Global Smart Gas Market: Growing Demand for Energy Keeps Leading Play Nov 2016 | Page 2

Smart Gas Market

REPORT DESCRIPTION

Smart Gas Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 2023
The global smart gas market was valued at US$0.9 bn in 2014 and is projected to reach US$10.5 bn by
2023 at a CAGR of 32.2% from 2015 to 2023.
In-depth research report on Smart Gas Market with Full TOC at :
http://www.transparencymarketresearch.com/smart-gas-market.html
Smart gas meters comprise various components such as advanced communication modules, gas warning
devices, flow control devices, data logging and measurement, data monitoring, and software. Services
provided by a smart gas meter depend on the engineering and quality of the components used while
manufacturing. Smart gas meters increase energy efficiency by 5%−15% − one of the major benefits they
provide.
Rising demand for energy security and emphasis on preventing losses due to gas theft are driving the
smart gas market. Increasing acceptance of gas as a utility is also responsible for the growth of smart gas
market globally. Currently, growth potential of smart gas meter is likely to shift from North America to
Europe followed by Asia Pacific, Central America, and the Middle East.
The smart gas market has been segmented into five regions: North America, Europe, Asia Pacific, Middle
East and Africa, and South and Central America. In 2014 North America held the largest share of 64% of
the global smart gas market.
Regulatory mandates to reduce carbon footprints in Europe is a major driver for the growth of smart gas
market in the region. Asia Pacific held the third-largest share in the smart gas market in 2014. In 2014,
Middle and Africa showed slow growth, but it anticipated that environmental regulatory norms will drive
growth of smart gas market in these regions. The smart gas market in South and Central America is
witnessing slow growth. However, The Government of Brazil plans to rollout smart gas meters in the next
few years to prevent energy theft. It is expected that other economies in South and Central America would
follow suit. In Europe, France, the U.K, and Italy are anticipated to emerge as potential markets for smart
gas.
Demand for smart gas meters is expected to increase gradually future as they offer energy saving which
contributes to increase in revenue. The smart gas market has been segmented as follows:
Smart Gas Market: By Device Type

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Traditional Metering System
Gas Warning Device

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