Global energy meter market was estimated to be USD 9.21 Billion in the year 2020

(The Express Wire via Comtex)

According to a Facts and Factors market research report, the globalenergy meter marketwas estimated to be USD 9.21 Billion in the year 2020; and the revenue is projected to reach about USD 13.12 Billion by the end of 2026, increasing at a CAGR of around 6.07% from 2021 to 2026.

The energy meter is a meter that measures how much energy an electric load consumes. Energy refers to the total amount of power used and consumed by the load during a given period of time. It is used to monitor power consumption in both residential and commercial AC circuits. The meter is less expensive and more precise.

Due to the fact that the energy meter market has already reached saturation, the market is expected to grow slowly throughout the forecast period. Utilities all over the world are investing heavily in this segment to increase distribution and collection while also controlling the amount of energy used. This is expected to be one of the key driving factors in the prepaid energy meter market during the forecast period.

Electricity theft and unpaid bills are causing losses in countries all over the world, and countries are looking for measures to reduce these losses. To reduce losses, India plans to install energy meters across its rural and semi-urban network by 2022. Efforts like these by the government will aid the market's development over the predicted period. Consumers like to have more control over their spending and want a hassle-free service when it comes to electricity, therefore this will be a major development factor for the energy meter market over the forecast period.

Developing countries with extensive infrastructure expansion are also a growth factor in terms of urbanization and industrial development, with many under-construction projects using the energy meter market as a default power connection.

The energy meter market is divided into two categories based on the kind of energy meter: electromechanical meters and electronic meters. The energy meter market is divided into three categories based on price: low, medium, and high. The energy meter market is divided into three segments based on its application: residential, commercial, and industrial. The energy meter market is divided into two categories based on distribution channels: online and offline.

Because of the developing countries that make up the Asia Pacific, it is regarded as one of the most promising markets for energy meters.

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Top Market Players

Iberdrola, SMA Australia, Landis+Gyr, PayGo Energy, Conlog, Secure Meters, Eaton, CAREL, E.ON, EDMI Limited, Hexing Electrical Company Ltd, El Sewedy Electrometer Group, CIRCUTOR, Holley Metering, Elster GmbH, Exceleron, HCL, Itron Inc., Siemens AG are some of the major market players in the energy meter market.

This report segments the energy meter market as follows:

Energy Meter Market: ByType Segmentation Analysis:

  • Electromechanical Meters
  • Electronic Meters

Energy Meter Market: By Price Segmentation Analysis

  • Low
  • Medium
  • High

Energy Meter Market: ByApplication Segmentation Analysis:

  • Residential
  • Commercial
  • Industrial

Energy Meter Market: ByDistribution Channel Segmentation Analysis:

  • Online
  • Offline

Energy Meter Market: Regional Segmentation Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

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Press Release Distributed by The Express Wire

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