Increased awareness about electrical leaks boosts the need for electrical Sub-meters In COVID-19.
The coronavirus epidemic has put electric sub-meters primary production and supply channels in a state of limbo. Electric sub-meter manufacturers are anticipating that businesses will see an immediate recovery following the outbreak. The opening of various manufacturing facilities has created job opportunities for workers. It is expected to grow by the year 2021.
The number of COVID-19-infected individuals is indeterminate throughout the world. Thus, businesses that sell electric sub-meters are targeting those aware of the savings that can be made, for instance, companies that offer rental services and industrial and commercial industries. Since people are conscious of electrical leaks and power outages, there is a growing demand for intelligent sub-meters that can provide precise and current information on energy consumption.
New Meters Do Not Exclude the Electricity Costs of Common Areas of Building
The distribution of energy costs is usually more precise and well-documented through electric sub-meters. However, in many cases, they do not eliminate the requirement for the installation of a meter in shared spaces of a building, such as corridors, vestibules, basements, or underground parking. Thus, Hydro-Qubecs meters are gaining recognition as energy-efficient solutions that eliminate the power consumption of standard zones.
The market for electric submeters is predicted to reach the value threshold of US$7.7 billion by the end of 2030. 7.7 Bn by the close of the year 2030. This Multilin EPM 4600Multi-feed Energy and Power Meter made by the technology giant General Electric (GE) is getting recognition for rapidly, precisely, efficiently, and centrally assessing the energy and power consumption in particular areas lower operating costs.
Digital Metering Solutions Gaining Attention of Factory Owners
Advanced capabilities for login and communication are now integrated into products supplied by companies that operate in the sub-meter market for electricity. Manufacturers are expanding the selection of sub-metering systems that offer extensive data logging and options, such as Wi-Fi or USB (Universal Serial Bus), making it easy to integrate into existing and new infrastructures. The companies in the electric sub-meter market are creating solutions to track and manage energy consumption in workplaces, factories, and across campuses.
Digital metering is rapidly growing in the sub-meter market for electricity. A wide range of records of alarms and data logging capabilities for systems are attracting the attention of buyers. Modern analysis of systems and their predictive performance creates value-grabbing opportunities for the manufacturers.
BMS, AMT Systems, aM&T Systems, and Fuel Demand Electric Sub-meters
With the climate debate heating up over changes, businesses need to use electronic sub-meters. These devices aid in accurately and precisely measuring energy use in factories, buildings, and campuses. The stakeholders across Europe comply with the Metering Instruments Directive (MID) to allow new meters are installed according to guidelines. End-users in retail chains, airports, hospitals, and local authorities are now aware of implementing efficient energy management strategies.
BMS or Building Management Systems (BMS) are being integrated with electric sub-meters to break down the energy consumption into distinct segments. This is a boon for businesses operating in the electric sub-meter market. Automated Monitoring and Targeting (aM&T) devices are becoming a significant factor in the market for electric sub-meters growth.
Cooperation with Experts in Energy leads to the Provision of Customized Sub-Metering Solutions.
Innovative analytical tools incorporating real-world data are becoming more popular in sub-metering systems. CLPe Solutions, a -a specialist in infrastructure and energy solutions, is getting recognition for its sub-meters and innovative downstream logger systems that allow facilities to operate more efficiently and efficiently.
Managing a campus with multiple buildings or one high-rise building is now easier thanks to the introduction of sub-metering systems for administration and support. Businesses in the electric sub-meter market are working with energy experts to provide solutions based on technology to users to obtain real-time information about energy usage. Companies are making more efforts to provide custom sub-metering services to customers who wish to record their site’s energy consumption.
Electric Sub-meter Market An Overview
- According to the MWR’s most recent analysis report of the sub-meter market in electric for the period between 2018, and 2019, along with the projection for 2030 2030, the growing use of electric sub-meters for industrial and commercial applications is predicted to increase the sub-meter market for electric around the globe
- As for revenue figures, the world sub-metering market for electricity is predicted to surpass US$7.7 billion by 2030. 7.7 Bn by 2030, growing by a CAGR of 4 percent over the forecast timeframe.
- The market for electric submeters is expected to proliferate during the forecast time frame, due to regulations that are mandatory to allow its use in advanced countries, and the increasing use of energy management around the globe
Use of Electric Sub-meters in Industrial and Commercial Industries as a key driver
- Industrial and commercial locations across the globe are seeing a growing demand for electric sub-meters to assist in monitoring, controlling, and regulating the proper use of energy
- Sub-metering in real-time can bring many benefits to buildings, including optimizing the performance of equipment, more intelligent alarms, dynamic control, and verification of project performance
- Sub-metering data is a great way to maximize efficiency and energy savings in a complete automated building system providing advanced analysis and control modifications to regulate energy usage
- Therefore, the growing demand for sub-meters that are electric in industrial and commercial sectors all over the world is expected to fuel the market in the forecast time
- But, the high price for electric submeters is among the primary factors impacting the market for electric sub-meters worldwide. Additionally, smart sub-metering adds costs for data collection and analysis as maintenance.
- The impact on the effect of restraints is expected to lessen over the forecast time frame due to increasing awareness of efficient energy management, precise billing, and more transparency.
The increasing use of electric sub-meters in the industrial sector
- The industrial industry is predicted as the largest and most desirable Sector due to the growing use of sub-meters with electric power in manufacturing, process industries, and manufacturing. Utilizing innovative control strategies and validating the performance of projects
- Additionally, strict government regulations have been enacted to permit the installation of electric sub-meters in the industrial Sector. Industries are likely to comprise nearly half of the world’s electric sub-meters over the forecast time.
- Particularly, three-phase electric sub-meters are gaining use in the industry to optimize the performance of equipment and project performance visualization, and monitor the sustainability of energy sources. Sub-meters that are revenue-grade are widely preferred over standard sub-meters for production and other industrial processes.
- In addition, intelligent submeters have replaced conventional electronic sub-meters in the manufacturing and process industries, as they permit sophisticated analysis and dynamic changes to control energy consumption. So, despite their high price, their use is increasing in the industry sector of the developed nations located in North America and Europe.
Electric Sub-meter Market The Competition Landscape
- The detailed profiles of electric sub-meter makers are included in the Report for evaluating their financial information, the most essential products, and SWOT analysis, as well as new developments, and strategies
- Principal players operating in the electric sub-meter market
- Siemens AG
- Elster Group
- GE Digital Energy
- Honeywell International Inc.
- Kamstrup AS
- Leviton Manufacturing Co. Inc.
- Nuri Telecom Co. Ltd.
- Schneider Electric SE
- Submeter Solutions
Electronic Sub-meter Market Major developments
- Electric sub-meters from significant manufacturers like Schneider Electric, Kamstrup, GE Digital Energy, and Honeywell International Inc. focus on technological advancements in their electric sub-meter portfolio. For instance, manufacturers like General Electric Co. and Siemens AG provide multi-functional sub-meters equipped with Ethernet, Modbus, and Wi-Fi communications connections. They are also using current transformers in place of current sensors to boost the capacity to handle electric current in sub-meters, mainly for industrial and commercial applications.
- Other significant developments in the sub-meter market for electric power are highlighted in the following paragraphs:
- In November 2020, Kamstrup signed a partnership with Goteborg Energi for a turnkey intelligent metering system. The partnership enabled the replacement of 275,000 electricity meters with new intelligent meters using the latest technologies in Sweden. Additionally, that same year, Kamstrup made a deal with Avance Metering to enable a simple transition from the old generation to the new generation of intelligent meters.
- In September 2020, Schneider Electric launched advanced equipment likely to assist the electricity distribution companies of Nigeria in correcting grid failures and restoring power after a disruption within less than a minute
- In the electric sub-meter market research report, we have discussed different strategies, followed by the company profiles of the companies that sell electric sub-meters. The competition Landscape section is included within the study to provide the readers with a visual representation of a dashboard and market share analysis for the key companies operating in the electrical submeters market.
The Electric Submeter Meter Market is the subject of the report
MWR releases a new study of the electric sub-meter market in the world. It provides comprehensive information on essential market dynamics, including the drivers, trends, and challenges for the electric sub-meter market as the market structure. MWR’s research provides valuable information about the electric sub-meter market to demonstrate how the market is likely to grow over the forecast timeframe, i.e., 20202030.
Market growth indicators that are key to understanding, including value chain analysis as well as the compound annual rate of growth (CAGR) and CAGR, have been explained in the MWRs study thoroughly. The information can assist readers in understanding the growth factors in a quantitative manner of the sub-meter electric market.
An in-depth analysis of the business strategies employed by the top market players is presented in the MWR study of the global electronic sub-meter industry. This will help readers comprehend the key elements that drive the expansion of the sub-meter electric market. In this Report, readers will also find specific information on the avenues to the growth of quantitative and qualitative aspects of the sub-meter market for electric. The data can help market participants to make the best choices shortly.
The MWR’s Key Questions are Answered in the Research on Electric Sub-meter Market
- What will be the Y-o Y expansion trend for the electric sub-meter market in the world between 2020 and 2030?
- What impact does shifting trends in the kinds of electric sub-meters have on the global market?
- Will North America continue to be the largest regional market for the supply of electric sub-meters for the next few years?
- What factors could hamper the electric sub-meter market globally in the coming forecast timeframe?
- Which are the most prominent corporations operating in the global sub-meter market for electric electric
A distinctive research method has been employed in MWR to conduct an extensive analysis of the global sub-meters for electric power and come to conclusions regarding the expansion prospects of the marketplace. The research method is a blend of secondary and primary research that helps analysts ensure the validity and accuracy of the findings drawn.
Secondary research sources cited by analysts when preparing MWR’s Report about the electric sub-meter market worldwide include annual company documents, SEC filings, company websites, World Bank database, investor presentations, government publications, regulatory databases, and market whitepapers. Analysts also spoke with senior managers, portfolio executives, CEOs, VPs, and market intelligence executives who have been involved in the MWR’s production of MWRs research on the electric sub-meter market worldwide as the primary research source.
These sources, both primary and secondary, included complete information during interviews and provided a proof of concept from the top players in the sub-meter market for electric power. Access to a vast internal repository and other proprietary databases from outside enabled this study to tackle specific questions and details regarding the sub-meter market for electricity with precision. The Report also utilizes an approach that is top-down to evaluate the figures for each segment, as well as an approach that is bottom-up to validate these numbers. This has made MWRs estimates of prospects for the sub-meter market for electricity more accurate and reliable.
|Electric Sub-meter Market Report Scope and Segmentation|
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Electric Sub-meter Market Segmentation
MWRs study the world electric sub-meter market segment the market according to the type, phase, and region. Market trends that are changing and important market dynamics associated with segments of the sub-meter market for electric have been examined in depth in the MWRs research.
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA