Electric Meter Market size registered USD 9 billion in 2019 and is set to grow at over 5.6 % CAGR from 2020 to 2026.
Lead Players in the Electric meter market incudes ABB, Eaton, Elster Group GmbH, General Electric Company, Itron Inc., Legrand, Siemens, Socomec, STMicroelectronics, wasion group, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Holley Technology UK Ltd., LINYANG Energy, and Sensus.
Nov 2020-ABB secures an order of around $150 million to deliver a comprehensive scope of technologies to power next-generation cruise ships built by Italian shipbuilder Fincantieri Strengthening its preferred supplier position in the cruise segment, ABB will equip five newbuild vessels with Azipod electric propulsion, which has a proven ability to significantly reduce fuel consumption on board. Each cruise ship will be powered by twin Azipod units, bringing the total ordered propulsion power for the five newbuilds to 178 megawatts (238,700 horsepower). Part of the order includes the largest and most powerful Azipod propulsion units ever to be installed at Fincantieri, rating at 20 megawatts each. The vessels will enter service between 2023 and 2026.
Nov 2020-Power management company Eaton announced a step forward for industrial backup power with the North American launch of the Ferrups FX uninterruptible power supply (“UPS”). Building upon decades of proven performance of the Eaton FERRUPS UPS, this new solution brings intelligent capabilities and cybersecurity to industrial applications ranging from manufacturing facilities to agricultural plants to global military installations. The Ferrups FX UPS is the ideal solution for harsh power environments in industries where downtime can have a significant impact on safety, production and revenue.
Itron, Inc., Oct 2020 which is innovating the way utilities and cities manage energy and water, today announced that New Brunswick Power (NB Power) will deploy Itron’s multi-purpose solution, including an IoT network and more than 350,000 Measurement Canada-approved distributed intelligence-enabled smart meters, to modernize its electricity grid. The project is a part of NB Power’s overarching smart grid program, which aims to create a modern grid that is smarter, cleaner, more resilient and efficient. NB Power recently received regulatory approval of the project and work is slated to begin later this year.
Market Segmentation Electric meter by phase classified on single phase and Three Phase. By application it has been Residential, commercial and utility. By region it has been North America, Europe, Asia-pacific and Row. Among these Europe and Asia Pacific collectively held above 80% of the smart electric meter market share in 2019. Shifting focus toward the adoption of energy efficient technologies coupled with increasing investments toward replacement of conventional systems with IoT based metering technology will augment the regional industry growth. Moreover, ongoing government incentives and subsidies toward the integration of smart systems across the grid infrastructure will fuel the product demand.
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