North America Gas Meter Market Size - By Type (Diaphragm Meters, Rotary Meters, Turbine Meters, Ultrasonic Meters, Coriolis Meters), By Technology (Smart, Conventional), By End Use, By Distribution Channel & Forecast, 2024 – 2032

North America Gas Meter Market Size

North America Gas Meter Market was valued at USD 3.7 billion in 2023 and is anticipated to register a CAGR of 5.1% between 2024 and 2032, fuelled by rising demand for smart metering solutions and the growth of natural gas infrastructure. According to the American Gas Association (AGA), the increasing emphasis on energy efficiency and conservation has led utilities to adopt smart gas meters. These meters offer real-time data and improved accuracy, facilitating better energy consumption management and billing. Furthermore, government initiatives and regulations championing smart grid technology are hastening this transition, prompting utilities to modernize their metering systems.
 

The market's growth is also bolstered by the rising adoption of natural gas as a cleaner, cost-effective energy source across residential, commercial, and industrial sectors. The AGA reports that as North American cities and states broaden their natural gas distribution networks, the demand for gas meters to oversee and control gas flow intensifies. Ongoing infrastructure upgrades, paired with technological advancements in gas metering systems, are poised to keep the market on its growth path in the region.
 

One of the primary challenges in the market is the high cost of transitioning to smart meter technology. Upgrading from traditional mechanical meters to advanced smart gas meters requires significant capital investment from utility companies, including infrastructure improvements and integration of digital systems. This can be a barrier for smaller utility companies or regions with limited budgets, slowing the overall adoption rate of smart meters across the market.
 

North America Gas Meter Market Trends

In North America, gas meters are increasingly leaning towards the adoption of smart metering technology. These sophisticated meters, which offer real-time data and remote monitoring capabilities, are setting the standard as utilities upgrade their infrastructure. According to the American Gas Association (AGA), this transition is fueled by demands for enhanced energy management, precise billing accuracy, and the incorporation of smart grid technology, facilitating more efficient energy distribution. Urban areas are at the forefront of this trend, with utilities pouring investments into advanced metering infrastructure (AMI) to streamline gas usage and cut operational costs. The AGA reports that over 60% of utilities in major cities have already implemented or are in the process of deploying AMI systems.
 

North America Gas Meter Market Analysis

Based on type, the diaphragm gas segment was crossed USD 1.6 billion in 2023 and is expected to reach USD 2.6 billion by 2032. In North America, diaphragm gas meters lead the market, thanks to their established reliability, accuracy, and cost-effectiveness, especially in residential and small commercial settings. According to the American Gas Association (AGA), these meters account for over 80% of installations in these sectors. Operating by measuring gas flow through internal chambers that expand and contract with the gas passage, these meters boast a straightforward yet efficient design. This has solidified their status as the go-to choice for decades, especially in natural gas distribution, where they ensure precise measurements across a broad spectrum of flow rates.
 

Based on technology, the conventional gas meters was worth over USD 2.5 billion in 2023 and is likely to hit USD 3.5 billion by 2032. North America's gas meter market is still largely dominated by conventional types, such as diaphragm and rotary meters. Their long-standing reputation for reliability and cost-effectiveness has cemented their position. Utility companies have trusted these traditional meters for decades, valuing their accuracy and durability. With a straightforward design and proven technology, these meters are particularly suited for residential and small commercial uses, where the advanced features of smart meters aren't as crucial.
 

U.S. emerged as the dominant country in terms of market value, generating a substantial revenue of USD 2.8 billion in 2023 and is expected to reach USD 4.4 billion by 2032. The U.S. gas meters market leads in North America due to its extensive natural gas infrastructure and high demand in residential, commercial, and industrial sectors. According to the American Gas Association, the U.S. is one of the largest producers and consumers of natural gas globally, driving the need for comprehensive metering solutions. The use of natural gas for heating, electricity generation, and industrial processes ensures a steady demand for gas meters, with millions of units installed and maintained each year.
 

Canada, on the other hand, generated revenue of around USD 739.5 million in 2023 and with a CAGR of 5% for the forecast period of 2024 to 2032. Canada's gas meters market holds a pivotal position in North America, primarily due to the country's heavy reliance on natural gas for heating. This is especially pronounced in colder regions, where both residential and commercial demands remain consistently elevated.
 

Mexico generated revenue of around USD 220.7 million in 2023 and with a CAGR of 5% through 2032. Mexico's gas meters market is becoming more important in North America due to the country's expanding natural gas infrastructure and increasing demand in homes and industries. As Mexico urbanizes and develops its energy network, there is more gas distribution to homes, businesses, and factories. The government's focus on energy reform and expanding the natural gas grid has also increased the need for reliable gas meters. Efforts to modernize utility systems and improve energy access further boost Mexico's role in the North American gas meters market.
 

North America Gas Meter Market Share

The North America gas meter industry is fragmented, with prominent players, such as Aclara, Itron, Inc., Landis Gyr, ABB Ltd., Honeywell holding a market share of 25-30%. These companies dominate the market due to their extensive research and development capabilities, strong global distribution networks, and strategic partnerships within the industry.
 

North America Gas Meter Market Companies

Major players operating in the market include:

• Aclara Tech
• Itron Inc.
• Badger Meter
• Diehl
• Schneider
• Honeywell
• Siemens
• Xyllem
• Zenner
• Master Meter
• Mueller Meter
• Kamstrup
• Neptune Technology Group
• Sierra Instruments
• Toshiba
   

North America Gas Meter Market News

• In June 2023, Itron Inc. announced a significant contract with Xcel Energy to deploy its advanced metering infrastructure (AMI) solution across Xcel's service territories in North America.
   
• In September 2022, Honeywell expanded its gas detection capabilities by acquiring Rebellion Photonics, a company specializing in intelligent, visual gas monitoring systems. This acquisition was seen as a move to enhance Honeywell's offerings in the gas metering and monitoring market.
   
• In 2022, Sensus, which is a part of Xylem Inc., announced an expansion of its smart gas meter portfolio for the North American market. The company introduced new models of its Sonix IQ ultrasonic gas meter, designed to meet the growing demand for advanced metering infrastructure in the gas utility sector.
   

This North America gas meter market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand Units) from 2018 to 2032, for the following segments:

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Market, By Type

• Diaphragm Meters
• Rotary Meters
• Turbine Meters
• Ultrasonic Meters
• Coriolis Meters

Market, By Technology

• Smart
• Conventional

Market, By End Use

• Commercial
• Industrial
  • Automotive
  • Semiconductor & Electronics
  • Food & Beverages
  • Healthcare
  • Others
• Residential

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the following countries:

• U.S.
• Canada
• Mexico