Smart Gas Market Statistics: 2026
The global smart gas market size was valued at $12.66 billion in 2018, and is projected to reach $41.65 billion by 2026, registering a CAGR of 16.2% from 2019 to 2026. The adoption of smart technologies is experiencing extensive growth. In addition, the energy and utilities industry is experiencing the emergence of these smart technologies very closely. For example, the adoption of smart grid technology is growing very quickly in the energy sector, due to numerous benefits associated with the smart grid technology such as, self-healing of the network, real-time assistance to energy management systems, cost savings, energy conservations, and others. Likewise, the adoption of smart gas is also on the rise among utilities globally due to its vast benefits such as, real-time monitoring of gas pipelines & infrastructure, gas usage, leakages, and cost savings on bills.
By component, the solutions segment garnered major smart gas market share in 2018 and is expected to remain dominant during the forecast period. The growth of this segment is mainly attributed to the benefits associated with smart gas solutions, which provides remote monitoring of gas distribution, and network & outages. Moreover, increase in need to reduce difficulties associated with the bill payments is also one of the key factors that drives the demand for smart gas solutions. Further, the services segment is expected to exhibit highest growth rate throughout the forecast period.
By Component
Services would exhibit the highest CAGR of 18.7% during 2019-2026.
North America dominated the global smart gas market in 2018 and is expected to remain dominant during the forecast period due to the presence of major market players and growing investment & spending on smart metering & smart gas systems. Also, increasing development in smart energy and gas system is anticipated fuel the smart gas market growth in upcoming years in this region.
By Device Type
Advanced Meter Infrastructure (AMI) would exhibit the highest CAGR of 19.3% during 2019-2026.
The report focuses on the growth prospects, restraints, and trends of the smart gas market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the smart gas market.
By End User
Residential would exhibit the highest CAGR of 17.9% during 2019-2026.
Segment review
The global smart gas market is segmented based on component, device type, end user, and region. Based on component, the market is bifurcated into solutions and services. Based on device type, the market is divided into automatic meter reading (AMI) and advanced meter infrastructure (AMI). Based on end user, the market is classified into commercial & industrial, residential. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Region
Asia-Pacific would exhibit the highest CAGR 21.1% during 2019-2026.
The market is dominated by the global smart gas players such as ABB, Capgemini, Diehl Stiftung & Co. KG, General Electric, Itron Inc., Landis+Gyr, Oracle, Schneider Electric, Sensus, a Xylem brand, and Verizon.
Top impacting factors
Current and future global smart gas market trends are outlined to determine the overall attractiveness of the market. Top impacting factors highlight the opportunity during the smart gas market forecast period. Increase in need to enhance urban safety is the key factor driving the market growth for the smart gas industry. In addition, rise in investment in smart gas pipeline and smart grid network is also fueling the market growth. Moreover, increase in urbanization globally is also propelling the demand for smart gas solutions across commercial and residential users. However, lack of awareness of smart gas systems among people is expected to impede the market growth during the forecast period. Furthermore, increasing investment and initiatives for smart energy management by the government is anticipated to provide major growth opportunities for the smart gas market in upcoming years.
Increase in need to enhance urban safety
Unwanted pressure in the gas lines can hamper the gas pipeline resulting into leakage, malfunctions, and other safety hazards. In addition, increasing cases of stealing the gas also enhances the possibilities of. Thus, such factors generate the demand for smart gas solution in gas utilities. Moreover, smart gas enables real-time monitoring of pipelines data that includes, temperature, flow, and pressure monitoring. Also, smart gas further provides essential references for management scheduling, and production, which further adds extra layer of safety. Furthermore, with smart gas solution, users can construct organized channels that can be further linked with diverse sectors to safeguard service operation in a timed manner.
Rise in urbanization
The urbanization is growing at an unprecedented rate, due to increasing migration of people in search of better job and income opportunities from less developed areas to developed cities. In addition, with increasing urbanization, cities face additional challenges in terms of environmental quality, travel & network congestion, and housing. Thus, smart gas solution can help cities by providing better gas distribution and usage insights, which can ultimately reduce natural gas wastage. Moreover, people are getting more rational about technologies with increase in urbanization and opting for solutions that help them in savings costs, which is also one of the major factors that is expected to fuel the market growth in upcoming years.
Covid-19 Impacts on Smart Gas Market-
- The several major smart gas metering device manufacturers across the globe have halted their production activities due to disrupted supply chain amid lockdown due to Covid-19 pandemic.
- The growth of smart gas market is expected to decline during the Covid-19 pandemic due to decline in consumption of smart gas from commercial sector as hotels and restaurants across various countries are closed amid lockdown.
Key Benefits for Smart Gas Market:
- This study presents the analytical depiction of the global smart gas market trends and future estimations to determine the imminent investment pockets.
- A detailed analysis of the smart gas market segment measures the potential of the market. These segments outline the favorable conditions for the market.
- The report presents information related to key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the industry.
Smart Gas Market Report Highlights
| Aspects | Details |
 By Component |
|
 By Devices Type |
|
 By End User |
|
 By Region |
|
 Key Market Players | Diehl Stiftung & Co. KG, SENSUS, A XYLEM BRAND, Verizon Communications, Inc., Schneider Electric SA, General Electric, Itron, Oracle, Landis+Gyr Ag, ABB, Cap Gemini S.A. |
Analyst Review
According to the CXOs of the leading companies, the global smart gas market in the U.S. and Asia-Pacific, experiences rapid growth and has a vast scope for development. In addition, positive returns on investment in the smart gas technology is anticipated to offer opportunities for improvement of the existing gas distribution and management systems. Majority of market players are collaborating with numerous government entities and natural gas institutions globally. For instance, in February 2018, Oracle, a multinational computer technology corporation partnered with Gas Distribution Network France (GRDF), a Distribution System Operator (DSO) to deploy smart meters across France. Moreover, increased funding and initiatives by European Commission and EU’s Energy Efficiency Directive into natural gas and sustainable energy technologies is also driving the market growth in Europe. For instance, under the EU’s Energy Efficiency Directive the government has mandated the adoption of smart gas meters.
Furthermore, the adoption of smart gas technology is on the rise globally; however, market players need to overcome several challenges before its widespread adoption. The challenges associated with smart gas solutions include, the existence of traditional meters in rural areas, pricing regulations, lack of secure natural gas supply, and others.
Furthermore, smart gas is a consolidated market as players such as ABB, Capgemini, General Electric, Itron Inc., Oracle, Schneider Electric, and Verizon hold a major share globally. However, the market is expected to become fragmented in near future, as many players in developing countries are evolving and coming up with enhanced and innovative blockchain solutions and strategies.
The end users/application of smart gas industry includes Commercial & Industrial, and Residential
Leading players operating in the smart gas iundustry includes ABB, Capgemini, Diehl Stiftung & Co. KG, General Electric, Itron Inc., Landis+Gyr, Oracle, Schneider Electric, Sensus, a Xylem brand, Verizon.
To get latest version of smart gas market report
The global smart gas market is expecetd to register a CAGR of 16.2% from 2019 to 2026.
The global smart gas market was valued at $12,658.00 million in 2018, and is projected to reach $41,653.00 million by 2026, registering a CAGR of 16.2% from 2019 to 2026.
On the basis of top growing big corporation we select top 10 players.
Automatic Meter Reading (AMR) segment among the Device Type dominates the market due to Increasing need to ensure the data accuracy & analysis to increase customer satisfaction is the major factor boosting the growth for this segment.
The Asia-Pacific region is expected to provide opportunities for the market
The key players of the market are adopting different growth strategies such as product launch, partnership, acquisition, agreement and others to gain competative advantage over the other players.
Factrors such as increasing need to enhance urban safety, rise in investment in smart gas pipeline and smart grid network, growing urbanization and increasing investment and initiatives for smart energy management by government drives the growth of the market.
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