Cooling Meters Market Size & Share, by Product (Ultrasonic, Vortex), Technology (Mechanical, Static), Application (Residential, Commercial {College/University, Office, Buildings, Government Buildings}, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5485
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Cooling Meters Market size is expected to reach USD 2 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of cooling meters was around USD 1 Billion. The growth of this market will be propelling owing to a paradigm conversion towards the installation of progressed cooling gadgets. Radical actions must be taken to deoxygenize the energy sector. Buildings are then of specific interest since they are accountable for 30–40% of the international implementation of primary energy. In fact, a new paradigm of room-temperature thermoelectric components. For an easy semiconductor with only one kind of chemical bond, the transforming trend of Tzt versus Tm can be implemented. For an intricate semiconductor with hierarchical bonds, poorer bonds should be taken into consideration.

Another reason behind the development of the cooling meters market depends on the growing concern about global warming across the world. The international average temperature for July 2023 is established to be the highest on record for any month.  Regular international sea surface temperature (°C) medium over the 60°S–60°N domain plotted as a time series for every year from 1 January 1979 to 31 July 2023. The years 2023 and 2016 are demonstrated with broad lines shaded in bright red and dark red, severally. Other years are demonstrated with thin lines and shading in line with the decade, from blue (1970s) to brick red (2020s). The Copernicus Climate Change Service (C3S), utilized by the European Centre for Medium-Range Weather Forecasts in favor of the European Commission with funding from the EU, commonly releases monthly climate bulletins applying to the transformation regarded in international surface air temperature, sea ice cover, and hydrological volatiles. This month, underlines about sea surface temperature are also involved in this press release. All the reported findings depend on computer-produced assessments implementing billions of measurements from satellites, ships, aircraft, and weather stations worldwide.


Cooling Meters Market
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Cooling Meters Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

∼7%

Base Year Market Size (2023)

~USD 1 Billion

Forecast Year Market Size (2036)

~USD 2 Billion

Regional Scope

  • North America (North America, Canada, Mexico)
  • Europe (Germany, Spain, UK, France, Italy, Russia, Others)
  • Asia Pacific (Japan, China, India, Australia, Others)
  • Middle East and Africa (South Africa, UAE, Others)
  • Latin America (Brazil, Argentina, Others)
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Cooling Meters Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Extreme Temperatures Are Fueling Up the Demand for Cooling Meters - Heat alerts caution of harmful situations for human health are augmenting internationally – from China, where temperatures currently increased above 50°C, to Tokyo and the Southwestern United States. In Europe, the Cerberus hot weather called after the three-headed dog that supports the gates of Hell has inflaming wildfires pushed a spike in heat-associated deaths, and caused mobile phones to all of a sudden dole out. This huge heat also has major repercussions for international energy systems. Record-devastating temperatures are feeding the requirement for increasing electricity demand - which can result in a spiteful cycle of rising greenhouse gas secretions that in turn make the planet even hotter. With electricity prices still increasing in a lot of regions as an outcome of the international energy crisis, people are also experiencing the heat in their pockets, frequently paying more than double what is required to put cool.
  • Ultrasonic Cooling Meters Acquire Traction Because Of Precision and Steady Operation Components - The rising requirement for precision and trustworthy heat evaluation arises from multiple industries and sectors that heavily depend on accurate energy consumption information. Precision heat measurement is critical for effective energy management, cost allotment, and billing techniques. In indoor and commercial buildings, precise heat measurement offers a just distribution of energy costs among tenants, acts on energy conservation, and encourages renewable exercises. Moreover, the requirement for data center liquid cooling will also help the cooling meters market to grow immensely.
  • Requirement of Cooling Meters in Industrial Sectors - Industrial sectors, like manufacturing, need precise heat measurement for technique improvement, energy effectiveness evaluations, and consent with ecological rules. Cooling meters’ exact heat measurement plays a critical role in district heating systems, where multiple users are supplied with heat from a centralized source. Precise measurement ensures equitable distribution of costs based on individual consumption. The ultrasonic heat meter industry has a high demand for accurate and reliable heat measurement driven by the need for effective energy management, fair cost allocation, and the pursuit of energy efficiency and sustainability goals in various sectors.

Challenges

  • Shortage of Employees - Since the onset of the epidemic and “The Great Resignation,” labor insufficiencies have become a rising awareness for businesses across all industries. In 2022, a record-high 50 million U.S. employees left their jobs, as stated in federal data. While workers' resignations started to slow in the second part of 2023, businesses in the cooling meters industry are still struggling to fill open positions. Overburdened employees may strive to match due dates, make errors, and miss critical details, finally resulting in a reduction in the quality of work executed. This, subsequently, can have a damaging impact on the organization’s popularity, resulting in customer loss, drained sales, and profit loss. But as the impact of the pandemic is mitigated and again everything is becoming normalized the cooling meters market can soon reach its expected CAGR by the forecast period.
  • Excessive Initial Cost
  • Limited Attainability.


Cooling Meters Segmentation

Product (Ultrasonic, Vortex)

In terms of product, the cooling meters market worth from the ultrasonic segment is expected to cover the highest revenue share of almost 66%, owing to the increasing adoption of district heating and cooling systems because of the increasing urbanization. The global population has exceeded 8 billion towards the end of 2022. Since the late 1980s, population expansion has little by little. This slowdown was particularly emphasized at the time of the COVID-19 epidemic in 2020. Population expansion has been expected to be 0.8 percent in 2022 and is expected to accelerate in 2023, before continuing its extraction towards a projected 0.5 percent yearly expansion in 2050. These cooling meters also provide the most increased energy measurement utilizing avant-garde ultrasonic increase measurement technology. These quality meters also have the highest precision and longest lifetime values. The report further shows that the nominal wear and tear impacts, low energy uptake, dirt resistance, and non-inquisitive design advantages will affirmatively influence the sales of ultrasonic cooling meters.

Technology (Mechanical, Static)

Concerning the technology segment of the cooling meters market the dominance of the static segment will be noticed during the complete forecast period having almost 55% revenue share.  This expansion is credited to the increased operational dependability and resilience. Resilience isn’t just about making sure the lights stay on; it’s about recognizing and limiting the issues that lead to possible disruptions. Trustworthy and sheer tracking of the international electricity sector is crucial to make sure efficient action at the time and scale required to keep international heating to 1.5 degrees. There has been increasing concern about the skill of completely automated building operations to produce substantial energy savings.

Our in-depth analysis of the global cooling meters market includes the following segments:

Product

  • Ultrasonic
  • Vortex

Technology

  • Mechanical
  • Static

Application

  • Residential
  • Commercial
  • College/University, Office
  • Buildings
  • Government Buildings
  • Industrial

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Cooling Meters Industry - Regional Synopsis

APAC Market Statistics

The Asia Pacific cooling meters market is expected to hold 37% of the revenue share by 2036. This growth will be mainly driven by the increasing demand for cooling technologies in this region. Looking at the 2021 international requirement in terms of Japan, China, and other regions, the largest requirement is from China, of which requirement is calculated to have touched 41,305 thousand units, showing 98% of its 2020 requirement. China's requirement is attributed to 38% of the world's total requirement. Next to China, the Asian region (excepting Japan and China) stands at 17,983 thousand units, trailed by North America having 16,515 thousand units, Japan having 10,201 thousand units, Europe having 8,885 thousand units and Latin America with 6,547 thousand units. In a warming world, prosperity and civilization depend more on access to cooling. The expanding demand for cooling will contribute substantially to climate change.

North American Market Analysis

The North America region will encounter huge growth in the cooling meters market and will hold the second position by the end of 2036. Moreover, this growth in the region will happen owing to the smart and innovative cooling technologies that they use for lesser energy consumption. Innovative technologies offer a decarbonized, digital, and more maintainable tomorrow—across industrial applications, buildings, infrastructure, and the complete food and cold chain. With a wide portfolio of products and solutions, these technologies assist in limiting international emissions and reducing climate change. The focus: is to keep global warming below 1.5°C degrees. Successful implementation of energy effectiveness programs in the region frequently install and produce a range of energy-proficient technologies.

Research Nester
Cooling Meters Market size
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Companies Dominating the Cooling Meters Market

top-features-companies
    • RB Flowmeter
      • Company Overview
      • Business Planning
      • Main Product Offerings
      • Financial Execution
      • Main Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
    • SWOT Analysis
    • ZENNER International GmbH & Co. KG
    • Axioma Metering
    • Smartdhome Srl
    • Integra Micro Systems (P) Ltd.
    • Xylem Inc.
    • Siemens AG
    • Secure Meters Ltd.
    • Itron Inc.
    • Danfoss Pvt Ltd

In-the-news

In The News

  • ZENNER International GmbH & Co. KG and Minol ZENNER Connect, two companies have been working in close partnership within the Minol-ZENNER-Group and together given municipal utilities, energy suppliers, municipalities, and the housing industry with an all-inclusive infrastructure to digitalize the energy conversion. Since September 2023, the two organizations have been pursuing their usual path in a new form, as ZENNER Connect GmbH. The executive management team is driven by the three earlier Managing Directors of Minol ZENNER Connect GmbH, Sebastian Hess, Marcus Kirchdörfer, and Dr. Hartmut Ritter.
  • Xylem Inc. uncovered a new residential electric meter with progressed grid edge abilities. The new Stratus IQ+™ electricity meter from Sensus, a Xylem brand, is getting the grid to next-level smart. Its robust processor and enlarged data set choices enable utilities to pull more system diagnostics than ever before, providing them with a powerful health check of their distribution system and elevated concern about the clientele's electricity usage.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5485
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing use of electricity in the summers will majorly drive the market growth of the cooling meters market.

The market size of the cooling meters market is expected to get a CAGR of approximately 7% over the forecast period, i.e., 2024-2036.

The major players in the market are RB Flowmeter, ZENNER International GmbH & Co. KG, Axioma Metering, Smartdhome Srl, Integra Micro Systems (P) Ltd., Xylem Inc., Siemens AG, Secure Meters Ltd., Itron Inc., Danfoss Pvt Ltd., Tokyo Electric Power Company Holdings, Inc. (TEPCO), Kansai Electric Power Co., Inc., Chubu Electric Power Co., Inc., Kyushu Electric Power Co., Inc.

The ultrasonic segment is anticipated to reap the largest market size with almost 66% by the end of 2036 and demonstrate substantial growth scopes.

The market in the APAC region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
Cooling Meters Market Report Scope
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