Huge growth in the energy meter market in four years, are you ready?- Zhejiang Yongtailong Electronic Co., Ltd

Huge growth in the energy meter market in four years, are you ready?

2022-04-19 00:00

Huge growth in the energy meter market in four years, are you ready?

Smart meters are electronic measurement devices specifically designed for electrical energy measurement applications. Smart meters automatically capture the energy consumption patterns of utility customers and communicate information for accurate and reliable billing, while significantly reducing the need for manual meter reading. The use of smart meters was initially focused on the commercial and industrial end-user markets, where customers have always required fine-grained, accurate rates, and has gradually expanded from utility customers to all customer categories, including residential, commercial, industrial, and more.

l Single-Phase Smart Meters to Reach $11.1 Billion by 2026

In the coming years, the growth of the smart meter market will be driven by the growing demand for energy-efficient products and services; government initiatives to install smart meters to address energy demand; the ability of smart meters to prevent energy losses due to tamper and fraud, and reduce the cost of manual data collection; increased push for smart grid facilities: the growth of renewable energy sources into the existing generation grid: increased transmission and distribution upgrade programs, especially in developed economies; increased investment in building commercial institutions such as educational institutions and root bank institutions in developing and developed economies; new growth opportunities in Europe as countries such as Germany, the UK, France and Spain do not roll out smart meters. In the African region, as the economy grows, there is an urgent need to address smart meters in industry, commerce, residential, and utilities, bringing the same huge growth potential.

Wingtech has launched a series of meters for different regions, including DDS353 series with MID certification, DEM1 series, DTS353F series, and DEM2 series for DC metering, which are suitable for Europe. The STS split meter for Africa, with multiple communication methods, GPRS, PLC, Wi-Fine.

l Three-phase Smart Meters to Reach $4.1 Billion by 2026

The global three-phase smart meter market is expected to reach $3 billion in 2022 and is projected to reach $4.1 billion by 2026.

As the number one Chinese manufacturer of three-phase meters exported for many years, Yongtelong has the ability of R&D, manufacturing and sales. We can quickly grasp new market demands and develop meters with special market functional requirements to improve the irreplaceability of our products, thus achieving expanded market share and maintaining profit margins.

In the last five months, we have helped two customers to successfully set up and run two assembly lines, and trained two technical backbones and many production managers. We have also assisted them to start the production trial run and participate in the NMPP bidding with new capacity. Success is just around the corner!