Smart Gas Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The smart gas meter market witnessed a shipment of approximately 15.77 million units of smart gas meters globally in 2020 and is estimated to reach to 21.83 million units by 2026, registering a CAGR of 5.8% for the forecast period (2021-2026). Rising concerns about greenhouse gas emissions and the increasing need to reduce carbon footprint resulted in the increased use of natural gas, hence, driving the market. Also, Smart grids play a crucial role in smart city deployment and are the primary consumers of smart electricity meters, alike gas meters. Hence, the deployment of smart gas solutions is increasing significantly.
Key HighlightsThe Smart Gas Market is moderately competitive and consists of a few major players. In terms of market share, some of the major players currently dominate the market. However, with the advancement in analytics across the industry, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
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