In terms of revenue, the Global Heat Meter Market is expected to reach USD 2.7 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 2.80% from 2022 to 2028.
A Heat Meter is a device that measures the heat energy delivered through the source. In addition, it measures the flow rate of heat transfer fluid & temperature fluctuations between its outflow and the return leg. The temperature meter has three essential components: the flow sensor, the calculator, and the temperature sensor.
Key Highlights from Report:
· The renovation of conventional heating systems and stricter regulatory requirements, norms, and policies in the commercial and industrial sectors will advance market trends. Furthermore, the growing demand for real-time data monitoring and personalized pricing of heat consumption will encourage the product rollout. Additionally, expanding the use of sustainable energy sources and emphasizing smart energy management technology will boost Heat Meter Market revenue.
· Mechanical, ultrasonic, and electromagnetic Heat Meter can be found on the market today. The absence of moving elements in ultrasonic Heat Meter sets them apart from other kinds. As a result, ultrasonic Heat Meter can measure heat more precisely. Compared to different types of Heat Meter, they also often have a longer lifespan.
· In 2020, North America dominated the Heat Meter Market for Heat Meter worldwide. Throughout the predicted period, it is anticipated that this tendency will persist. Heat Meter producers have a huge potential in nations with active industrial sectors, like China.
The regulatory push for thermal energy consumption is the key market driver for the worldwide Heat Meter Market. The market expansion of the Heat Meter is also driven by growing awareness about reducing carbon footprints and efficient thermal energy management. The high initial cost of the Heat Meter is a significant market limitation for the global Heat Meter Market. Moreover, the economic dynamics will be fueled by favorable government policies that encourage the installation of smart energy devices and optimized energy use. Extreme weather patterns, rising concern over carbon emissions, and the creation of effective heating technologies will increase Heat Meter Market demand.
North America is anticipated to dominate the global market for Heat Meter. In the North America, the Renewable Heat Incentive (RHI) is expected to increase Heat Meter sales. Because of federal rules in the USA and government encouragement in Canada, the North America market for Heat Meter is expected to increase steadily.
- Wired Connection
- Wireless Connection
- Commercial & Public
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Heat Meter Market is:
Danfoss (Denmark), Siemens (Germany), Diehl (Germany), Wasion Group (Hong Kong), Landis+Gyr (Switzerland), Itron (US), Zenner (Germany), Ista (Germany), Elster (Germany)
The Global Heat Meter Market Scope can be Tabulated as below: