Future Outlook of the Electric Sub Meter Market: Growth, Trends, and Emerging Opportunities Explored
Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
What is the Expected Growth Rate of the Electric Sub Meter Market Based on Industry Projections?
The market size of the electric sub meter has seen substantial growth recently. The expected leap is from $9.77 billion in 2024 to $10.65 billion in 2025, showcasing a compound annual growth rate (CAGR) of 9.0%. The past growth can be credited to an upsurge in demands for energy efficiency, heightened regulatory mandates for energy monitoring, urbanisation expansion, broadening of commercial and residential buildings, heightened emphasis on sustainability, the advent of smart grid infrastructure, and increased prevalence of renewable energy sources.
The market size for electric sub meters is predicted to experience substantial growth over the coming years, reaching the value of $14.94 billion by 2029 with a compound annual growth rate (CAGR) of 8.8%. Various factors that will drive the market growth during the forecast period include the mounting demand for energy efficiency, increasing government regulations supporting smart grid systems, wider acceptance of renewable energy sources, escalating urbanization and infrastructure growth, an increased requirement for accurate energy tracking in industrial and residential areas, and a heightened emphasis on cutting down on electricity costs. Key trends expected to transpire throughout the forecast duration involve improvements in IoT integration for real-time data monitoring, the proliferation of smart meters for energy governance, the advent of sophisticated billing solutions, the adoption of cloud-based platforms for data analysis, and the uptake of wireless sub metering.
What Market Dynamics Are Playing a Key Role in Accelerating the Growth of the Electric Sub Meter Market?
The surge in the use of renewable energy sources is anticipated to boost the expansion of the electric sub-meter market. Renewable energy relies on constantly replenishing natural resources such as solar, wind, and geothermal energy. These energy sources are sustainable, environment-friendly, and crucial in reducing greenhouse gas emissions and combating climate change. The rising adoption of renewable energy stems from its environmental benefits, which include reduced greenhouse gas emissions and mitigating climate change. Electric sub-meters play a crucial role in managing and optimizing renewable energy systems by keeping track of energy production, consumption, and distribution from sources like solar, wind, and hydro. For example, as per the World Resources Institute, a non-profit organization based in the US, in February 2024, the United States saw a record-setting installation of 31 gigawatts (GW) of solar energy capacity in 2023. This was a remarkable 55% increase from the installations in 2022 and surpassed the previous record set in 2021. Hence, the surge in the use of renewable energy sources propels the electric sub-meter market.
Explore Comprehensive Insights Into The Global Electric Sub Meter Market With A Free Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=19042&type=smp
What Companies Are At the Forefront of Innovation 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.
How Are Emerging Trends in Consumer Behavior Affecting 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.
Secure Your Global Electric Sub Meter Market Report Now for Fast and Efficient Delivery!
https://www.thebusinessresearchcompany.com/report/electric-sub-meter-global-market-report
What Are the Core Categories and Segments in the Electric Sub Meter Market Driving Demand and Growth?
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
What Regions Are Propelling Growth in the Electric Sub Meter Industry?
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.
What Does the Definition of the Electric Sub Meter Market Include?
An electric sub-meter is a device used to measure and monitor electrical usage for a specific area or tenant within a larger electrical system. It operates similarly to a central electricity meter but is typically used to track the electricity consumption of individual units or zones within a building. Electric sub-meters are helpful for landlords, property managers, and facility operators to ensure fair billing and efficient energy management.
Browse Through More Similar Reports By The Business Research Company:
Commercial Electric Vehicles Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/commercial-electric-vehicles-global-market-report
Electric Vehicle Charging Stations Global Market Report 2024
Electric Vehicle Charging Stations Equipment Global Market Report 2024
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
