The global gas meter market was valued at $5.8 billion in 2020, and is projected to reach $9.7 billion by 2028, growing at a CAGR of 6.6% from 2021 to 2028.

Gas meter is a flow meter, which is used to measure the fuel volume such as natural gas or liquid petroleum gas. A gas meter consists of four measurement chambers, which are separated by diaphragm. It is necessary to ensure adequate gas pressure from the main supply of natural or liquefied petroleum gas. Gas meters are widely used in various commercial places as well as large residential areas for measuring the volumetric flow rate and monthly energy bills.

Rapid industrialization has led to increase in usage of natural gas in various emerging economies with large population pool. The installation of gas meters helps in reducing the wastage of gas during transmission and distribution. Moreover, the mandatory installation of smart meters in households and commercial areas is expected to boost the market growth. In addition, increase in demand for efficient energy technologies such as implementation of IOT (internet of things) will further drive the demand for various smart meters. The implementation of IOT (internet of things) simplifies the process meter reading, and it provides web interface between consumers and service providers. In addition, replacement of old conventional meters with new smart meters will further escalate the market growth. For instance, the Government of India is planning to replace 250 million conventional meters into smart meters by 2022.

The high capital investment and integration of complex technologies are the major challenges during the initial phase. Moreover, the maintenance of gas meter is capital intensive, which makes the application limited for small residential areas.

Nonetheless, favorable government policies and rebates schemes from industry players on installation of gas meters are expected to provide new growth opportunities in the market.

The global gas meter market is segmented on the basis of product type and end user. On the basis of product type, it is divided into traditional gas meter and smart gas meter. By end user, the market is classified into residential, commercial, and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Major players have adopted business expansion, merger, and acquisition to sustain the intense market competition. Some of the key players profiled in the report include General Electric, Itron, Elster, Landis+Gyr, ABB, Aclara, and Badger Meter.

COVID-19 scenario analysis
- The gas meter market has been severely impacted by the outbreak of COVID-19 across the globe. The market witnessed large fall in demand, owing to large number of shutdowns in the industrial sector.
- As the demand from end users gradually decreased, the wholesale gas meter price also decreased.
- In addition, the country wise lockdown measures delayed the installation of large number of new smart meters. Companies, who already invested in Advanced Metering Infrastructure (AMI), will not resume operation until they are financially stable.
- But stockpiling practices disrupted the supply chain of vendors, and will maintain the market demand during the pandemic.
- However, shifting trend toward work from home norms and growing residential energy consumption will escalate the installation of gas meters for residential end-users.
- In the post COVID period, industry players will focus to re-asses their supply chain and consider whether sourcing from domestic players closer to operational site may improve the supply chain.


Key benefits for stakeholders
- The global gas meter market analysis covers in-depth information of major industry participants.
- Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides in-depth analysis of the global gas meter market forecast for the period 2021-2028.
- The report outlines the current global gas meter market trends and future estimations of the market from 2019 to 2028 to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, & market opportunity and their detailed impact analysis are explained in the study.

Key market segments
- By Product Type
- Traditional gas Meter
- Smart gas Meter
- By End-User
- Residential
- Commercial
- Industrial
- By Region
- North America
o U.S.
o Canada
o Mexico
- Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe
- Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Rest of Asia-Pacific
- LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA