The global demand for Electric Sub-Meter Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028. Whereas with regards to volume, the market was calculated XX Units in 2021 and foreseen to touch XX Units by 2028 with a CAGR of XX% during 2022-2028.
Electric sub-meter is a system that allows homeowner, landlord, condominium, property management firm or others to bill tenants for individual measured electric usage. This allows facility and building manager to have visibility into the energy use and performance of their equipment by fairly billing each tenant for their portion. It is legally allowable in most states and municipalities. Installing Electric Sub-Meter allows accurate energy monitoring, real-time energy consumption, granular in-depth review of facility energy data, comparison of usage across similar facilities over time, and early access to maintenance issues for repair before critical equipment fails.
Market Dynamics
The market is driven by factors such as growing construction of buildings, tenant business, and energy management practice. Apartment buildings, large residential condominium, and landlords opt sub-meter to measure electric consumption by an individual. Energy management is a growing practice among companies that operate large buildings, campuses, and other complex facilities. Energy efficiency is the first step in achieving sustainability in buildings and helps to control increasing their energy costs while reducing their environmental footprint. Sub metering promotes conservation and nullifies the expense of bills generated from a master meter, maintenance and improvements.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of electric sub-meter.
Market Segmentation
The entire electric sub-meter market has been sub-categorized into type and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Type
- Non-socket/electronic Sub-meter
- Socket type/electromechanical Sub-meter
- Current Transformer
- Feed-through Sub-meter
By Application
- Commercial Establishments
- Industrial Sector
- Residential Sector
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for electric sub-meter market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Electric Sub-Meter Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the electric sub-meter market include Siemens AG, Elster Group, Leviton, Nuri Telecom, Honeywell International. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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