Sellbyville, Delaware, March 15, 2018 (GLOBE NEWSWIRE) --
Smart Gas Metering Systems Market is predicted to reach USD 9 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Growing measures to mitigate the ever-rising energy needs coupled with the need to monitor accurate billing will stimulate the smart gas metering systems market. Rapid development of gas pipelines network along with efforts to reduce energy theft will further boost the business landscape. According to the International Energy Outlook 2013, the world energy consumption between 2010 and 2040 is projected to grow by 56%. The adoption of intelligent systems will thus serve as a formidable solution to address the problem of rising energy consumption.
AMI smart gas metering systems market is set to witness robust growth on account of its capability to extract reliable energy information and pricing from the utility to the end consumer. Increasing focus for efficient energy optimization will further stimulate the product outlook. For instance, in 2016, the Digitisation of the Energy Turnaround Act in line with the EU directives started the deployment of Advanced Meter Infrastructure (AMI) systems with the target to equip 80% of the population with smart meters by the year 2020.
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For Europe, the UK smart gas metering systems market is predicted to witness gain over 12% by 2024. Evolution of regulatory frameworks in the EU countries along with the liberalization of energy markets will further embellish the business landscape. The Government of UK in March 2011 has set out the Smart Metering Implementation Programme that expects the rollout strategy and policy design for smart meters be completed by 2020.
Stringent government mandates to effectively track energy consumption along with increasing focus toward establishment of smart grid infrastructure will fuel the smart gas metering systems market. Enhanced efforts to effectively track energy usage coupled with refurbishment of faulty distribution networks will further enhance the industry outlook.
Browse key industry insights spread across 241 pages with 336 market data tables & 17 figures & charts from this 2018 report Smart Gas Metering Systems Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/smart-gas-metering-systems-market
Government legislations and rollout programs for the deployment of intelligent systems will boost the smart gas metering systems market. Adoption of these systems to ascertain energy security coupled with conservation measures to detect unusual flow rates will further propel the business landscape.
Japan smart gas metering systems market share will grow over 37% by 2024. Rising energy prices and subsequent growing consumer interest toward billing accuracy will substantially favor the regional business outlook. Active regulatory regimes and mandated nationwide rollout will further ease the deployment of intelligent metering solutions across the industry. For instance, Tokyo Electric Power Corporation (TEPCO) has set targets for the roll-out of 27 million smart meters before the onset of Olympic Games in 2020.
Commercial applications are anticipated to witness growth owing to its increasing adaptability and reasonable pricing. Efficient expansion of gas networks to cater the growing population base will boost the product penetration.
Eminent players operating in the industry consist of Itron, Badger Meter, Landis+GYR, Siemens, Sensus Sentec, Schneider Electric, Osaki Electric, Neptune, Honeywell International and Raychem.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.