The adoption of electric sub-meter in Western Europe is estimated to display a moderate CAGR of 5.6% through 2034. Sales of electric sub-meter in Western Europe are expected to jump from USD 3,722.00 million in 2024 to USD 6,097.39 million by 2034.
The scope of electric sub-meter is quite extensive in Western Europe. The high acceptance of these meters stems from an increasing emphasis on sustainability and energy efficiency. Therefore, players are providing a range of electric sub-metering systems that can be used in commercial, residential, or industrial settings. Going a step ahead, top players are also offering leasing facilities to rent sub-metering equipment on a long-term basis, thereby providing robust solutions for property managers and building owners.
Attributes | Details |
---|---|
Industry Size of Electric Sub-meter in Western Europe in 2024 | USD 3,722.00 million |
Expected Industry Size of Electric Sub-meter in Western Europe by 2034 | USD 6,097.39 million |
Forecast CAGR between 2024 to 2034 | 5.6% |
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Country | The United Kingdom |
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Forecast CAGR % (2024 to 2034) | 5.2% |
Growth prospects for electric sub-meter in the United Kingdom are steadily rising. As per latest estimates, the country is set to surge at a CAGR of 5.2% through 2034. Top factors shaping the growth trajectory are as follows:
Country | Germany |
---|---|
Forecast CAGR % (2024 to 2034) | 5.7% |
Germany is a promising country for electric sub-meter business. Factors leading to growth expansion of the Germany electric sub-meter industry are as follows:
Cumulatively, these factors are contributing to greater sales of electric sub-meter in Germany. As per latest analysis, the country is set to surge ahead at a CAGR of 5.7% through 2034.
Country | Italy |
---|---|
Forecast CAGR % (2024 to 2034) | 6.3% |
The sales value generated from electric sub-meter is projected to appreciate at a CAGR of 6.3% through 2034. Demand for these meters in Italy is driven by:
Country | France |
---|---|
Forecast CAGR % (2024 to 2034) | 5.6% |
Deployment of electric sub-meter is rising in France at a rate of 5.6% CAGR through 2034. Factors yielding significant growth are as follows:
Country | Spain |
---|---|
Forecast CAGR % (2024 to 2034) | 4.8% |
Spain is projected to observe increasing sales at a CAGR of 4.8% through 2034. Factors fueling growth in sales are as follows:
Leading Product | Smart Sub-meter |
---|---|
Value Share % (2024) | 85.2% |
Smart sub-meters are projected to acquire a share of 85.2% in 2024. The increasing drive toward energy efficiency and performance among industrials is pushing the adoption of smart sub-meters, which are being used more frequently than their traditional variations such as electronic and electromechanical sub-meters. They assist in effective power management, the prevention of data input errors, and billing efficiency through a web-based monitoring system.
Key providers of smart sub-meters who are proactive in their approaches toward technologically advanced sub-meters are expected to realize outsized profits. Surging funding for smart sub-meters is driving up their installation in Western Europe. Additionally, federal programs have also been instrumental in raising the deployment of smart sub-meters.
Leading Phase | Single |
---|---|
Value Share % (2024) | 78.6% |
The single-phase segment is projected to acquire a share of 78.6% in 2024. A key factor supporting its usage is precision in measuring electricity consumption. Furthermore, the extensive application of single-phase in commercial, residential, and industrial settings is fueling the segment’s growth.
Key players are offering a long-term rental option for sub-metering equipment and associated services to measure heat and water usage within multi-dwelling properties across Western Europe. For this service, players are targeting property managers and building owners to serve individual dwellings.
Key participants are also forming strategic partnerships to offer smart metering solutions across the region. Additionally, the acquisition of smaller companies is another go-to strategy for industry competitors to enlarge their share in Western Europe.
Leading players are allocating a portion of their budget to innovation practices to develop unique and distinct electric sub-meter with upgraded capabilities and features. Competitors are reaching beyond their area of expertise by partnering with other leaders to upskill themselves. Partnerships are a great way to foster knowledge and expertise sharing.
Geographically, players are also searching for growth possibilities in unexplored countries. All in all, players are well-positioned to capitalize on the ongoing trend of sustainability and energy efficiency across the region with smart strategic moves.
Developments Recently Taken Place in Western Europe
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Attribute | Details |
---|---|
Estimated Industry Size in 2024 | USD 3,722.00 million |
Projected Industry Size by 2034 | USD 6,097.39 million |
Anticipated CAGR between 2024 to 2034 | 5.6% CAGR |
Historical Analysis of Demand for Electric Sub-meter in Western Europe | 2019 to 2023 |
Demand Forecast for Electric Sub-meter in Western Europe | 2024 to 2034 |
Report Coverage of Electric Sub-meter in Western Europe | Industry Size, Industry Trends, Analysis of Key Factors Influencing the Adoption of Electric Sub-meter in Western Europe, Insights on Western Europe Players and their Industry Strategy in Western Europe, Ecosystem Analysis of Local and Regional Western Europe Providers |
Key Vendors Profiled for Electric Sub-meter in Western Europe | VPInstruments; Advanced Industrial Systems Ltd.; Smartvatten; Kamstrup Water Metering L.L.C. Eldridge Products, Inc.; GWF MessSysteme AG; DH Metering Europe; UK Metering; Others |
The anticipated CAGR through 2034 is 5.6%.
Demand for electric sub-meter in Western Europe is expected to be USD 6,097.39 million by 2034.
Manufacturers are offering leasing facilities to drive up their sales.
Smart sub-meter witness significant demand among consumers in Western Europe.
Single phase takes a considerable share of the Western Europe electric sub-meter industry.
1. Executive Summary 2. Market Overview 3. Market Background 4. Western Europe Industry Analysis and Outlook 2019 to 2023 and Forecast, 2024 to 2034 5. Western Europe Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Socket Type/Electromechanical Sub-Meters 5.1.1. Feed-through Sub-Meters 5.1.2. Current Transformers 5.2. Non-socket /Electronic Sub-Meters 5.3. Smart Sub-Meters 6. Western Europe Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Phase 6.1. Single Phase 6.2. Three Phase 7. Western Europe Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Application 7.1. Commercial Establishments 7.1.1. Large Retail Stores 7.1.2. Data Centers 7.1.3. Others 7.2. Residential Sector 7.3. Industrial Sector 8. Western Europe Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. UK 8.2. Germany 8.3. Italy 8.4. France 8.5. Spain 8.6. Rest of Western Europe 9. UK Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region 10. Germany Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region 11. Italy Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region 12. France Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region 13. Spain Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region 14. Rest of Western Europe Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 15. Market Structure Analysis 16. Competition Analysis 16.1. Schneider Electric 16.2. Siemens AG 16.3. Kamstrup A/S 16.4. Itron Inc. 16.5. General Electric 16.6. Mitsubishi Electric Corporation 16.7. Osaki Electric Co. Ltd 16.8. Xylem Inc. 16.9. Bentec Electricals & Electronics Pvt. Ltd. 16.10. Genus Power Infrastructures Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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