Heat Meters Market to surpass USD 8.5 million units by 2024: Global Market Insights Inc. Global Heat Meters Market was valued over USD 760 million in 2017 and will exceed USD 1 billion by 2024, as reported in the latest study by Global Market Insights, Inc. Accelerating investments toward the development of sustainable heating technologies along with ongoing expansion of residential and commercial establishments will foster the heat meter market demand. Favorable regulatory policies pertaining to energy efficiency along with rising concern toward carbon emissions will further stimulate the industry growth. For instance, the government of Canada signed the Copenhagen Accord in 2009 and the Paris Agreement under its climate action plan to reduce GHG emissions by 17% by 2020 below 2005 levels. Germany heat meter market is set to exceed installation of 1 million units by 2024. Increasing demand for district heating technology on account of changing climatic conditions across the nation will positively influence the product demand. Favorable regulatory policies pertaining to the adoption of sustainable energy devices coupled with increasing investments toward the development of commercial sector will propel the industry growth.
Upsurge in demand for effective energy management systems along with rising need for individualized metering across multistory buildings will foster the heat meter market growth. Billing accuracy, cost saving, energy consumption monitoring and various communication options are some of the key features which make its adoption preferable. In addition, the growing need for reliable and accurate metering systems coupled with deployment of IoT platform will further boost the industry growth.
Commercial heat meter market will grow on account of development of combined heating and cooling technologies along with growing adoption of sustainable building codes and standards. In addition, flourishing service sector coupled with upsurge in investments toward the development of residential establishments will positively impact the product penetration. Ongoing expansion of innovative energy efficiency
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