Heat Meters Market: Global Opportunity Analysis and Industry Forecast 2021-2031 Market

Heat meter is a device used for measuring thermal energy of a source by calculating the flow rate of the heat transfer fluid. It is usually used for the measurement of boiler and heat taken by the system in industrial plants.  A heat meter is equipped with a flow sensor, a calculator, and a pair of temperature sensors. The major function of a heat meter is to provide information required for billing and optimization. 

Market scope and structure analysis

Segmentation by type 

• Mechanical
• Static

Segmentation by connectivity 

• Wired
• Wireless

Segmentation by application 

• Residential
• Commercial & Public
• Industrial

COVID-19 scenario analysis

Over the past few months, the COVID-19 pandemic has caused an unprecedented global economic and social crisis. The pandemic has significantly affected all aspects of life, including the energy sector. The crisis has caused various damages such as reduction in oil prices and low production, especially during the Russia–OPEC price war. These factors are expected to reduce the demand for heat meters in the present scenario.

Market scenario analysis

The global heat meter market is expected to register significant growth during the forecast period. This is attributed to rise in digitalization of power utilities and rise in adoption of district heating systems.  Increase in demand for accurate and reliable heat metering systems and rapid development of commercial as well as residential sectors are further contributing toward the market growth. In addition, governments across the globe are developing practices to encourage the use of heat conservation, due to energy import from many developing countries. Furthermore, owing to rise in cost of energy and an effort on energy reduction, accurate and reliable metering of all utilities has become essential for managing energy costs. This will create pathways for growth of heat meter market during the forecast period. However, increase in competition from alternative heating technologies and capital cost associated with heat meter operations may act as a key challenge for the global heat meter market. 

Market trends

Advancement in technology and digitalization of meters with deployment of IoT devices are expected to boost the industry growth. Moreover, favorable government policies regarding energy efficiency along with growing concerns toward building emissions will have a positive impact on the global heat meter market. Aalborg Energy Group has set up a contract with Kamstrup for digitalizing the district heating supply network in Denmark. The project is expected to provide the supply of automatic remote reading system and 38,000 advanced heat meters.

Market drivers and restraints

Increase in concerns of global warming has made the governments to provide incentives to citizens and industries to limit and monitor their thermal energy use to reduce the effect of climate change caused by human activities. This has increased the demand for heat meters in various sectors, for instance, district heating & cooling systems. Moreover, rise in concerns related to energy conservation along with favorable government rules and regulations pertinent to energy efficiency are expected to fuel the growth of the global heat meter market. However, adoption of alternative heat sources such as rooftop solar panels, high capital cost of heat meters, and increase in competition from alternative heating technologies are the key restraining factors of the global market.

Regional insights

Region wise, the global heat meters market is analyzed across North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific is expected to be the market leaders for heat meters, due to its increase in use of energy consumption and rapid urbanization. Favorable government incentives and awareness regarding energy conservation and energy-efficient practices  significantly contribute toward the growth of this market. North America being the second largest economy is focusing toward energy conservation by implementing heat meters within different application areas.   

Key benefits of the report

• This study presents the analytical depiction of the global heat meter industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global heat meter market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global heat meter market growth scenario.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

 Heat Meters Market: Global Opportunity Analysis and Industry Forecast 2020-2027 Report Highlights