POWER METERING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The power metering market is estimated to be valued at USD 12.72 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. The global power metering market has witnessed significant growth in recent years due to the increasing focus on grid infrastructure development and the adoption of smart grid technologies. Power metering solutions help utilities monitor energy consumption patterns and power quality in real-time. They facilitate more efficient demand management and help reduce non-technical losses. With rising energy costs and growing environmental concerns, accurate metering has become critical for energy savings and conservation. The market has been driven by supportive government policies and regulations promoting smart grid projects and advanced metering infrastructure. Ongoing technological advancements in metering technologies such as the integration of communication capabilities and IoT are further expanding the potential of this market.

Market Dynamics:

The power metering market is growing at a rapid pace globally. The key drivers contributing to the market growth include growing investments in smart grid projects for modernizing aging power infrastructure, stringent regulations mandating the deployment of smart meters. Rising focus on energy conservation with the help of advanced metering solutions, and increasing adoption of renewable energy sources which is elevating the need for improved grid monitoring and control. However, high initial installation and maintenance costs of smart meters pose a major challenge to the market. Cybersecurity issues concerning meters connected through communication networks is another restraining factor. The market players have significant opportunities from emerging economies investing heavily in power grid upgrade programs. Rapid technological advancements in metering technologies will further open up new avenues. The adoption of cloud computing, big data analytics, and integration of metering solutions with home energy management systems are some lucrative prospects.

Key Features of the Study:

• This report provides in-depth analysis of the global power metering market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global power metering market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include General Electric, Itron, Toshiba Corporation, Melrose Industries plc., Wasion Group Holdings Ltd., ABB, Eaton Corporation Plc, Siemens AG, Holley Metering, Aclara Technologies LLC, Kamstrup AS , HPL India, Power India Meters, Schneider Electric, Techno Meters & Electronics, Genus Power Company, Eastron Electronic Co., Ltd., Camax Ltd, Autometers Systems, and Holley Tech UK
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global power metering market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global power metering market

Detailed Segmentation-

• By Type:
• • Smart
  • Digital
  • Analog
• By Phase Type:
• • Single-phase
  • Three-phase
• By End-User:
• • Residential
  • Commercial
  • Industrial
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • General Electric
  • Itron
  • Toshiba Corporation
  • Melrose Industries plc.
  • Wasion Group Holdings Ltd.
  • ABB
  • Eaton Corporation Plc
  • Siemens AG
  • Holley Metering
  • Aclara Technologies LLC
  • Kamstrup AS
  • HPL India
  • Power India Meters
  • Schneider Electric
  • Techno Meters & Electronics
  • Genus Power Company
  • Eastron Electronic Co., Ltd.
  • Camax Ltd
  • Autometers Systems 
  • Holley Tech UK