Heat Meter Market- Advances in Energy Saving Initiatives to drive market growth

The Heat Meter Market size was valued at USD 1061.32 Mn. in 2023 and the total Insulation revenue is expected to grow by 9.2% from 2024 to 2030, reaching nearly USD 1965.20 Mn.

A heat meter is a tool used to estimate the energy required to move hot fluids from one location to another. In the US, it is referred as Thermal Meters, and in the Middle East and Asia, it is known as BTU meters. The development of cutting-edge gadgets, rising public awareness, and tight safety regulations have contributed to the market's growth. In the value chain of heat meters, manufacturing of various parts, such as the flow sensor, temperature sensor, and calculator, is crucial. Since the accuracy of the sensors directly affects the value of the heat meter, the sensor is the most crucial and sensitive component and its fabrication demands extreme care.

Heating accounts for nearly half of the final energy consumption. The government has committed to financial incentive schemes to encourage the uptake of renewable heating. Heat meters are the devices used to measure the thermal energy. Accurate heat meter measurements are essential for effectively measuring the performance of the heat-generating technologies. The Payments made under the Non-Renewable Heat Incentive Schemes are based upon the Heat meter reading and thus the heat meter accuracy has a direct impact on the payments and value for money.
Scope of the Report:
The report provides a comprehensive analysis of the global Heat Meter Market. The report estimates the Heat Meter Market, in terms of USD value from 2024 to 2030. In order to identify potential investment pockets, this report gives an analytical representation of the Heat Meter industry together with current trends and future forecasts. The report includes a thorough analysis of the market share for Heat Meter as well as data on important drivers, restraints, and opportunities. A quantitative analysis of the existing market is done from 2024 to 2030 to show the potential for market growth across the globe. In addition, Porter's five forces study demonstrates the market power of both buyers and providers. The research offers a thorough analysis of the worldwide Heat Meter market based on the level of competition and how it will develop over the forecast period.To know about the Research Methodology :- Request Free Sample Report
Heat Meter Market Dynamics:
The main drivers for the growth of the Heat Meter Market during the forecasted period is rising need for sub-metering, innovations in heat meter technology, and rising demand for safety features in industrial applications. The worldwide Heat Meter market have greater prospects where There are more concerns with integrating smart technologies into heat metering systems. For instance, Smart meters enables two-way communication with the meter. In rural locations, the radio frequency (RF) technology utilized for smart wireless metering deployment has increased its operational effectively over the vast geographical areas. The current uncertainties regarding the accuracy of heat meters when subjected to the variety of the installation errors has made the research projects to investigate various aspects of Heat Meter accuracy.

According to the IEA Sustainable Recovery Tracker’s autumn 2022 edition, energy efficiency-related investments accounts for roughly two-thirds of USD 400 billion per year and thus the government initiatives are expected to mobilize with the recovery measures over the next three years. This intense emphasis on sustainability has increased the demand for smart energy meters, which in-turn, has resulted the growth opportunity of Heat Meter market.

The market for Static Heat Meter is expected to grow due to effective and sustainable heat management systems that provides real-time data monitoring. The market was worth over USD 3.2 billion in 2022, due to its significant utilization advantages, such as accurate data measurements, adaptability and dependable operations.

There has been a significant demand for sub-metering or individual heat metering to address inaccurate billing of a single heat meter to record the heat consumption of the entire building. To ensure proper recording of heat use and generating of the correct quantity of bills, sub-metering entails installing a separate heat meter for each residence were installed. Additionally, in order to increase energy efficiency, the governments of various countries have established rules that call for individual Heat Meter for distinct families, which is predicted to increase demand for Heat Meter even more. Moreover government of various nations have laid down polices to install individual Heat Meters to achieve energy efficiency, which is expected to raise the demand of the Heat Meters during forecasted period.
Heat Meter Market Segment Analysis:
By Type, the Heat Meter Market is segmented into wired and wireless. A connected heat metre system offers reliable data reading with a long battery life. They are frequently employed in circumstances where the Heat Meter are placed close to one another, such as in heating applications for apartments where the Heat Meter of neighbour homes are placed fairly close to one another and thus the wired type segment dominated the market in the year 2023. In order to read the metre, wireless Heat Meter use a variety of wireless methods, including, among others, a mobile radio receiver, a Bluetooth interface, and cloud-based technologies have come into existence. A recent development in heat metering applications is the use of radio-frequency modules called Automatic Meter Reading (AMR) to collect data on heat measurement.By Pipe Size, the Heat Meter Market is segmented 15 mm to 40 mm, 40 mm to 80 mm, 80 mm to 125 mm, and more than 125 mm. Small pipes (15 mm to 40 mm in diameter) are typically installed within the home to transport hot water to various outlets throughout the residence. These pipes are also widely used in household applications because of their small size, excellent dependability, extended shelf life, and ability to be placed independently of the measurement apparatus. Extra-large pipes with a diameter more than 125 mm are typically used to transport industrial waste fluids created by process heating. Boiler pipes, line pipes, and material-carrying pipes are three common industrial applications for these pipes.

By Functionality, the Heat Meter Market has two segment insertion and in-line segments. In the upcoming years, installation of Heat Meter are expected to have demand due to their relatively low cost and simplicity of installation. Additionally, the in-line type of heat meter's precise tolerance is double to that of the insertion type, which is likely to limit the use of the insertion type of Heat Meter to some extent.

By Technology, The market is divided into mechanical, ultrasonic, and other categories. A high degree of accuracy, real-time data collecting, and remote reading is possible in ultrasonic heat metre and thus this segment dominated the market in the year 2023. It is anticipated that the availability of sophisticated alarm systems for safety and security will boost the market adoption of ultrasonic Heat Meter over the forecasted period. The results of mechanical Heat Meter are less accurate since they manually read the data that has been collected. These metres lack the feature of alerts to notify the operator of any danger indications, which can be hazardous in urgent circumstances. This is one of the main reasons why mechanical Heat Meter haven't been widely used in recent years.
Heat Meter Market Regional Insights:
North America dominated the Heat Meter Market in the year 2023, due to national and international organizations, as well as the governments of various nations, are becoming aware of the need to cut back on overall fossil fuel consumption and increase energy efficiency. The region's market for Heat Meter is forecasted to grow favourable as a result of the rising use of district energy services in North America over the past several years.

Top markets key players for Heat Meter are in Europe. Due to the government's increasing efforts to save energy through the adoption of regulations and greater investment in long-term projects, the European region is expected to maintain its dominancy during the evaluation period. For instance, as part of its Energy Efficiency Directive, the European Commission set a goal to achieve 20% energy efficiency by 2020. Additionally, as part of the European budget for 2014–2020, the European Structural and Investment Funds (ESIF) announced allocation of EUR 19 billion for energy efficiency and EUR 6 billion for renewable energy. The market for Heat Meters is relatively diverse in the EU with Germany, Sweden, Denmark, Poland, Finland, representing over 75% OF European market.

China was the world's greatest heat consumer in 2015, accounting for 26% of all global heat consumption, according to an IAEA white paper on renewable heat policies. The hot fluid being circulated through the pipes in emerging nations in the Asia-Pacific region is likely to generate safety and security issues, which is likely to increase demand for heat meters in the area. Owing to this Asia Pacific region is likely to dominate the Heat Meter Market in the forecasted period.
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Heat Meter Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 1061.32 Mn.


Forecast Period 2024 to 2030 CAGR:
9.2%
Market Size in 2030:
US $ 1965.20 Mn.


 Segments Covered:
by Type
Wired
Wireless


by Pipe Size
15 mm to 40 mm
40 mm to 80 mm
80 mm to 125 mm
more than 125 mm


by Functionality
Insertion
In-line segments


by Technology
Mechanical
Ultrasonic
Other



Heat Meter Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Heat Meter Market, Key Players are:
1.Diehl Stiftung & Co. KG (Germany)
2.QUNDIS GmbH (Germany)
3. ZENNER INTERNATIONAL GMBH & CO.KG (Germany)
4. Engelmann Sensor GmbH (Germany)
5.Siemens (Germany)
6. ista Energy Solutions Limited (UK)
7. Micronics Ltd (UK)
8.Kamstrup (Denmark)
9.Danfoss (Denmark)
10.JSP, s.r.o. (Czech Republic)
11.Bmeters Srl (Italy)
12. Apator (Poland)
13. Sontex SA (Switzerland)
14.Axioma Metering (Lithuania)
15. Schlumberger Limited (US)
16.Itron (US)
17.Sensus-Xylem (US)
18.Huizhong Instrumentation Co., Ltd. (China)
19.Suntront Tech Co (China)
20.Wasion Group (China)
21.Landis+Gyr (Australia)
22.Secure Meters (India)

FAQs:

1. Which type of Heat Meter is gaining demand?
Ans. The Ultrasonic Heat Meters industry is forecasted to exhibit growth rate of 4.2% through 2030, due to the increasing deployment of the energy efficient systems and smart technologies.

2. What is the growth rate of Heat Meter Market?
Ans. The Heat Meter Market is growing at a CAGR of 9.2% over forecast period.

3. What is the market size of the Heat Meter Market by 2030?
Ans. The market size of the Information Technology Market by 2030 is expected to reach at USD 1965.20 Mn.

4. What is the forecast period for the Heat Meter Market?
Ans. The forecast period for the Heat Meter Market is 2024-2030.

5. Who are the major key Players in the Heat Meter Market Share?
Ans. Diehl, Kamstrup, Engelman, Schlumberger, Itron, Ista, Qundis, Zenner, Sontex, Trend, Plou, MetInfo, Runa, Guangdaweiy, Haifeng, Newtop, Wecan, Zhifang, Huizhong, Tianrui, Suntront., Sensus (Xylem), Landis+Gyr, Wasion Group.