ASEAN countries are some of the major countries in the Asia Pacific gas meters market. Increasing industrialization in the region have augmented the sales of gas meters. Increasing consumption of natural gas in the region has also boosted the sales of gas meters in Asia Pacific.

Europe followed Asia Pacific in terms of market share of the global gas meters market on the basis of gas meters sales volume and revenue, in 2015. Countries such as the U.K., Germany, France, Italy, and Russia are the major players in the Europe gas meters market. Implementation of strict regulations regarding the usage of smart meters and high adoption rate of natural gas as primary fuel in the region have boosted the demand for gas meters in Europe.

North America closely followed Europe in terms of gas meters sales volume and revenue, in 2015. Countries such as the U.S. and Canada are major players in this region. Increasing industrial activities, shale gas production, district heating and cooling systems, and higher adoption rate of natural gas at industrial facilities have boosted the North America gas meters market.

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Middle East & Africa and Latin America together held market share of around 20% of the global gas meters market in 2015. The gas meters market in Middle East & Africa is expected to ehibit steady growth rate in terms of gas meters sales volume during forecast period. Latin America gas meters market is also expected to demonstrate stable growth over the coming years. Countries such as Qatar, Oman, U.A.E, Brazil, Mexico, and Egypt are some of the major players in gas meters market in Middle East & Africa.

Some of the major players operating in the global gas meters market include ABB, AEM S.A., APATOR SA, Badger Meter Inc., Betar Ltd., Diehl Gas Metering GmbH, EDMI Ltd., Elster GmbH, General Electric, Itron Inc., Landis+Gyr, Honeywell Process Solutions Inc., Qianwei Kromschroder Meters Chongqing Co. Ltd., Chongqing Shancheng Gas Equipment Co. Ltd., and Dandong Dongfa (Group) Co. Ltd. among others.

Long-term Outlook: The global gas meters market was valued at US$ 2,306.0 Mn in 2015 and is expected to expand at a CAGR of 8.1% to reach US$ 4,722.2 Mn in 2024. Asia Pacific is expected to dominate the global gas meters market during the forecast period.

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