Global Power Metering Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Power Metering Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By End User (Residential, Commercial, and Industrial), Technology (Analog Meters, Digital Meters, and Smart Meters), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Power Metering Market was valued at USD 23,554.7 million in 2023 and is expected to reach USD 60,436.3 million by 2031 while growing at a CAGR of 12.5% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global power metering market growth. Power metering involves measuring and monitoring electrical power consumption in residential, commercial, and industrial settings. The goal is accurate measurement for billing, energy management, and efficiency improvements.
Increasing global demand for energy due to population growth, urbanization, and industrialization, along with the integration of renewable energy sources, propels the growth of the power metering market. However, challenges like high initial costs and lack of standardization may impede market expansion.
Furthermore, the global power metering industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By End User Analysis
The Global Power Metering Market is segmented among Residential, Commercial, and Industrial, based on End User. In 2023, Residential accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Technology Analysis
The Global Power Metering Market is segmented among Analog Meters, Digital Meters, and Smart Meters, based on Technology. In 2023, Smart Meters accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Power Metering Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are ABB Ltd, Eaton Corporation PLC, General Electric Company, Kamstrup AS, Toshiba Corporation, Schneider Electric SE, Aclara Technologies LLC, and Siemens AG.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Power Metering Market Dynamics
Drivers
Restraints
Opportunity
4. Global Power Metering Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Power Metering Market Segmentation, By End User
Global Power Metering Market Share Analysis, By End User
Global Power Metering Market Growth Analysis, By End User
Global Power Metering Market Trends, By End User
o Residential
o Commercial
o Industrial
6. Global Power Metering Market Segmentation, By Technology
Global Power Metering Market Share Analysis, By Technology
Global Power Metering Market Growth Analysis, By Technology
Global Power Metering Market Trends, By Technology
o Analog Meters
o Digital Meters
o Smart Meters
7. Global Power Metering Market Segmentation, By Region
Global Power Metering Market Share Analysis, By Region
Global Power Metering Market Growth Analysis, By Region
Global Power Metering Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
8. Competitive Landscape
ABB Ltd.*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Eaton Corporation PLC
General Electric Company
Kamstrup AS
Toshiba Corporation
Schneider Electric SE
Aclara Technologies LLC
Siemens AG
*Similar analysis will be provided for each company listed above.