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Commercial Cooling Meters Market Size

Report ID: GMI11500
Published Date: Sep 2024
Report Format: PDF

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Commercial Cooling Meters Market Size

The global commercial cooling meters market was valued at USD 859.5 Million in 2023 and is anticipated to grow at a CAGR of 5.8% from 2024 to 2032. Cooling meters are devices used to measure the energy consumed for cooling purposes in heating, ventilation, and air conditioning (HVAC) systems. These meters quantify the amount of thermal energy removed from a space or transferred via cooling systems, typically in chilled water or other cooling mediums.

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Cooling meters deliver accurate energy usage data, empowering building managers to fine-tune HVAC systems, curtail energy waste, and diminish operational costs. As energy audits increasingly identify inefficiencies in commercial cooling systems, targeted improvements—such as equipment upgrades or system setting adjustments—are becoming more prevalent. These enhancements not only elevate energy performance but also yield significant cost savings, positively impacting the industry statistics. Furthermore, the incorporation of cooling meters into smart building systems is set to bolster the business landscape.

Commercial Cooling Meters Market Report Attributes
Report Attribute	Details
Base Year:	2023
Commercial Cooling Meters Market Size in 2023:	USD 859.5 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.8%
2032 Value Projection:	USD 1.41 Billion
Historical Data for:	2021 - 2023
No. of Pages:	100
Tables, Charts & Figures:	20
Segments covered:	Product, Technology, Application and Region
Growth Drivers:	Growing demand for energy efficiency Integration with smart building technologies Regulatory compliance and incentives
Pitfalls & Challenges:	Technical limitations during extreme weather conditions

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Increasing use of energy audits in commercial applications to identify inefficiencies in cooling systems enables targeted improvements, such as upgrading equipment or adjusting system settings. These measures enhance energy performance and result in cost savings, thereby boosting the product demand. Additionally, expansion of the retrofit market for cooling meters as older commercial buildings are modernized with advanced metering systems to meet energy efficiency goals will drive the business scenario. Moreover, many businesses are upgrading existing meters to smart cooling meters to gain better control over their energy usage and comply with new regulations, strengthening the industry landscape.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of commercial cooling meters was worth over USD 859.5 million in 2023 and is anticipated to grow at a 5.8% CAGR from 2024 to 2032, due to rising usage of devices used to measure the energy consumed for cooling purposes in heating, ventilation, and air conditioning (HVAC) systems.

Commercial cooling meters market from the ultrasonic segment is set to exceed USD 920 million by 2032, as these meters have no moving parts, making them less prone to wear and tear, which results in significantly lower maintenance costs over time.

North America commercial cooling meters industry is set to exceed USD 639 million by 2032, led by ongoing integration with smart building management systems (BMS) for automated controls, real-time monitoring, and data-driven energy optimization.

Axioma Metering, BMETERS, Diehl Stiftung & Co. KG, Danfoss, Honeywell International Inc., Itron, Integra, Kamstrup, Landis+Gyr, Sontex, Schneider Electric, and Siemens.