Electric Sub-meter Market: Global Demand Analysis & Opportunity Outlook 2027
The global electric sub-meter market can be segmented on the basis of type, application and region. On the basis of type, it is sub-segmented into socket type/electromechanical sub-meter, smart sub-meter and non-socket/electronic sub-meter. Further, socket type/electromechanical sub-meter is again segmented into current transformer and feed-through sub-meter. On the basis of application, it is sub-segmented into commercial establishments, residential sector and industrial sector. The commercial establishments is further sub-segmented into large retail stores, data centers, others. The commercial establishment sub-segment is expected to be the leading sub-segment during the forecast period. The increasing number of the building coupled with the expansion of the retail industry is anticipated to be the major reason fostering the growth of the sub-segment.
The global electric sub-meter market is anticipated to expand at a CAGR around 12% during 2018-2027. It is anticipated to reach around USD 4 billion. The growing awareness regarding the preservation of energy coupled with rising demand for monitoring of the electric energy is expected to boost the market growth of the electric sub-meter market across the globe.
By region, global electric sub-meter market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to lead the global electric sub-meter market during the forecast period. The growing need for energy management across the region is anticipated to drive the growth of electric sub-meter market in the region.
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Asia-Pacific region is anticipated to be the fastest developing region for the global electric sub-meter market. The increasing industrialization in the region is anticipated to support the growth of the electric sub-meter during the forecast period.
Increasing expansion of the industrial and commercial sector across the globe is anticipated to boost the growth of the global electric sub-meter market
The various industries are increasing the focus on the energy management. This is anticipated to boost the growth of the global electric sub-meter market. For instance, according to Edison electrical institute the total non-utility generation of the electrical energy increased from the 537,615 MW in 2016 to 545,533 MW in 2017.
The report titled “Electric Sub-meter Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global electric sub-meter market in terms of market segmentation by type by application and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global electric sub-meter market which includes company profiling of key companies such as Siemens AG, Honeywell International, Leviton, Elster Group, Studebaker Submetering Inc., Nuri Telecom, Linyang, Electronics, Schneider Electric, GE Digital Energy, Kamstrup and Echelon. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global electric sub-meter market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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