Electric Submeters Sales Market Outlook

The global electric submeters market is projected to reach approximately USD 3.5 billion by 2035, growing at a compound annual growth rate (CAGR) of around 8.2% during the forecast period from 2025 to 2035. The rise in demand for energy-efficient solutions across various sectors is a significant driving force behind this growth, as organizations and households alike seek ways to manage their energy consumption more effectively. Additionally, the continuous development and adoption of smart technologies, including the Internet of Things (IoT), are expected to further enhance the functionality and appeal of electric submeters. Moreover, the increasing emphasis on sustainable energy practices and the need for accurate energy monitoring are contributing to a heightened awareness of the value that electric submeters provide. This combination of factors positions the electric submeters market for substantial growth in the coming years.

Growth Factor of the Market

The growth of the electric submeters market can be attributed to several interrelated factors that highlight the increasing focus on energy management. First and foremost, the global push toward sustainability has led to a greater need for precise energy monitoring solutions, as organizations aim to reduce their carbon footprint. Furthermore, regulatory measures in various regions that mandate energy efficiency are driving the adoption of submeters among businesses and residential users alike. The advancement of smart grid technologies has also played a crucial role, offering enhanced capabilities for real-time energy consumption tracking. Additionally, the rising cost of energy has made consumers more conscious of their usage patterns, encouraging them to invest in submeters to achieve better energy management. Finally, as more consumers and businesses embrace renewable energy sources, electric submeters provide the necessary functionality to monitor and adapt to these evolving energy systems.

Key Highlights of the Market

• Projected market growth at a CAGR of 8.2% from 2025 to 2035.
• Increasing demand for energy-efficient solutions across various sectors.
• Heightened focus on sustainability and environmental regulations.
• Advancements in smart technologies driving performance and functionality.
• Growing adoption of renewable energy systems necessitating accurate monitoring.

By Type

Single-Phase Submeters:

Single-phase submeters are primarily used in residential and small commercial buildings to monitor energy consumption for individual units. These devices are typically straightforward in design and are capable of measuring the electricity used by household appliances and fixtures. The increasing number of households adopting energy-efficient appliances is driving the demand for single-phase submeters, as consumers seek to track their energy usage closely. Moreover, with the growing trend of smart home technologies, these submeters can be integrated into home automation systems, enabling homeowners to manage their energy consumption in real time. This segment is expected to witness significant growth, fueled by the increasing awareness of energy costs and the need for precise monitoring in residential settings.

Three-Phase Submeters:

Three-phase submeters are designed for industrial and larger commercial applications, where heavy machinery and equipment consume substantial amounts of electricity. These submeters are capable of accurately measuring energy usage across three-phase electrical systems, making them essential in environments such as manufacturing plants, warehouses, and large office buildings. As industries strive for better energy management practices, the demand for three-phase submeters is expected to increase. Additionally, with the integration of IoT technology, these submeters can provide valuable data analytics, helping businesses optimize their energy consumption and reduce operational costs. The continuous expansion of industrial sectors in developing economies further enhances the growth potential of this segment.

By User

Residential:

The residential segment is one of the most significant contributors to the electric submeters market, driven by the increasing awareness of energy conservation among homeowners. With the rising costs of electricity and the growing emphasis on sustainable living, homeowners are increasingly installing submeters to monitor their energy consumption. This allows them to identify high-consumption areas and make informed decisions to reduce their energy bills. Additionally, the popularity of smart home systems that facilitate remote monitoring and control of energy usage boosts the demand for residential submeters. As smart metering becomes more prevalent, this segment is projected to grow steadily in response to evolving consumer preferences and regulatory pressures aimed at improving energy efficiency.

Commercial:

In the commercial sector, the demand for electric submeters is increasing as businesses recognize the importance of energy management in reducing overhead costs. Commercial properties, including offices, retail establishments, and hotels, are increasingly adopting submeters to gain insights into their energy consumption patterns. This not only enhances operational efficiency but also aids in compliance with energy-saving regulations. Additionally, commercial entities are often under pressure to demonstrate sustainability initiatives, and the installation of submeters allows them to track and report their energy usage effectively. As the focus on corporate social responsibility grows, more businesses are likely to invest in electric submeters, which will drive growth in this segment.

Industrial:

The industrial user segment represents a robust market for electric submeters, as industries are continually seeking ways to optimize their energy use and reduce costs. Submeters are crucial in manufacturing plants, where equipment operates on three-phase power and where energy consumption can be substantial. By employing submeters, industries can monitor energy usage at a granular level, identifying inefficiencies and areas where energy savings can be achieved. Furthermore, the integration of submeters with energy management systems assists industries in complying with environmental regulations and sustainability goals. The expected growth in industrial automation and the increasing adoption of smart manufacturing are anticipated to drive continued demand for submeters in this segment.

By Technology

Digital Submeters:

Digital submeters are gaining traction due to their advanced features and capabilities, offering accurate and real-time data on energy consumption. Unlike traditional analog submeters, digital devices provide precise measurements and often come equipped with communication interfaces that facilitate easy integration with energy management systems. This technology allows users to access energy data remotely, enabling better monitoring and management of energy usage. The growing trend toward digitalization in energy management, combined with the increasing popularity of IoT devices, is driving the demand for digital submeters across residential, commercial, and industrial segments. As more consumers and businesses recognize the benefits of accurate energy tracking, the digital submeter market is expected to expand significantly.

Analog Submeters:

Despite the rise of digital technologies, analog submeters continue to hold significance, particularly in regions where traditional energy monitoring solutions are still prevalent. These devices are typically simpler in design and cost-effective, making them attractive for applications that do not require advanced features. Analog submeters are easier to install and maintain, which adds to their appeal for budget-conscious consumers. While the market for analog submeters may not grow as rapidly as that for digital devices, they still serve a vital role in various scenarios, particularly in older buildings or in regions where technology adoption is slower. Consequently, this segment is expected to sustain its presence in the market, catering to specific user needs.

By Connection Type

Wired Submeters:

Wired submeters are traditionally favored in many installations due to their reliability and stability in data transmission. These devices use conventional wiring to connect to energy monitoring systems, ensuring consistent performance even in environments with potential signal interference. Wired systems are especially beneficial in industrial and commercial settings where large machinery and equipment require precise energy monitoring. Additionally, the installation of wired submeters is often straightforward, making it a preferred choice for users prioritizing a robust and secure energy monitoring solution. As organizations continue investing in energy management systems, the wired submeter segment is expected to maintain a significant market share.

Wireless Submeters:

Wireless submeters are rapidly gaining popularity due to their flexibility and ease of installation. These devices eliminate the need for extensive wiring, which can be both costly and time-consuming to implement. Wireless technology enables submeters to transmit energy consumption data over radio frequencies or through Wi-Fi, allowing for real-time monitoring and data analysis. This is particularly advantageous in residential and commercial applications where space constraints may limit installation options. Additionally, the growing trend of smart homes and smart buildings supports the adoption of wireless submeters, as they can seamlessly integrate with existing home automation systems. As consumers and businesses increasingly seek convenient and efficient energy monitoring solutions, the demand for wireless submeters is expected to rise.

By Region

The North American electric submeter market is projected to grow significantly, driven by increasing energy consumption and rising costs of electricity. With a market value estimated at USD 900 million by 2035, North America is expected to register a CAGR of approximately 9.0% during the forecast period. The growing emphasis on energy efficiency and sustainability initiatives by both government and private sectors is further propelling market growth in this region. Furthermore, technological advancements in smart grid solutions and an increasing number of residential and commercial users adopting energy monitoring systems are contributing to the robust demand for electric submeters across North America.

In Europe, the electric submeter market is also witnessing substantial growth, with a projected market value of approximately USD 800 million by 2035. The region is characterized by stringent regulations aimed at reducing energy consumption and promoting renewable energy usage, which is driving the adoption of electric submeters in various segments. Furthermore, the increasing focus on energy management and sustainability practices among businesses is contributing to the uptake of energy monitoring solutions. As countries within Europe continue to invest in smart grid technologies and energy efficiency initiatives, the demand for electric submeters is anticipated to remain strong.

Opportunities

As the global emphasis on sustainability and energy efficiency continues to grow, numerous opportunities exist within the electric submeters market. One of the most promising avenues is the integration of smart technologies with electric submeters. The advent of the Internet of Things (IoT) has revolutionized how energy consumption is monitored and managed, allowing for real-time data collection and analysis. This presents an opportunity for manufacturers to develop advanced submeters capable of integrating seamlessly with smart home systems, enabling users to track their energy consumption remotely and make informed decisions based on data analytics. As businesses and consumers increasingly seek innovative energy management solutions, the demand for smart submeters equipped with IoT capabilities is expected to rise significantly.

Another notable opportunity lies in the growing industrial sector, particularly in developing economies. As these regions experience rapid urbanization and industrialization, there will be a heightened need for efficient energy management solutions. Industries are becoming more aware of the importance of monitoring energy usage to optimize operations and reduce costs. This creates a fertile ground for electric submeter manufacturers to supply tailored solutions that meet the unique requirements of industrial clients. Additionally, government initiatives aimed at promoting energy efficiency through grants and incentives will further bolster the demand for electric submeters, creating substantial opportunities for growth in this segment.

Threats

Despite the promising growth prospects for the electric submeters market, certain threats could hinder its progress. One of the most significant challenges is the rising competition from alternative energy monitoring solutions, such as smart plugs and energy management software. These alternatives may offer similar benefits at a lower cost, making them attractive to budget-conscious consumers and businesses. Furthermore, the rapid pace of technological advancements means that manufacturers must continuously innovate and improve their products to stay competitive. Failure to keep up with these changes may result in loss of market share to more agile companies that are quicker to adapt to emerging technologies and consumer preferences.

Another potential restraining factor is the regulatory environment surrounding energy monitoring devices. Variations in standards and regulations across different regions can create challenges for manufacturers aiming to market their products globally. Compliance with these regulations can be costly and time-consuming, particularly for small to medium-sized enterprises. Additionally, the presence of counterfeit or substandard products in the market can undermine consumer confidence and negatively affect the reputation of established brands. Manufacturers must navigate this complex landscape carefully to ensure compliance while also offering high-quality products, thus mitigating the risk of adverse market impacts.

Competitor Outlook

• Siemens AG
• Schneider Electric
• Honeywell International Inc.
• General Electric Company
• Landis+Gyr
• Kamstrup A/S
• Emerson Electric Co.
• ABB Ltd.
• Panasonic Corporation
• Metering Technology LLC
• Elster Group GmbH
• Iskraemeco d.d.
• Itron, Inc.
• Diehl Metering GmbH
• Zenner International GmbH & Co. KG

The competitive landscape of the electric submeters market is characterized by a diverse array of players, ranging from established multinational corporations to niche manufacturers. Major companies such as Siemens AG and Schneider Electric have leveraged their extensive experience in the energy sector to develop innovative submetering solutions that cater to both residential and industrial applications. These companies are continuously investing in research and development to enhance their product offerings and maintain their competitive edge. Moreover, strategic partnerships and collaborations among industry players are common, as they seek to combine their strengths and expand their market reach. For instance, collaborations between technology firms and traditional manufacturers often result in advanced smart metering solutions that meet the growing demand for energy efficiency.

Additionally, companies like Landis+Gyr and Itron, Inc. are at the forefront of integrating IoT capabilities into electric submeters, allowing for real-time data monitoring and analytics. This trend is crucial, as it aligns with the broader industry movement toward smart grid technologies and sustainability initiatives. By focusing on innovation and leveraging cutting-edge technologies, these companies are well-positioned to capitalize on the growing market demand for smart energy solutions. Furthermore, a rising number of startups are entering the market with disruptive technologies that challenge traditional business models, which adds another layer of complexity to the competitive landscape.

Key players in the market, such as Honeywell International Inc. and ABB Ltd., are not only focusing on product development but also on providing comprehensive energy management solutions that encompass electric submeters as part of a larger system. Their ability to offer integrated solutions that address various aspects of energy consumption, including monitoring, control, and optimization, sets them apart from competitors solely focused on hardware. This holistic approach is increasingly appealing to consumers and businesses seeking efficient and sustainable energy solutions, thereby reinforcing the market position of these leading firms. In summary, the competitive landscape of the electric submeters market is dynamic, with established companies and new entrants alike striving to innovate and meet the evolving energy management needs of a diverse customer base.