Southeast Asia will become a hot market for electricity meter manufacturers due to government calls to replace electromechanical units and utilities’ need to cut revenue losses, predicts research company Frost & Sullivan.
The new report that values the electricity meter market in Southeast Asia at US$483 million by 2018 (a rise of US$79.1 million since 2013), states that opportunities for meter manufacturers are on the rise, as power utilities implement meter replacement projects in the Philippines, Malaysia and Vietnam.
The Philippines and Indonesia have seen a particular rise in sales of prepaid meter units and the governments of both these countries are eager to install customer-friendly solutions that can control and monitor energy usage, the report says.
Avanthika Satheesh, senior research analyst at Frost & Sullivan Energy & Environmental, said: “Indonesia will be a particularly lucrative market for electricity meter manufacturers, as utility companies – who are looking to reduce their operational expenses, electricity pilferage, and power loss – are implementing a widespread meter replacement project to install prepaid meters in the residential segment.
“Other worthwhile markets include Thailand, where advanced metering infrastructure (AMI) trial projects are expected to commence, and Singapore, where AMI meter installation in the commercial and residential segments has already started.”
However, factors that could challenge market growth include customer resistance to new meter installations, a lack of skilled local labour, and financial constraints.
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