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Heat Meter Market is driven by rapid expansion of commercial and residential sector

Author : Ronak Bora | Published Date : 2019-03-25 

Heat Meter Market in commercial segment will grow on account of development of combined heating and cooling technologies along with growing adoption of sustainable building codes and standards. In addition, flourishing service sector coupled with upsurge in investments toward the development of residential establishments will positively impact the product penetration. Ongoing expansion of innovative energy efficiency solutions, efficient heating infrastructure and energy management systems will encourage the product demand. Rapid expansion of commercial and residential establishments coupled with ongoing investments toward the adoption of effective heating systems will stimulate the heat meter market growth.

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On the grounds of garnering heat and electricity savings, most of the countries have been installing heat meters in industrial, commercial, and residential buildings. The large-scale deployment of energy consumption measuring equipment has generated lucrative opportunities for the giants in heat meter market. In addition, many financial organizations also have been supporting regulators to install heat meters by providing favorable funding. For instance, in 2017, the Europe Bank for Reconstruction and Development (EBRD) has sanctioned USD 27 million loan to deploy heat meters across the residential sector. Over the last few years, EBRD has been supporting many nations which are looking forward to harnessing sustainability and energy efficiency.

Heat meter market size is set to grow on account of rising need for effective power management systems coupled with requirement of individualized metering across residential apartments. Cost saving, accurate billing, multiple communication options and power consumption monitoring are key parameters responsible for product adoption. Furthermore, growing demand for accurate and reliable metering technologies along with integration of IoT devices will enhance the industry landscape.

The transforming technology trends across the globe have also had a significant influence on heat meter market share over the last few years. The development of smart meters is one of the next-generation product inventions that helps customers track daily energy use very easily. Considering the benefits of modern technologies to improve the energy efficiency, leading giants in the heat meters market have been adopting various new technology advancements such as IoT (Internet of Things) and AI (artificial intelligence). For instance, a team from the Danish smart metering company, Kamstrup, and Finnish electricity firm, Herrfors Nät-Verkko have recently planned to use NB-IoT technology in smart metering. With the help of this technology, the Finnish company can monitor more than 6,000 heat and electricity meters that will result in 10% cost savings.

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Ongoing adoption building energy codes and standards coupled with technical advancement of combined heating & cooling systems will foster the commercial heat meter market. Ongoing expansion of service sector along with increasing government funds toward the development & construction of commercial infrastructure will stimulate the business growth. Digitalization of measuring devices for effective metering coupled with the deployment of energy management systems will positively impact the industry outlook.

Increasing installation of efficient heating systems coupled with rising concerns for secure energy supply will stimulate the Japan heat meter market demand. Introduction of innovative products and technologies on account of ongoing research and development activities by leading industry players will augment the business growth. In addition, stringent government regulations towards limiting carbon emissions along with rapidly growing economy will favor the product penetration.

Germany heat meter market is set to exceed installation of 1 million units by 2024. Increasing demand for district heating technology on account of changing climatic conditions across the nation will positively influence the product demand. Favorable regulatory policies pertaining to the adoption of sustainable energy devices coupled with increasing investments toward the development of commercial sector will propel the industry growth.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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