New York City, New York, July 14, 2021 (GLOBE NEWSWIRE) – Facts and Factors released a new research report titled “By Type (Electromechanical Meters and Electronic Meters), By Price (Low and Medium Energy Meters) Market and high), by application (residential, commercial and industrial), by distribution channel (online and offline): global and regional industry perspectives, comprehensive analysis and forecasts, 2021-2026″.
“According to a recent research report, the global electric energy meter market size and share demand is expected to reach USD 13.12 billion from USD 9.21 billion in 2020 to USD 13.12 billion in 2026, with a compound annual growth rate (CAGR) of 20.5% during the forecast period from 2021 to 2026. year”
The electric energy meter is a meter that measures how much electric energy the electric load consumes. Energy refers to the total amount of electricity used and consumed by the load in a given period of time. It is used to monitor the power consumption of residential and commercial AC circuits. The meter is cheaper and more accurate.
As the electric energy meter market has reached saturation, it is expected that the market will grow slowly throughout the forecast period. Utilities around the world have invested heavily in this area to increase distribution and collection, while controlling energy usage. This is expected to become one of the key drivers of the prepaid meter market during the forecast period.
Electricity theft and unpaid bills are causing losses to countries around the world, and countries are looking for measures to reduce these losses. To reduce losses, India plans to install electricity meters in its rural and semi-urban networks by 2022. These government efforts will contribute to the development of the market during the forecast period. Consumers like to have more control over their expenditures and want worry-free services in terms of electricity, so this will be the main development factor for the electricity meter market during the forecast period.
Developing countries with extensive infrastructure expansion are also a growth factor in urbanization and industrial development, and many projects under construction use the electricity meter market as the default power connection.
The electric energy meter market is divided into two categories according to the types of electric energy meters: electromechanical meters and electronic meters. The electric energy meter market is divided into three categories according to price: low, medium and high. The electric energy meter market is divided into three parts according to its application: residential, commercial and industrial. The electric energy meter market is divided into two categories: online and offline according to distribution channels.
As it constitutes a developing country in the Asia-Pacific region, it is considered to be one of the most promising markets for electricity meters.
Post time: Aug-03-2021