Smart Gas Market

Smart Gas Market Segmentation by Device (Automatic Meter Reading (AMR) Meters, Advanced Metering Infrastructure (AMI) Meters, and Gas Meter Communication Modules); by Solution (GIS, SCADA, MDM, Outage Management & Remote Monitoring, and Asset Condition Monitoring and Performance Management); by Service (Consulting, Deployment, and Managed); by End User (Residential, Commercial, and Industrial) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3391 | Published On: Feb 08, 2023

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


In The News

  • February 2019 - Tata Communications and Indraprastha Gas Limited came together to launch a pre-paid smart gas metering system. It is one of the world's largest LoRaWAN network, which that underpins India’s leading natural gas distribution company strategy to boost efficiencies and improve customer experience.


Smart Gas Market Highlights 2022 – 2030

The smart gas market is estimated to garner a sizeable revenue and grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2030 Globally. The growth of the market can be attributed to the rising concerns associated with emissions of greenhouse gases, growing consumption of natural gas, and increasing need for reducing carbon footprint. As of 2017, the world consumes 132,290,211 million cubic feet (MMcf) of natural gas every year, whereas the per capita consumption of the same gas is more than 17,000 cubic feet in that year. Along with these, escalating demand to reduce energy losses, several government initiatives to mandate the use of smart gas, and increase energy security around the world are also expected to drive market growth in the forthcoming years. Furthermore, rise in emergence of smart grids, rapid growth of urbanization, and growing collaboration among major stakeholders globally are crucial factors projected to offer ample opportunities for market growth in the near future.

Smart Gas Market Graph

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The smart gas market is segmented based on solution into GIS, SCADA, MDM, outage management & remote monitoring, and asset condition monitoring and performance management, out of which, the outage management & remote monitoring segment is anticipated to hold the largest share in the global smart gas market on account of the rising demand for the functionalities offered by this solution such as asset performance tracking and providing real-time data during gas operations. Additionally, on the basis of device, the segment for automatic meter reading (AMR) meters is predicted to garner the largest share during the forecast period, which can be credited to the high cost-effectiveness, enhanced billing processes and ability to offer accurate meter readings. 


Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption Graph

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.


Global Smart Gas Market Regional Synopsis

On the basis of geographical analysis, the global smart gas market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing number of smart gas metering projects in countries, namely Japan and China, and high encouragement from government to deploy smart gas meters in the region. Moreover, the market in Europe is assessed to grab the largest share over the forecast period owing to the deployment of several regulatory policies leading to the growing adoption of smart gas, and increasing roll-out of smart energy meters supported by the current infrastructure. Apart from these, growing investments to finance low-carbon projects is also predicted to boost the growth of this region’s market in the future.

The global smart gas market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Smart Gas Market Graph
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Smart Gas Market Segmentation

Our in-depth analysis of the global smart gas market includes the following segments:

By Device

  • Automatic Meter Reading (AMR) Meters
  • Advanced Metering Infrastructure (AMI) Meters
  • Gas Meter Communication Modules

By Solution

  • GIS
  • SCADA
  • MDM
  • Outage Management & Remote Monitoring
  • Asset Condition Monitoring and Performance Management

By Service

  • Consulting
  • Deployment
  • Managed

By End User

  • Residential
  • Commercial
  • Industrial

Growth Drivers

  • Growing Concerns Associated with Greenhouse Emissions
  • Increase in Natural Gas Consumption Globally

Challenges

  • High Cost of Installation of Smart Gas Systems


Electricity Consumption Graph
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Top Featured Companies Dominating the Market

    • Itron Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • ABB Ltd.
    • Schneider Electric
    • Elster Group GmbH
    • General Electric Company
    • EnerNOC Inc.
    • Sensus Metering Systems, Inc.
    • Aclara Technologies
    • Badger Meter, Inc.
    • IBM Corporation

Key Questions Answered in the Report

1) What are the major factors driving the growth of the Smart Gas market?

Ans: The major growth drivers for the market are growing concerns associated with greenhouse emissions and increase in natural gas consumption globally.

2) What would be the CAGR of Smart Gas market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the Smart Gas market growth?

Ans: High cost of installation of smart gas systems is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of Smart Gas market in future?

Ans: Asia Pacific will provide more business opportunities for market growth owing to the increasing number of smart gas metering projects in Japan and China, and high encouragement from government to deploy smart gas meters.

5) Who are the major players dominating the Smart Gas market?

Ans: The major players in the market are Itron Inc., ABB Ltd., Schneider Electric, Elster Group GmbH, General Electric Company, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the smart gas market?

Ans: The market is segmented by device, solution, service, end user, and by region.

8) Which segment captures the largest market size in the device segment in the smart gas market?

Ans: The AMR meters segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

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