Transparency Market
Research has published a new market study, titled “Smart Gas
Market - Global Industry Analysis, Size, Share, Growth Trends, and
Forecast 2015 - 2023.” The report says that the global smart
gas market will rise at a stupendous 32.2% CAGR from 2015 to 2023.
Due to this, the market will reach a valuation of US$10.5 bn by the
end of 2023, increasing from US$0.9 bn in 2014.In this report,
factors that affect the shift of the smart
gas market from its current hub of North America to Europe
and further east to the Middle East and Asia Pacific during the
2015-2023 period are analyzed in detail.
Smart gas meters are
devices that enable two-way communication between energy providers,
distributors, and energy consumers for updated information on gas
consumption. Communication modules, flow control devices, data
monitoring, gas warning devices, data logging and measurement, and
software are the essential components that smart meters are made of.
Environmental
mandates applicable at an international level for reducing carbon
emissions are the major driver for the installation of smart gas
meters worldwide. Other than this, the need to attain energy security
across the residential, industrial, and commercial sectors is also
significantly boosting the installation of these devices.
Smart gas meters are
advantageous from a revenue consideration as well. Due to the
availability of first-hand information about gas consumption,
consumers can consume energy prudently, which helps in revenue
generation in return.
End use, technology,
and region are the criteria based on which the smart gas market is
analyzed in this report. By technology, the meter data management
segment was ahead of all other segments in 2014 with a share of
almost 60% in the global market. On the basis of end use, global
estimates reveal that residential consumers accounted for a share of
almost 75% in the global market in 2014. The remaining 25% of the
market was collectively held by commercial and industrial consumers.
An increasing number of incentives and subsidies for the installation
of smart meters in residential buildings is the reason for the large
market share of the residential end-use segment.
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In 2014, North
America was the leading regional market and accounted for a share of
64% in the global market. This was followed by Europe, wherein
regulatory mandates for reducing carbon emissions are the major
factor driving this regional market. In 2014, Asia Pacific stood as
the third largest market for smart gas. Although the Middle East and
Africa exhibited slow growth, environmental regulatory stipulations
will boost the installation of smart gas meters in the region in the
foreseeable future.
Currently, the smart
gas market in South and Central America is exhibiting slow growth.
However, initiatives taken by the government to prevent energy theft
will benefit the smart gas market in the region. In this regard, the
Brazilian government is rolling out smart gas meters to help achieve
revenue gains.
The smart gas
market has been segmented as follows:
Smart Gas Market:
By Device Type (USD Million)
- Traditional Metering System
- Gas Warning Device
- AMI Communication Module
Smart Gas Market:
By Technology (USD Million)
- Meter Data Management (MDM)
- Supervisory Control and Data Acquisition (SCADA)
- Geographic Information System (GIS)
- Others
Smart Gas Market:
By End-user (USD Million)
- Residential
- Commercial and Industrial
Smart Gas Market:
By Region
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- France
- Italy
- U.K.
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- Rest of Asia Pacific
Middle East
and Africa
- South Africa
- Rest of Middle East and Africa
South and
Central America
- Brazil
- Rest of South and Central America
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Transparency Market
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Market Research employs rigorous primary and secondary research
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business reports.
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