Smart Gas Market By Component (Hardware [Smart Gas Meters, Sensors, Communication Modules], Software [Meter Data Management (MDM) Software, Billing and Customer Management Software], Services [Installation Services, Maintenance Services, Consulting Services]); By Meter Type (Automated Meter Reading (AMR), Advanced Metering Infrastructure (AMI)); By Technology (Cellular, Radio Frequency (RF), Power Line Communication (PLC), Wi-Fi); By End-User (Gas Utilities, Government Agencies, Residential Consumers, Commercial Enterprises, Industrial Facilities); By Geography, Segment revenue estimation, Forecast, 2024-2032.

The smart gas market was worth USD 10.2 billion in 2023 and will be worth USD 20.5 billion by 2030, growing at a CAGR of 10% during the forecast period.

 

The smart gas market is driven by the growing demand for efficient gas distribution and monitoring systems, particularly as global gas consumption is projected to increase by over 30% by 2040. Smart gas meters, which enable real-time monitoring and remote reading, help utilities reduce losses due to leaks and theft, improving operational efficiency by as much as 20%. For example, the implementation of smart meters in Europe has led to significant reductions in gas theft and improved billing accuracy. Recent developments include integrating IoT technology into smart gas meters, allowing for predictive maintenance and enhanced data analytics, helping gas utilities optimize their infrastructure and reduce downtime. Furthermore, governments worldwide are pushing for smart infrastructure projects, including the rollout of smart meters, to improve energy management and ensure environmental sustainability, further driving the market.

 

There is great potential for smart gas market growth in developing countries, where the application of smart gas meters is becoming more and more important due to the requirement for the optimization of energy use and the minimization of expenditures. For instance, India intends to add more than 300 million smart meters of different types, including gas meters, to build a more accurate and honest system of billing, as well as to reduce energy losses. It has also been observed that the Middle Eastern region is foraying into smart gas at a very fast pace as part of smart city development. More recent products include the smart gas meters under the IoT; these meters offer consumption rates in addition to helping to detect leakage points, thus reducing the amount of gas loss to between 5%-15%. The smart gas market receives a greater focus on efficiency in energy and smart grids from emerging markets, and the policies also support the same, leading to an international market for smart gas solutions.

 

Market Segmentation

By Component:

• Hardware

  • Smart Gas Meters

  • Sensors

  • Communication Modules

• Software

  • Meter Data Management (MDM) Software

  • Billing and Customer Management Software

• Services

  • Installation Services

  • Maintenance Services

  • Consulting Services

 

By Meter Type:

• Automated Meter Reading (AMR)

• Advanced Metering Infrastructure (AMI)

 

By Technology

• Cellular

• Radio Frequency (RF)

• Power Line Communication (PLC)

• Wi-Fi

 

By End-User:

• Gas Utilities

• Government Agencies

• Residential Consumers

• Commercial Enterprises

• Industrial Facilities

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

North America has the largest demand for smart gas since it adopted smart metering technologies and progressive policies supporting energy management systems earlier than other regions worldwide. At the top of this list is the United States, where nearly 50% of gas utilities invest in smart meters with the aim of improving the efficiency of their operations as well as minimizing gas losses. For instance, smart gas meters currently installed in the United States have passed one hundred and twenty million, enabling a fluctuating and accurate assessment of consumption by consumers. Recent developments include the integration of complex IoT and data analysis in smart meters to perform predictive maintenance and address issues related to leakage or theft. Furthermore, other governments have played vital roles in promoting smart gas systems and solutions. The Department of Energy in the USA has been instrumental in smart grid systems, hence putting North America at the forefront in providing smart solutions in providing gas systems in the global market.

 

Key Players

• Itron Inc.

• Landis+Gyr

• Siemens AG

• Schneider Electric

• Sensus (Xylem Inc.)

• Honeywell International Inc.

• ABB Ltd.

• Elster Group GmbH (Honeywell)

• Aclara Technologies LLC

• Diehl Metering

• CyanConnode Holdings