Gas Meters Market
REPORT DESCRIPTION
Gas Meters Market - Global Industry Analysis , Size , Share , Growth Trends and Forecast 2016 - 2024
Most of the companies in the global market for gas meters operate at regional level . Led by Elster Group GmbH , Itron Inc ., and Dandong Dongfa Co . Ltd ., this market demonstrates a highly competitive nature , states a new study by Transparency Market Research ( TMR ). In 2015 , these three companies collectively accounted for 33.4 % of the overall market .
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These gas meters manufacturers are striving to improve in regional and the global markets and are aggressively focusing on product innovation . Analysts at TMR expect the degree of competition within this market to remain high over the next few years .
According to the research report , the global market for gas meters presented an opportunity worth US $ 2.3 bn in 2015 . Increasing at a CAGR of 8.10 % during the period from 2016 to 2024 , the market is likely to reach a value of US $ 4.7 bn by the end of the forecast period . The demand for diaphragm gas meters is higher than other products and is expected to remain so over the years to come , states the market study .
Increasing Industrialization to Boost Asia Pacific Gas Meters Market
The report also presents a regional analysis of the worldwide market for gas meters . As per the report , Latin America , North America , Europe , Asia Pacific , and the Middle East and Africa are the prime regional markets for gas meters across the world . Among these , Asia Pacific has acquired the leading position in the overall market and is expected to remain dominant throughout the forecast period , thanks to the increasing industrialization in this region . China , Japan , Australia , India , and the ASEAN countries have surfaced as the leading domestic markets for gas meters in Asia Pacific . The rising consumption of natural gas in Asia Pacific is projected to propel this regional market substantially in the years to come .
Europe is also expected to witness healthy growth in the demand for gas meters over the next few years on account of the rising enforcement of stringent regulations regarding the usage of smart meters and the increasing uptake of natural
Transparency Market Research
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