Asia-Pacific smart gas meters market is expected to grow at a significant CAGR of 6.6% during the forecast period. The major factors contributing to the growth of the market in the region include the rising smart city projects and partnerships for the development of smart gas meters. A significant rise in consumption of natural gas is expected by the developing economies such as China and India in upcoming period, due to which a huge amount of government expenditure related to natural gas infrastructure will be foreseen in the region. China is significantly investing in smart city projects. The 12th Five Year Plan, which guided wide economic policy through 2015, has primarily focused on smart city technology as a sector to be reinforced. Ministries of the country, such as the National Development and Reform Commission (NDRC), the Ministry of Industry and Information Technology (MIIT) and the Ministry of Housing and Urban and Rural Development (MOHURD) are jostling to sponsor programs and industry alliances.
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As per the data published by the German Asia-Pacific Business Association in March 2019, the Chinese government is pushing the development of smart cities counting around 500 pilot projects. The development of innovative smart city projects in China involves some key factors, such as digital integration, new and sustainable mobility solutions, distributed energy generation, personalized healthcare, and automated waste management. This, in turn, will drive the adoption of smart utility solutions and thereby will increase the installations of smart gas meters for efficient monitoring of gas usage as well as leakage and theft detection of gas.
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Apart from these, a significant partnership for the development of smart gas meters is further strengthening the market growth in the region. For instance, in May 2019, Semtech Corp., a supplier of analog and mixed-signal semiconductors products partnered with Goldcard Smart Group Co., Ltd., a provider of smart public utility solutions in China, to support gas utilities to optimize their operations. Owing to this the demand for smart gas meters is estimated to grow significantly in China.
Market Segmentation
Asia-Pacific Smart Gas Meter Market by Type
- Advanced Metering Infrastructure (AMI)
- Automatic Meter Reading (AMR)
Asia-Pacific Smart Gas Meter Market by Application
- Residential
- Commercial
- Industrial
Regional Analysis
- China
- India
- Japan
- Rest of Asia-Pacific
Company Profiles
- Diehl Stiftung & Co. KG
- Eaton Corp.
- Elster Group (Honeywell International Inc.)
- Itron Inc.
- Landis+Gyr AG
- Sensirion AG.
- Siemens AG
- Wasion Group
- Suntront Tech Co., Ltd.
- Xylem Inc.
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