Smart Gas Meter Market worth $2.27 Billion by 2021 Smart Gas Meter Market worth $2.27 Billion by 2021

Smart Gas Meter Market worth $2.27 Billion by 2021
The smart gas meter market is expected to reach a size of USD 2.27 billion by 2021, at a CAGR of 7.24% from
2016 to 2021. Factors such as government policies & mandates in developed economies and accurate billing &
improved customer service are driving the market globally. Residential customers are the largest end-users of
smart gas meters, followed by commercial and industrial customers.
The smart gas meter market in this report has been classified based on end-users into three segments, namely,
residential, commercial, and industrial. The residential segment accounted for the largest market size, in terms
of value, in 2015. The global gas pipeline network construction in the residential segment accounted for 1,054
kms (approx.) in the past 5 years with another 100 kms expected to be constructed in next 2-3 years, which
would boost the smart gas meter market.
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The AMR segment would dominate the global smart gas meter market by 2021
The AMR segment is estimated to be the largest market for smart gas meters in 2016. Popular in North America
and Europe, this metering infrastructure is increasingly being implemented in other regions as well; it was
developed initially and is less expensive than AMI, and hence, has the largest market size. However, the AMI
market is projected to grow at the highest rate because of its advanced technology. Moreover, AMI reduces
labor cost, and several gas utilities worldwide are replacing AMR with AMI infrastructure, further creating
growth opportunities for the AMI market.
North America: the dominant market for smart gas meters
North America dominates the smart gas meter market, and Europe is expected to grow at the highest rate during
the forecast period. In North America, the growth of the smart gas meter market could be attributed to factors
such as investments in smart grid and gas pipeline networks. Meanwhile, several smart gas meter rollouts are
taking place in countries such as the U.K., Spain, and France. This, coupled with the EU’s (European Union)
plans regarding carbon emission reductions, would drive growth in the European region.
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Onshore is the largest application-based market segment
The well completion equipment & services market in this report has been classified based on application into
two segments, namely, onshore and offshore. The onshore well completion equipment & services segment is
expected to be higher than the offshore application segment in terms of market share during the forecast period.
This is much evident in the North American region due to the shale gas revolution in the U.S. along with
increase in the production from the Canadian tar sands. Moreover, the cost incurred in oil & gas activities such
as drilling and completion is less in onshore when compared to offshore applications.
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