Global Heat Meter Market 2020 Industry research report provides an In-Depth analysis that includes an executive summary, definition, and scope of the market.
Market Research Future (MRFR) has recently published a comprehensive report on the global heat meter, outlining the key trend and patterns that can impact the market growth over the forecast period of 2018-2023. MRFR’s analysis has predicted a CAGR of 7.25% over the forecast period.
Heat meter is a device which measures the consumed or transmitted heat energy. The major component of heat meter consists of flow meter, heat carrier input and output temperature sensors and an electronic calculator. By implementing a heat meter, the end-user only pays for heat consumed. Hence, given the flow and temperature data, the meter can calculate the amount of heat consumed by a commercial or residential building. There are also certain legislative and regulatory framework needed for installation of heat meter. Residential segment is estimated to dominate the heat meter market during the forecast period.
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Heat meter is a measuring device which measures thermal energy provided by a source by measuring the flow rate of the heat transfer fluid. It is ideally used in plants for measuring boiler output. It is also used to measure the heat or cooling output of a heating boiler and chiller unit respectively. The major function of a heat meter is to provide a data needed for billing and optimization.
The growing demand for Heat meter market is attributed to the need for savings through heat conversion and mandates required to install heat meter. Also, accurate measurement of heat consumption is driving the market for heat meters. One of the major restraints for the global heat meter market is cost associated with heat meters.
The key players of the global heat meter market are Diehl (Germany), Danfoss (Denmark), Landis+Gyr (Switzerland), Itron (US), Honeywell Elster (US), Kamstrup (Denmark), Zenner (US), Sontex (Switzerland), Qundis (Germany), and Siemens AG (Germany).
Global Heat Meter Market Segmentation:
The heat meter market has been segmented based on type, connectivity, and end user.
- Mechanical Heat Meter
- Static Heat Meter
- North America
- Middle East & Africa
- South America
Heat Meter Regional Market Analysis:
Region-wise, the heat meter market has been segmented into North America, the Middle East & Africa (MEA), South America, Europe, and Asia Pacific (APAC).
The APAC region is witnessing rapid progress in terms of manufacturing activity, which has increased energy requirements. Mounting focus on energy conservation in the region has augmented the demand for heat meters. Moreover, various regulations pertaining to energy conservation exercised in the region has favored market growth. The APAC market captured the largest market share in 2017 and is anticipated to retain its lead throughout the assessment period.
North America has secured the second spot in the heat meter market. Enactment of various energy conservation programs which encourage the adoption of heat meters has been instrumental in the expansion of the market.
Europe heat meter market is driven by supportive regulations and energy conservation efforts. Various regulations which mandate the replacement of old heat meters are likely to affect the market growth positively. Investment in heat meter projects in the MEA region is likely to boost its growth over the forecast period.
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