Europe Heat Meters Market Size By Product (Ultrasonic, Vortex), By Technology (Mechanical, Static), By Application (Residential, Commercial, Industrial), Industry Analysis Report, Country Outlook, Application Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 - 2027
The Europe heat meters market is expected to grow substantially by 2027 owing to mounting demand for heating systems around the world. Additionally, growing emphasis on energy management and conservation is likely to augment market uptake in the forthcoming years.
Heat meters are installed in residential and industrial buildings and multipurpose facilities to effectively account for the amount of energy consumed. Heat metering systems help monitor any potential leakages and improve energy efficiency. Notably, rising emphasis on energy conservation has prompted governments across the globe to necessitate the installation of heat meters in buildings that have a central cooling/heating system supplied by the district heating network, which has fostered industry expansion in recent years.
Moreover, prominent industry players are employing lucrative strategies to strengthen their foothold in the rapidly evolving market by way of collaborations, product launches, technological integration, and so on, which has enhanced the overall business landscape.
For instance, in September 2021, Landis+Gyr Group AG, a leading energy management company specializing in metering solutions, inked an agreement to acquire Luna Elektrik Elektronik Sanayi ve Ticaret A.Ş., a major provider of metering devices for heat, electricity, and water. Luna’s wide range of metering devices and related software solutions as well as a strong market presence in Turkey reinforced Landis+Gyr’s product portfolio and enabled the expansion of its consumer base in key regions.
In another instance, in May 2021, Itron, Inc., a major provider of water and energy management solutions, announced a strategic collaboration with tech behemoth Microsoft Corporation to develop a cloud-based meter management data (MMD) service. As part of the agreement, the firms conducted the subsequent round of meticulous performance and scalability testing on the Itron Enterprise Edition Meter Data Management (IEE MDM) product. This deal also marked the first time the industry's only meter data management solution ran large-scale benchmarks in Microsoft Azure.
The Europe heat meters market has been segmented on the basis of technology, product, application, and country. In terms of application, the market has further been bifurcated into commercial, residential, and industrial. The residential application segment is projected to observe robust growth through the forecast period owing to surging preference for personalized metering systems in residential complexes in the region.
With respect to country, the Europe heat meters market has been divided into Sweden, Poland, Norway, Czech Republic, Germany, UK, Italy, Russia, Finland, Denmark, Lithuania, Latvia, Estonia, Spain, Switzerland, and Austria.
The Denmark heat meters market is foreseen to progress at a significant pace over 2021-2027 on account of rising demand for personalized heating units in the country. Meanwhile, the Norway heat meters market is set to garner notable gains by 2027, registering a CAGR of approximately 5.0% over the assessment period.
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