Market Trends of Europe Water Meter Industry
This section covers the major market trends shaping the Europe Water Meter Market according to our research experts:
Communicating Smart Water Meters to have a significant growth
- Smart meters are increasingly being adopted in the region for various deployments, such as electricity, gas, and water, due to their two-way communication feature, which enables real-time tracking of utility usage by both utility supplier and consumer, and also encourages to start/reading/cutoff of supply remotely by the supplier.
- There is an increased necessity to monitor water usage, resulting in the adoption of smart water meters. The water and wastewater industries are undergoing a transformation process using ICT. The focus is to increase operational and management efficiencies and reduce expenditures and carbon footprints through smart water metering.
- More and more utilities are integrating advanced ICT solutions into their operations. With smart water metering assisting in identifying and reducing leakages and non-revenue water, the market is expected to grow exceptionally in the forecast period.
- The critical need for optimized water consumption in water-scarce areas is driving the deployment of smart water meters. According to the European Environment Agency, about 30% of the region's population is affected by water stress during an average year. Further, the situation is expected to degrade as climate change increases droughts' frequency, magnitude, and impact.
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Supportive state regulations & growing awareness on the wastage of water due to lack of accountability
- The introduction of the smart city concept across Europe has accelerated the adoption of intelligent water meter infrastructure to improve urban water supply planning and management. For instance, in July 2021, Global Omnium signed an agreement to install around 150,000 SIM cards embedded with NB-IoT technology to enhance the data communication power of 450,000 domestic & industrial smart water meters across Spain.
- The government is allocating various funds for research on smarter water systems. For instance, in February 2022, European Research Council's (ERC) Synergy Granted EUR 11 million for developing smarter water systems. The research team will develop an open-source toolbox to help policymakers plan smart water infrastructure.
- In January 2022, Denmark's water utility, Hjorring Vandselskab, partnered with Kamstrup to modernize its metering infrastructure for improved services and consumer billing. Kamstrup will provide around 20,000 intelligent water meters, related infrastructure and technology, and a remote reading system installed in Hjorring through November 2022.
- The UK government has introduced rollout strategies, policies, and programs for installing advanced metering systems across the country. For instance, AMP6, AMP7 & AMP8 water resource programs in the UK aim to install meters for over 90% of the end-users by 2022, enabling utilities with efficient water metering management, leakage reduction & repair, and regular monitoring of consumption.
- United Kingdom Government is regularly making efforts to roll out smart meters to modernize energy networks and billing systems. For instance, as per a report released by the Department for Business, Energy and Industrial Strategy (BEIS), 25.2 million smart meters were deployed across the UK as of June 2021.
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