Expanding Role of Natural Gas in Global Energy Mix & Parallel Increase in Spending on Gas Distribution Automation Drives Demand for Smart Gas Solutions


The global market for Smart Gas Solutions is projected to exceed US$23 billion by 2024, driven by the expanding role of natural gas in the global energy mix, parallel increase in tech spending on gas distribution networks, and rising emphasis on building a low-carbon, energy-efficient society.

Gas is expected to become the most important and widely available energy source similar to electricity, thanks to the power-to-gas potential from renewables, especially increasing use of biogas and natural gas. The discovery of the fracking process has completely changed the outlook for natural gas worldwide. Gas utilities the world over are facing mounting challenges in ensuring safe, efficient, and cost-effective delivery of natural gas. Few of the many economic and environmental challenges faced by gas utilities include volatile gas prices; expanding population and the resulting need to meet new gas infrastructure and replace aging infrastructure; need for improving safety standards; safeguard limited natural gas resources; and meet stringent existing and upcoming regulations, among others. Against the backdrop, smart gas solutions emerge as the perfect platform for enabling proactive monitoring, metering, measuring, regulating, and safeguarding of gas resources.

Healthy growth is projected for the smart gas solutions market in the coming years driven by rising capital expenditure on gas infrastructure worldwide; increasing deployments of smart gas meters; growing popularity of customized solutions; and robust demand from gas utilities. The primary benefit offered by smart gas solutions that is driving strong adoption by utilities include the ability to efficiently expand capacities for catering to the growing population base and at the same time increase the safety and reliability quotient of existing infrastructure. Other benefits include optimum management of utility resources, components, and processes; improved gas quality; accurate metering; optimization of asset performance and profitability; greater operational and financial control of distribution networks; enhanced customer relationships; improved financial performance and productivity, and the ability to meet new challenges and opportunities through reliable and flexible metering systems and solutions. Digital technologies and the Industrial Internet of Things (IIoT) are also expected to play a major role in gas networks as gas generation technologies evolve to become the preferred energy platform against a backdrop of increasing dependence on gas.

As stated by the new market research report on Smart Gas Solutions, Europe represents the largest market worldwide. Asia-Pacific represents the fastest growing market with a CAGR of 22.6% over the analysis period driven by expanding natural gas sector, growing awareness about smart metering, and introduction of innovative smart metering technologies.

Key players in the market include ABB Ltd., Aclara Technologies LLC, Aidon Oy, Badger Meter Inc., Capgemini SA, CGI Group Inc., Chongqing Shancheng Gas Equipment Co. Ltd., CyanConnode Holdings PLC, Dandong Dongfa (Group) Co. Ltd., Diehl Metering GmbH, DTE Energy Co., EDMI Ltd., Elster Group GmbH, Enel X, GE Grid Solutions, Holley Technology Ltd., Iskraemeco d.d., Itron Inc., Landis+Gyr, Schneider Electric SE, Sensus, Silver Spring Networks, Tantalus Systems Inc., Trilliant Holdings Inc., among others.

The research report titled “Smart Gas Solutions - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
  
Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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