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The smart gas market size is forecast to increase by USD 18.48 billion at a CAGR of 14.76% between 2023 and 2028. The market is experiencing significant growth, driven by various factors including government regulations and initiatives, such as the push towards energy efficiency and the promotion of renewable energy sources. Another major trend is the development of smart cities, which require advanced energy management systems to ensure the efficient and sustainable use of resources. However, the integration of smart gas into existing infrastructure can be challenging due to the need for digitalization and the potential for measurement inaccuracies. The market also faces challenges, including infrastructural and standardization issues. The existing gas infrastructure is not always compatible with smart gas technologies, and there is a need for standardization to ensure interoperability and compatibility among different systems Despite these challenges, the market is expected to continue growing, driven by the increasing demand for energy efficiency and the integration of renewable energy sources into the gas grid.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The AMR segment is estimated to witness significant growth during the forecast period. Smart gas technologies are revolutionizing the energy sector by introducing self-healing networks and advanced metering infrastructure for gas pipelines. These innovations enable real-time monitoring, cost savings through energy conservation, and remote monitoring of urban gas distribution systems. Self-healing networks ensure infrastructure resilience, reducing the risk of natural gas wastage and ensuring energy efficiency.
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The AMR segment accounted for USD 8.47 billion in 2018. Smart metering roll-out offers consumer-centric solutions, enabling real-time bill payments and enhancing customer satisfaction. Urbanization and increasing energy demand necessitate investment in smart gas technologies for infrastructure upgrades, security services, and carbon emissions reduction. Blockchain solutions offer secure and innovative strategies for managing gas distribution and energy efficiency. Technology vendors are focusing on strategic business decisions, custom market research, and CGI digital enhancements to cater to the market potential of smart gas technologies. The Energy Efficiency Directive and the Opower acquisition are significant milestones in the adoption of smart metering and advanced metering infrastructure. Overall, smart gas technologies offer significant potential for urban safety, investment, and energy efficiency, making them a crucial component of the future energy landscape.
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Europe is estimated to contribute 36% to the growth of the global market during the market forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The integration of advanced technologies is revolutionizing the gas industry, enabling more efficient energy distribution and conservation. A self-healing network ensures uninterrupted service, while real-time monitoring and remote control facilitate cost savings and urban safety. Smart metering, a crucial component of the Advanced Metering Infrastructure (AMI), provides real-time information for bill payments and energy consumption analysis. Investment in smart gas technologies is essential due to urbanization, increasing energy demand, and the need to reduce natural gas wastage. The Energy Efficiency Directive mandates the replacement of traditional meters with smart ones like electronic equipment. Blockchain solutions offer secure, transparent, and customer-centric approaches to gas distribution and billing. Innovative strategies, such as CGI digital enhancements and Opower acquisition, are essential for strategic business decisions. The market potential for smart gas technologies is vast, with technology vendors addressing investment challenges and offering custom market research to cater to diverse consumer needs. Aging infrastructure and carbon emissions reduction are significant concerns, making energy efficiency and customer satisfaction key priorities. Security services are crucial to ensure the reliability and safety of smart devices and networks.
The Smart Gas Market is witnessing significant growth due to the integration of smart technologies in the energy sector. The use of smart grid technology, self-healing networks, energy management systems, and advanced metering infrastructure in gas pipelines is driving cost savings and energy conservation. Real-time monitoring, bill payments, and urban safety are some of the key benefits of smart gas technologies. The market potential for smart gas technologies is immense, especially in urban areas undergoing urbanization. The aging infrastructure of gas distribution networks and the increasing energy demand are major challenges that smart gas technologies aim to address. The implementation of the Energy Efficiency Directive and the need to reduce natural gas wastage are also contributing to the growth of the market. Smart devices, such as smart meters, are playing a crucial role in the smart metering roll-out. These devices provide real-time information to consumers, enabling them to make informed decisions about their energy usage. Consumer trust is essential for the successful implementation of smart gas technologies, and security services are being employed to ensure data privacy and cybersecurity. The investment in smart gas technologies is expected to increase as governments and industries recognize the importance of reducing carbon emissions and improving energy efficiency. The market for smart gas technologies is expected to grow significantly in the coming years, providing opportunities for companies operating in this space. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The government regulations and initiatives is notably driving market growth. In the utility sector, the implementation of smart gas initiatives is gaining momentum due to increasing concerns over energy security, greenhouse gas emissions, and carbon footprint. Smart gas systems, which include digital components such as smart grids and smart meters, are being adopted to optimize natural gas consumption in various end-use sectors, including power generation, manufacturing processes, and commercial applications. These systems help reduce energy losses and improve energy management, making them essential for sustainability and competitiveness in a rapidly digitalizing energy market. Governments worldwide are encouraging the adoption of these systems through regulatory policies.
For instance, the European Union has been promoting energy conservation measures, with the usage of gas meters in European countries. They enable real-time monitoring and analysis of gas consumption patterns, facilitating energy savings and reducing greenhouse gas emissions. Furthermore, the electrification of industries and the shift towards renewable energy sources are expected to increase the demand for smart gas systems, as they can provide a reliable and flexible energy source to supplement renewable energy generation. Overall, the adoption of smart gas systems is an essential step towards a more sustainable and efficient energy future. Thus, such factors are driving the growth of the market during the forecast period.
The development of smart cities is the key trend in the market. In the utility sector, the integration of smart gas technology is revolutionizing the way natural gas is distributed and consumed. Smart gas systems, which include digital components such as smart meters and ultrasonic gas meters, enable more accurate and efficient measurement of gas consumption for commercial end-users. This not only leads to revenue impact for utility companies but also contributes to reducing greenhouse gas emissions and carbon footprint. Smart grids, a crucial part of smart cities, facilitate the integration of renewable energy sources and improve energy security. The challenges in integrating digital components into existing gas distribution systems are being addressed through regulatory policies and advancements in technology.
Power generation and manufacturing processes are also benefiting from the digitalization of gas infrastructure, leading to improved energy management and sustainability. Electrification is another trend gaining momentum in the energy sector, but the role of natural gas in a sustainable energy mix is still significant. Smart gas technology plays a crucial role in optimizing gas consumption and reducing energy losses, making it a competitive choice for energy providers. Measurement Canada and other regulatory bodies ensure the accuracy and reliability of smart gas meters, ensuring fair billing and consumer trust. Overall, the development of smart gas systems is a critical step towards a more sustainable and efficient energy future. Thus, such trends will shape the growth of the market during the forecast period.
The infrastructural and standardization challenges is the major challenge that affects the growth of the market. In the utility sector, the integration of smart gas technology is becoming increasingly important to reduce greenhouse gas emissions and improve energy efficiency. Smart gas, which includes the use of digital components such as smart grids, smart meters, and ultrasonic gas meters, can significantly impact revenue by enabling more accurate measurement of gas consumption and reducing energy losses. However, the adoption of smart gas also presents challenges, particularly in terms of IT infrastructure requirements. To effectively implement smart gas, utility companies must invest in complex IT systems, including databases, middleware, business applications, and mobile workforce management tools.
Moreover, clients are not completely aware of the technology, increasing lock-in issues as the market falls in the early stages of the technology adoption cycle. These systems are necessary to accommodate high data volumes, ensure regulatory compliance, manage new equipment and maintenance schedules, and facilitate communication with commercial end-users. The integration of these digital components into the gas distribution system can be a significant undertaking, especially for larger organizations. Moreover, the competitive market for smart gas is driven by regulatory policies promoting sustainability and energy management. The electrification of power generation and manufacturing processes is also contributing to the growth of the smart gas market. Measurement Canada and other regulatory bodies play a crucial role in ensuring the accuracy and reliability of smart gas measurement systems. Overall, the adoption of smart gas is essential for improving energy security, reducing carbon footprint, and enhancing the sustainability of the energy sector. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Badger Meter Inc. - The company is involved in offering wide range of smart gas meter such as M2000 electromagnetic flow meter, M3000 electromagnetic flow meter among others that regulate the flow of gases during every phase of exploration, production and transportation in upstream oil and gas operations.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The global market for smart gas technologies is witnessing significant growth due to the increasing focus on energy conservation, cost savings, and real-time monitoring in the energy sector. Gas pipelines are being upgraded with infrastructure that supports self-healing networks, enabling automatic detection and repair of leaks and reducing natural gas wastage. Urbanization and the need for urban safety are key drivers for the adoption of smart gas technologies. Remote monitoring, bill payments, and smart metering are becoming increasingly popular, offering consumers the ability to manage their energy usage and reduce carbon emissions. Investment in smart gas technologies is being fueled by the market potential of these innovative strategies. Traditional meters are being replaced with advanced metering infrastructure, providing real-time information and enabling consumer trust. Security services and blockchain solutions are also being integrated to ensure data integrity and customer satisfaction. The energy efficiency directive is pushing for the adoption of energy efficiency measures, and smart gas technologies are at the forefront of this trend. 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. However, investment challenges and the need for strategic business decisions present opportunities for technology vendors to provide custom market research and CGI digital enhancements. The smart gas technologies market is expected to grow significantly due to the increasing energy demand and the need for energy efficiency. With a customer-centric approach, smart gas technologies offer significant benefits, including cost savings, energy conservation, and real-time monitoring. The roll-out of smart metering is expected to continue, with Opower's acquisition and other strategic moves by key players shaping the market landscape.
The global market for Smart Gas Technologies is witnessing significant growth due to the increasing focus on Energy conservation, Cost savings, and Real-time monitoring in the Energy sector. Gas pipelines are being upgraded with Infrastructure that supports Self-healing networks, enabling automatic detection and repair of leaks and reducing Natural gas wastage. Urbanization and the need for Urban safety are key drivers for the adoption of Smart Gas Technologies. Remote monitoring, Bill payments, and Smart metering are becoming increasingly popular, offering consumers the ability to manage their Energy usage and reduce Carbon emissions. Investment in Smart Gas Technologies is being fueled by the Market potential of these innovative strategies. Traditional meters are being replaced with Advanced metering infrastructure, providing Real-time information and enabling Consumer trust. Security services and Blockchain solutions are also being integrated to ensure data integrity and Customer satisfaction. The Energy Efficiency Directive is pushing for the adoption of Energy Efficiency measures, and Smart Gas Technologies are at the forefront of this trend. 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. However, Investment challenges and the need for Strategic business decisions present opportunities for Technology vendors to provide Custom market research and CGI digital enhancements. The Smart Gas Technologies market is expected to grow significantly due to the increasing Energy demand and the need for Energy Efficiency. With a customer-centric approach, Smart Gas Technologies offer significant benefits, including Cost savings, Energy conservation, and Real-time monitoring. The roll-out of Smart metering is expected to continue, with the Opower acquisition and other strategic moves by key players shaping the market landscape.
Market Scope |
|
Report Coverage |
Details |
Page number |
136 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.76% |
Market growth 2024-2028 |
USD 18.48 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.55 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 36% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AEM SA, Aichi Tokei Denki Co. Ltd., Apator SA, Badger Meter Inc., CGI Inc., Chongqing Shancheng Gas Equipment Co. Ltd., CyanConnode Holdings plc, Diehl Stiftung and Co. KG, DTE Energy., EDMI Ltd., Flonidan AS, Holley Technology Ltd., Honeywell International Inc., Hubbell Inc., KROHNE Messtechnik GmbH, Landis Gyr AG, Neptune Technology Group Inc., Osaki Electric Co. Ltd., Pietro Fiorentini Spa, PowerCom Ltd., RMG Messtechnik GmbH, Sagemcom, Wasion Holdings Ltd., Xylem Inc., Yazaki Corp., and ZENNER INTERNATIONAL GMBH and CO.KG |
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, Market condition analysis for 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Device
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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