Smart Gas Metering Systems Market in UK is projected to witness a growth of over 12% by 2024. Shifting trends toward digital economy and growing measures to attain environmental sustainability will stimulate the business growth. The EU Energy Efficiency Directive outlines the legal measures to step up the efforts of EU Member States to use energy efficiently at all stages of the energy chain.
U.S. smart gas metering systems market is projected to expand over 18% by 2024. Introduction of several state rollout programs and legislative directives for the deployment of smart gas systems will positively drive the industry outlook. In 2013, the U.S. Department of Energy (DOE), through its American Recovery and Reinvestment Act (ARRA) funded the installation of smart grid technologies in the country.
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Smart Gas Metering Systems Market is set to exceed USD 9 Billion by 2024. Stringent government initiatives toward energy conservation coupled with obligatory nationwide rollout programmes pertaining to ecological sustainability will boost the smart gas metering systems market. Continual need for billing precision coupled with enhanced customer experience will further stimulate the industry growth. The Smart Metering Implementation Programme (SMIP) started by the UK government aims at replacing 53 million smart meters by the year 2020 in over 30 million residential establishments.
The implementation programme aims at efficient energy utilization and rearrangement of the energy supply system. Intensifying need to eliminate losses during gas distribution coupled with the reduction of operational expenditure of traditional metering systems will enhance the smart gas metering systems market. Increasing focus toward reduction of energy theft and the need to effectively monitor the energy consumption patterns will further embellish the industry landscape.
In 2013, the IEA predicted the worlds energy consumption to grow by 56% between 2010 to 2040. The deployment of smart meters will thus serve as an affordable solution to address the problem of rising energy consumption. AMR smart gas metering systems market will witness robust growth on account of its ability to remotely monitor energy usage. Increased profitability, easy availability, low installation cost and affordable maintenance are some of the significant parameters which will boost the product adoption. UK smart gas metering systems market will witness growth on account of government rollout programs facilitating the deployment of intelligent meters.
Active regulatory compliances pertaining to environmental conservation will further enhance the industry outlook. For instance, in 2013, the government mandated rollout targets in European Union countries consisting Ireland, UK, Italy and Netherlands for the installation of 50 million smart gas meters by 2020. Rising measures to mitigate increasing fuel prices coupled with government legislations toward sustainable energy development will enhance the smart gas metering systems market.
Increasing adoption of smart grid technologies along with the need to restructure gas pipeline networks will further propel the business landscape. Smart gas metering systems market from utilities is predicted to witness growth on account of efficient expansion of gas networks to cater the rising population index. Efforts to reduce energy costs coupled with increasing focus toward infrastructure restructuring will stimulate the product adoption during the forecast timeframe.
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