Global Quick Overview of the Electric Sub Meter Market Analysis
The Global Electric Sub Meter Market Analysis, research report provides an in-depth market study with qualitative and quantitative research of the continuing industry trends, opportunities, growth areas, drivers, and challenges, which would enable stakeholders to align their market strategies according to the present & future market dynamics.
Detailed Analysis of Electric Sub Meter Industry (2023-28): Reveals Further Growth &Market Expansion
According to the most recent study, the Global Electric Sub Meter market is expected to grow at a CAGR of around 6% during the forecast period, 2023-28, The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, regional landscape, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2023-28.
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Global Electric Sub Meter Market Possible Restraint:
High Initial Installation Cost for Electric Sub Meter to Hinder the Market – Since the initial cost associated with the installation of electric sub meters is high, it might restrain cost-sensitive consumers from deploying these meters & affect the market growth in the future. Moreover, inadequate awareness among people about the availability of such meters for energy efficiency & sustainability is also hindering the installation of electric sub meter & might hamper the fledged market growth in the coming years.
Electric Sub Meter Market Segmentation Analysis
-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
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Geographical Analysis:
-By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
The Asia-Pacific region would witness considerable growth in the forecast period owing to a rise in the construction of residential & commercial buildings. Residential building construction has been on surge due to rapid urbanization & population growth during the historical years & the trend is expected to continue in the coming years as well, which would further boost the installation of electric sub meter. According to the UN-HABITAT, around 54% of the global urban population, or nearly 2.2 billion population lives in Asia. Thus, an increase in the population & urbanization has further led to a boost in the housing crisis in countries such as India, China, Vietnam, etc.
Key Players and Competitive Strategies in the Electric Sub Meter Market
The report provides a study that looks at the requirements for manufacturing and processing, project expenses, finance, and economics, as well as projected profit margins and returns on investment. This also helps in identifying the major market players in the market such as:
- 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.
- Others
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Global Electric Sub Meter Industry Recent Development
- 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 consumption
Key Report Highlights
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the globe?
- How has the industry been evolving in terms of geography and product adoption?
- How has the competition been shaping up across various regions?
- How have buying behaviour, customer inclination, and expectations from product manufacturers been evolving during 2023-28?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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