How is the Electric Sub Meter Market Poised for Growth: Trends and Opportunities Through 2034
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How has the electric sub meter market size evolved in recent years?
The electric sub meter market has grown substantially, rising from $9.77 billion in 2024 to $10.65 billion in 2025 at a CAGR of 9.0%. Factors contributing to this growth include higher demand for energy efficiency, stricter regulations on energy monitoring, urbanization, expansion in commercial and residential construction, increased sustainability focus, smart grid infrastructure development, and the growth of renewable energy sources.
What are the predictions for the electric sub meter market size in the coming years?
The electric sub meter market is expected to grow significantly, reaching $14.94 billion by 2029 at a CAGR of 8.8%. Growth drivers include increasing energy efficiency demand, government regulations promoting smart grids, rising renewable energy adoption, urbanization, and cost-saving measures in industrial and residential sectors. Major trends include IoT integration for real-time monitoring, adoption of smart meters, advanced billing solutions, cloud-based analytics, and wireless sub metering technology.
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What key factors are fueling the growth of the electric sub meter market?
The rising adoption of renewable energy sources is driving growth in the electric sub-meter market. Renewable energy, including solar, wind, and geothermal power, provides sustainable solutions for reducing greenhouse gas emissions and addressing climate change. Electric submeters play a critical role in monitoring and optimizing energy consumption in renewable energy systems. A report by the World Resources Institute in February 2024 noted that the US installed a record-breaking 31 gigawatts (GW) of solar energy capacity in 2023, reflecting a 55% increase from 2022. This surge in renewable energy adoption is fueling demand for electric submeters.
How is the global electric sub meter market divided into key segments?
The electric sub metermarket covered in this report is segmented –
1) By Type: Non-Socket Or Electronic Sub-Meter, Socket Or Electromechanical Sub-Meter, Current Transformer, Feed-Through Sub-Meter
2) By Phase: Single Phase, Three Phase
3) By Application: Residential, Commercial, Industrial
Subsegments:
1) By Non-Socket Or Electronic Sub-Meter: Digital Non-Socket Sub-Meter, Smart Non-Socket Sub-Meter, Wireless Non-Socket Sub-Meter
2) By Socket Or Electromechanical Sub-Meter: Analog Socket Sub-Meter, Digital Socket Sub-Meter, Mechanical Socket Sub-Meter
3) By Current Transformer: Instrument Current Transformers, Protection Current Transformers, Measurement Current Transformers
4) By Feed-Through Sub-Meter: Single-Phase Feed-Through Sub-Meter, Three-Phase Feed-Through Sub-Meter, Smart Feed-Through Sub-Meter
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Who are the key firms paving the way for growth in the electric sub meter market?
Major companies operating in the electric sub meter market are Siemens AG, General Electric Company, Honeywell International Inc., ABB Ltd., Eaton Corporation plc, Chint Group Co. Ltd., Xylem Inc., Hubbell Incorporated, Schneider Electric SE, Leviton Manufacturing Company Inc., Itron Inc., Landis+Gyr AG, Jiangsu Linyang Energy Co. Ltd., Shenzhen Clou Electronics Co. Ltd., OK a.m.b.a. (Kamstrup), Ningbo Sanxing Smart Electric Co. Ltd., Charterhouse Capital Partners (Sagemcom), Shenzhen Techrise Electronics Co. Ltd., Holley Technology Ltd., NuriFlex Co. Ltd., Zhejiang Wellsun Electric Meter Co. Ltd., Ning Xia Yin Xing Energy Co. Ltd. (Longi), Zhejiang Hengye Electronics Co. Ltd., Star Treasure Investments Holdings Limited (Wasion Group), XJ Measurement & Control Meter Co. Ltd.
Which trends are expected to transform the electric sub meter market?
Major players in the electric sub-meter industry are prioritizing technological progress, such as the incorporation of cloud-based systems into energy meters, to boost data precision, facilitate real-time power tracking, and offer sophisticated analytics for energy consumption optimization and operational cost reduction. Cloud computing bases serve as online platforms that offer data storage, processing, and administration services. For instance, in February 2022, ABB Ltd., a Swiss automation company, introduced the M1M range of electric measuring and power monitoring meters for the digital panel meter. The M1M line provides economical submetering for commercial and industrial properties, while also interfacing with ABB’s cloud-based platform for comprehensive system tracking and energy maximization. These meters increase the efficiency of electrical systems by providing a broad spectrum of measurement functionalities.
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What regions are contributing significantly to the growth of the electric sub meter market?
North America was the largest region in the electric sub meter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric sub meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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