Global Three-phase DIN Rail Electric Energy Meter Market Insights 2024, Forecast To 2033
12 Nov, 2024
The three-phase din rail electric energy meter market has seen exponential growth in recent years. It is projected to grow from $77.03 billion in 2023 to $94.50 billion in 2024, at a CAGR of 22.7%. The market's growth is driven by industrialization, urbanization, the adoption of smart grid technologies, the rise of real-time pricing models, and increased efforts to prevent electricity theft. The three-phase din rail electric energy meter market is projected to grow to $216.02 billion by 2028, at a CAGR of 23.0%. This rapid growth is driven by the adoption of smart grid technologies, increasing investments in renewable energy infrastructure, rising energy costs, and electric vehicle usage. Major trends include smart meter integration, data analytics, prepayment solutions, and load management technologies.
Major Driver In The Three-phase DIN Rail Electric Energy Meter Market
The ongoing industrialization is likely to fuel the three-phase DIN rail electric energy meter market. This transformation towards large-scale manufacturing is driven by globalization and urbanization. The Federal Reserve Board noted a 0.4% increase in industrial production in March 2024, partially attributed to a rise in motor vehicle manufacturing, reflecting the growing need for efficient energy monitoring in industrial operations.
Request A Free Sample Of The Three-phase DIN Rail Electric Energy Meter Market ReportThree-phase DIN Rail Electric Energy Meter Market Competitive Landscape
Honeywell International Inc., Schneider Electric S.E., Eaton Corporation plc, Ato S.p.A., Chint Group Corporation, Gewiss S.p.A., Techno Electric & Engineering Company Limited, Circutor S.A., Kamstrup A/S, Accuenergy Inc., Four Faith Smart Power Technology Co., Ltd., ZPA Smart Energy, SATEC Ltd., Orbis Technology, CET Inc., Janitza electronics GmbH, SOS Electronic s.r.o., Nero Electronics, Tele Haase Steuergerätetechnik GmbH, Huabang Electric Technology Co. Ltd., Eastron Electronic Co. Ltd., Acrel Co. Ltd., SELEC Controls Pvt. Ltd.
Key Three-phase DIN Rail Electric Energy Meter Market Trend
Companies in the three-phase DIN rail electric energy meter market are working on advanced products like ethernet-enabled DIN rail power meters, which allow for remote monitoring, control, and data analysis via Ethernet. For example, in February 2022, Veris, a US-based energy management solutions provider, launched the E71 Series of DIN rail power meters. This series combines performance and affordability in a compact design, ideal for energy monitoring and multi-tenant metering. It offers open communication with native support for BACnet/IP, Modbus TCP/IP, and SNMP and includes dual RJ45 Ethernet ports for easy installations and native IPv6 support.
Purchase The Global Three-phase DIN Rail Electric Energy Meter Market Report Directly And Get A Swift DeliveryGlobal Three-phase DIN Rail Electric Energy Meter Market Segmentation
The three-phase din rail electric energy meter market covered in this report is segmented –
1) By Type: Stationary, Mobile
2) By Distribution Channel: Direct Sales, Distributor
3) By Application: Commercial, Industrial, Residential
By Geography:The regions covered in the three-phase din rail electric energy meter marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the three-phase DIN rail electric energy meter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Three-phase DIN Rail Electric Energy Meter Global Market Report 2024 furnishes information about the global three-phase din rail electric energy meter market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.