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Residential Cooling Meters Market Trends

Report ID: GMI11654
Published Date: Oct 2024
Report Format: PDF

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Residential Cooling Meters Market Trends

Smart meters offer advanced features like real-time data collection, remote monitoring, and integration with smart home systems, make them ideal for modern residential buildings, stimulating the industry landscape. Increasing adoption in regions with district cooling systems, smart city projects, or where energy efficiency is a priority, will augment the product demand. Many countries are implementing strict energy efficiency regulations, especially in Europe, Asia-Pacific, and North America. These regulations require more accurate metering to ensure efficient cooling usage and billing, driving the adoption of advanced cooling meters in residential buildings.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market for residential cooling meters was worth over USD 299.65 million in 2023 and is anticipated to grow at a CAGR of 6.3% between 2024 to 2032, due to the surging requirement for cooling solutions across hot climate regions.

The Ultrasonic cooling meters market is expected to surpass USD 346 million by 2032, attributed to their ability to deliver precise and accurate readings of cooling energy consumption.

The mechanical segment is projected to grow at a CAGR of over 6% through 2032, driven by regulatory requirements and the specific needs of residential consumers.

Middle East residential cooling meters industry is likely to exceed USD 324 million by 2032, on account of rising demand for energy efficiency, government regulations, and increased urbanization.

Some of the key players in the industry include Axioma Metering, BMETERS Srl, Diehl Stiftung & Co. KG, Danfoss, Honeywell International Inc., ista Energy Solutions Limited, Kamstrup, Landis+Gyr, Schneider Electric, Sontex SA, Secure Meters Ltd., Siemens.