The global smart gas meter market size was valued at USD 3.24 billion in 2023 and is expected to grow at a CAGR of 6.9% from 2024 to 2030. Efforts to reduce greenhouse gas emissions have emphasized the importance of using natural gas in various applications. Additionally, emerging technologies that enable users to monitor their energy consumption are fueling the growth of the smart gas market. Although this technology is currently new and available only in a few countries, its operational advantages and economic feasibility are expected to facilitate widespread adoption across many countries during the forecast period. Gas pipelines are being installed in many countries to ensure natural gas is available in every home. Gas meters provide several benefits, including accurate readings, eliminating manual involvement, tracking usage data, preventing unaccounted consumption, and assessing monthly tariffs.

Operational advantages such as continuous pipeline monitoring, the elimination of manual monthly readings, real-time data availability, and operational precision drove the adoption of smart gas metering. Additionally, the cost savings and one-time investment in smart meters fueled market growth. Along with the benefits to gas companies, smart gas meters also offer customers advantages such as better control over monthly bills, detailed feedback on energy use, and reduced system failures.

Gather more insights about the market drivers, restrains and growth of the Smart Gas Meter Market

Key Smart Gas Meter Company Insights

Key companies include ABB, Honeywell International, Inc., Itron, Inc., and Landis+Gyr. Companies active in the smart gas meter market are focusing aggressively on expanding their customer base and gaining a competitive edge over their rivals. Hence, they pursue various strategic initiatives, including partnerships, mergers & acquisitions, collaborations, and new product/ technology development. For instance, in January 2024, Italgas S.p.A announced the fulfillment of the rollout of the initial 20,000 units of its new hydrogen-ready gas smart meters. The installation of these first 20,000 Nimbus units marks a significant step in accelerating the energy transition towards green gas. The widespread adoption of these devices across the Italgas user network will significantly boost the use of renewable gases, paving the way for a new frontier in Italy and globally.

Recent Developments

• In February 2024, IGL Genesis Technologies announced to the exchanges that it had signed an agreement with Hangzhou Beta Meter Co., Ltd. The deal involves purchasing smart meter manufacturing technology for USD 2.4 million. IGTL has already begun setting up a production facility in India to manufacture smart gas meters, utilizing technical expertise from Hangzhou Beta Meter Co., Ltd.

• In December 2023, Honeywell International, Inc. announced the European launch of its diaphragm gas meter, capable of operating with 100% hydrogen. This new meter can measure both natural and hydrogen gas, offering versatility throughout Europe. Once deployed, these meters will not need future alternates, even as networks transition to hydrogen, thereby improving operational sustainability and reducing long-term costs.

• In February 2022, Vikas Lifecare Limited announced that its recent acquisition, GenesisGas, secured orders to supply over 30,000 gas meters to Gujarat Gas Limited, an Indian natural gas distribution company. GenesisGas, a leader in smart water and gas metering in India, holds about 20% of the domestic gas metering market share.

Smart Gas Meter Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global smart gas meter market report based on component, technology, type, end-use, and region. 

Component Outlook (Revenue, USD Billion, 2017 - 2030)

• Hardware

• Software

• Services

Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Smart Ultrasonic Gas Meter

• Smart Diaphragm Gas Meter

Technology Outlook (Revenue, USD Billion, 2017 - 2030)

• Advanced Metering Infrastructure (AMI)

• Auto Meter Reading (AMR)

End Use Outlook (Revenue, USD Billion, 2017 - 2030)

• Residential

• Commercial

• Industrial

Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o UK

o Germany

o France

• Asia Pacific

o China

o India

o Japan

o Australia

o South Korea

• Latin America

o Brazil

• MEA

o UAE

o South Africa

o KSA

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