Power Metering Market Research by End-user and Geography - Forecast and Analysis 2022-2026

Published: Sep 2022 Pages: 129 SKU: IRTNTR74239

The power metering market share is expected to increase by USD 8.97 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.9%.

This power metering market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers power metering market segmentation by end-user (residential, commercial, and industrial) and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The power metering market report also offers information on several market vendors, including ABB Ltd., Aichi Tokei Denki Co. Ltd., ALLETE Inc., Eaton Corp. Plc, General Electric Co, Holley Technology Ltd., Honeywell International Inc., Hubbell Inc., Itron Inc., Jabil Inc., Kamstrup AS, Landis Gyr AG, Networked Energy Services, Ningbo Sanxing Medical and Electric Co. Ltd., Schneider Electric SE, Shenzhen Kaifa Technology Co. Ltd., Siemens AG, Suntront Tech Co. Ltd., Wasion Holdings Ltd., and Xylem Inc. among others.

What will the Power Metering Market Size be During the Forecast Period?

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Power Metering Market: Key Drivers, Trends, and Challenges

The growing investment in smart grid projects is notably driving the power metering market growth, although factors such as the high cost of the product may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the power metering industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Power Metering Market Driver

The growing investment in smart grid projects is one of the major drivers impacting the power metering market growth. Smart grid networking technologies help integrate renewable power generation technologies with the grid. Smart grid networking includes generation, transmission, distribution, and end usage of electricity. Increased endeavors from several countries to achieve better energy management and improve energy efficiency across their power sector have led to an increase in the implementation of smart grid networking technologies. The gradual shift from conventional energy generation sources to renewable sources has also fueled the development of smart grid technologies. There have been huge developments in the smart grid sector across countries, such as China, India, and Japan. The shift toward smart grids results in utilities managing complex smart devices, thus reducing the risk of grid failures and outages. Hence, the growing investment in smart grid projects can become a major driver for the growth of the global power metering market during the forecast period.

Key Power Metering Market Trend

Growing demand for wireless smart power meters is one of the major trends influencing the power metering market growth. The growing pressure on utilities to address aging infrastructure challenges is compelling utilities to upgrade their infrastructure. This has led to the adoption of a smart energy network and a cohesive set of systems, products, and solutions that enable electric utilities to remotely and continuously monitor and diagnose problems related to distribution. The adoption of a smart energy network enables utilities to control the entire system using sensor networks and geographic information systems (GIS). This allows utilities to monitor and evaluate the energy flow, which can lead to better decision-making for developing sustainable management of resources. A smart power network has distinct layers, which perform designated functions by interacting with the adjacent layers such as advanced metering infrastructure (AMI) and automated meter reading (AMR) meters, that measure the flow, pressure, energy usage, and quality.

Key Power Metering Market Challenge

The high cost of the product is one of the major challenges impeding the power metering market growth. The benefits gained by the installation of smart power meters do not make a solid business case, especially in smaller utilities that do not have the required capital for huge investments. In addition, the installation of such expensive technologies in a country with a large population is a huge proposition. Also, utilities must invest in networking technology, which connects smart power meters to smart power meter utilities. This integration with networking technology is a vital part of smart power meter installations, which adds to the overall cost of these meters. The replacement cost of old meters is also high. All these factors together are hindering the adoption of power metering systems in certain regions. AMI operational costs include costs for metering operations, communications operations, and consumer education. Hence, the high cost of the product can become a major challenge for the growth of the global power metering market during the forecast period.

This power metering market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global power metering market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the power metering market during the forecast period.

Who are the Major Power Metering Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Aichi Tokei Denki Co. Ltd.
  • ALLETE Inc.
  • Eaton Corp. Plc
  • General Electric Co
  • Holley Technology Ltd.
  • Honeywell International Inc.
  • Hubbell Inc.
  • Itron Inc.
  • Jabil Inc.
  • Kamstrup AS
  • Landis Gyr AG
  • Networked Energy Services
  • Ningbo Sanxing Medical and Electric Co. Ltd.
  • Schneider Electric SE
  • Shenzhen Kaifa Technology Co. Ltd.
  • Siemens AG
  • Suntront Tech Co. Ltd.
  • Wasion Holdings Ltd.
  • Xylem Inc.

 

This statistical study of the power metering market encompasses successful business strategies deployed by the key vendors. The power metering market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The power metering market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Power Metering Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the power metering market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Power Metering Market?

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46% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the power metering market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rising population, increasing urbanization, growth in manufacturing industries, and supportive regulatory actions will facilitate the power metering market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 adversely affected the growth of several end-user industries, including power and utility industries in the region. The rising number of COVID-19 cases resulted in strict lockdowns in most of these countries in the region, which led to the temporary halt of power meter development projects. In addition, investments in smart grid projects were very low, which negatively impacted the growth of the market in 2020.

What are the Revenue-generating End-user Segments in the Power Metering Market?

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The power metering market share growth by the residential segment will be significant during the forecast period. Growth in the segment can be attributed to several factors, such as increased initiatives by the respective legislative bodies to implement smart metering in residential spaces, a rise in the number of proposals for the establishment of smart grids on a regional level, and mandates regarding the replacement of traditional analog-installed meters.

This report provides an accurate prediction of the contribution of all the segments to the growth of the power metering market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Power Metering Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.9%

Market growth 2022-2026

$8.97 billion 

Market structure

Fragmented

YoY growth (%)

7.52

Regional analysis

APAC, Europe, North America, South America, and the Middle East and Africa

Performing market contribution

APAC at 46%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., Aichi Tokei Denki Co. Ltd., ALLETE Inc., Eaton Corp. Plc, General Electric Co, Holley Technology Ltd., Honeywell International Inc., Hubbell Inc., Itron Inc., Jabil Inc., Kamstrup AS, Landis Gyr AG, Networked Energy Services, Ningbo Sanxing Medical and Electric Co. Ltd., Schneider Electric SE, Shenzhen Kaifa Technology Co. Ltd., Siemens AG, Suntront Tech Co. Ltd., Wasion Holdings Ltd., and Xylem Inc. 

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Power Metering Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive power metering market growth during the next five years
  • Precise estimation of the power metering market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the power metering industry across APAC, Europe, North America, South America, and the Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of power metering market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Residential - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Residential - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Residential - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Residential - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Residential - Year-over-year growth 2021-2026 (%)
    • 5.4 Commercial - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Commercial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Commercial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Commercial - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Commercial - Year-over-year growth 2021-2026 (%)
    • 5.5 Industrial - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Industrial - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Industrial - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 40: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Japan - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 ABB Ltd.
              • Exhibit 93: ABB Ltd. - Overview
              • Exhibit 94: ABB Ltd. - Business segments
              • Exhibit 95: ABB Ltd. - Key offerings
              • Exhibit 96: ABB Ltd. - Segment focus
            • 10.4 Eaton Corp. Plc
              • Exhibit 97: Eaton Corp. Plc - Overview
              • Exhibit 98: Eaton Corp. Plc - Business segments
              • Exhibit 99: Eaton Corp. Plc - Key news
              • Exhibit 100: Eaton Corp. Plc - Key offerings
              • Exhibit 101: Eaton Corp. Plc - Segment focus
            • 10.5 General Electric Co
              • Exhibit 102: General Electric Co - Overview
              • Exhibit 103: General Electric Co - Business segments
              • Exhibit 104: General Electric Co - Key news
              • Exhibit 105: General Electric Co - Key offerings
              • Exhibit 106: General Electric Co - Segment focus
            • 10.6 Honeywell International Inc.
              • Exhibit 107: Honeywell International Inc. - Overview
              • Exhibit 108: Honeywell International Inc. - Business segments
              • Exhibit 109: Honeywell International Inc. - Key news
              • Exhibit 110: Honeywell International Inc. - Key offerings
              • Exhibit 111: Honeywell International Inc. - Segment focus
            • 10.7 Hubbell Inc.
              • Exhibit 112: Hubbell Inc. - Overview
              • Exhibit 113: Hubbell Inc. - Business segments
              • Exhibit 114: Hubbell Inc. - Key offerings
              • Exhibit 115: Hubbell Inc. - Segment focus
            • 10.8 Itron Inc.
              • Exhibit 116: Itron Inc. - Overview
              • Exhibit 117: Itron Inc. - Business segments
              • Exhibit 118: Itron Inc. - Key offerings
              • Exhibit 119: Itron Inc. - Segment focus
            • 10.9 Kamstrup AS
              • Exhibit 120: Kamstrup AS - Overview
              • Exhibit 121: Kamstrup AS - Business segments
              • Exhibit 122: Kamstrup AS - Key offerings
              • Exhibit 123: Kamstrup AS - Segment focus
            • 10.10 Landis Gyr AG
              • Exhibit 124: Landis Gyr AG - Overview
              • Exhibit 125: Landis Gyr AG - Business segments
              • Exhibit 126: Landis Gyr AG - Key news
              • Exhibit 127: Landis Gyr AG - Key offerings
              • Exhibit 128: Landis Gyr AG - Segment focus
            • 10.11 Networked Energy Services
              • Exhibit 129: Networked Energy Services - Overview
              • Exhibit 130: Networked Energy Services - Product / Service
              • Exhibit 131: Networked Energy Services - Key offerings
            • 10.12 Siemens AG
              • Exhibit 132: Siemens AG - Overview
              • Exhibit 133: Siemens AG - Business segments
              • Exhibit 134: Siemens AG - Key news
              • Exhibit 135: Siemens AG - Key offerings
              • Exhibit 136: Siemens AG - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 137: Inclusions checklist
                • Exhibit 138: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 139: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 140: Research methodology
                • Exhibit 141: Validation techniques employed for market sizing
                • Exhibit 142: Information sources
              • 11.5 List of abbreviations
                • Exhibit 143: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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