Global Electricity Meter Markets: $7.6 billion industry in 2013 forecast to rise to $9.4 billion in 2018.
A new report "The Global Market for Electricity Meters 2013 - 2050" just published by energy industry specialists StatPlan Energy highlights short term steady growth stimulated in part by smart metering but mainly by the need for replacement metering in countries without smart meter plans.
In their latest report StatPlan Energy notes:
1. Based on current smart meter plans, and taking a pragmatic view as to the likelihood of delivery to plan, smart meters account for approximately 61% by value of today’s market and this will grow to 72% in 2018.
2. The global market in 2018 will look very different from today. During the forecast period, growth in demand in Europe will be offset by a decline in demand in China especially. StatPlan Energy also sees a decline in demand in North America with other regions more stable. “The impact of a contracting market in China has obvious implications for the global picture, and also for global manufacturers as they see increasing competition coming out of China” says StatPlan Director and lead author Euan Blauvelt.
3. As time goes on, the role of asset base renewal activity (ensuring existing electricity infrastructures continue to supply efficiently, through replacement, retrofitting or upgrading) will increase to reflect peaks in the development of new capacity in the past that is now in need of attention. “We find that the replacement market is often understated in forecasts”, continues Euan Blauvelt, “on a global basis, replacement will have become the major part of the market by the middle of this decade. But replacements will not necessarily be smart meters, however they are defined.”
4. Long term forecasts (to 2050) show significant fluctuations in demand. Euan Blauvelt continues: “This is not a linear growth market even if demand for electricity is broadly linear. Working from 19 detailed, newly constructed databases, StatPlan understands how historic trends influence future growth. We account for electrification and gasification trends, replacement needs (based on age of equipment) and a range of key demographics, then take anecdotal evidence and consult with the industry to arrive at our robust, well-argued position. We conclude that the major manufacturers will need to be fleet of foot to stay ahead of the game as the geographic demand footprint changes over time.”
Details of how to purchase "The Global Market for Electricity Meters 2013 - 2050" can be found at www.statplanenergy.com. This report provides detailed assessment of the future of the electricity meter industry with short term forecasts to 2018 (by value, units and unit type) and long term trends to 2050. There are 59 detailed country profiles, 218 country forecasts and options for adding databases to the order.
Notes to Editors: StatPlan is a market research and publishing company specialising in the energy industry, especially electricity, and associated industries around the world. It publishes a range of reports and yearbooks and offers ad hoc consultancy for the energy sector.
Principal author and editor of all StatPlan publications is Euan Blauvelt. He has worked in the energy industry for 25 years and is acknowledged as an industry expert. His reports and insights are keenly anticipated by the world’s leading supply chain manufacturers, consultancies, banks, financial analysts and utilities. He was previously the founder and research director of ABS Energy Research, where he created every database and oversaw every report, personally authoring almost all of them.
For further press information, contact: David Dower, Director, StatPlan Energy Research Limited. Office: +44 1404 831186 Mobile: +44 7919 403251. E-mail: d.dower@statplanenergyresearch.com
STATPLANPR07/13/11.13
Experts in Global Electricity Industries. StatPlan Energy produces reports, forecasts and databases on aspects of the global electricity market, including publications relating to infrastructures and demand for products therein.