The Global Heat Meter Market is projected to reach USD 1.32 billion by 2028, growing at a CAGR of 6.5% during the forecast period. A heat meter is also called as a flux calorimeter. It is a tool that measures thermal energy supplied by a source or delivered to a sink by measuring the heat transfer fluid flow rate and changes in its temperature between the system's outflow and return legs. It is usually used for the measurement of boiler yield and heat taken by the system in industrial plants and for the measurement of heat supplied to consumers by district heating schemes.
The heat meters market is driven by several factors. A recent development involves concerns regarding climate change caused by global warming. Governments are providing incentives to citizens and industries to limit and monitor their thermal energy use in order to reduce the effect of climate change caused by human activities. This has greatly increased the need for heat meters in various sectors, for example, district heating & cooling systems. However, certain factors are restricting the heat meters market. A major restraint of the heat meters market is adoption of alternative heat sources such as rooftop solar panels.
Based on type, the heat meter market is segmented into static, mechanical, vortex and others. Static heat meter is expected to hold a prominent share in the global heat meter market. Increasing implementation of automated and radical construction techniques combined with the growth of district heating systems across industrial and commercial formations is anticipated to boost demand for the static heat meter. Growing demand for combined heating and cooling application with high precision data recording with static measurement principal will encourage product penetration. Increasing demand for regeneration technologies along with high data precision recording mechanism will definitely influence the product growth.
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In this report, the heat meter industry has been analyzed with respect to four regions, namely, Americas, Europe, Asia Pacific, and Middle East. Asia Pacific is estimated to be the largest heat meter market from 2016 to 2028. The increase in construction activities and change in climatic conditions offer high growth opportunities for the heat meter market in this region. Furthermore, rapid urbanization in China has raised the demand for thermal comfort, which is likely to drive the heat meter market. These factors have made China one of the most lucrative markets for heat meter manufacturers.
Companies Covered: Major Companies profiled in the report which are key players in the global heat meter market include Diehl, Kamstrup, Qundis, Landis+Gyr, Haifeng, Zhifang, Sontex, Siemens, Engelmann, Zenner, MWA Technology Ltd., Quadlogic Meters Canada Inc., and WeihaiPloumeter Co. Ltd.
Key Factors Impacting the Grwoth of Heat Meter Market:
• Rising number of digitalization of power utilities
• Increasing adoption of district heating systems
• Rapid development of commercial as well as residential applications
• Supportive government rules and regulations relating to energy efficiency along with the rising concerns related to energy conservation
• Huge capital cost of heat meters
Key Developments in the Heat Meter Market:
• In January 2019, Diehl Stiftung & Co. KG(Germany), one of the prominent manufacturer of the heat meter has acquired, New Engineering and Support Center(Hungary), for expanding the regional footprint and to provide a better quality of the products to the global customers
• In August 2018, Schlumberger Limited(US), announced that they have entered into a definitive contract for Shearwater to acquire WesternGeco's geophysical services product line Schlumberger's seismic marine procurement assets and activities
Geographically, Asia-Pacific dominates the heat meter market due to the rise in construction activities and changes in climatic conditions. Rising demand for effective energy management systems along with the growing need for individualized metering across residential buildings is expected to boost the heat meters market growth in this region. Ongoing regulatory mandates toward the development of policies for energy metering along with increasing focus toward energy efficiency and cost saving will accelerate the growth of the market in the North America region.
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