Global Power Metering Market: Introduction
Power metering measures energy consumption and allows uni-directional as well as bi-directional communication between the central system and the meter. The device reads and stores the number of units of electricity consumed in a fixed period of time and communicates back to the utility for billing and monitoring purposes. A power metering device provides accurate readings as compared to that of an electricity meter. Also, a power metering device offers relevant data metrics.
Reliability on an electric system and high energy cost are some of the major concerns for most of the customers, as different rate structures exist and basic residential customers generally incur tiered billing or flat structure that corresponds to the energy usage. However, industrial or commercial consumers incur more complex rate structures due to heavy energy usage and power demand. Thus, power metering systems are more beneficial for heavy consumers. Power metering systems work on a 24/7 basis as they are permanently installed. On the basis of operational characteristics of the electric systems, power metering devices provide information on energy-related data. Thus, the customer can know when energy is being consumed, what loads are consuming it, where it is consumed, and how it is consumed with the help of power metering equipment. This knowledge helps the consumer to reduce the energy delivered and consumed by an electric system.
Global Power Metering Market: Dynamics
Technological upgradations of old grid infrastructure and growing environmental concerns are some of the key factors driving the growth of the power metering market. Two-way communication and low maintenance costs are some of the factors contributing towards the growth of the power metering market during the forecast period. Some features of power metering equipment such as enhanced accuracy, real-time data feeds, and monitoring of power quality are fueling the growth of the power metering market over the projected period. The increasing need for energy efficiency and energy installations owing to rising urbanization is also supporting the growth of the power metering market. Moreover, increasing initiatives by the government and electricity utility companies are also boosting the growth of the power metering market. However, energy theft and concerns among end users are some of the factors hindering the growth of the power metering market during the forecast period.
Global Power Metering Market: Segmentation
The global power metering market can be segmented on the basis of type, phase, application, and region.
Power metering market, by type-
Power metering market, by phase-
Power metering market, by application-
Global Power Metering Market: Competition Landscape
Some of the key vendors in the power metering market are Toshiba Corporation, General Electric, Honeywell International Inc., Schneider Electric, ABB, Eaton Corporation, Siemens AG, Jiangsu Linyang Electronics Co., Ltd., Melrose Plc., Aclara Technologies LLC, and Holley Metering.
Global Power Metering Market: Regional Outlook
Geographically, the power metering market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa (MEA), and Japan.
The Asia Pacific is expected to be an emerging market of power metering devices owing to the increasing demand from emerging economies such as China and India. Increasing urbanization and rising demand for electric vehicles in these countries are providing growth opportunities for the power metering market in the projected period. Also, China is a low-cost manufacturing market and proves to be an attractive market for export and domestic sale in the market for power metering equipment manufacturers. Emerging regions such as Latin America and Middle East and Africa are offering ample growth opportunities for the power metering market owing to the increasing electricity demand in these regions. Government projects and growing infrastructure boosts the power metering market in North America.
The report covers an exhaustive analysis on:
Historical Actual Market Size, 2013-2017
Market Size and Forecast, 2018 to 2028
Supply and Demand Value Chain
Competition and Companies Involved
Market Drivers and Restraints
Regional analysis includes:
North America Power Metering Market
Latin America Power Metering Market
Rest of Latin America
Western Europe Power Metering Market
Rest of Western Europe
Eastern Europe Power Metering Market
Asia Pacific Power Metering Market
Australia and New Zealand
Rest of SEA and Others of APAC
Japan Power Metering Market
China Power Metering Market
Middle East and Africa Power Metering Market
Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. It provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. It also maps the qualitative impact of various market factors on market segments and geographies.
Detailed overview of the parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint
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