European Smart Meter Market Shows Growth in Electricity and Gas Sectors

By Editor


Berg Insight has revealed the status and forecast of smart meter deployment in both electricity and gas sectors across Europe in 2023 and the coming years.

Electricity Smart Meter Market:

According to Berg Insight, the penetration of smart meters in the electricity sector across EU27+3 reached over 60 percent by the end of 2023, totaling more than 186 million smart meters. Forecasts suggest an increase with over 88 million units expected to be deployed from 2024 to 2028. This growth is projected to be driven by second-generation rollouts in countries like the UK, Italy, Spain, and Sweden, alongside initial projects in Germany, Poland, and Greece.

The report anticipates an annual shipment of NB-IoT and LTE-M electricity meters to range between 3.5 to 4.0 million units during the forecast period. Notably, Italy emerged as the largest market in terms of shipments in 2023, followed by the UK and Sweden. Additionally, major deployments in countries like France, Austria, Belgium, and Portugal, alongside second-generation rollouts, are expected to contribute substantially to the market.

Over the next five years, replacements of first-generation smart meters are estimated to constitute 25–40 percent of total shipments, amounting to 4–8 million units annually. Overall, Berg Insight forecasts a deployment of close to 110 million smart electricity meters across Europe from 2023 to 2028, indicating a promising and robust growth trajectory for the smart metering market in the region.

Smart Gas Meter Market:

The report also highlights robust growth prospects in the smart gas metering market within the EU27+3 region. The installed base of smart gas meters is predicted to increase from 56 million units in 2023 to around 78 million units by 2028.

While around 42 percent of natural gas customers in the region were equipped with smart gas meters by the end of 2022, Berg Insight estimates this number to reach 77.6 million by 2028, representing a penetration rate of over 61 percent. Annual shipments of smart gas meters are expected to remain stable, ranging between 5 to 6 million units throughout the forecast period.

France led the market in 2022 with the highest yearly shipment volumes, followed closely by the UK and Italy. Despite fluctuations in shipment volumes in certain countries like Italy and the UK, the overall trend remains stable. Spain and Belgium are anticipated to witness significant volumes of smart gas meter installations in the coming years, further contributing to the growth of the European smart gas metering market.

Baburajan Kizhakedath

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