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.
New analysis from Frost & Sullivan (energy.frost.com), Analysis of Electricity Meters Market in India, finds that the tariff meters market earned revenues of $415.0 million in 2010 and estimates this to reach $890.0 million in 2017. Meanwhile, the panel meters market earned revenues of $45.0 million in 2010 and estimates this to reach $90.4 million in 2017. 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).
The 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 Frost & Sullivan's Energy & Power System's Industry Analyst. "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 Frost & Sullivan's Industry 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.
Frost & Sullivan, on 10th May, 3:30 pm IST will be hosting a complimentary webinar - Analyst Briefing (AB) on this market titled 'Metering Mandate and New Paradigms Driving Growth of Electricity Meters Market'.
How to Register:
Click on the 'Register Here' tab, given above. This will direct you to the launch page of the Webinar. Press on the ‘Attend' button; this will register you for the AB. Once you have saved the HTML page, click on it and save the event to your Calendar page.
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Ravinder Kaur / Priya George, Corporate Communications, at ravinder.kaur[.]frost.com / priyag[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.
Analysis of Electricity Meters Market in India is part of the Energy & Power Growth Partnership Services program, which also includes research in the following markets: LV and MV Switchgears, Power and Distribution Transformers, Smart Grids, Smart Meters. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.
Analysis of Electricity Meters Market in India / P5B4-14
For more information, Contact:
Tanu Chopra – Middle East and North Africa
P: +91 22 6607 2037 / F: +91 22 2832 4713
Corporate Communications – South Asia, Middle East and North Africa
M: +91 98200 50519 / P: +91 22 6607 2004