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“At present, the traditional electric energy meter market has entered a period of moderate growth from a period of rapid growth. The entire industry has become more competitive and the industry’s profit margins have declined. At the same time, the smart grid has injected new vitality into the electric energy meter market and the market is expected to grow substantially.†Wasson Zheng Xiaoping, senior vice president of the Group, said in an interview with the media.
The world famous market research organization Parker Consulting has predicted that by 2020, China will become the driving force behind the rapid rise of the Asian smart meter market. Predictions are not groundless. China proposed in 2010 that within the next five years, the installation and application of 240 million smart energy meters will be completed.
In 2015, the accumulated demand exceeds 500 million. China's smart grid has entered the phase of comprehensive construction and has generated a huge market demand for smart meters. By the end of 2011, there were about 41.199 million households nationwide.
It is estimated that there will be a total of 451.99 million households in China by 2015. If every household needs to install smart meters, by 2015 there will be a total of 511 million smart meters installed in the country, of which the replacement needs will be 590 million.
In 2011, the State Grid Corporation operated around 340 million households. For full coverage, the State Grid Corporation of China will need to accumulatively bid 420 million smart meters by 2015.
Among them, 189 million smart meters need to be installed in urban households and 231 million smart meters must be installed in rural households.
As of the end of 2012, the State Grid Corporation of China had accumulatively bid for 184 million smart meters.
Experts predict that the installed number of smart energy meters for use with smart grids will reach 760 million by 2013, and by 2020 smart grids will cover 80% of the world's population. Large-scale global smart grid construction will bring a broader market demand for smart energy meters, and also create good market conditions for the export of smart energy meter manufacturers in China.
Some experts predict that the strong growth trend of smart meters will continue in the next few years, and the export volume of smart meters in China will continue to rise. At present, China's smart meters have the most outstanding export performance in Southeast Asia and the Middle East, and South America will also become a new export growth area. "From the international market, the construction of foreign smart grids has lagged behind. The demand for smart meters has just entered the peak procurement period in 2015 and is complementary to the domestic market," said the chairman and general manager of Hangzhou Juhua Technology Co., Ltd.