Heat Meter Market Demand, Indepth Analysis And Estimated Forecast Till 2026 | Fortune Business Insights

(The Express Wire via Comtex)

Top Players in Heat Meter Market are Sycous Limited, Zenner International GmbH & Co. KG, Kamstrup, Danfoss, Apator SA., B Meters, Itron, Diehl Stiftung & Co. KG, Siemens, Trend Control Systems Ltd, Premier Control Technologies Ltd, Cosmic Technologies, Grundfos, Spire Metering Technology, Omni Instruments, and Xi'an Kacise Optronics Tech Co., Ltd

Growing need to reduce coal power generation and minimize carbon emissions is the main factor driving the global heat meter market growth in the forecast period. Electricity production for urban areas and industries is mainly done through thermal coal. Even though there is a rising clamor for eschewing coal-based power generation, coal continues to be the primary means for power generation around the world. According to the World Coal Association, about 38% of the world’s electricity output is still coming from coal-powered plants. In some countries, coal-based electricity generation has remained persistently high. For example, the International Energy Agency reports that energy production using coal increased by 4% in China and by 5% in India in 2018. Thus, there is a desperate need to regulate coal power consumption and heat meters are an efficient way to achieve that. This regulation is crucial if the average rise in global temperature is to be kept within 1.5 degrees Celsius.

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Fortune Business Insights, in its report, titled “Heat Meter Market Size, Share and Global Trend By Type (Mechanical, Static), By Connection (Wireless, Wired), By Application (Residential, Commercial, Industrial) and Geography Forecast till 2026”, provides actionable research by providing a comprehensive analysis of the various factors, trends, and dynamics along with a broad industry outlook that will aid businesses to frame appropriate strategies best suited to the needs of the market.

Major companies operating in the heat meter market include:

  • Siemens AG
  • Xi'an Kacise Optronics Tech Co., Ltd.
  • Cosmic Technologies
  • Danfoss
  • Zenner International GmbH
  • Spire Metering Technology
  • Trend Control Systems Ltd.
  • Grundfos
  • Itron
  • Omni Instruments

A heat meter is a thermal energy flow measuring device on the return or supply side of a heat-generating system. This is achieved by measuring the rate of flow of the fluid transferring heat and its temperature change between the supply and return legs of the machine.

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Emergence of Internet of Things (IoT) to Broaden Market Horizons

IoT technology is growing in popularity and is finding rising applicability in the power sector as it enables more efficient and economic data collection and analysis as well as enables remote regulation of power generation and distribution. According to the Asian Development Bank (ADB), IoT-enabled power plants could lead to value generation of close USD 11.1 trillion annually by 2025, accounting for 11% of the world economy. Such economic benefits are expected to majorly boost the adoption of heat meters in the industrial sector. Moreover, the advent of smart meters, which are connected to the internet and aid remote monitoring of energy consumption, will further fuel the demand for heat meters and dominate the heat meter market trends in the forecast period.

Extensive Energy Regulation Laws to Prove Favourable for the Market in Europe

As per the heat meter market report by Fortune Business Insights, Europe is projected to be the leading region in this market owing to the vigorous efforts taken by European countries to reduce carbon emissions. This is being achieved through the formulation of tough environmental policies by the European Parliament such as the Energy Efficiency Directive and Measuring Instruments Directive of 2012. Increasing preference for renewable energy sources and strong government initiatives will ensure the healthy growth of the market in North America. In Asia-Pacific, growth will mainly be led by China and India where national and local governments are working towards building sustainable development models and practices.

Operational Diversification by Major Players to Intensify Competition

Key companies are adopting various strategies such as new product launches, the introduction of new services, and expansion of their activities beyond territorial boundaries to strengthen their position in this market. For instance, in October 2019, Germany-based Siemens AG signed an agreement with the Norwegian power distribution company, Glitre Energi Nett, to establish a substation with an IoT-powered grid system to make data analysis more efficient. In August 2017, Measurement Canada has announced that will enable thermal energy regulation on the same lines as gas and electricity.

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Major Table of Content ForHeat MeterMarket:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Heat Meter Market Analysis, Insights and Forecast, 2026
  6. North America Heat Meter Market Analysis, Insights and Forecast, 2026
  7. Europe Heat Meter Market Analysis, Insights and Forecast, 2026
  8. Asia Pacific Heat Meter Market Analysis, Insights and Forecast, 2026
  9. The Middle East and Africa Heat Meter Market Analysis, Insights and Forecast, 2026
  10. Latin America Heat Meter Market Analysis, Insights and Forecast, 2026
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

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