Cooling Meters Market to value $2 Billion by 2032: Global Market Insights Inc.
Major cooling meters market participants include RB Flowmeter, ZENNER International GmbH & Co. KG, Axioma Metering, Smartdhome Srl, Integra, Xylem, Siemens, Secure Meters Ltd., Itron Inc., Danfoss, Sontex SA, Honeywell International Inc., Schneider Electric, Diehl Stiftung & Co. KG, and Landis+Gyr among others.
Selbyville, Delaware, March 29, 2023 (GLOBE NEWSWIRE) -- The cooling meters market is expected to record a valuation of USD 2 billion by 2032, according to a new research report by Global Market Insights Inc. Growing concern about global warming and increased efforts to promote district cooling will augment the demand for cooling meters. Government bodies are undertaking several initiatives to mitigate carbon emissions and foster reliance on sustainable cooling systems with low power consumption, thereby bolstering the use of district cooling meters. Key manufacturers have also been targeting to develop cooling systems with low commercial loss and energy theft detection features. This expansion of smart and efficient cooling infrastructure will thus complement the industry outlook.
In terms of product, the cooling meters market value from ultrasonic segment is anticipated to reach over USD 1 billion by 2032, on account of benefits such as high accuracy and stable operation. These cooling meters also offer the most advanced energy measurement using state-of-the-art ultrasonic flow measurement technology. These quality meters also have the highest accuracy and longest lifetime values. The report further indicates that the minimum wear and tear effects, low energy consumption, dirt resistance, and non-intrusive design benefits will positively impact the sales of ultrasonic cooling meters.
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The static technology segment reached around USD 900 million in 2022. This growth is credited to enhanced operational reliability and flexibility, low energy consumption, automated billing systems, and stable operation, among other advantages. There has been growing awareness about the ability of fully automated building operations to generate significant energy savings. The report claims that these factors will further amplify the usage of static cooling meters since they cover a range of flows for all applications in building automation or district cooling.
Industrial cooling meters market is slated to exhibit nearly 7% CAGR from 2023 to 2032, considering the rapid industrial expansion and the strong focus on energy distribution network optimization. In 2021, the food and beverage sector, for example, was among the top three manufacturing industries, with several U.S. states announcing the establishment of new food production plants. Additionally, the increasing awareness of minimized production costs will amplify the installation of cooling meters across industrial facilities.
Middle East cooling meters market is predicted to register more than 6% growth rate through 2032, driven by the growing demand for environment-friendly energy solutions. Owing to extreme weather conditions, consumers are also inclined toward adopting advanced cooling solutions. As per the report, partnership agreements between private and public sectors to develop innovative metering solutions for district cooling applications will create lucrative growth prospects for manufacturers of cooling energy meters in the region.
Key participants operating in the global cooling meters market are RB Flowmeter, ZENNER International GmbH & Co. KG, Axioma Metering, Smartdhome Srl, Integra, Xylem, Siemens, Secure Meters Ltd., Itron Inc., Danfoss, Sontex SA, Honeywell International Inc., Schneider Electric, Diehl Stiftung & Co. KG, and Landis+Gyr. These companies are incorporating varied strategies such as advanced product developments, mergers, and acquisitions to boost their foothold in the global industry.
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Partial Table of Contents (ToC) of the report:
Chapter 3 Cooling Meters Market Insights
3.1 Industry ecosystem analysis
3.2 Price trend analysis
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Growing inclination to adopt sustainable solutions
3.5.1.2 Favorable government efforts to develop zero emission buildings
3.5.1.3 Surging requirement for cooling solutions across hot climate regions
3.5.1.4 Rising demand for advanced metering solutions
3.5.2 Industry pitfalls & challenges
3.5.2.1 Technical limitations during extreme weather conditions
3.6 Growth potential analysis
3.7 Porter's Analysis
3.8 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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