China is expected to hold the significant share in the smart gas meter market in the Asia-Pacific region and is expected to grow at a CAGR of 6.5% during the forecast period. There is significant consumption of natural gas in the region. In September 2019, a report was published by the petroleum and natural gas department under the National Energy Administration (NEA), which states that significant growth in the consumption of natural gas will be recorded till 2050 in the country. It provides a significant opportunity for smart gas meters in the country. The natural gas consumption of the country reached 280.3 billion cubic meters in 2019 with a year-on-year growth of 17.5%, it is expected to reach 310 billion cubic meters in 2019 with a growth of 10%.
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The country has a significant scope in the natural gas infrastructure, China is the second-largest consumer of natural gas however have only about 133,000 km gas pipelines which are only one-fifth of the length of the gas pipeline of the US. The country has various natural gas-producing regions, which includes western and central parts of the country and offshore basins. The companies in China also explore natural gas other technologies such as deepwater, shale gas, and gas derived from coal seams. The first deepwater field was introduced in 2014 in the country.
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Significant activities are ongoing in the country related to natural gas in the country. In December 2019, a new pipeline of natural gas started in China from Russia. The cost of the whole project was around $55 billion. In the same month, the country announced to launch a new national oil and gas pipeline company in order to offer fair market access to infrastructure and also to motivate investment in oil and gas production. Till date, most of the pipeline infrastructure is controlled by PetroChina, which often does not have access to pipelines at competitive rates. It can restrict the new investment in oil and gas technology due to inadequate access to gas pipelines.
Market Segmentation
China Smart Gas Meter Market by Type
- Advanced Metering Infrastructure (AMI)
- Automatic Meter Reading (AMR)
China Smart Gas Meter Market by Application
- Residential
- Commercial
- Industrial
Company Profiles
- Diehl Stiftung & Co. KG
- Eaton Corp.
- Elster Group (Honeywell International Inc.)
- Itron Inc.
- Landis+Gyr AG
- Sensirion AG.
- Siemens AG
- Wasion Group
- Suntront Tech Co., Ltd.
- Xylem Inc.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
