Electric Sub Meter Market Poised for Robust Growth, Forecasted to Expand at 6% CAGR from 2023-28

MarkNtel Advisors has released its latest report highlighting strong growth in The Global Electric Sub Meter Market size was valued at around USD7.5 billion in 2022 and is projected to grow at a CAGR of about 6% during the forecast period, i.e., 2023-28.

Report Coverage

This report offers a comprehensive analysis of the Electric Sub Meter Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2022
• Forecast Years: 2023-28
• Historical Years: 2018-21

Electric Sub Meter Market Overview

The market is driven by the growing awareness among individuals about the availability of electrical sub-metering systems for quality monitoring & accurate management, augmenting its deployment across residential & corporate locations.

Besides, with the capabilities of gathering & tracking real-time energy consumption while precisely monitoring & eliminating energy wastage, the installation of these meters is escalating swiftly. Other facilities, like detecting exact energy usage & preventing any critical issues by offering early maintenance allow users to minimize operational costs & improved energy management. These aspects are also aiding in upscaling the Global Electric Sub Meter Market share.

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Electric Sub Meter Market Segmentation Outlook

The Electric Sub Meter is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Product

• Smart Sub-Meter
• Electronic Sub-Meter (Non-Socket Type)
• Electromechanical Sub-Meter (Socket Type)

By Phase

• Single Phase
• Three Phase

By End-User Application

• Industrial
• Residential
• Commercial

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Electric Sub Meter Market Trend

Increasing Adoption of Smart Metering to be a New Market Trend – The adoption of smart meters has been an emerging trend in the market, gaining wide installation in residential, commercial, and industrial buildings. Smart meters are advanced digital devices that provide real-time electricity consumption data to both consumers & utility companies & enable remote reading, two-way communication, and help consumers in monitoring & optimize their energy usage. This continuous flow of information allows consumers to access detailed insights into their energy consumption patterns, helping them to take wise decisions about their electricity usage and, ultimately, reducing their energy bills.

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Top Electric Sub Meter Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies Bentec Electricals & Electronics Pvt. Ltd., General Electric, Genus Power Infrastructures Ltd., Hexing Electric Co. Ltd., Itron Inc., Kamstrup A/S, Leviton Manufacturing Co. Inc., Mitsubishi Electric Corporation, Osaki Electric Co. Ltd, Schneider Electric, Siemens AG, Xylem Inc., OthersOthers as key players shaping the market landscape.

Electric Sub Meter Market News

• 2023: Metro Prepaid has launched its electric sub meters in Ireland which would help the landlords to collect utility payments from their tenants. The launch of Metro Prepaid’s electric sub meters in Ireland is a positive step towards more sustainable & efficient energy consumptio

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2028?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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