Europe Heat Meters Market size is predicted to grow at a significant CAGR from 2021 to 2027 on account of extreme cold climatic conditions along with government-funded schemes concerning toward the incorporation of heating systems. Stringent policies for the utilization of clean energy resources coupled with rigid emission norms will favor the deployment of sustainable heating technology. Paradigm consumer shift to reduce the dependency on fossil fuels and environmental concerns will complement the market landscape.
The COVID- 19 pandemic has created havoc in the industry in an unprecedented manner. Several countries imposed strict curfews & lockdowns to maintain social distance and decline the number of infected patients. Labor shortages, halt in manufacturing processes, and ceased distribution sectors are key factors hampering the industry growth. A slowdown in the economy together with declined GDPs of major economies has hampered the market expansion.
Europe Market, By Product
The Europe ultrasonic heat meters market will gain high momentum through 2027, owing to the rising demand for efficient & reliable heat techniques and robust growth of industrial sector. These units offer a high level of data accuracy and assure minimal energy consumption along with long-lasting stability, durability & dirt resistance. In addition, unfavorable industrial working conditions across the frost regions connected to the Arctic will boost the product deployment.
Europe Market, By Technology
The static heat meters market in Europe will witness substantial growth during the forecast period, led by the ongoing expansion of industrial & commercial facilities and surging adoption of advanced building technologies. Stringent regulations toward environment protection in line with shifting focus toward green substitutes comprising hybrid technologies will fuel the market expansion. The high data precision recording technique along with an elevated demand for trigeneration technologies will accelerate the product adoption.
Europe Market, By Application
The residential application segment is poised to expand exponentially till 2027, due to the ongoing expansion of residential infrastructure and rising demand for thermal units. Increasing requirements for customized individual billing accompanied by the deployment of district heating devices across multi-story buildings will favor the industry dynamics. Furthermore, favorable regulatory directives on the adoption of environmentally viable heat networks along with flourishing real estate sector with propel the market size.
Europe Market, By Country
The Sweden heat meters market revenue is projected to observe lucrative growth rate between 2021 and 2027, propelled by favorable government financial initiatives & schemes along with the surging development of industrial and commercial establishments. Increasing consumer preference toward smarter units coupled with surging adoption of renewable energy resources will boost the market demand. For instance, in 2020, more than 54% of the energy across the nation is generated from renewables with mandatory targets to achieve 100% clean-energy energy production by 2040.
Competitive Industry Landscape
Key players operating across the industry include Zenner, Danfoss, Axioma, Itron, Apator, Secure Meters, ista Energy Solutions, Kamstrup, Siemens, Landis+Gyr, Diehl, Sontex, BMETERS, Schneider Electric and Micronics, amongst others. Manufacturers are focusing on product innovations and the introduction of advanced technologies to strengthen their market share.