[China Instrument Network Instrument Market] Under the influence of four types of meter widely used, differentiated prices and the evolution of the Internet of Things, China's smart meter industry is rapidly developing. In 2016, the cumulative shipment of smart meters in China was 280 million units, and the CAGR of 2011-2016 was 20.5%. With the further popularization of smart meters in various fields, the market growth rate will slow in the future, and the average annual growth rate of over 20 percent will be achieved in 2017-2021.
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From the perspective of market segments, China's smart meter market is currently the most mature. In 2016, shipments accounted for more than 70% of the country's total shipments. In addition, the smart meter market has the highest penetration rate of 90%, followed by smart gas meter accounting for 55%, and intelligent water meters and smart heat meters less than 20% respectively.
Smart Meters: China's smart meter shipments reached 130 million units in 2016, and its compound annual growth rate was 7.1% in 2011-2016. The open bidding is mainly held by the State Grid and China Southern Power Grid. The goal is 2S single-phase smart meter (accounting for more than 85% of the total tender amount). As the market for smart meter conversion is approaching saturation, the growth comes mainly from new residential developments. However, China has lowered its real estate growth target again during the “Thirteenth Five-Year Plan†period (2016 - 2020). Therefore, it is expected that the annual compound growth rate for the 2017-2021 shipment will be between 3% and 5%.
Smart water meter: In 2016, the shipment of smart water meters in China was 18.49 million units, and the CAGR of 2011-2016 was 20.2%. Due to the low penetration rate, the market demand for smart metering will continue to grow steadily under the “Smart Water†plan in the next few years. Estimated shipments in 2017 will be 21.03 million units, and shipments in 2021 will be 34 million units.
Smart Gas Meter: With the promotion of national policies, traditional gas meters are gradually transformed into smart ones, which will help the smart gas meter market to flourish. In 2016, the shipment of smart gas meters in China reached 23.37 million units, and the CAGR of 2011-2016 was 26.2%. In the future, as the process of converting coal into natural gas is accelerated, the demand for smart gas meters will continue to increase, and shipments in 2017-2021 will exhibit an average annual growth rate of at least 15%.
Smart heat meter: mainly used in northern regions, compared with other smart meters, heat meters in an immature market and an industry without a uniform standard growth slow. Shipments in 2016 were 3.31 million units, an increase of 1.2% year-on-year. Some southern cities have expressed their intention to heat in the winter, and if this idea comes true, there will be new demand for heat meters.
The world's leading manufacturers of smart meters include Itron and Xylem in the US, Diehl in Germany, Landis + Gyr in Switzerland, Samsung Electronics of Ningbo, Wasion Group, Sanchuan Smart Technology, Gold Smart Group and Xintian Technology. The products provided by Itron, Xylem, Wasion Group and Xintian Technology cover the fields of hydraulics, electricity, natural gas and heating, while most of the remaining companies only involve one or two fields.
(Original headline: China's smart meter shipments grew by over 10% annually during 2017-2021)
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