India Smart Water Metering Market Growing at a Robust 15% CAGR: MarkNtel Advisors

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the India Smart Water Metering Market, The India Smart Water Metering Market size is estimated to grow at a CAGR of around 15% during the forecast period, i.e., 2024–30. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the India Smart Water Metering Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2024-2030
CAGR (2024-2030): 15%

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India Smart Water Metering Market Segmentation Breakdown:

The India Smart Water Metering Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Component

Meters & Accessories- Market Size & Forecast 2019-2030, USD Million
IT Solutions- Market Size & Forecast 2019-2030, USD Million
Communications- Market Size & Forecast 2019-2030, USD Million

Of them all, meters & accessories hold a prominent share of the India Smart Water Metering Market due to their constant need for monitoring & measuring water consumption levels.

By Meter Type

Electromagnetic Meters- Market Size & Forecast 2019-2030, USD Million
Ultrasonic Meters- Market Size & Forecast 2019-2030, USD Million
Smart Mechanical Meters- Market Size & Forecast 2019-2030, USD Million

By Technology

Automated Meter Reading (AMR) – Market Size & Forecast 2019-2030, USD Million
Advanced Metering Infrastructure (AMI) – Market Size & Forecast 2019-2030, USD Million

By End User

Residential- Market Size & Forecast 2019-2030, USD Million
Commercial- Market Size & Forecast 2019-2030, USD Million
Industrial- Market Size & Forecast 2019-2030, USD Million
Municipal- Market Size & Forecast 2019-2030, USD Million

Amongst them, the commercial & industrial sector is estimated to acquire a considerable market share in the coming years.

Geographical Growth Insights:

By Region

North
South
East
West

MarkNtel Advisors Highlights Key Market Drivers for India Smart Water Metering Market:

Growing Need for Reducing Non-Revenue Water – For years, India has been facing the challenge of water leakage & non-revenue water, driven by the prevalence of aged & outdated water infrastructures, mismanagement, etc. According to the World Bank 2020, the average NRW (Non-Revenue Water) in India is about 38%, i.e., more than the global average NRW. The adoption of digital & advanced solutions like smart water metering has proven to be effective in reducing NRW & water losses, improving billing efficiency, increasing water conservation, and resource optimization, resulting in enhanced income generation for water utilities.

Additionally, the launch of various government initiatives such as the Smart Cities Mission. Atal Bhujal Yojana (ABHY), etc., has also pushed the demand for smart water metering solutions. In 2019, Pune Municipal Corporation (PMC) invested over 275,000 Sensus iPERL smart water meters to monitor, measure & manage activity across its network. It is the first city to implement a program aligned with the country’s Smart City Mission, thereby contributing to the growth of the Smart Water Metering Market in India.

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A Comprehensive Analysis of Leading Companies in India Smart Water Metering Market

Peltek India
Schneider Electric
ABB Limited
Honeywell Elster
Siemens AG
Landis Gyr
Badger Meter Inc.
Itron Inc.
Arad Group
Tata Communications
Others

India Automotive Paints & Coatings Market Recent Development:

In 2022, SenRaand Cranberry Analytics entered into a partnership to digitize Panaji smart city’s water supply with the low-power network and ultrasonic smart water meters in India.

What are the growth Opportunity driving the India Smart Water Metering Market?

Need for Replacement of Ageing Water Infrastructures to Create New Opportunities – Most of the water industry infrastructures in India have been outdated and deteriorating due to years of use, lack of maintenance, and the effects of natural wear & tear. This further leads to leakage and growth in non-revenue water in the country. Replacing aging infrastructures with modern systems like smart water metering that have improved leak detection mechanisms, accurate metering, and efficient distribution networks. Thus, smart water metering can reduce NRW and enhance revenue generation for water utilities.

The government of the country has been taking various initiatives to replace traditional infrastructure and overcome the challenges of water leakage, misuse, mismanagement, etc. According to the Ministry of Jal Shakti 2022, the government of India is also implementing the Repair, Renovation & Restoration (RRR) of water bodies scheme under the PMKSY (Pradhan Mantri Krishi Sinchayee Yojana). Hence, similar replacements of aging infrastructure in the commercial, industrial, and residential sectors would further generate the demand for smart water metering in the coming years and contribute to overall market growth.

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