Thermal Energy Flow Metering Solutions Market: Manufacturers Bank on Product Differentiation to Bolster Positions
Global Thermal Energy Flow Metering Solutions Market: Snapshot
The global thermal energy flow metering solutions market is highly competitive on account of the presence of a number of manufacturers. In order to stay ahead of the curve, players are expending time and money on product innovation. They are adding more features and functions to their products in order to entice buyers. Low barriers to entry of aspiring players is also serving to make the market competitive.
Majorly fuelling the global thermal energy flow metering solutions market is the thrust by many countries on onsite power generation and solar thermal energy in order to cut down their annual fossil fuel import and up energy security. Further serving to contribute to the market is the surging popularity of sustainable buildings and green buildings and the rampant urbanization which has resulted in pressing need for adequate water supply.
On the flipside, however, rising adoption of hybrid metering systems is expected to crimp sales of thermal energy flow meters in the next couple of years. A report by Transparency Market Research forecasts the global thermal energy flow metering solutions to rise at a CAGR of 5.9% from 2017 to 2025 to become worth US$4.706 bn by 2025.
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