Huge rise overall! From the report of watch companies in the first half of the year, we can see the positive signal of the meter market
Published:
2023-03-24
Energy grid is an important measure for countries to improve energy efficiency, promote green economy, and cope with environmental climate change, and the global large-scale smart grid construction brings broad market space for smart meter products.
Energy grid is an important measure for countries to improve energy efficiency, promote green economy, and cope with environmental climate change, and the global large-scale smart grid construction brings broad market space for smart meter products. According to PR Newswire, the global smart meter market was approximately $11.4 billion in 2022 and is expected to reach $15.2 billion by 2026, growing at a compound annual growth rate of 6.7%.
China has become the world's largest consumer market for smart meters in the field of electricity consumption and a major exporter
In the domestic market, thanks to the "dual carbon" policy and the "14th Five-Year Plan", the overall investment in electricity has continued to increase. During the "14th Five-Year Plan" period, State Grid plans to invest 2.4 trillion yuan in power grids, and the "14th Five-Year Plan for Power Grid Development of China Southern Power Grid" proposes that during the "14th Five-Year Plan" period, China Southern Power Grid Corporation will plan to invest about 670 billion yuan in overall power grid construction. Smart meters will also usher in broad market demand with the construction and transformation of domestic power grids. In the first half of 2022, State Grid added 1 batch in addition to the regular 2 batches of bidding, the total number of completed new batches and the first batch of bidding reached 42.3 million units, and domestic electricity meters are being upgraded to the fourth generation of smart IoT meters, considering the value increase brought by the new generation of smart meters and IoT meters under the IR46 standard, the total amount of bidding increased by about 36% year-on-year; In terms of China Southern Power Grid, the total amount of the first batch of meter bidding in 2022 will be about 1.07 billion yuan, a year-on-year increase of about 60%.
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