Sales of electric sub-meter in Korea are poised to surge at a 5.5% CAGR through 2034. The overall demand for electric sub-meter in Korea is set to rise, crossing a valuation of US$ 17.4 million in 2024. By 2034, sales projections for electric sub-meter in Korea indicate achieving a valuation of US$ 29.7 million.
Key Trends to Bolster Revenues through 2034:
| Attributes | Details |
|---|---|
| Industry Size in Korea in 2024 | US$ 17.4 million |
| Expected Industry Size of Korea by 2034 | US$ 29.7 million |
| Forecasted CAGR between 2024 to 2034 | 5.5% |
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| Leading Product Type for Electric Sub-Meter in Korea | Smart Sub-Meter |
|---|---|
| Total Value Share (2024) | 56.8% |
Integrating smart sub-meters with smart grid infrastructure is a crucial driver in Korea. Smart grids provide bidirectional communication among consumers and utility corporations. This allows for more efficient energy distribution, fewer losses, and enhanced overall grid management. Smart sub-meters can be remotely operated and monitored, decreasing the need for physical trips to gather Meter readings. This increases operating efficiency for energy providers and reduces interruptions for customers.
The growth of smart houses and connected devices has produced synergies with smart sub-meter. Integration with smart home technology enables customers to monitor and regulate energy use via centralized platforms, enhancing the overall smart home experience.
| Leading Phase for Electric Sub-Meter in Korea | Single |
|---|---|
| Total Value Share (2024) | 80.3% |
Single-phase electric sub-meter tends to be suitable for household applications. Because residential households account for a large portion of energy consumers in Korea, there is a high demand for sub-meters adapted to individual residences' needs. Korea's growing urbanization and continuous housing projects have increased the demand for single-phase electric sub-meters. These meters are typically found in flats, condos, and single-family homes. Single-phase electric sub-meters is often less expensive than their three-phase counterparts. Given the ubiquity of single-phase applications in residential settings, cost-effectiveness becomes an important consideration, particularly when deploying a large number of Meters.
Principal Consultant
The competitive landscape of the electric sub-meter industry in Korea is defined by a dynamic mix of prominent industry players striving for dominance and strategic positioning. As the need for advanced metering solutions grows, various firms are engaged in a heated rivalry to provide creative and technologically complex sub-meter adapted to the specific demands of the Korean marketplace. The industry is influenced by a combination of established global firms and agile local players, all attempting to capitalize on their strengths in technology, distribution networks, and client connections.
Recent Developments
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2024 | US$ 17.4 million |
| Projected Industry Size by 2034 | US$ 29.7 million |
| Anticipated CAGR between 2024 to 2034 | 5.5% CAGR |
| Historical Analysis of Demand for Electric Sub-Meter in Korea | 2019 to 2023 |
| Demand Forecast for Electric Sub-Meter in Korea | 2024 to 2034 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Electric Sub-Meter Adoption in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korean Manufacturers |
| Key Cities Analyzed While Studying Opportunities in Electric Sub-Meter in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Itron Inc.; Landis+Gyr Group AG; Siemens AG; Schneider Electric SE; Honeywell International Inc.; Elster Group (now part of Honeywell); Kamstrup A/S; Iskraemeco (part of the AEM Group); ABB Ltd.; Holley Technology Ltd. |
The expected CAGR until 2034 stands at 5.5%.
The demand for electric sub-Meter in Korea is projected to reach US$ 29.7 million by 2034.
Technology integration and innovation trends influence electric sub-Meter in Korea.
Electric sub-Meter businesses emphasize sustainability initiatives to reduce carbon footprints.
Smart electric sub-Meter is highly preferred in Korea.
1. Executive Summary 1.1. Korea Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Unit) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Product, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Product, 2024 to 2034 5.3.1. Socket Type/Electromechanical Sub-Meters 5.3.1.1. Feed-through Sub-Meters 5.3.1.2. Current Transformers 5.3.2. Non-socket /Electronic Sub-Meters 5.3.3. Smart Sub-Meters 5.4. Y-o-Y Growth Trend Analysis By Product, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Product, 2024 to 2034 6. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Phase 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Phase, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Phase, 2024 to 2034 6.3.1. Single Phase 6.3.2. Three Phase 6.4. Y-o-Y Growth Trend Analysis By Phase, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Phase, 2024 to 2034 7. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Application 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Application, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Application, 2024 to 2034 7.3.1. Commercial Establishments 7.3.1.1. Large Retail Stores 7.3.1.2. Data Centers 7.3.1.3. Others 7.3.2. Residential Sector 7.3.3. Industrial Sector 7.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034 8. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Region, 2019 to 2023 8.3. Current Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Region, 2024 to 2034 8.3.1. South Gyeongsang 8.3.2. North Jeolla 8.3.3. South Jeolla 8.3.4. Jeju 8.3.5. Rest of Korea 8.4. Market Attractiveness Analysis By Region 9. South Gyeongsang Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 9.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Product 9.2.2. By Phase 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Product 9.3.2. By Phase 9.3.3. By Application 9.4. Key Takeaways 10. North Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 10.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Product 10.2.2. By Phase 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Product 10.3.2. By Phase 10.3.3. By Application 10.4. Key Takeaways 11. South Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 11.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Product 11.2.2. By Phase 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Product 11.3.2. By Phase 11.3.3. By Application 11.4. Key Takeaways 12. Jeju Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 12.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Product 12.2.2. By Phase 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Product 12.3.2. By Phase 12.3.3. By Application 12.4. Key Takeaways 13. Rest of Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 13.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Product 13.2.2. By Phase 13.2.3. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Product 13.3.2. By Phase 13.3.3. By Application 13.4. Key Takeaways 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Product 14.3.3. By Phase 14.3.4. By Application 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Sensway 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.1.5.2. Product Strategy 15.1.1.5.3. Channel Strategy 15.1.2. Is Technologies Co., Ltd. 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.2.5.2. Product Strategy 15.1.2.5.3. Channel Strategy 15.1.3. Itron Inc. 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.3.5.2. Product Strategy 15.1.3.5.3. Channel Strategy 15.1.4. Schneider Electric 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.4.5.2. Product Strategy 15.1.4.5.3. Channel Strategy 15.1.5. General Electric 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.5.5.2. Product Strategy 15.1.5.5.3. Channel Strategy 15.1.6. Siemens AG 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.6.5.2. Product Strategy 15.1.6.5.3. Channel Strategy 15.1.7. Mitsubishi Electric Corporation 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.7.5.2. Product Strategy 15.1.7.5.3. Channel Strategy 15.1.8. Osaki Electric Co. Ltd 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.8.5.2. Product Strategy 15.1.8.5.3. Channel Strategy 15.1.9. Xylem Inc. 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.9.5.2. Product Strategy 15.1.9.5.3. Channel Strategy 15.1.10. Bentec Electricals & Electronics Pvt. Ltd. 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 15.1.10.5.2. Product Strategy 15.1.10.5.3. Channel Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
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Electric Sub-Meter Industry Analysis in Korea
