According to the latest report by IMARC Group, titled “Gas Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global gas meter market size was US$ 3.2 Billion in 2018. A gas meter is a specialized flow meter designed for measuring the volume of various fuel gases such as natural gas and propane. The meter can provide the measurement irrespective of the quantity or quality of the gas flowing through it. These measurements help in keeping track of gas usage, calculating accurate bills and ensuring safe pressure of the gas. At present, there are two main variants of gas meters available in the markets, namely, displacement meters and flow meters. Displacement meters, such as diaphragm and rotary displacement meters, are used in residential applications. Whereas, flow meters, like turbine meters, are sensitive to the disturbed upstream flow profile and are usually installed in spaces where large gas quantities need to be measured.
Report Overview: https://www.imarcgroup.com/gas-meter-market
Global Gas Meter Market Trends:
Over the past few years, numerous technological advancements have led to the development of smart meters. These meters offer better management of energy use, personalized reports and accurate billing. The emerging demand for smart meters is expected to lead the growth of the market in the near future. Other than this, governments of various nations have taken initiates to promote the installation of gas meters for reducing gas emissions. For instance, in 2018, the UK Government initiated the ‘Smart Metering Implementation Programme’ to replace over 53 million conventional gas and electricity meters with smart metering systems by the end of 2020. Moreover, there has been a notable rise in the consumption of natural gas by the manufacturing industry, which is further providing support to the buoyant demand for gas meters. Looking forward, the market is anticipated to reach a value of US$ 4.3 Billion by 2024, at a CAGR of 4.6% during 2019-2024.
Get a PDF Sample for more detailed market insights https://www.imarcgroup.com/gas-meter-market/requestsample
Market Summary:
Browse similar reports by IMARC Group
Global Flow Meter Market Report and Forecast: https://www.imarcgroup.com/flow-meter-market
Global Ultrasonic Flowmeter Market Report and Forecast: https://www.imarcgroup.com/ultrasonic-flowmeter-market
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media ContactCompany Name: IMARC GroupContact Person: Richard LewisEmail: Send EmailPhone: 6317911145Address:309 2nd St City: BrooklynState: New YorkCountry: United StatesWebsite: www.imarcgroup.com