Portable Power Meter Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Phase (Single Phase, Three Phase), By Application (Energy Measurement, Electric Load Profiling), And By Geography - Forecasts From 2023 To 2028

  • Published : May 2023
  • Report Code : KSI061615226
  • Pages : 142

A portable power meter is a device that measures the electrical power consumption of an electric appliance and is useful for anyone looking to better understand their energy usage and find ways to save on their energy bills. Portable power meters come in various phases, including single-phase and three-phase, and can be used in energy measurement and electric load profiling applications. Factors driving the growth of the portable power meter market include the increasing adoption of smart grid technologies, rising energy costs, the growing demand for energy-efficient appliances and devices, and government regulations and initiatives aimed at reducing energy consumption.

The increasing adoption of smart grid technology will boost the growth of the portable power meter market.

Smart grid technologies are designed to improve the efficiency and reliability of the electricity grid. They provide consumers with more information about their energy usage, and this increased visibility into energy consumption patterns can help consumers identify areas where they can reduce energy usage and save money on their energy bills. Portable power meters are a key tool for providing this information to consumers, as they can be easily connected to appliances and devices to measure their energy consumption. The demand for portable power meters grows as more consumers and utilities seek out tools to monitor and manage energy consumption. According to the U.S. Energy Information Administration (EIA), the average residential electricity price in the United States increased by 3.1% from 2019 to 2020, reaching 13.31 cents per kilowatt-hour (kWh). According to the International Electrotechnical Commission (IEC), in 2020, global smart grid investment reached $500 billion, up from $370 billion in 2019. This demonstrates that portable power meters hold a great demand in the future.

The increasing demand for energy-efficient appliances and devices will positively impact the portable power meter market growth.

Energy-efficient appliances and devices like LED lighting, smart thermostats, and energy-efficient refrigerators are becoming increasingly popular as consumers and businesses seek to reduce their energy costs and carbon footprint. Portable power meters allow users to measure the energy consumption of these appliances and devices, identify areas where energy efficiency can be improved, and track progress over time. The growing demand for energy-efficient appliances and devices is driving the adoption of portable power meters for managing energy consumption and reducing environmental impact. According to the International Energy Agency (IEA), in 2020, the sales of energy-efficient air conditioners, refrigerators, and washing machines increased by 12%, 16%, and 13% respectively compared to the previous year. This shows that there will be a high need for portable power meters in the future.

The Asia Pacific region is expected to hold a significant market share during the forecast period.

The Asia Pacific region is expected to hold a significant market share due to the demand for energy-efficient appliances and devices, increasing adoption of smart grid technology, rapid urbanization, and government initiatives to promote energy efficiency and reduce greenhouse gas emissions in nations like China, Japan, and India. In March 2021, China announced its "Five-Year Plan" for energy development, which includes a focus on renewable energy sources, energy conservation, and the development of a smart grid system. In 2021, the government of Japan released the "Basic Energy Plan", which outlines the country's energy policies for the next ten years, and the plan emphasizes the importance of promoting renewable energy and smart grid technologies to improve energy efficiency and reduce greenhouse gas emissions. The “Standards and Labelling Program”, launched in 2020 in India aims to promote the use of energy-efficient appliances by providing consumers with information about their energy performance, and the program covers a wide range of appliances, including air conditioners, refrigerators, and televisions. The adoption and development of smart grid technologies and energy-efficient appliances increase the demand for portable power meter.

Key Developments

  • February 2022: ABB India introduced a new line of portable power meter products namely"M1M11", “M1M DS”, “M1M 20B” and “M1M 30B” which offer easy and cost-effective power monitoring requirements.
  • June 2021: Satec introduced its PM3300 portable power meter that provides accurate measurements of power quality parameters, including voltage, current, power, energy, and harmonics.
  • April 2021: Sense launched its new portable power meter called “Sense Home Energy Monitor” which connects to a home's electrical panel and provides real-time data on energy usage and costs, helping homeowners to optimize their energy consumption.

Segmentation

  • By Phase
    • Single Phase
    • Three Phase
  • By Application
    • Energy Measurement
    • Electric Load Profiling
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Other

Frequently Asked Questions (FAQs)

2021 has been taken as the base year in the portable power meter market.
Prominent key market players in the portable power meter market include Delta Electronics, Hioki E.E Corporation (Takahiro Okazawa), Hoyt Electrical Instruments Works Inc., MKS Instruments Inc., and Schnieder Electric, among others.
The portable power meter market has been segmented by phase, application, and geography.
The increasing adoption of smart grid technology will boost the portable power meter market growth.
The Asia Pacific region is expected to hold a significant share of the portable power meter market.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Market Opportunities

4.4. Porter’s Five Force Analysis

4.4.1. Bargaining Power of Suppliers

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitutes

4.4.5. Competitive Rivalry in the Industry

4.5. Industry Value Chain Analysis

5. PORTABLE POWER METER MARKET ANALYSIS, BY PHASE

5.1. Introduction

5.2. Single Phase

5.3. Three Phase

6. PORTABLE POWER METER MARKET ANALYSIS, BY APPLICATION

6.1. Introduction

6.2. Energy Measurement

6.3. Electric Load Profiling

7. PORTABLE POWER METER MARKET ANALYSIS, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1.  Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. UK

7.4.3. France

7.4.4. Spain

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. UAE

7.5.3. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. Japan

7.6.3. South Korea

7.6.4. India

7.6.5. Australia

7.6.6. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES

9.1. Delta Electronics

9.2. Hioki E.E Corporation (Takahiro Okazawa)

9.3. Hoyt Electrical Instruments Works Inc.

9.4. MKS Instruments Inc. 

9.5. Schnieder Electric

9.6. Star Infomatic Pvt Ltd. (Star Group)

9.7. Tecpel Co; Ltd

9.8. Thorlabs Inc.

9.9. Yokogawa Electric Corporation


Delta Electronics

Hioki E.E Corporation (Takahiro Okazawa)

Hoyt Electrical Instruments Works Inc.

MKS Instruments Inc.

Schnieder Electric

Star Infomatic Pvt Ltd. (Star Group)

Tecpel Co; Ltd

Thorlabs Inc.

Yokogawa Electric Corporation