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Rapid urbanization and industrialization – The major end-users that impact heat consumption and, hence, the demand for heat meters include urban areas due to increased infrastructure expansion. The need for district heating systems with improved energy distribution and management also tends to rise as population density reaches urban centres. Heat meters are being installed as a standard practice due to legal compliance with increasing concerns of heat wastage. With the development of urban sites, there is growing concern about boosting the capacity to generate more energy as heating demand increases. In many countries, energy-saving codes and standards and sustainable development objectives have led to the extensive installation of heat meters in newly constructed buildings and districts for heating systems' proper functioning and efficiency. Furthermore, the development of smart cities as cities in which IoT is given special attention also accelerated the use of heat meters for determining power consumption in real time, which makes heat meters an indispensable part of contemporary cities.
The high initial cost of investment and maintenance – One of the key factors that bar heat meters from finding a great market within commercial, residential, and particularly ageing infrastructures is the high initial costs involved in their purchase and installation. The initial cost of a heat meter can be anything from £50 to £400 depending on the features, accuracy and technology, but this is not the full picture. Other costs include the cost of the physical meter installation, including supporting structures like sensors, data transmission systems and possible adaptations to existing heating systems. For large-scale district heating systems or commercial premises, installing heat meters in the existing building may be extremely costly. In such instances, a lot of capital expenditure is required for retrofitting old pipes, adding new control valves, and guaranteeing that the system possesses the capacity to monitor a wide range of energy consumption in various units or areas. Thus, while the long-term cost-savings associated with heat meters are apparent, the extremely high up-front costs continue to be prohibitive to growth.
Regulatory standards and relevant legislation – According to energy consumption regulation, there are strict laws and directives, especially in European regions, that require setting up heat meters on buildings and district heating systems to conform to its legislation. For instance, the Energy Efficiency Directive in the European Union mandates that new buildings and those under massive refurbishing must install individual heating and cooling meters, increasing the demand for heat meters. These regulations are meant to check on accurate monitoring and billing with consumer insight into energy usage and costs. Another reason that can be attributed to the increased use of heat meters is the energy legislation that harbours emission reduction as one of its objectives. It is important to note that a large number of countries are integrating policies that encourage the use of efficient building practices and incorporation of renewable energy, which, to the most extent, entails the provision of real-time energy metering and energy consumption data. These legislative requirements are met by applying heat meters – accurate thermal energy measurements are required to track credentials and progress towards efficiency and sustainability objectives.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global heat meter market based on below mentioned segments:
Global Heat Meter Market by Type:
Global Heat Meter Market by Application:
Global Heat Meter Market by End User Industry:
Global Heat Meter Market by Region:
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