PARIS – The gas meter market is to exceed $2 billion annually in 2013, according to market researcher.
In its report, The World Market for Gas Meters – 2012, IMS Research said it anticipates that new advanced metering initiatives and construction in developing countries will increase market revenues to over $2.7 billion by 2016.
The EMEA (Europe, the Middle East and Africa) region will experience strong growth at about 12-percent year-over-year until 2016. EU member countries are indeed adopting directives for communicating gas meters to be installed in homes and businesses in the years to come. Asian countries are also expanding their gas infrastructure.
“Utilities are understandably reluctant to replace meters that have a typical lifespan of 30-40 years for newer technologies,” stated Jacob Pereira, an analyst at IMS Research.
Pereira continued: “As regulators around the world require increased functionality from gas meters, some utilities are being forced to replace meters early, resulting in larger shipment numbers than had been observed in the past. Until relatively recently, advanced gas meter solutions were almost exclusively limited to the North American market, but we’ve observed a rapid change from the status quo to advanced meter adoption in many areas of the world.”
IMS recently said it expects the North American utility gas meter market will surpass $500 million per year starting in 2014.
IMS Research indeed explained that the revenue growth will be supported by the automation of gas endpoints via two-way meters and retrofit communications modules as well as an added boost from the large Southern California Gas Company (SoCalGas) fixed network installation.
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