Gas Meter Market Segmentation:
Type Segment Analysis
The smart gas meter segment share in the gas meter market is estimated to cross 56% in the year 2035. The growth of the segment can be attributed to the rising use of smear meters by industries. industries are employing it efficiently carrying out the distribution and transmission of energy while reducing the cost and minimizing the energy consumption. Smart meters provide fantastic insights into how much energy is being used at any one time and how to reduce its usage. With narrow confidence intervals, smart meters save an average of 3.4% of power consumption and 3.0% of petrol used. Both estimations have a statistically significant level of significance.
End User Segment Analysis
Gas meter market from the residential segment is projected to garner significant revenue share of 58% in the year 2035. Growing consumption of gas from the residential sector is expected to boost the segment growth in the market. According to the Energy Information Administration, in 2015, around 58% of households used natural gas, in 2021, around 42% of households used natural gas. In addition to this, the rising need for reducing bill expenses is also expected to boost the growth of the segment. A smart meter saves a typical home 2% on their annual energy expenditures or 354kWh. That may not seem like much, but it's sufficient power to take 115 hot baths or listen to your favorite song on a tablet for the next 35 years.
Our in-depth analysis of the global gas meter market includes the following segments:
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