Global Smart Gas Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Overview and Scope
A smart gas refers to a distribution gas network that uses innovative digital solutions to integrate renewable gas sources and hydrogen in cost-effectively to accomplish total decarbonization and develop links with other energy carriers and industries.

Sizing and Forecast
The smart gas market size has grown rapidly in recent years. It will grow from $24.47 billion in 2023 to $28.2 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%.  The  growth in the historic period can be attributed to regulatory initiatives, infrastructure modernization, cost reduction pressures, environmental awareness, consumer demand for efficiency.

The smart gas market size is expected to see rapid growth in the next few years. It will grow to $50.4 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%.  The growth in the forecast period can be attributed to iot expansion, smart city initiatives, renewable energy integration, global energy transition, energy management solutions. Major trends in the forecast period include advanced metering infrastructure (ami), data analytics and artificial intelligence, cybersecurity measures, renewable gas integration, blockchain technology, smart cities initiatives.

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Segmentation & Regional Insights
The smart gas market covered in this report is segmented –
1) By Device: Automatic Meter Reading (AMR), Advanced Meter Infrastructure (AMI)
2) By Solution: Supervisory Control And Data Acquisition (SCADA), Geographical Information System (GIS), Enterprise Asset Management, Mobile Workforce Management (MWM), Meter Data Analytics, Gas Leak Detection, Meter Data Management (MDM)
3) By Service: System Integration, Program Management, Installation
4) By End-User: Commercial And Industrial, Residential

North America was the largest region in the smart gas market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global smart gas market report during the forecast period. The regions covered in the smart gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increased usage of natural gas is expected to propel the growth of the smart gas market going forward. Natural gas refers to a combination of hydrocarbon-rich gases and it is used in the residential and commercial sectors to heat buildings and water, run refrigeration and cooling equipment, cook, dry clothing, and provide outdoor lighting. Smart gas is used in natural gas infrastructure to derive valuable data and analytical insights from improving their decision-making process and helps in harmful gas detection, oxygen level measurement, fire hazard prevention, pipe corrosion protection, and risk management to enhance the natural gas distribution network. For instance, in November 2022, according to a report published by the US Energy Information Administration, a US-based government agency for energy, in 2021, the United States utilized approximately 30.66 trillion cubic feet (Tcf) of natural gas, the equivalent of approximately 31.73 quadrillion British thermal units (quads) and 32% of total US energy consumption. Furthermore, in 2022, industrial natural gas use will account for approximately 26% of total US natural gas consumption, whereas industrial natural gas consumption in the United States will rise by 3% in 2022 after rising by 2% in 2021 and natural gas industrial consumption exceed 23 billion cubic feet per day in 2022 as compared to its previous year. Therefore, the increased usage of natural gas is driving the growth of the smart gas market.

Key Industry Players
Major companies operating in the smart gas market report are General Electric Company, Itron Inc, Schneider Electric SE, ABB Group, Landis+Gyr Inc, Orcale Corporation, Elster Group SE, Xylem Brand, Aclara Technologies LLC, Cap Gemini S.A, Diehl Stiftung and Co.KG, Silver Spring Networks Inc, International Machines Business Corporation, Sensus USA Inc, Verizon Communications Inc., Badger Meter Inc., Consultants to Government and Industry Incorporated, Holley Technology Ltd., KROHNE Messtechnik GmbH, Senstar Corporation, OSIsoft LLC, EnerNOC Inc., Capgemini SE, Siemens AG, Suez SA, Xylem Inc., Tieto Corporation, Yokogawa Electric Corporation, International Business Machines Corporation, Azbil Corporation, Capstone Turbine Corporation, I2O Water Ltd.

The smart gas  market report table of contents includes:
1. Executive Summary

2. Smart Gas Market Characteristics

3. Smart Gas Market Trends And Strategies

4. Smart Gas Market - Macro Economic Scenario

5. Global Smart Gas Market Size and Growth

.

31. Global Smart Gas Market Competitive Benchmarking

32. Global Smart Gas Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Smart Gas Market

34. Smart Gas Market Future Outlook and Potential Analysis

35. Appendix

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