Middle East Distribution Meter Market Size, Share & Trends Analysis Report By Product (Electromechanical, Digital), By Region, And Segment Forecasts, 2023 - 2030

Market Size & Trends

The Middle East distribution meter market size was valued at USD 4.40 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. Owing to increased electricity demand and the imminent introduction of regulatory frameworks mandating smart meters’ installation. The energy-rich Gulf Cooperation Council (GCC) countries invest in infrastructure development to boost the oil & gas industries, thereby increasing their industrial base.

Government initiatives and electricity utility companies are expected to increase the installation of smart meters, thereby increasing market demand over the forecast period. The key objective for installation includes the reduction of transmission as well as distribution losses. Smart meters provide two-way communication between suppliers and consumers, clarifying supply and demand requirements in a particular region.

The surge in activities such as upgrading meters, generating capabilities, and transmission systems is expected to favorably impact the Middle East distribution meter market growth over the next few years. Furthermore, rising demand for advanced metering and smart grid infrastructure is anticipated to bolster the demand over the forecast period.

Product Insights

Based on product, the market is segmented into electromechanical and digital. The digital segment accounted for the largest revenue share of around 95.8% in 2022. The digital segment incorporates significant opportunities over the forecast period owing to the potential benefits. It is expected to unite local and international technologies for distribution, automation, and smart grids.

One of the key drivers behind the growth of the digital segment is the ever-increasing replacement of electromechanical with digital counterparts, especially smart meters, which incorporate high efficiency, reliability, and easier integration of renewable energy sources, such as solar energy.

Smart meters help the suppliers identify the real-time energy consumption pattern for the users, thereby mapping the clarity of demand and supply in the region. They provide real-time or near real-time power consumption readings, power quality monitoring, and power outage notification.

Factors such as increasing electricity demand, the potential for renewable energy, and regional interconnection of power grids are expected to create avenues for the smart grid sector in the Middle East region. Smart meters help price-setting agencies introduce consumption-based pricing models depending on the day and season.

Regional Insights

The rest of the Middle East dominated the market and accounted for the largest revenue share of 45.6% in 2022. Advancements in technology have revolutionized the distribution meter market. Introducing smart meters with real-time data monitoring, remote connectivity, and two-way communication has enabled more accurate billing, efficient energy management, and improved customer engagement. Smart meters empower consumers to track their energy usage, identify peak demand periods, and adjust their consumption patterns, accordingly, reducing energy wastage and lowering costs.

Qatar is expected to register the highest CAGR of 5.2% over the forecast period. As Qatar's population continues to grow, the demand for electricity rises accordingly. It necessitates the installation of additional distribution meters to accurately measure and allocate electricity consumption in electromechanical, digital, and industrial areas.

Key Companies & Market Share Insights

The market is highly competitive, and the players are undertaking strategies such as forecast launches, acquisitions, and collaborations to increase their reach. For instance, in April 2023, Moro Hub, a subsidiary of Dubai Electricity and Water Authority (DEWA), partnered with Bidgely Inc. to utilize smart meter data and AI technology. This collaboration aims to empower utilities and consumers to make informed decisions regarding energy usage. By leveraging Bidgely's AI-powered Software as a Service (SaaS) platform, Moro Hub can disaggregate electricity load data from smart meters to specific appliances or categories. This integration of smart meter data and Bidgely's platform will provide valuable insights into consumer behavior, assisting Moro Hub in efficiently managing energy demand across their network. Some of the key players in the in the Middle East distribution meter market:

• ABB

• SAMI Advanced Electronics

• ZIV

• Universal Project Corporation

• Saudi Masar Company Limited

• Petra Systems

• Landis+Gyr

• Siemens

• KFB Group

• Itron Inc.

• ECHELON INDUSTRIES CORPORATION

• Iskraemeco Group

• DZG Metering GmbH
  

Recent Developments

• In August 2022, the Oman Authority for Public Services Regulation (APRS) launched a National Smart Meter Programme in collaboration with other stakeholders. The goal is to install approximately 1.2 million smart meters for all electricity consumers by 2025. This initiative is part of the government's digital transformation efforts and is expected to significantly benefit consumers and the electricity sector. By the end of 2021, around 145,000 smart meters had already been installed throughout Oman, including both large and new customers.

• In May 2022, the Dubai Electricity & Water Authority (DEWA) announced a USD 1.9 billion investment in implementing its new Smart Grid Strategy for 2021-2035. A Smart Grid offers modern features such as connectivity throughout the entire power and water system. It is vital to DEWA's goal to build advanced infrastructure to operate services and facilities through smart and integrated systems that leverage novel technologies and Fourth Industrial Revolution applications. It also allows smart grid applications, such as smart meters for energy and water, and distribution network automation.

• In March 2022, Landis+Gyr Technology Inc., a subsidiary of Landis+Gyr, signed a contract with Otter Tail Power Company to offer smart metering infrastructure. This collaboration aims to assist Otter Tail Power Company's initiatives to develop a smart and flexible power grid throughout its three-state service region. The contract includes 175,000 smart meters, Gridstream RF Mesh Internet Protocol and cellular network connections, a 20-year Software-as-a-Service (SaaS) setup for meter data management, sophisticated grid analytics, and system operating software.

• In January 2022, Abu Dhabi National Energy Company (TAQA) partnered with Etisalat Digital, an Etisalat subsidiary, to develop an advanced metering infrastructure (AMI) program to improve utility meters in Abu Dhabi. Over the next two years, TAQA's water and electricity distribution companies, Al Ain Distribution Company and Abu Dhabi Distribution Company, will collaborate with Etisalat Digital to construct a communication system and an innovative Internet of Things (IoT) platform for AMI. It aims to facilitate the current and new smart meters deployed in customer residences and companies to achieve their full potential.

Middle East Distribution Meter Market Report Scope

Middle East Distribution Meter Market Report Segmentation

This report forecasts revenue growth at regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the Middle East distribution meter market report based on product, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Electromechanical

  • Digital

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • Middle East and Africa

    • United Arab Emirates (UAE)

    • Saudi Arabia

    • Qatar

    • Rest of Middle East