Electric Sub-Meter Industry Analysis in Japan

An In-depth Analysis of Electric Sub-Meter in Japan from (2024 to 2034)

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

• After a dip in the 2010s decade, electric consumption is on the rise again in Japan. The increasing amount of electricity being consumed necessitates the use of electric sub-Meter to track consumption.
• The progress of Japan’s economy has led to growth in the construction of both residential and commercial buildings. The rising number of buildings requires the installation of more electric sub-Meter.
• Electric sub-Meter is becoming more advanced in line with technological innovations in other electric devices. Capabilities like Wi-Fi connection and compatibility with devices such as Alexa are making electric sub-Meter more sophisticated.

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%

Key Trends Shaping the Demand for Electric Sub-Meter in Japan

• People and organizations in Japan are aware of the importance of energy conservation. Thus, electric sub-Meter are being sought in Japan to keep tabs on electricity consumption.
• As individuals get busier in Japan, time-saving solutions are sought in the country. Advancements like wireless electric sub-Meter are thus becoming popular in the country, cutting the time and energy required for installation.
• For commercial buildings, electric sub-Meter play a key role in cost reduction. Electric sub-Meter are helping commercial spaces all around Japan to regulate electricity consumption and make savings in overheads.
• While technologically advanced electric sub-Meter provide a number of benefits, there are also concerns associated. Data security and the bridging of firewalls to steal sensitive information are two concerns in Japan regarding technologically advanced electric sub-Meter. Thus, industry players are having trouble selling top-of-the-line electric sub-Meter in Japan.
• The eco-friendly nature of Japan people is helping green energy to penetrate further into the country. The government of Japan has lofty aims regarding the ideal percentage of devices powered by green energy in the coming years. Electric sub-Meter are helping green-energy-powered electricity proliferate further.

Category-wise Insights

Technologically-advanced People in Japan Rapidly Turning to Electric Sub-Meter

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%

End Users in Japan Still Prefer Single Phase Sub-Meters

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%

Competitive Landscape

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

• In October 2023, Japan eased restrictions on use of electricity data in the corporate sector. Thus, data collected by smart Meters can now be used by companies in the country.
• In September 2023, local player Chubu Electric Power announced it has bought a stake in NuScale Power, previously held by Japan Bank for International Cooperation. The American company specializes in nuclear power.

Some of the Key Players Offering Electric Sub-Meter in Japan

• 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 3000

Scope of the Report

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

Key Segments

By Product:

• Socket Type/Electromechanical Sub-Meters
  • Feed-through Sub-Meters
  • Current Transformers
• Non-socket /Electronic Sub-Meters
• Smart Sub-Meters

By Phase:

• Single Phase
• Three Phase

By Application:

• Commercial Establishments
  • Large Retail Stores
  • Data Centers
  • Others
• Residential Sector
• Industrial Sector

By City:

• Kanto
• Chubu
• Kinki
• Kyushu & Okinawa
• Tohoku
• Rest of Japan

Frequently Asked Questions

What is the Industry Size of Electric Sub-Meter in Japan?

The industry size of electric sub-Meter in Japan is estimated to be USD 12.9 million in 2024.

At What Rate is Electric Sub-Meter Industry Growing in Japan?

Electric Sub-Meter industry is expected to develop at a modest CAGR of 6.2% from 2024 to 2034 in Japan.

What Will the Industry Size of Electric Sub-Meter in Japan be by 2034?

The industry size for electric sub-Meter is forecasted to reach USD 23.5 million in Japan by 2034.

What is the Most Common Product Type of Electric Sub-Meter in Japan?

Smart electric sub-Meter is the most common product type in Japan, with an expected industry share of 57.9% in 2024.

What are the Growth Factors of Electric Sub-Meter in Japan?

Increasing electricity consumption and technological advancements are some of the growth factors driving demand for electric sub-Meter in Japan.