Smart gas meter is a device that utilizes two-way communication between distributors, energy suppliers, energy consumers, and energy meters to provide first-hand information on gas usage. Smart gas meters primarily consist of communication modules, gas warning devices, flow control devices, data logging and measurement, data monitoring, and software.
International environmental mandates to reduce carbon footprints and greenhouse gas emissions are driving the adoption of smart gas meters across the globe. The underlying objective of energy security is being achieved through the adoption of smart gas meters in the residential, commercial, and industrial segments in various regions.
The smart gas market has been segmented on the basis of technology, end-user, and region. In terms of technology, meter data management systems held about 60% share of the smart gas market in 2014. Global estimates for 2014 show that residential consumers accounted for nearly 75% and commercial and industrial consumers accounted for the rest 25% of the market. This disparity is due to supportive incentive schemes offered for the installation of smart gas meters in residential buildings.
Rising demand for energy security and emphasis on reducing losses due to gas theft is boosting the smart gas market. Increasing acceptance of gas as a utility is also responsible for the growth of smart gas market globally. During the forecasted period of 2015-2023, growth potential of smart gas meters 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. North America held largest smart gas market share of 64% in the year 2014.
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Regulatory mandates to reduce carbon footprint in Europe is the major driver for the growth of smart gas market in the region. Asia Pacific ranked third in terms of smart gas market growth in year 2014. In 2014, Middle and Africa showed slow growth, but it anticipated that environmental regulatory norms will boost the smart gas market growth in these regions. The smart gas market in South and Central America is currently witnessing slow growth. However, the Government of Brazil plans to rollout smart gas meters to prevent energy theft in the near future. It is expected that other economies in the region would follow suit. In Europe, France, the U.K., and Italy are anticipated to emerge as potential markets for smart gas during the forecast period.
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