Heat Meter Market Size

Heat Meter Market size was valued at USD 1.36 billion in 2024 and is likely to exceed USD 3.24 billion by the end of 2037, expanding at over 6.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of heat meter is evaluated at USD 1.44 billion.

As a result of the growing electricity demand, new rules, and sustainable energy sources, grid complexity is increasing. Smart heat meters offer a range of additional benefits, including identification of energy thefts, reduced business losses, and more efficient revenue administration. Energy use by customers using smart meters can be monitored and thus reduced waste. During the projected period, these factors are expected to support market growth. For example, a study by the International Energy Agency shows that in 2022, there was an increase of 2.3% in Latin America's energy consumption for the second consecutive year, but it is significantly lower than its growth from 2021 onwards.

To address incorrect billing of a single heat meter to record the heat consumption of the whole building, there has been a significant demand for submetering or individual heat metering. Submetering entails the installation of a special heat meter for each residence to ensure that it is correctly recorded as heating use and generated with the appropriate amount of bills. This is predicted to drive the growth of the market in the forecast period.