The three-phase din rail electric energy meter global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Three-phase DIN Rail Electric Energy Meter Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The three-phase din rail electric energy meter market size has grown exponentially in recent years. It will grow from $77.03 billion in 2023 to $94.50 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to rise of industrialization, increasing urbanization, rise in adoption of smart grid technologies, increasing prevalence of real-time pricing models, and rise in electricity theft prevention measures.
The three-phase din rail electric energy meter market size is expected to see exponential growth in the next few years. It will grow to $216.02 billion in 2028 at a compound annual growth rate (CAGR) of 23.0%. The growth in the forecast period can be attributed to increasing adoption of smart grid technologies, growing investments in renewable energy infrastructure, rising energy costs, expanding use of electric vehicles, and increasing investments in manufacturing facilities. Major trends in the forecast period include technological advancements, smart meter integration, data analytics, prepayment solutions, and load management technologies.
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Scope Of Three-phase DIN Rail Electric Energy Meter Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Three-phase DIN Rail Electric Energy Meter Market Overview
Market Drivers –
The increasing industrialization is expected to propel the growth of the three-phase DIN rail electric energy meter market going forward. Industrialization is transforming an economy from primarily rural and manual production to one characterized by large-scale manufacturing, mechanization, and advanced technology. Increasing industrialization is driven by globalization, urbanization, and rising consumer demand for goods. The three-phase DIN rail electric energy meter aids industrialization by ensuring precise energy monitoring and promoting efficient electricity usage in manufacturing operations. For instance, in April 2024, according to a report published by the Federal Reserve Board, a US-based governmental organization, industrial production rose 0.4% in March, and manufacturing output saw a 0.5% increase, partly driven by a 3.1% rise in motor vehicles and parts. Excluding motor vehicles and parts, factory output rose by 0.3%. Therefore, the increasing industrialization is driving the growth of the three-phase DIN rail electric energy meter market.
Market Trends –
Major companies operating in the three-phase DIN rail electric energy meter market are focused on developing technologically advanced products, such as ethernet-enabled DIN rail power meters, to allow for real-time remote monitoring, control, and data analysis over a network. An ethernet-enabled DIN rail power meter is a device that measures electrical parameters such as voltage, current, and energy consumption and connects to a network via Ethernet for remote monitoring and management. For instance, in February 2022, Veris, a US-based energy management solutions provider, launched the E71 Series of DIN rail power meters. The E71 Series of DIN rail power meters stands out for its combination of performance and affordability in a compact design, which is ideal for energy monitoring, multi-tenant metering, and commercial submetering. Prioritizing ease of use, it offers open communication with native support for BACnet/IP, Modbus TCP/IP, and SNMP across all models. The meter facilitates seamless communication through Modbus, BACnet, or Ethernet while maintaining accurate onboard logging data for up to three years. Its dual RJ45 Ethernet ports enable simple Daisy Chain installations, and it features native IPv6 support and network auto-detection. Additionally, the DIN-mounted form factor is compatible with LVCTs and Rogowski coils.
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
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Regional Insights –
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 regions covered in the three-phase din rail electric energy meter marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the three-phase din rail electric energy meter marker are 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.
Table of Contents
- Executive Summary
- Three-phase DIN Rail Electric Energy Meter Market Characteristics
- Three-phase DIN Rail Electric Energy Meter Market Trends And Strategies
- Three-phase DIN Rail Electric Energy Meter Market – Macro Economic Scenario
- Global Three-phase DIN Rail Electric Energy Meter Market Size and Growth
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- Key Mergers And Acquisitions In The Three-phase DIN Rail Electric Energy Meter Market
- Three-phase DIN Rail Electric Energy Meter Market Future Outlook and Potential Analysis
- Appendix
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