Analysis of Electricity Meters Market in India
This Frost & Sullivan research service titled Analysis of Electricity Meters Market in India provides detailed analysis and insights into the market dynamics, trends, market shares, and forecasts by product segments. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: tariff meters (electronic meter, tri-vector meter) and panel meters (KWH meter, dual-source meter, multi-function meter).
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Government Policies and Brisk Urbanization Light up the Electricity Meters Market in India
Wider Product Portfolio to Help Meter Manufacturers Tap the Burgeoning Power Distribution Market
The highly dynamic Indian electricity meters market is aggressively innovating technologies to keep pace with the rapidly changing technical requirements of end users, mainly, power distribution companies. Most distribution companies have unique needs, which compel companies to offer tailor-made products. This demand to cater to varying end-user specifications places considerable pressure on organized market participants, as they have to continuously adjust production to meet requirements. Organized market participants with high overheads will feel the heat of the competition from suppliers of low-end products that have relatively less overheads. “The thrust on adopting best practices to improve production efficiencies and achieving economies of scale to reduce manufacturing costs and maintaining profit margins is critical to overcome price challenges posed by Tier II and Tier III suppliers,” says the analyst of this research. “The market is likely to continue growing over the next five years, primarily due to higher investments in the expansion of transmission and distribution (T&D) networks.”
While meter suppliers are developing their product portfolio to meet end-user specifications, the market will also get a boost from external sources. The tariff meters segment is expected to benefit from favorable government policies, whereas increasing industrialization and urbanization will aid the panel meters segment. “Government policies such as Restructured Accelerated Power Development and Reform Program (R-APDRP), which have the mandate of 100 percent metering, are propelling the tariff meters market,” notes the analyst. “On the other hand, accelerated industrialization, coupled with a growing focus on energy conservation, will drive the growth of the panel meters market.” As a high-end product, multi-function meters are expected to grow faster than KWH meters or dual-source meters. Major manufacturers are expected to add features such as power quality monitoring to enhance their value and make the most of the opportunities afforded by a developing infrastructure and construction industry.
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Electronic meters
- Tri-vector meters
- KWH meters
- Dual-source meters
- Multi-function meters
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