Heat Meters Market Share Projected to Reach 2,175 million, at a 7.25% CAGR by 2030 – Report by Market Research Future (MRFR)
Market Research Future
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Market Research Future
Heat Meter Market Growth Boost by Rising Technologies and Mandatory Legislative Required to Install Heat Meters
New York, US, April 05, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Heat Meters Market Research Report, by Type, Application, Connectivity, Region, and End-User - Forecast Till 2030”, the global market for Heat Meters is predicted to showcase considerable development over the assessment timeframe from 2022 to 2030 with a strong development rate of approximately 7.25%. The reports further anticipate the market to acquire a valuation of around USD 2,175 Million by the end of 2030.
Heat Meters Market Overview:
A heat meter refers to a device measuring the flow rate of a heat transfer fluid to get the amount of thermal energy given by a source. It is normally utilized to measure boiler output in facilities. It also determines how much heat or cold a heating boiler or chiller unit generates. A heat meter's main role is to give data for billing and optimization. These heat meters operate under a legal and regulatory framework needed for installation. The global market for heat meters has expanded immensely in the last few years. The main parameter supporting the development of the market so the rapid adoption of these meters across the residential sector.
Competitive Analysis
The listing of the prominent leaders across the global market for Heat Meters includes players such as:
Global industrial activities and business operations experienced a major setback given to the rise of the global health crisis in the form of COVID-19. The pandemic affected public health across nearly 225 countries, along with all industrial operations. All these situations led to the imposition of full or partial lockdowns across most regions worldwide. Subsequently, the industry operations were halted, and some businesses shut down. Given the sudden fall in demand for construction activities during the pandemic and the halt of most industrial operations, the Heat Meters market experienced many sudden & unexpected issues throughout the pandemic. On the contrary, now that the majority of the globe is being rapidly vaccinated and industrial operations are returning to normal, the market is predicted to witness a considerable expansion and recovery in revenue generation over the assessment period.
Heat Meters Market Report Scope:
Report Metrics
Details
Market Size 2030
2030: Significant Value
CAGR during 2022-2030
7.25% CAGR
Base Year
2021
Forecast
2022-2030
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type, End-User
Key Market Opportunities
New product launches and R&D Amongst major key Players
Key Market Drivers
Mandatory legislative required to install heat meters
Browse In-depth Market Research Report (111 Pages) on Heat Meters Market:
The global market for Heat Meters has displayed massive development in recent times. The main parameter supporting the market's development is the low-carbon district heating with higher flexibility. Furthermore, the need for precise heat consumption assessment is also one of the crucial parameters contributing to the development of the global market. Moreover, the higher savings through heat conservation and a statutory necessity to install heat meters are also likely to boost-up the development of the market over eth coming years. Static meters are deployed in building technology, automation, and district heating and are available at various flow rates. Static meters also depend upon the fluidic oscillator theory to offer precise flow and energy readings. In addition, the mandatory legislation needed to deploy heat meters has also contributed significantly to expanding the market worldwide. Governments worldwide are implementing new policies to encourage the use of heat conservation because of the energy import that is taking place in several developing nations; as per the reports by International Energy Efficiency, low-carbon district heating offering greater flexibility can decarbonize heating in buildings by installing heat meters.
Market Restraints
On the other hand, certain aspects may impede the market's growth. The primary parameter restricting the market's growth is the significant increase in the cost of production.
Among all the types, the static segment is predicted to ensure the leading position across the global market for heat meters over the review era. On the contrary, the mechanical heat meter segment is anticipated to display the maximum growth over the coming years. The growth of the static segment is ascribed to the fact that these meters use the fluidic oscillator principle to offer reliable flow and energy readings.
Among all the connectivity models, the wired heat meter segment will likely lead the global market, given the increased adoption of wired meters in poor connectivity areas.
Among all the end-users, the commercial segment is anticipated to hold the top spot across the global market for heat meters over the coming years.
Heat Meters Market Regional Analysis
The MRFR analysis reports suggest that the Asia-Pacific region is predicted to ensure the top spot across the global market for Heat Meters over the assessment era. The regional market's growth is ascribed mainly to the fact that the region is likely to witness increased manufacturing while its reliance on energy imports grows.
The North American regional market for heat meters is anticipated to secure the second spot globally over the coming years, given mainly the demand for heat meters to save energy. Furthermore, the factors such as energy conservation measures and the escalating number of launches of innovative products.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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