Electric Sub Meter Market Forecast 2025-2034: Growth Dynamics, Emerging Trends, and Strategic Opportunities
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theElectric Sub Meter Market?
The growing adoption of renewable energy sources is expected to boost the electric sub-meter market. Renewable energy, such as solar, wind, and geothermal power, is gaining traction due to its environmental benefits and sustainability. Electric submeters play a crucial role in managing renewable energy systems by tracking energy production and consumption. For instance, in February 2024, the World Resources Institute reported that the U.S. installed 31 gigawatts of solar capacity in 2023. The adoption of renewable energy will drive the electric sub-meter market.
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#What is the Anticipated CAGR of theElectric Sub Meter Market, and What Factors Will Drive It?
The electric sub meter market will expand from $9.77 billion in 2024 to $10.65 billion in 2025 at a CAGR of 9.0%, driven by demand for energy efficiency, regulatory energy monitoring, urbanization, construction growth, sustainability focus, smart grids, and renewable energy growth.
The electric sub-meter market size is expected to grow to $14.94 billion in 2029 at a CAGR of 8.8%. Growth is attributed to rising energy efficiency demand, government smart grid regulations, renewable energy adoption, urbanization, and the need for precise energy monitoring. Trends include IoT integration for real-time monitoring, smart meters for energy management, advanced billing solutions, cloud-based analytics, and wireless sub-metering.
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What Are the Current Market Growth and Trends in theElectric Sub Meter Market That Industry Players Should Watch?
Companies in the electric sub-meter market are incorporating cloud computing platforms to enhance data accuracy and optimize energy consumption. ABB Ltd. introduced M1M series meters in February 2022, integrating with its cloud platform to offer real-time monitoring and energy optimization for commercial and industrial buildings.
What Are the Major Market Players Making an Impact on theElectric Sub Meter Market Growth?
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.
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How Are the Key Segments of the Electric Sub Meter Market Driving Opportunities and Innovations?
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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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theElectric Sub Meter Market?# Market Expansion?
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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