India Gas & Water Meters Market By Product Type (Smart Gas Meter, Smart Water Meter, Normal Gas Meter, Normal Water Meter), By Component (Software, and Hardware), By Application (Residential, Commercial, Industrial), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

With improving awareness levels, an increasing number of individuals are now in the process of installing normal as well as smart water & gas meters, due to adequate levels of convenience. This is anticipated to result in a greater acceptance of smart water & gas meters in this region

Market.US announces publication of its most recently generated research report titled, “India Gas & Water Meters Market by Product Type (Smart Gas Meter, Smart Water Meter, Normal Gas Meter, and Normal Water Meter), By Component (Software, and Hardware), and by Application (Residential, Commercial, and Industrial) – India Forecast to 2030”, which offers a holistic view of the India gas & water meters market through systematic segmentation that covers every aspect of the target market.

The India gas & water meters market is projected to be US$ 1,022.7 Mn in 2020 to reach US$ 2,352.7 Mn by 2030 at a CAGR of 8.9%.

A water meter is a device that accurately measures the volume of water that passes through a pipeline system. Typically, water meters are installed to measure the volume of water distributed to a consumer for residential, commercial, or industrial purposes in an urban water supply system. Moreover, water meters are conventionally installed at water sources meant to determine flow through a specific segment of a supply system.

Water meters measure flow in cubic meters (m3). These meters consist of four major components – sensors to detect the flow of water, transducers to transmit the flow signal, a counter to keep track of the total volume of water passing through a given meter, and an indicator to display the meter reading.

Similar to water meters, gas meters are specialized flow meters that are used to measure volume of gaseous states, such as natural gas and liquefied petroleum gas. It is necessary to register the volume of gas consumed to an acceptable degree of accuracy. Any significant error may represent a loss to the gas supplier or result in the consumer being overbilled.

India Gas & Water Meters Market Revenue (US$ Mn), 2020–2030

Privately-run utility providers, various governments, and OEMs are increasingly focused on exploring the notion of smart meter applications, or Advanced Metering Infrastructure (AMI), to water & gas systems. AMI can deliver essential benefits such as eliminating leaks and inefficiencies, lowering operational costs, and improving exisiting water conservation standards.

Additionally, cellular Wireless Wide-Area Network (WWAN) technology can play a vital role in providing specific business and technical advantages over conventional radio communication networks.

Booming population figures and rapid urbanization levels, in conjunction with positive individual disposable income trajectories, are some of the other factors that are expected to impact the future demand for water and gas.

Globalization and the increasing demand from various sectors such as, manufacturing, healthcare & pharmaceuticals, hotel & hospitality, chemicals, construction, etc., for water and gas are also anticipated to create additional opportunities for market growth.

The COVID-19 pandemic has resulted in the slowdown of critical trade activities across several countries. The possibility of a pending economic recession is also likely to adversely impact future investments in this sector. The onset of this given pandemic has also affected the respective supply chains of companies across the world.

As major economies experienced precautionary manufacturing lockdowns, a considerable gap between market supply and demand was created, making it difficult for manufacturers and distributors to manage their supply operations. This is a primary factor that is expected to negatively influence future revenue growth prospects for the smart gas & water meter market in India. However, as enforced lockdowns are gradually lifted, and economies begin to re-open, this market is expected to recover.

India Gas & Water Meters Market Attractiveness Analysis by Product Type, 2014–2030

Industry segmentation of India’s Gas & Water Meters market is divided under – product type, component, and application. On the basis of product type, this market is segmented into smart gas meters, smart water meters, normal gas meters, and normal water meters.

With respect to components, the market is segmented into hardware and software. With respect to application, this sector is segmented into residential, commercial, and industrial.

Among the product type segments, the smart gas meter segment is expected to register the highest CAGR over the forecast period. Among the component, hardware holds a significant revenue share, followed by software. Further, among the application, residential has a considerable revenue share, followed by industrial.

The research report on the India gas & water meters market includes profiles of some of the major companies such as Lakshmi Electrical Control Systems Limited (LECS), SNS Technosys LLP., JnJ Powercom Systems Ltd., Honeywell International Inc., Kirti Trade Impex Pvt Ltd., Secure Meters Ltd., Xylem Water Solutions India Pvt Ltd, Wegot Utility Solutions Private Limited., Moschip Technologies Ltd. (Maven Systems Pvt. Ltd.), McWane Inc., Peltek India, EXOZEN, Itron, Inc., Genesis Gas Solutions, Inel Gas Controls Pvt Ltd, Process Control Devices, Raychem RPG, and others.

Segmentation for India Gas & Water Meters Market, based on Product Type, Component, and Application:

Based on Product Type:

• Smart Gas Meter
• Smart Water Meter
• Normal Gas Meter
• Normal Water Meter

Based on Component:

• Hardware
• Software

Based on Application:

• Residential
• Commercial
• Industrial

Based on Key Players:

• Lakshmi Electrical Control Systems Limited (LECS)
• SNS Technosys LLP.
• JnJ Powercom Systems Ltd.
• Honeywell International Inc.
• Kirti Trade Impex Pvt Ltd.
• Secure Meters Ltd.
• Xylem Water Solutions India Pvt Ltd
• Wegot Utility Solutions Private Limited.
• Moschip Technologies Ltd. (Maven Systems Pvt. Ltd.)
• McWane Inc.
• Peltek India
• EXOZEN
• Itron Inc.
• Genesis Gas Solutions
• Inel Gas Controls Pvt Ltd
• Process Control Devices
• Raychem RPG
• others

For the India Gas & Water Meters Market research study, the following years have been considered to estimate the market size: