About Electric Sub-meter
Submeters are electrical devices and related data acquisition and communication devices that measure and track the energy efficiency of buildings. They are connected downstream of the electricity meter and provide information about the energy consumption of one or more electrical loads. Such devices are designed for no more than 1,000 volts alternating current and 1,500 volts direct current. Submeters provide building managers and owners with the information they need to optimize energy efficiency or distribute electricity bills fairly to the residents of the building. Submeters can also identify wasteful consumption and faulty devices. The electricity meter helps to capture and measure electricity consumption for each component of the construction, rather than having a single electricity meter that measures the total energy consumption in the construction. By installing the electrical submeters in the rooms with several tenants, there are no additional operating costs that benefit the client economically.
Attributes | Details |
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Study Period | 2019-2029 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European Manufacturers will contribute the maximum growth to Global Electric Sub-meter market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Itron Inc. (United States), Landis+Gyr (Switzerland), Xylem Inc. (United States), Schneider Electric (France), General Electric (United States), Siemens AG (Germany), Mitsubishi Electric (Japan), Honeywell International Inc. (United States), HPL Electric & Power Limited (India), ABB (Switzerland), Bentec Electricals & Electronics Pvt. Ltd. (India) and Kamstrup A/S (Denmark) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Hexing Electric Co. Ltd. (China), Leviton Manufacturing Co. Inc. (United States) and Osaki Electric Co., Ltd. (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Electric Sub-meter market by Type (Smart Sub-meter, Electronic Sub-Meter and Electromechanical Sub-Meter [Feed-through Sub-meters, Current Transformers]), Application (Residential, Commercial and Industrial) and Region.
On the basis of geography, the market of Electric Sub-meter has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Phase, the sub-segment i.e. Single Phase will boost the Electric Sub-meter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Increasing Requirement for the Regularity and Compliance of the Electricity Management and Growing Demand for Energy Efficiency, Monitoring Energy Leakages, And Energy Outages
Market Growth Drivers:
Increasing Demand for Smart Electric Sub-Meters over Conventional Ones, Rising Smart Grid Installation Projects and An Increased Importance for Monitoring, Reducing, Controlling, and Managing the Proper Usage of the Electricity
Challenges:
Lack of Infrastructure Development in the Under Developed Regions
Restraints:
Competitive Pricing Due To High Fragmentation of Market
Opportunities:
Government Initiatives Have Led To the Deployment of Smart Electric Sub-Meters over Conventional Electric Sub-Meters and Investments in Research & Development to Produce Highly Efficient and Low-Cost Electricity Sub-Meters
Market Leaders and their expansionary development strategies
In November 2020 Kamstrup signed a partnership with Göteborg Energi for a turnkey smart metering solution. The partnership helped replace 275,000 electricity meters with new smart meters with the latest technology in Sweden. In addition, in the same year, Kamstrup announced a strategic partnership with Avance Metering to enable an easy transition from the old to the new intelligent metering generation.
In September 2020, Schneider Electric launched smart devices that enable power distribution companies in Nigeria to troubleshoot grid faults and restore power after an interruption in less than a minute.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers of Electric Sub-meter, Suppliers and Distributors of Electric Sub-meter, Venture Capitalists and Private Equity Firms and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.