Demand for electric sub-Meter in Japan is expected to be USD 12.9 million in 2024. The demand in 2023 was marked at USD 12.2 million. The sale of electric sub-Meter is projected to continue at a promising pace from 2024 to 2034, with a CAGR of 6.2%. By 2034, the sale of electric sub-Meter in Japan is forecasted to reach USD 23.5 million.
Key Insights for Electric Sub-Meter in Japan
| Attributes | Details |
|---|---|
| Industry Size for Japan in 2024 | USD 12.9 million |
| Expected Industry Size for Japan in 2034 | USD 23.5 million |
| Forecasted CAGR between 2024 to 2034 | 6.2% |
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Smart electric sub-Meter has taken the lead in Japan during the historical period. For 2024, smart sub-Meters are expected to account for 57.9% of the industry share by product.
Technology is permeating all walks of life for people in Japan. Thus, they are not averse to the development of smart devices. Japan’s industrial and consumer sectors are discarding traditional sub-Meters in favor of smart ones due to the benefits provided, such as web-based machine reading and better monitoring.
| Demand for Electric Sub-Meter in Japan Based on Product | Smart Sub-Meter |
|---|---|
| Industry Share in 2024 | 57.9% |
Single-phase sub-Meters dominate the industry in Japan as of 2023. For 2024, single-phase sub-Meters are expected to contribute to an overwhelming 81.7% of the industry share.
Single-phase electric sub-Meter is generally preferred for domestic use. They provide a straightforward way of dealing with electric sub-Meter, requiring fewer wires and often incurring comparatively lower installation costs. Thus, single-phase electric sub-Meter is the norm in Japan.
| Demand for Electric Sub-Meter in Japan Based on Phase | Single Phase |
|---|---|
| Industry Share in 2024 | 81.7% |
Electric sub-Meter manufacturers are focused on introducing technology that further reduces the burden on consumers. Electric sub-Meter for green energy is also common in Japan, and thus, collaborations are sought with green energy companies.
Government initiatives in Japan have aimed to clamp down on electricity wastage. Electric sub-Meter is one way through which this objective is being achieved. Thus, industry players are thriving due to the encouragement from the public sector.
Recent Developments Observed in Electric Sub-Meter in Japan
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2024 | USD 12.9 million |
| Projected Industry Size by 2034 | USD 23.5 million |
| Anticipated CAGR between 2024 to 2034 | 6.2% CAGR |
| Historical Analysis of Demand for Electric Sub-Meter in Japan | 2019 to 2023 |
| Demand Forecast for Electric Sub-Meter in Japan | 2024 to 2034 |
| Report Coverage | Industry Size, Industry Trends, Key Insights for Electric Sub-Meter in Japan, Insights on Global Players and Leading Industry Strategy in Japan, Ecosystem Analysis of Local and Regional Japan Providers |
| Key Companies Profiled | Tokyo Electric Power Company Holdings, Inc.; Chubu Electric Power Company, Inc.; Kansai Electric Power Company, Inc.; Hokkaido Electric Power Company, Inc.; Tohoku Electric Power Company, Inc.; Kyushu Electric Power Company, Inc.; Electric Power Development Co., Ltd.; JERA Co., Inc.; Osaka Gas Co., Ltd.; Tokyo Gas Co., Ltd.; Shimadzu Corporation; Hioki & Co., Ltd.; Yokogawa Electric Corporation; Megger Group Limited; Fluke Corporation; Eaton Corporation; Siemens AG; ABB Ltd; Schneider Electric SE; Honeywell International Inc.; RTM subMeters; Hioki 3190-02; Yokogawa PX3; Megger DET 14C; Fluke 337C; Eaton PM8000; Siemens S700; ABB EM6400; Schneider Electric PowerPact P4; Honeywell Power Xpert 300 |
| Key Cities Profiled | Kanto, Chubu, Kinki, Kyushu & Okinawa, Tohoku, Rest of Japan |
The industry size of electric sub-Meter in Japan is estimated to be USD 12.9 million in 2024.
Electric Sub-Meter industry is expected to develop at a modest CAGR of 6.2% from 2024 to 2034 in Japan.
The industry size for electric sub-Meter is forecasted to reach USD 23.5 million in Japan by 2034.
Smart electric sub-Meter is the most common product type in Japan, with an expected industry share of 57.9% in 2024.
Increasing electricity consumption and technological advancements are some of the growth factors driving demand for electric sub-Meter in Japan.
| Estimated Market Size (2024E) | USD 15,730.9 million |
|---|---|
| Projected Market Value (2034F) | USD 29,911.6 million |
| Value-based CAGR (2024 to 2034) | 6.7% |
| Market Value (2022) | USD 20,983.3 Million |
|---|---|
| Market Anticipated Value (2032) | USD 54,254.7 Million |
| Projected CAGR (2022 to 2032) | 10.0% |
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Electric Sub-Meter Industry Analysis in Japan
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