Market intelligence firm Northeast Group forecast the global investment, excluding China, in smart gas metering to reach $3.2 billion in 2019.
According to the firm's new study analysing the 2019-2028 smart gas metering industry:
The smart gas metering market has long lagged behind electricity metering due to a smaller overall market and fewer business case drivers. The trend is changing with an expansion of the market.
Factors driving the increase in market revenue include large rollouts in Europe and by global utilities to improve pressure monitoring, methane and gas quality sensing, and reduce lost and unaccounted for (LAUF) gas.
There is an increase in interests for smart metering by utilities in countries without AMI rollouts.
Chris Testa, research director at Northeast Group, said: “Smart gas metering has finally begun to grow in recent years due to rollouts in countries such as France, Italy, the Netherlands, and the UK.
"These rollouts are also helping to demonstrate the value of smart gas metering in terms of operational efficiency, improved safety, and more effectively managing consumption.”
The report covers the market trends in 57 countries. For more information about the report, visit www.northeast-group.com.